Mitsubishi UFJ Asset Management Co. Ltd. purchased a new stake in Northrop Grumman Corporation (NYSE:NOC - Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 353,530 shares of the aerospace company's stock, valued at approximately $180,057,000. Mitsubishi UFJ Asset Management Co. Ltd. owned approximately 0.25% of Northrop Grumman as of its most recent SEC filing.
A number of other hedge funds also recently modified their holdings of the company. Kestra Investment Management LLC raised its stake in shares of Northrop Grumman by 4.4% in the fourth quarter. Kestra Investment Management LLC now owns 353 shares of the aerospace company's stock valued at $201,000 after purchasing an additional 15 shares in the last quarter. Evolution Wealth Management Inc. boosted its stake in Northrop Grumman by 6.8% during the fourth quarter. Evolution Wealth Management Inc. now owns 235 shares of the aerospace company's stock worth $134,000 after buying an additional 15 shares in the last quarter. Golden State Equity Partners increased its holdings in Northrop Grumman by 1.2% in the 4th quarter. Golden State Equity Partners now owns 1,337 shares of the aerospace company's stock valued at $762,000 after buying an additional 16 shares during the period. Diversified Portfolios Inc. increased its holdings in Northrop Grumman by 0.9% in the 4th quarter. Diversified Portfolios Inc. now owns 1,789 shares of the aerospace company's stock valued at $1,020,000 after buying an additional 16 shares during the period. Finally, South Plains Financial Inc. raised its stake in shares of Northrop Grumman by 1.8% in the 4th quarter. South Plains Financial Inc. now owns 896 shares of the aerospace company's stock valued at $511,000 after buying an additional 16 shares in the last quarter. Institutional investors own 83.40% of the company's stock.
Insider Buying and Selling at Northrop Grumman
In other news, Director Mark A. Welsh III sold 95 shares of the stock in a transaction 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 sale, the director owned 4,393 shares of the company's stock, valued at $2,405,299.29. This represents a 2.12% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.21% of the stock is owned by company insiders.
Analyst Upgrades and Downgrades
NOC has been the subject of a number of analyst reports. Susquehanna reduced 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. Sanford C. Bernstein restated a "market perform" rating and set a $653.00 price target on shares of Northrop Grumman in a research note on Wednesday, August 5th. The Goldman Sachs Group lowered their price objective on Northrop Grumman from $603.00 to $533.00 and set a "neutral" rating on the stock in a research note on Tuesday, July 14th. Jefferies Financial Group dropped their target price on Northrop Grumman from $620.00 to $580.00 and set a "hold" rating for the company in a report on Friday, June 26th. Finally, TD Cowen cut their target price on Northrop Grumman from $580.00 to $550.00 and set a "hold" rating for the company in a research report on Wednesday, July 22nd. One investment analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and eight have assigned a Hold rating to the company's stock. According to MarketBeat, Northrop Grumman presently has a consensus rating of "Moderate Buy" and a consensus target price of $659.30.
View Our Latest Analysis on NOC
Northrop Grumman Stock Down 2.6%
Shares of Northrop Grumman stock opened at $570.59 on Tuesday. Northrop Grumman Corporation has a 1 year low of $479.02 and a 1 year high of $774.00. The business has a 50-day moving average of $539.49 and a two-hundred day moving average of $612.84. The company has a market capitalization of $81.04 billion, a P/E ratio of 18.13, a price-to-earnings-growth ratio of 3.79 and a beta of -0.11. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.17 and a quick ratio of 1.06.
Northrop Grumman (NYSE:NOC - Get Free Report) last released its quarterly earnings data on Tuesday, July 21st. The aerospace company reported $7.68 earnings per share for the quarter, beating the consensus estimate of $6.82 by $0.86. Northrop Grumman had a return on equity of 24.25% and a net margin of 10.48%.The business had revenue of $10.88 billion for the quarter, compared to analysts' expectations of $10.80 billion. During the same quarter in the previous year, the business posted $8.15 EPS. Northrop Grumman's revenue for the quarter was up 5.1% on a year-over-year basis. Northrop Grumman has set its FY 2026 guidance at 28.600-29.100 EPS. As a group, equities analysts predict that Northrop Grumman Corporation will post 28.97 EPS for the current year.
Northrop Grumman Profile
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Free Report)
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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