Pallas Capital Advisors LLC bought a new position in shares of Northrop Grumman Corporation (NYSE:NOC – Free Report) in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 3,195 shares of the aerospace company’s stock, valued at approximately $1,627,000.
Several other large investors also recently modified their holdings of the business. Torren Management LLC bought a new position in Northrop Grumman during the 4th quarter valued at approximately $26,000. Karpus Management Inc. bought a new stake in shares of Northrop Grumman in the 4th quarter worth approximately $26,000. Kohmann Bosshard Financial Services LLC purchased a new position in shares of Northrop Grumman during the fourth quarter valued at approximately $29,000. Perkins Coie Trust Co purchased a new position in shares of Northrop Grumman during the second quarter valued at approximately $29,000. Finally, Financial Life Planners bought a new position in shares of Northrop Grumman during the first quarter valued at approximately $30,000. 83.40% of the stock is owned by institutional investors.
Northrop Grumman Price Performance
NOC opened at $570.59 on Tuesday. The company has a current ratio of 1.17, a quick ratio of 1.06 and a debt-to-equity ratio of 0.81. The company has a market cap of $81.04 billion, a price-to-earnings ratio of 18.13, a price-to-earnings-growth ratio of 3.79 and a beta of -0.11. The stock has a fifty day simple moving average of $539.49 and a two-hundred day simple moving average of $612.84. Northrop Grumman Corporation has a 12-month low of $479.02 and a 12-month high of $774.00.
Analyst Upgrades and Downgrades
Several analysts recently weighed in on the stock. Deutsche Bank Aktiengesellschaft set a $615.00 price target on shares of Northrop Grumman in a report on Wednesday, July 22nd. Susquehanna decreased their price objective on shares of Northrop Grumman from $785.00 to $655.00 and set a “positive” rating for the company in a report on Wednesday, July 22nd. Jefferies Financial Group dropped their target price on shares of Northrop Grumman from $620.00 to $580.00 and set a “hold” rating for the company in a research report on Friday, June 26th. Weiss Ratings lowered shares of Northrop Grumman from a “hold (c+)” rating to a “hold (c)” rating in a research note on Wednesday, August 12th. Finally, Raymond James Financial reiterated an “outperform” rating on shares of Northrop Grumman in a research report on Monday, June 15th. One research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and eight have assigned a Hold rating to the stock. According to MarketBeat.com, Northrop Grumman has a consensus rating of “Moderate Buy” and an average price target of $659.30.
Check Out Our Latest Stock Report on Northrop Grumman
Insider Buying and Selling at Northrop Grumman
In other news, Director Mark A. Welsh III sold 95 shares of Northrop Grumman stock in a transaction that occurred on Monday, August 3rd. The shares were sold at an average price of $547.53, for a total transaction of $52,015.35. Following the completion of the transaction, the director directly owned 4,393 shares in the company, valued at approximately $2,405,299.29. This trade represents a 2.12% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 0.21% of the company’s stock.
About Northrop Grumman
Northrop Grumman Corporation (NYSE: NOC) is a leading U.S.-based aerospace and defense company that designs, builds and sustains advanced systems, products and technologies for government and commercial customers. Formed through the combination of Northrop and Grumman businesses in the 1990s, the company’s portfolio spans manned and unmanned aircraft, space systems, missile defense, radar and sensor systems, and integrated command, control, communications, computers, intelligence, surveillance and reconnaissance (C4ISR) solutions.
The company’s work includes airframe and platform manufacturing, space hardware and satellite systems, advanced mission systems and cybersecurity services, as well as logistics, sustainment and modernization programs.
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