MAI Capital Management Has $3.31 Million Holdings in Northrop Grumman Co. (NYSE:NOC)

MAI Capital Management cut its stake in shares of Northrop Grumman Co. (NYSE:NOC) by 18.5% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 6,260 shares of the aerospace company’s stock after selling 1,417 shares during the period. MAI Capital Management’s holdings in Northrop Grumman were worth $3,306,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Glass Wealth Management Co LLC grew its stake in Northrop Grumman by 3.3% in the third quarter. Glass Wealth Management Co LLC now owns 8,025 shares of the aerospace company’s stock valued at $4,238,000 after acquiring an additional 255 shares during the period. Claro Advisors LLC grew its stake in Northrop Grumman by 24.2% in the third quarter. Claro Advisors LLC now owns 2,467 shares of the aerospace company’s stock valued at $1,303,000 after acquiring an additional 480 shares during the period. Chesapeake Capital Corp IL acquired a new position in Northrop Grumman in the third quarter valued at about $759,000. BCGM Wealth Management LLC grew its stake in Northrop Grumman by 1.0% in the third quarter. BCGM Wealth Management LLC now owns 6,312 shares of the aerospace company’s stock valued at $3,333,000 after acquiring an additional 62 shares during the period. Finally, River Street Advisors LLC grew its stake in Northrop Grumman by 2.2% in the third quarter. River Street Advisors LLC now owns 1,308 shares of the aerospace company’s stock valued at $691,000 after acquiring an additional 28 shares during the period. 83.40% of the stock is owned by institutional investors and hedge funds.

Northrop Grumman Stock Performance

NOC opened at $490.86 on Wednesday. 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 business’s 50-day simple moving average is $521.97 and its 200 day simple moving average is $486.44. The firm has a market capitalization of $71.52 billion, a PE ratio of 30.41, a PEG ratio of 1.00 and a beta of 0.35. Northrop Grumman Co. has a 52-week low of $418.60 and a 52-week high of $555.57.

Northrop Grumman (NYSE:NOC) last released its quarterly earnings data on Thursday, October 24th. The aerospace company reported $7.00 earnings per share (EPS) for the quarter, beating the consensus estimate 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 return on equity of 26.57% and a net margin of 5.79%. The business’s revenue for the quarter was up 2.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $6.18 earnings per share. As a group, sell-side analysts expect that Northrop Grumman Co. will post 25.93 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

NOC has been the subject of a number of research analyst reports. Susquehanna boosted their target price on Northrop Grumman from $560.00 to $625.00 and gave the company a “positive” rating in a research note on Friday, October 25th. Wells Fargo & Company boosted their price target on Northrop Grumman from $509.00 to $565.00 and gave the company an “equal weight” rating in a report on Friday, October 25th. Deutsche Bank Aktiengesellschaft upgraded Northrop Grumman from a “hold” rating to a “buy” rating and boosted their price target for the company from $474.00 to $575.00 in a report on Monday, July 29th. Barclays boosted their price target on Northrop Grumman from $500.00 to $550.00 and gave the company an “equal weight” rating in a report on Tuesday, October 29th. Finally, Citigroup boosted their price target on Northrop Grumman from $521.00 to $587.00 and gave the company a “neutral” rating in a report on Thursday, October 10th. 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 stock. According to data from MarketBeat, Northrop Grumman has an average rating of “Hold” and a consensus price target of $550.56.

Insider Buying and Selling at Northrop Grumman

In other Northrop Grumman news, VP Benjamin R. Davies sold 1,156 shares of the company’s stock in a transaction that occurred on 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders have sold 1,289 shares of company stock worth $685,273 over the last 90 days. Company insiders own 0.22% of the company’s stock.

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.