Prospera Private Wealth LLC Takes $1.65 Million Position in Northrop Grumman Co. (NYSE:NOC)

Prospera Private Wealth LLC bought a new position in Northrop Grumman Co. (NYSE:NOC) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 3,119 shares of the aerospace company’s stock, valued at approximately $1,647,000.

A number of other large investors have also added to or reduced their stakes in NOC. Optimum Investment Advisors raised its position in shares of Northrop Grumman by 241.2% in the 2nd quarter. Optimum Investment Advisors now owns 58 shares of the aerospace company’s stock worth $25,000 after acquiring an additional 41 shares in the last quarter. Bank & Trust Co purchased a new position in shares of Northrop Grumman in the 2nd quarter worth about $28,000. Meeder Asset Management Inc. raised its holdings in Northrop Grumman by 245.5% in the second quarter. Meeder Asset Management Inc. now owns 76 shares of the aerospace company’s stock worth $33,000 after buying an additional 54 shares during the last quarter. Catalyst Capital Advisors LLC purchased a new position in Northrop Grumman in the 3rd quarter worth approximately $40,000. Finally, Strategic Financial Concepts LLC bought a new position in shares of Northrop Grumman during the second quarter valued at $47,000. Institutional investors own 83.40% of the company’s stock.

Insider Transactions at Northrop Grumman

In other news, VP Benjamin R. Davies sold 1,156 shares of the company’s stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $532.93, for a total value of $616,067.08. Following the sale, the vice president now owns 537 shares in the company, valued at $286,183.41. This represents a 68.28 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders have sold 1,289 shares of company stock worth $685,273 over the last 90 days. 0.22% of the stock is currently owned by company insiders.

Northrop Grumman Price Performance

Shares of NOC stock opened at $490.86 on Wednesday. The firm has a market capitalization of $71.52 billion, a price-to-earnings ratio of 30.41, a PEG ratio of 1.00 and a beta of 0.35. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.97 and a current ratio of 1.09. The stock’s 50-day simple moving average is $521.97 and its 200-day simple moving average is $486.44. Northrop Grumman Co. has a fifty-two week low of $418.60 and a fifty-two week high of $555.57.

Northrop Grumman (NYSE:NOC) last announced its quarterly earnings data on Thursday, October 24th. The aerospace company reported $7.00 earnings per share for the quarter, beating analysts’ consensus estimates of $6.07 by $0.93. The firm had revenue of $10 billion for the quarter, compared to analyst estimates of $10.18 billion. Northrop Grumman had a net margin of 5.79% and a return on equity of 26.57%. The business’s quarterly revenue was up 2.3% compared to the same quarter last year. During the same period in the previous year, the company earned $6.18 earnings per share. As a group, equities analysts forecast that Northrop Grumman Co. will post 25.93 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of analysts recently commented on the company. Alembic Global Advisors cut Northrop Grumman from an “overweight” rating to a “neutral” rating and set a $560.00 price objective for the company. in a research report on Tuesday, August 27th. JPMorgan Chase & Co. increased their price target on Northrop Grumman from $500.00 to $560.00 and gave the stock a “neutral” rating in a research note on Monday, October 14th. Wells Fargo & Company boosted their target price on shares of Northrop Grumman from $509.00 to $565.00 and gave the stock an “equal weight” rating in a report on Friday, October 25th. UBS Group raised their price target on Northrop Grumman from $614.00 to $643.00 and gave the company a “buy” rating in a report on Friday, October 25th. Finally, Morgan Stanley boosted their target price on shares of Northrop Grumman from $579.00 to $592.00 and gave the stock an “overweight” rating in a report on Friday, August 9th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $550.56.

Northrop Grumman Profile

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.