Northrop Grumman Corporation $NOC Shares Bought by Kovitz Investment Group Partners LLC

Key Points

• Kovitz Investment Group Partners LLC increased its stake in Northrop Grumman by 12.6% during the 1st quarter, now holding 10,705 shares worth approximately $5.48 million.
• Several analysts have raised their price targets for Northrop Grumman, with Bank of America setting it at $650.00, indicating positive sentiment towards the stock.
• Northrop Grumman reported $7.11 earnings per share for the last quarter, exceeding consensus estimates and revealing a 1.3% increase in revenue compared to the previous year.

Kovitz Investment Group Partners LLC grew its position in Northrop Grumman Corporation (NYSE:NOC - Free Report) by 12.6% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 10,705 shares of the aerospace company's stock after purchasing an additional 1,202 shares during the quarter. Kovitz Investment Group Partners LLC's holdings in Northrop Grumman were worth $5,481,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Vestmark Advisory Solutions Inc. grew its position in shares of Northrop Grumman by 90.7% in the 1st quarter. Vestmark Advisory Solutions Inc. now owns 10,252 shares of the aerospace company's stock valued at $5,249,000 after buying an additional 4,877 shares during the last quarter. Holderness Investments Co. grew its position in shares of Northrop Grumman by 2.2% in the 1st quarter. Holderness Investments Co. now owns 2,005 shares of the aerospace company's stock valued at $1,027,000 after buying an additional 44 shares during the last quarter. American Money Management LLC grew its position in shares of Northrop Grumman by 1.7% in the 1st quarter. American Money Management LLC now owns 13,168 shares of the aerospace company's stock valued at $6,742,000 after buying an additional 225 shares during the last quarter. Tokio Marine Asset Management Co. Ltd. grew its position in shares of Northrop Grumman by 5.9% in the 1st quarter. Tokio Marine Asset Management Co. Ltd. now owns 3,791 shares of the aerospace company's stock valued at $1,941,000 after buying an additional 211 shares during the last quarter. Finally, National Pension Service grew its position in shares of Northrop Grumman by 9.9% in the 1st quarter. National Pension Service now owns 327,307 shares of the aerospace company's stock valued at $167,584,000 after buying an additional 29,437 shares during the last quarter. 83.40% of the stock is currently owned by institutional investors and hedge funds.

Northrop Grumman Stock Performance

Shares of NYSE:NOC traded up $1.2990 during midday trading on Tuesday, hitting $586.1190. The stock had a trading volume of 470,683 shares, compared to its average volume of 882,543. The company has a market capitalization of $83.92 billion, a PE ratio of 21.60, a P/E/G ratio of 5.60 and a beta of 0.15. The stock has a 50 day moving average price of $535.88 and a two-hundred day moving average price of $502.32. The company has a current ratio of 1.04, a quick ratio of 0.93 and a debt-to-equity ratio of 0.98. Northrop Grumman Corporation has a 1 year low of $426.24 and a 1 year high of $594.68.

Northrop Grumman (NYSE:NOC - Get Free Report) last issued its earnings results on Tuesday, July 22nd. The aerospace company reported $7.11 earnings per share for the quarter, beating the consensus estimate of $6.84 by $0.27. Northrop Grumman had a net margin of 9.74% and a return on equity of 25.52%. The business had revenue of $10.35 billion for the quarter, compared to the consensus estimate of $10.15 billion. During the same quarter in the previous year, the firm earned $6.36 earnings per share. The business's quarterly revenue was up 1.3% compared to the same quarter last year. Northrop Grumman has set its FY 2025 guidance at 25.000-25.400 EPS. As a group, equities analysts predict that Northrop Grumman Corporation will post 28.05 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research analysts recently commented on the stock. Barclays increased their target price on shares of Northrop Grumman from $500.00 to $580.00 and gave the company an "equal weight" rating in a research report on Tuesday, July 29th. Susquehanna raised their price objective on shares of Northrop Grumman from $557.00 to $650.00 and gave the stock a "positive" rating in a research report on Tuesday, July 22nd. UBS Group dropped their price objective on shares of Northrop Grumman from $583.00 to $571.00 and set a "buy" rating on the stock in a research note on Wednesday, April 23rd. Wells Fargo & Company restated an "overweight" rating on shares of Northrop Grumman in a research note on Tuesday, July 22nd. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Northrop Grumman from $480.00 to $585.00 and gave the company a "neutral" rating in a research note on Wednesday, July 23rd. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and nine have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $586.79.

Insider Activity at Northrop Grumman

In related news, VP Robert J. Fleming sold 3,500 shares of the firm's stock in a transaction dated Friday, June 13th. The shares were sold at an average price of $505.77, for a total value of $1,770,195.00. Following the completion of the sale, the vice president owned 1,827 shares in the company, valued at $924,041.79. This trade represents a 65.70% 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. Also, VP Thomas H. Jones sold 729 shares of Northrop Grumman stock in a transaction dated Friday, June 13th. The stock was sold at an average price of $505.77, for a total transaction of $368,706.33. Following the transaction, the vice president owned 7,552 shares of the company's stock, valued at approximately $3,819,575.04. The trade was a 8.80% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 16,536 shares of company stock worth $8,306,857 over the last three months. 0.23% of the stock is currently owned by company insiders.

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.