MAI Capital Management Has $3.31 Million Stock Position in Northrop Grumman Co. (NYSE:NOC)

MAI Capital Management lowered its holdings in Northrop Grumman Co. (NYSE:NOC) by 18.5% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 6,260 shares of the aerospace company’s stock after selling 1,417 shares during the quarter. MAI Capital Management’s holdings in Northrop Grumman were worth $3,306,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of NOC. Edgestream Partners L.P. grew its holdings in shares of Northrop Grumman by 119.8% during the 1st quarter. Edgestream Partners L.P. now owns 2,042 shares of the aerospace company’s stock worth $977,000 after purchasing an additional 1,113 shares in the last quarter. Covestor Ltd grew its holdings in shares of Northrop Grumman by 32.1% during the 1st quarter. Covestor Ltd now owns 243 shares of the aerospace company’s stock worth $116,000 after purchasing an additional 59 shares in the last quarter. Seven Eight Capital LP grew its holdings in shares of Northrop Grumman by 45.9% during the 1st quarter. Seven Eight Capital LP now owns 1,147 shares of the aerospace company’s stock worth $549,000 after purchasing an additional 361 shares in the last quarter. Lake Street Advisors Group LLC grew its holdings in shares of Northrop Grumman by 16.0% during the 1st quarter. Lake Street Advisors Group LLC now owns 1,475 shares of the aerospace company’s stock worth $706,000 after purchasing an additional 203 shares in the last quarter. Finally, Crewe Advisors LLC acquired a new stake in shares of Northrop Grumman during the 1st quarter worth approximately $219,000. Institutional investors and hedge funds own 83.40% of the company’s stock.

Northrop Grumman Stock Up 0.4 %

NYSE NOC opened at $490.86 on Wednesday. The stock has a fifty day moving average of $521.97 and a 200-day moving average of $486.44. The stock has a market capitalization of $71.52 billion, a P/E ratio of 30.41, a price-to-earnings-growth ratio of 1.00 and a beta of 0.35. Northrop Grumman Co. has a 52 week low of $418.60 and a 52 week high of $555.57. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.97 and a current ratio of 1.09.

Northrop Grumman (NYSE:NOC) last released its earnings results on Thursday, October 24th. The aerospace company reported $7.00 EPS for the quarter, beating the consensus estimate of $6.07 by $0.93. The company had revenue of $10 billion during the quarter, compared to analysts’ expectations of $10.18 billion. Northrop Grumman had a return on equity of 26.57% and a net margin of 5.79%. The business’s revenue for the quarter was up 2.3% on a year-over-year basis. During the same period last year, the firm earned $6.18 EPS. On average, equities research analysts forecast that Northrop Grumman Co. will post 25.93 EPS for the current year.

Insider Activity

In related news, VP Benjamin R. Davies sold 1,156 shares of Northrop Grumman stock in a transaction on Monday, November 11th. The stock was sold at an average price of $532.93, for a total transaction of $616,067.08. Following the completion of the sale, the vice president now directly owns 537 shares of the company’s stock, valued at $286,183.41. The trade was a 68.28 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In the last ninety days, insiders sold 1,289 shares of company stock valued at $685,273. Company insiders own 0.22% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently weighed in on the company. Citigroup lifted their price objective on Northrop Grumman from $521.00 to $587.00 and gave the stock a “neutral” rating in a report on Thursday, October 10th. UBS Group raised their target price on Northrop Grumman from $614.00 to $643.00 and gave the stock a “buy” rating in a research report on Friday, October 25th. StockNews.com downgraded Northrop Grumman from a “strong-buy” rating to a “buy” rating in a research report on Wednesday. Barclays raised their target price on Northrop Grumman from $500.00 to $550.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 29th. Finally, Susquehanna raised their target price on Northrop Grumman from $560.00 to $625.00 and gave the stock a “positive” rating in a research report on Friday, October 25th. One analyst has rated the stock with a sell rating, ten have given a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, Northrop Grumman currently has a consensus rating of “Hold” and a consensus target price of $550.56.

About Northrop Grumman

Northrop Grumman Corporation operates as an aerospace and defense technology company in the United States, Asia/Pacific, Europe, and internationally. The company’s Aeronautics Systems segment designs, develops, manufactures, integrates, and sustains aircraft systems. This segment also offers unmanned autonomous aircraft systems, including high-altitude long-endurance strategic ISR systems and vertical take-off and landing tactical ISR systems; and strategic long-range strike aircraft, tactical fighter and air dominance aircraft, and airborne battle management and command and control systems.