Northrop Grumman Co. (NOC) Position Cut by St. Johns Investment Management Company LLC

St. Johns Investment Management Company LLC cut its position in shares of Northrop Grumman Co. (NYSE:NOC) by 5.6% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 3,204 shares of the aerospace company’s stock after selling 191 shares during the period. St. Johns Investment Management Company LLC’s holdings in Northrop Grumman were worth $785,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Diversified Trust Co raised its position in shares of Northrop Grumman by 3.9% in the fourth quarter. Diversified Trust Co now owns 1,034 shares of the aerospace company’s stock valued at $253,000 after buying an additional 39 shares during the last quarter. CHICAGO TRUST Co NA raised its position in shares of Northrop Grumman by 1.4% in the fourth quarter. CHICAGO TRUST Co NA now owns 3,500 shares of the aerospace company’s stock valued at $857,000 after buying an additional 50 shares during the last quarter. Rehmann Capital Advisory Group raised its position in shares of Northrop Grumman by 6.1% in the third quarter. Rehmann Capital Advisory Group now owns 1,003 shares of the aerospace company’s stock valued at $318,000 after buying an additional 58 shares during the last quarter. Mechanics Bank Trust Department raised its position in shares of Northrop Grumman by 1.6% in the fourth quarter. Mechanics Bank Trust Department now owns 4,040 shares of the aerospace company’s stock valued at $989,000 after buying an additional 64 shares during the last quarter. Finally, Wetherby Asset Management Inc. raised its position in shares of Northrop Grumman by 2.3% in the fourth quarter. Wetherby Asset Management Inc. now owns 3,289 shares of the aerospace company’s stock valued at $806,000 after buying an additional 74 shares during the last quarter. 87.31% of the stock is currently owned by institutional investors and hedge funds.

NOC has been the subject of a number of recent research reports. Wells Fargo & Co reduced their target price on shares of Northrop Grumman from $360.00 to $340.00 and set an “outperform” rating for the company in a research report on Thursday, October 25th. Stifel Nicolaus set a $280.00 target price on shares of Northrop Grumman and gave the company a “hold” rating in a research report on Thursday, October 25th. ValuEngine cut shares of Northrop Grumman from a “hold” rating to a “sell” rating in a research report on Friday, October 26th. Citigroup reduced their target price on shares of Northrop Grumman from $370.00 to $350.00 and set a “buy” rating for the company in a research report on Thursday, October 25th. Finally, Zacks Investment Research cut shares of Northrop Grumman from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 26th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and twelve have given a buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $336.94.

Northrop Grumman stock traded up $0.97 during midday trading on Monday, hitting $281.59. 19,619 shares of the stock were exchanged, compared to its average volume of 1,042,877. Northrop Grumman Co. has a fifty-two week low of $223.63 and a fifty-two week high of $360.88. The stock has a market cap of $47.63 billion, a P/E ratio of 13.21, a PEG ratio of 1.24 and a beta of 0.89. The company has a current ratio of 1.17, a quick ratio of 1.09 and a debt-to-equity ratio of 1.70.

Northrop Grumman (NYSE:NOC) last released its quarterly earnings data on Thursday, January 31st. The aerospace company reported $4.93 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $4.45 by $0.48. Northrop Grumman had a net margin of 9.73% and a return on equity of 41.24%. The firm had revenue of $8.16 billion during the quarter, compared to analysts’ expectations of $8.11 billion. During the same period last year, the business earned $2.82 earnings per share. As a group, analysts forecast that Northrop Grumman Co. will post 18.98 EPS for the current year.

Northrop Grumman announced that its board has initiated a stock buyback program on Tuesday, December 4th that permits the company to buyback $3.00 billion in shares. This buyback authorization permits the aerospace company to purchase up to 6.9% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s management believes its shares are undervalued.

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Northrop Grumman Profile

Northrop Grumman Corporation operates as a security company for government and commercial customers worldwide. It provides products, systems, and solutions in autonomous systems; cyber; command, control, communications and computers, intelligence, surveillance, and reconnaissance (C4ISR); strike; and logistics and modernization.

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Institutional Ownership by Quarter for Northrop Grumman (NYSE:NOC)

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