Abner Herrman & Brock LLC Boosts Stock Holdings in Northrop Grumman Co. (NYSE:NOC)

Abner Herrman & Brock LLC grew its position in shares of Northrop Grumman Co. (NYSE:NOC) by 315.5% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 9,383 shares of the aerospace company’s stock after acquiring an additional 7,125 shares during the quarter. Abner Herrman & Brock LLC’s holdings in Northrop Grumman were worth $3,517,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently bought and sold shares of NOC. CHURCHILL MANAGEMENT Corp bought a new stake in Northrop Grumman in the 2nd quarter valued at about $9,784,000. Calamos Wealth Management LLC raised its stake in Northrop Grumman by 46.2% in the 2nd quarter. Calamos Wealth Management LLC now owns 21,657 shares of the aerospace company’s stock valued at $6,998,000 after acquiring an additional 6,845 shares during the period. Trust Co. of Toledo NA OH bought a new stake in Northrop Grumman in the 1st quarter valued at about $231,000. Capital Planning Advisors LLC raised its stake in Northrop Grumman by 3.4% in the 2nd quarter. Capital Planning Advisors LLC now owns 10,191 shares of the aerospace company’s stock valued at $3,293,000 after acquiring an additional 338 shares during the period. Finally, Sullivan Bruyette Speros & Blaney LLC raised its stake in Northrop Grumman by 4.8% in the 2nd quarter. Sullivan Bruyette Speros & Blaney LLC now owns 1,495 shares of the aerospace company’s stock valued at $483,000 after acquiring an additional 69 shares during the period. 83.09% of the stock is currently owned by hedge funds and other institutional investors.

A number of equities research analysts recently issued reports on the company. Morgan Stanley boosted their price objective on Northrop Grumman from $418.00 to $437.00 and gave the company an “overweight” rating in a research note on Thursday. Bank of America reiterated a “buy” rating and set a $405.00 price target (up from $355.00) on shares of Northrop Grumman in a research report on Thursday, July 25th. UBS Group upped their price target on Northrop Grumman from $300.00 to $330.00 and gave the company a “neutral” rating in a research report on Wednesday, July 10th. ValuEngine cut Northrop Grumman from a “sell” rating to a “strong sell” rating in a research report on Wednesday, October 2nd. Finally, Sanford C. Bernstein upped their price target on Northrop Grumman from $344.00 to $368.00 in a research report on Thursday, July 25th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and fourteen have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $348.87.

In other Northrop Grumman news, VP Christopher T. Jones sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, July 29th. The stock was sold at an average price of $353.19, for a total value of $1,765,950.00. Following the completion of the sale, the vice president now owns 67,422 shares of the company’s stock, valued at $23,812,776.18. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Kathy J. Warden sold 6,837 shares of the company’s stock in a transaction that occurred on Monday, July 29th. The stock was sold at an average price of $353.46, for a total value of $2,416,606.02. Following the completion of the sale, the chief executive officer now directly owns 99,002 shares of the company’s stock, valued at approximately $34,993,246.92. The disclosure for this sale can be found here. 0.45% of the stock is owned by corporate insiders.

Shares of NOC stock traded down $7.44 during trading on Friday, hitting $361.31. The company had a trading volume of 44,866 shares, compared to its average volume of 1,143,414. The company has a quick ratio of 1.15, a current ratio of 1.25 and a debt-to-equity ratio of 1.62. The stock’s 50-day moving average is $368.02 and its two-hundred day moving average is $325.96. The stock has a market capitalization of $62.34 billion, a price-to-earnings ratio of 16.93, a price-to-earnings-growth ratio of 1.51 and a beta of 0.80. Northrop Grumman Co. has a 52 week low of $223.63 and a 52 week high of $383.89.

Northrop Grumman (NYSE:NOC) last posted its quarterly earnings data on Wednesday, July 24th. The aerospace company reported $5.06 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $4.64 by $0.42. The company had revenue of $8.46 billion for the quarter, compared to analysts’ expectations of $8.41 billion. Northrop Grumman had a net margin of 9.80% and a return on equity of 42.21%. Northrop Grumman’s revenue for the quarter was up 18.8% compared to the same quarter last year. During the same period in the prior year, the business earned $4.50 earnings per share. On average, research analysts predict that Northrop Grumman Co. will post 19.64 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 25th. Shareholders of record on Monday, September 9th were paid a $1.32 dividend. This represents a $5.28 annualized dividend and a yield of 1.46%. The ex-dividend date of this dividend was Friday, September 6th. Northrop Grumman’s dividend payout ratio is currently 24.75%.

Northrop Grumman Company Profile

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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