Surevest Inc. Has $632,000 Position in Northrop Grumman Co. (NOC)

Surevest Inc. increased its position in Northrop Grumman Co. (NYSE:NOC) by 122.8% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,344 shares of the aerospace company’s stock after buying an additional 1,292 shares during the period. Surevest Inc.’s holdings in Northrop Grumman were worth $632,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of NOC. Laurel Wealth Advisors LLC bought a new position in shares of Northrop Grumman during the 4th quarter worth approximately $27,000. Sontag Advisory LLC bought a new stake in Northrop Grumman in the 4th quarter valued at $29,000. Legacy Advisors LLC bought a new stake in Northrop Grumman in the 1st quarter valued at $30,000. Athena Capital Advisors LLC bought a new stake in Northrop Grumman in the 4th quarter valued at $31,000. Finally, Gantzert Investment Co. LLC ADV bought a new stake in Northrop Grumman in the 4th quarter valued at $32,000. Institutional investors own 83.98% of the company’s stock.

NYSE:NOC traded down $0.20 during trading hours on Wednesday, reaching $281.41. 109,539 shares of the company were exchanged, compared to its average volume of 819,614. The stock has a market capitalization of $47.86 billion, a PE ratio of 13.19, a P/E/G ratio of 1.15 and a beta of 0.88. The company has a debt-to-equity ratio of 1.70, a quick ratio of 1.09 and a current ratio of 1.17. Northrop Grumman Co. has a twelve month low of $223.63 and a twelve month high of $359.88.

Northrop Grumman (NYSE:NOC) last issued its earnings results on Thursday, January 31st. The aerospace company reported $4.93 EPS for the quarter, beating the Zacks’ consensus estimate of $4.45 by $0.48. The business had revenue of $8.16 billion during the quarter, compared to analysts’ expectations of $8.11 billion. Northrop Grumman had a net margin of 9.73% and a return on equity of 41.24%. During the same period in the prior year, the business earned $2.82 earnings per share. Research analysts forecast that Northrop Grumman Co. will post 18.94 earnings per share for the current year.

A number of brokerages have commented on NOC. Drexel Hamilton reissued a “buy” rating and issued a $335.00 price objective on shares of Northrop Grumman in a research note on Wednesday, December 19th. ValuEngine lowered shares of Northrop Grumman from a “hold” rating to a “sell” rating in a research note on Friday, January 4th. Bank of America reiterated a “buy” rating and set a $355.00 price objective (down previously from $360.00) on shares of Northrop Grumman in a research note on Friday, February 1st. Goldman Sachs Group lowered shares of Northrop Grumman from a “conviction-buy” rating to a “buy” rating in a research note on Friday, February 1st. Finally, Citigroup dropped their target price on shares of Northrop Grumman from $350.00 to $333.00 and set a “buy” rating on the stock in a research report on Monday, January 14th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and thirteen have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $338.72.

In related news, CAO Michael A. Hardesty sold 259 shares of the company’s stock in a transaction dated Thursday, February 21st. The shares were sold at an average price of $288.38, for a total value of $74,690.42. Following the completion of the sale, the chief accounting officer now owns 6,253 shares of the company’s stock, valued at $1,803,240.14. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Wesley G. Bush sold 86,500 shares of the company’s stock in a transaction dated Wednesday, February 20th. The shares were sold at an average price of $287.28, for a total transaction of $24,849,720.00. Following the completion of the sale, the chairman now directly owns 39,937 shares of the company’s stock, valued at approximately $11,473,101.36. The disclosure for this sale can be found here. Insiders sold 119,197 shares of company stock valued at $34,247,476 in the last three months. 0.45% of the stock is currently owned by insiders.

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Northrop Grumman 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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