Canandaigua National Bank & Trust Co. increased its position in Northrop Grumman Co. (NYSE:NOC) by 3.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,244 shares of the aerospace company’s stock after purchasing an additional 123 shares during the quarter. Canandaigua National Bank & Trust Co.’s holdings in Northrop Grumman were worth $1,116,000 as of its most recent SEC filing.
A number of other hedge funds have also recently made changes to their positions in the stock. Cozad Asset Management Inc. lifted its stake in Northrop Grumman by 1,176.0% in the 3rd quarter. Cozad Asset Management Inc. now owns 9,838 shares of the aerospace company’s stock valued at $3,687,000 after acquiring an additional 9,067 shares in the last quarter. Evoke Wealth LLC bought a new stake in Northrop Grumman in the 3rd quarter valued at approximately $188,000. Worldquant Millennium Advisors LLC lifted its stake in Northrop Grumman by 5.7% in the 3rd quarter. Worldquant Millennium Advisors LLC now owns 15,117 shares of the aerospace company’s stock valued at $5,665,000 after acquiring an additional 820 shares in the last quarter. Surevest Inc. lifted its stake in Northrop Grumman by 25.3% in the 4th quarter. Surevest Inc. now owns 6,508 shares of the aerospace company’s stock valued at $2,239,000 after acquiring an additional 1,314 shares in the last quarter. Finally, Narwhal Capital Management lifted its stake in Northrop Grumman by 12.9% in the 3rd quarter. Narwhal Capital Management now owns 23,777 shares of the aerospace company’s stock valued at $8,911,000 after acquiring an additional 2,717 shares in the last quarter. Hedge funds and other institutional investors own 82.77% of the company’s stock.
Several equities research analysts have commented on the company. TheStreet cut Northrop Grumman from a “b-” rating to a “c+” rating in a research note on Tuesday, December 24th. Sanford C. Bernstein boosted their target price on Northrop Grumman from $374.00 to $385.00 and gave the company a “market perform” rating in a research note on Friday, October 25th. Morgan Stanley boosted their target price on Northrop Grumman from $437.00 to $449.00 and gave the company an “overweight” rating in a research note on Thursday, December 12th. Barclays set a $415.00 target price on Northrop Grumman and gave the company a “buy” rating in a research note on Tuesday, October 8th. Finally, Zacks Investment Research upgraded Northrop Grumman from a “hold” rating to a “buy” rating and set a $367.00 target price on the stock in a research note on Monday, December 30th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and eleven have issued a buy rating to the stock. Northrop Grumman presently has a consensus rating of “Buy” and a consensus target price of $375.45.
Shares of Northrop Grumman stock opened at $379.97 on Friday. Northrop Grumman Co. has a 12-month low of $262.77 and a 12-month high of $384.68. The stock has a market cap of $64.04 billion, a P/E ratio of 17.81, a P/E/G ratio of 1.25 and a beta of 0.76. The company has a quick ratio of 1.19, a current ratio of 1.29 and a debt-to-equity ratio of 1.55. The business’s 50 day moving average is $354.92 and its 200-day moving average is $354.38.
Northrop Grumman (NYSE:NOC) last announced its quarterly earnings data on Thursday, October 24th. The aerospace company reported $5.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.74 by $0.75. Northrop Grumman had a return on equity of 39.12% and a net margin of 9.05%. The company had revenue of $8.48 billion for the quarter, compared to analysts’ expectations of $8.56 billion. During the same quarter in the prior year, the business posted $6.54 EPS. The business’s revenue was up 4.8% compared to the same quarter last year. On average, sell-side analysts expect that Northrop Grumman Co. will post 20.38 EPS for the current 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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