Northrop Grumman Co. (NYSE:NOC) Short Interest Update

Northrop Grumman Co. (NYSE:NOC) was the recipient of a large drop in short interest in the month of July. As of July 15th, there was short interest totalling 1,220,000 shares, a drop of 16.4% from the June 30th total of 1,460,000 shares. Based on an average daily trading volume, of 972,400 shares, the days-to-cover ratio is presently 1.3 days. Currently, 0.7% of the shares of the stock are short sold.

NYSE:NOC opened at $325.01 on Friday. The company has a fifty day moving average of $308.15 and a 200-day moving average of $332.27. The firm has a market capitalization of $54.18 billion, a P/E ratio of 22.86 and a beta of 0.79. The company has a quick ratio of 1.21, a current ratio of 1.35 and a debt-to-equity ratio of 1.61. Northrop Grumman has a twelve month low of $263.31 and a twelve month high of $385.01.

Northrop Grumman (NYSE:NOC) last released its quarterly earnings data on Thursday, July 30th. The aerospace company reported $6.01 earnings per share for the quarter, beating the consensus estimate of $5.32 by $0.69. The company had revenue of $8.88 billion during the quarter, compared to analyst estimates of $8.66 billion. Northrop Grumman had a net margin of 6.91% and a return on equity of 40.24%. Northrop Grumman’s revenue for the quarter was up 5.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $5.06 EPS. On average, analysts anticipate that Northrop Grumman will post 22.15 EPS for the current fiscal year.

Large investors have recently added to or reduced their stakes in the company. Advisor Group Holdings Inc. bought a new stake in Northrop Grumman during the 1st quarter valued at $21,230,000. Clarius Group LLC increased its stake in Northrop Grumman by 6.7% during the 2nd quarter. Clarius Group LLC now owns 1,320 shares of the aerospace company’s stock valued at $406,000 after purchasing an additional 83 shares in the last quarter. San Francisco Sentry Investment Group CA boosted its holdings in Northrop Grumman by 50.7% during the 1st quarter. San Francisco Sentry Investment Group CA now owns 333 shares of the aerospace company’s stock worth $100,000 after acquiring an additional 112 shares during the last quarter. Ballast Advisors LLC purchased a new position in Northrop Grumman during the 1st quarter worth $30,000. Finally, Legal & General Group Plc boosted its holdings in Northrop Grumman by 3.0% during the 1st quarter. Legal & General Group Plc now owns 859,320 shares of the aerospace company’s stock worth $260,058,000 after acquiring an additional 25,139 shares during the last quarter. Institutional investors own 83.97% of the company’s stock.

Several equities analysts have commented on the stock. Seaport Global Securities assumed coverage on shares of Northrop Grumman in a report on Tuesday, May 19th. They issued a “buy” rating and a $398.00 target price on the stock. ValuEngine raised shares of Northrop Grumman from a “sell” rating to a “hold” rating in a report on Tuesday. UBS Group reduced their price target on shares of Northrop Grumman from $410.00 to $373.00 and set a “neutral” rating on the stock in a research note on Thursday, June 11th. Cowen upgraded shares of Northrop Grumman from a “market perform” rating to an “outperform” rating and raised their price target for the company from $360.00 to $370.00 in a research note on Friday, May 15th. Finally, Morgan Stanley lifted their target price on shares of Northrop Grumman from $380.00 to $412.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 14th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and six have given a buy rating to the company’s stock. Northrop Grumman presently has an average rating of “Hold” and a consensus price target of $385.00.

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.

Read More: Why do analysts give a neutral rating?

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