SeaTown Holdings Pte. Ltd. Acquires Shares of 67,000 Northrop Grumman Co. (NYSE:NOC)

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SeaTown Holdings Pte. Ltd. acquired a new stake in shares of Northrop Grumman Co. (NYSE:NOC) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 67,000 shares of the aerospace company’s stock, valued at approximately $21,648,000. Northrop Grumman makes up 4.0% of SeaTown Holdings Pte. Ltd.’s investment portfolio, making the stock its 5th biggest holding.

Other large investors have also recently added to or reduced their stakes in the company. Wedbush Securities Inc. boosted its holdings in shares of Northrop Grumman by 18.7% during the 2nd quarter. Wedbush Securities Inc. now owns 2,079 shares of the aerospace company’s stock valued at $672,000 after acquiring an additional 328 shares during the last quarter. Nkcfo LLC purchased a new position in shares of Northrop Grumman in the second quarter worth approximately $2,528,000. CIBC Private Wealth Group LLC boosted its holdings in shares of Northrop Grumman by 1.5% in the second quarter. CIBC Private Wealth Group LLC now owns 13,354 shares of the aerospace company’s stock worth $4,314,000 after buying an additional 201 shares during the last quarter. CWM LLC boosted its holdings in shares of Northrop Grumman by 57.5% in the second quarter. CWM LLC now owns 32,742 shares of the aerospace company’s stock worth $10,579,000 after buying an additional 11,958 shares during the last quarter. Finally, Ropes Wealth Advisors LLC purchased a new position in shares of Northrop Grumman in the second quarter worth approximately $162,000. Institutional investors and hedge funds own 83.71% of the company’s stock.

In other news, VP Patrick M. Antkowiak sold 1,932 shares of the stock in a transaction that occurred on Monday, May 20th. The stock was sold at an average price of $310.00, for a total transaction of $598,920.00. Following the transaction, the vice president now owns 5,208 shares in the company, valued at approximately $1,614,480. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Kathy J. Warden sold 6,837 shares of the stock in a transaction that occurred on Monday, July 29th. The shares were sold at an average price of $353.46, for a total value of $2,416,606.02. Following the transaction, the chief executive officer now owns 99,002 shares in the company, valued at approximately $34,993,246.92. The disclosure for this sale can be found here. In the last 90 days, insiders sold 14,740 shares of company stock worth $5,087,496. Insiders own 0.45% of the company’s stock.

A number of research firms recently issued reports on NOC. Sanford C. Bernstein raised their price objective on shares of Northrop Grumman from $344.00 to $368.00 in a report on Thursday, July 25th. Credit Suisse Group lifted their price target on shares of Northrop Grumman from $364.00 to $385.00 and gave the company an “outperform” rating in a report on Thursday, July 25th. Bank of America reaffirmed a “buy” rating and set a $405.00 price target (up previously from $355.00) on shares of Northrop Grumman in a report on Thursday, July 25th. Morgan Stanley raised shares of Northrop Grumman from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $335.00 to $418.00 in a report on Tuesday, August 6th. Finally, ValuEngine raised shares of Northrop Grumman from a “sell” rating to a “hold” rating in a report on Saturday. Five analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Northrop Grumman has a consensus rating of “Buy” and a consensus target price of $345.93.

Northrop Grumman stock traded down $1.60 during mid-day trading on Tuesday, hitting $371.61. The company had a trading volume of 50,914 shares, compared to its average volume of 984,649. The company has a debt-to-equity ratio of 1.62, a current ratio of 1.25 and a quick ratio of 1.15. Northrop Grumman Co. has a 12-month low of $223.63 and a 12-month high of $374.68. The firm’s fifty day moving average is $335.95. The stock has a market cap of $62.69 billion, a P/E ratio of 17.40, a price-to-earnings-growth ratio of 1.52 and a beta of 0.81.

Northrop Grumman (NYSE:NOC) last released its quarterly earnings data on Wednesday, July 24th. The aerospace company reported $5.06 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $4.64 by $0.42. Northrop Grumman had a return on equity of 42.21% and a net margin of 9.80%. The business had revenue of $8.46 billion for the quarter, compared to analyst estimates of $8.41 billion. During the same quarter in the prior year, the firm posted $4.50 EPS. The business’s quarterly revenue was up 18.8% compared to the same quarter last year. On average, sell-side analysts expect that Northrop Grumman Co. will post 19.63 earnings per share for the current fiscal year.

About Northrop Grumman

Northrop Grumman Corporation, a security company, provides products in the areas of autonomous systems, cyber, space, strikes, and logistics and modernizations in the United States, the Asia Pacific, and internationally. The company operates through four segments: Aerospace Systems, Innovation Systems, Mission Systems, and Technology Services.

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Institutional Ownership by Quarter for Northrop Grumman (NYSE:NOC)

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