In the first quarter of this year, Moore Capital Management LP made a noteworthy move by acquiring a new position in Northrop Grumman Co. (NYSE:NOC), as revealed in its latest disclosure to the Securities and Exchange Commission. The fund obtained 33,198 shares of Northrop Grumman’s stock, which were valued at a total of approximately $15,328,000.
Northrop Grumman, the aerospace company in question, recently announced its earnings results ending on July 27th. The company reported an impressive earnings per share (EPS) of $5.34 for the quarter. This figure surpassed analysts’ consensus estimates by $0.03. Furthermore, Northrop Grumman demonstrated a return on equity of 24.90% and achieved a net margin of 12.27%. In terms of revenue, the company generated $9.58 billion during this period, surpassing projections that pegged it at $9.32 billion.
Equities analysts have expressed positive expectations for Northrop Grumman’s performance throughout the current year. On average, they anticipate that the company will post earnings per share of 22.63 for the entirety of 2023.
This recent development indicates Moore Capital Management LP’s confidence in Northrop Grumman as an investment opportunity within the aerospace sector. It is worth noting that acquisitions can highlight potential growth prospects and signify trust in a company’s financial performance.
Investors and industry observers will likely keep a close eye on both Moore Capital Management LP and Northrop Grumman to gauge future developments and assess their impact on the market and investment landscapes.
It is important to exercise caution when considering any investment decisions based on this information as it is subject to change due to market fluctuations and other factors influencing stock prices.
Stock Holdings & Analyst Ratings: Northrop Grumman’s Recent Changes and Outlook
Northrop Grumman, an aerospace company, has recently seen changes in its stock holdings by institutional investors and hedge funds. Principal Financial Group Inc. increased its position in the company by 0.5% in the first quarter, now owning 177,660 shares worth $82,029,000. Independent Advisor Alliance purchased a new stake worth approximately $3,023,000 during the same period. Pathstone Family Office LLC also grew its position in Northrop Grumman by 7.9% during the fourth quarter, now owning 4,957 shares worth $4,391,000. Banco Bilbao Vizcaya Argentaria S.A. saw a growth of 19.7% in their position during the first quarter and now holds 16,380 shares worth $7,562,000. Lastly, Wesbanco Bank Inc. increased its position by 1.5% during the first quarter and now owns 1,804 shares worth $832,000. Hedge funds and other institutional investors currently hold 82.40% of Northrop Grumman’s stock.
Analysts have also given their input on the company’s stock value and performance. Royal Bank of Canada reaffirmed an “outperform” rating with a target price of $500.00 for Northrop Grumman in August this year. Sanford C Bernstein analysts dropped their target price from $581 to $569 at the end of June while Citigroup decreased theirs from $502 to $485 with a “neutral” rating on the stock at the end of July. Bank of America also lowered their price objective from $655 to $615 with a “buy” rating on the stock at the end of July as well. StockNews.com upgraded Northrop Grumman’s rating from “hold” to “buy” on September 5th.
In other news related to Northrop Grumman, Vice President Mark A. Caylor sold 1,670 shares of the company’s stock on August 7th at an average price of $437.87, totaling to $731,242.90 in transactions. Following the sale, Caylor now holds 14,570 shares valued at approximately $6,379,765.90.
At present, Northrop Grumman’s stock (NYSE: NOC) is trading at $422.72 as of September 10th with a trading volume of 768,088 shares. The stock has a fifty-day simple moving average of $441.41 and a two-hundred-day simple moving average of $450.72. Its 12-month low stands at $420.95 while the high is at $556.27. The company has a quick ratio of 1.09 and a current ratio of 1.20 with a debt-to-equity ratio of 0.89. With a market cap of $63.96 billion and a P/E ratio of 14.00, Northrop Grumman shows promising growth potential and remains an important player in the aerospace industry.
In conclusion, Northrop Grumman has experienced modifications in its stock holdings by institutional investors and hedge funds while receiving mixed ratings from analysts concerning its performance and value in the market.