Paloma Partners Management Co cut its position in Northrop Grumman Corporation (NYSE:NOC) by 43.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 15,489 shares of the aerospace company’s stock after selling 11,924 shares during the period. Paloma Partners Management Co’s holdings in Northrop Grumman Corporation were worth $3,684,000 as of its most recent filing with the SEC.
Several other institutional investors have also made changes to their positions in the company. Vident Investment Advisory LLC boosted its position in Northrop Grumman Corporation by 18.8% in the fourth quarter. Vident Investment Advisory LLC now owns 5,713 shares of the aerospace company’s stock valued at $1,329,000 after buying an additional 906 shares during the last quarter. Ibex Wealth Advisors boosted its position in Northrop Grumman Corporation by 8.3% in the fourth quarter. Ibex Wealth Advisors now owns 5,146 shares of the aerospace company’s stock worth $1,194,000 after buying an additional 394 shares in the last quarter. Perigon Wealth Management LLC boosted its position in Northrop Grumman Corporation by 6.8% in the fourth quarter. Perigon Wealth Management LLC now owns 531 shares of the aerospace company’s stock worth $129,000 after buying an additional 34 shares in the last quarter. USA Financial Portformulas Corp purchased a new position in Northrop Grumman Corporation during the fourth quarter worth approximately $560,000. Finally, Pegasus Partners Ltd. boosted its position in Northrop Grumman Corporation by 6.3% in the fourth quarter. Pegasus Partners Ltd. now owns 4,273 shares of the aerospace company’s stock worth $994,000 after buying an additional 255 shares in the last quarter. Hedge funds and other institutional investors own 82.08% of the company’s stock.
Shares of Northrop Grumman Corporation (NYSE:NOC) traded down 0.47% during trading on Friday, reaching $269.28. 701,394 shares of the company traded hands. The firm has a 50 day moving average of $263.45 and a 200 day moving average of $249.38. The stock has a market capitalization of $46.88 billion, a PE ratio of 20.57 and a beta of 0.66. Northrop Grumman Corporation has a 52 week low of $206.69 and a 52 week high of $274.61.
Northrop Grumman Corporation (NYSE:NOC) last released its quarterly earnings data on Wednesday, July 26th. The aerospace company reported $3.15 EPS for the quarter, topping 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 for the quarter, compared to analyst estimates of $6.21 billion. During the same period in the previous year, the firm earned $2.85 EPS. The business’s revenue for the quarter was up 6.3% compared to the same quarter last year. On average, equities analysts predict that Northrop Grumman Corporation will post $12.55 EPS for the current year.
A number of research firms recently commented on NOC. BidaskClub raised Northrop Grumman Corporation from a “hold” rating to a “buy” rating in a research note on Saturday. Morgan Stanley assumed coverage on shares of Northrop Grumman Corporation in a research report on Tuesday. They set an “equal weight” rating and a $279.00 price target for the company. Argus upped their price target on shares of Northrop Grumman Corporation from $270.00 to $295.00 and gave the company a “buy” rating in a research report on Friday, August 4th. Deutsche Bank AG restated a “buy” rating and issued a $285.00 price objective (up from $275.00) on shares of Northrop Grumman Corporation in a report on Thursday, July 27th. Finally, Stifel Nicolaus restated a “hold” rating and issued a $255.00 price objective (up from $245.00) on shares of Northrop Grumman Corporation in a report on Thursday, July 27th. Seven equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. The company has an average rating of “Buy” and an average price target of $259.93.
In other Northrop Grumman Corporation news, VP Sid Ashworth sold 3,847 shares of the company’s stock in a transaction dated Wednesday, June 14th. The shares were sold at an average price of $260.00, for a total value of $1,000,220.00. Following the transaction, the vice president now directly owns 69,458 shares in the company, valued at approximately $18,059,080. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, VP Lisa R. Davis sold 367 shares of the stock in a transaction dated Tuesday, August 1st. The stock was sold at an average price of $263.25, for a total transaction of $96,612.75. Following the transaction, the vice president now owns 961 shares in the company, valued at $252,983.25. The disclosure for this sale can be found here. 0.70% of the stock is owned by insiders.
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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