Edge Asset Management Inc. lowered its position in Northrop Grumman Corporation (NYSE:NOC) by 4.8% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 146,672 shares of the aerospace company’s stock after selling 7,330 shares during the period. Edge Asset Management Inc. owned 0.08% of Northrop Grumman Corporation worth $34,884,000 as of its most recent SEC filing.
Several other institutional investors also recently added to or reduced their stakes in the company. Arrowstreet Capital Limited Partnership bought a new position in Northrop Grumman Corporation during the fourth quarter worth about $71,294,000. Cigna Investments Inc. New bought a new position in Northrop Grumman Corporation during the fourth quarter worth about $1,518,000. L & S Advisors Inc bought a new position in Northrop Grumman Corporation during the fourth quarter worth about $2,907,000. Capital International Inc. CA bought a new position in Northrop Grumman Corporation during the fourth quarter worth about $1,256,000. Finally, Ladenburg Thalmann Financial Services Inc. raised its position in Northrop Grumman Corporation by 66.6% in the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 20,308 shares of the aerospace company’s stock worth $4,725,000 after buying an additional 8,121 shares in the last quarter. 81.80% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Northrop Grumman Corporation (NOC) traded up 1.28% on Friday, hitting $264.10. The company had a trading volume of 588,212 shares. The stock has a market cap of $46.10 billion, a PE ratio of 20.66 and a beta of 0.67. The company has a 50-day moving average of $260.62 and a 200 day moving average of $246.81. Northrop Grumman Corporation has a 12 month low of $206.69 and a 12 month high of $266.74.
Northrop Grumman Corporation (NYSE:NOC) last released its earnings results on Wednesday, July 26th. The aerospace company reported $3.15 EPS for the quarter, beating the consensus estimate of $2.84 by $0.31. Northrop Grumman Corporation had a net margin of 9.20% and a return on equity of 39.22%. The business had revenue of $6.38 billion during the quarter, compared to analyst estimates of $6.21 billion. During the same period in the prior year, the business earned $2.85 earnings per share. The business’s quarterly revenue was up 6.3% on a year-over-year basis. Analysts anticipate that Northrop Grumman Corporation will post $12.46 EPS for the current fiscal year.
A number of research firms recently issued reports on NOC. Cowen and Company reissued a “hold” rating and set a $275.00 price target on shares of Northrop Grumman Corporation in a report on Monday, July 17th. Deutsche Bank AG restated a “buy” rating and issued a $285.00 price objective (up previously from $275.00) on shares of Northrop Grumman Corporation in a research report on Thursday. Stifel Nicolaus restated a “hold” rating and issued a $255.00 price objective (up previously from $245.00) on shares of Northrop Grumman Corporation in a research report on Thursday. Jefferies Group LLC restated a “hold” rating and issued a $243.00 price objective on shares of Northrop Grumman Corporation in a research report on Wednesday, June 21st. Finally, Vertical Research upgraded shares of Northrop Grumman Corporation from a “hold” rating to a “buy” rating and raised their price objective for the company from $254.00 to $270.00 in a research report on Wednesday, May 10th. Six equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Northrop Grumman Corporation currently has a consensus rating of “Buy” and a consensus price target of $255.42.
In related news, VP Sid Ashworth sold 3,847 shares of the stock in a transaction that occurred on Wednesday, June 14th. The shares were sold at an average price of $260.00, for a total transaction of $1,000,220.00. Following the completion of the sale, the vice president now directly owns 69,458 shares of the company’s stock, valued at $18,059,080. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Wesley G. Bush sold 33,976 shares of the stock in a transaction that occurred on Wednesday, May 3rd. The shares were sold at an average price of $244.74, for a total transaction of $8,315,286.24. Following the sale, the chief executive officer now directly owns 1 shares of the company’s stock, valued at $244.74. The disclosure for this sale can be found here. Over the last three months, insiders have sold 67,563 shares of company stock valued at $16,750,506. Company insiders own 0.70% of the company’s stock.
About Northrop Grumman Corporation
Northrop Grumman Corporation is a global security company. The Company provides products, systems and solutions in autonomous systems; cyber; command, control, communications and computers, intelligence, surveillance and reconnaissance (C4ISR); strike, and logistics and modernization. The Company’s segments include Aerospace Systems, Mission Systems and Technology Services.
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