Northrop Grumman Corp. (NOC) Stake Reduced by Beacon Trust Co.
Beacon Trust Co. decreased its position in Northrop Grumman Corp. (NYSE:NOC) by 16.8% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 58,683 shares of the company’s stock after selling 11,822 shares during the period. Northrop Grumman Corp. accounts for approximately 2.0% of Beacon Trust Co.’s investment portfolio, making the stock its 8th largest position. Beacon Trust Co.’s holdings in Northrop Grumman Corp. were worth $13,044,000 at the end of the most recent quarter.
A number of other hedge funds also recently bought and sold shares of NOC. Cullinan Associates Inc. boosted its stake in Northrop Grumman Corp. by 77.6% in the second quarter. Cullinan Associates Inc. now owns 2,487 shares of the company’s stock worth $553,000 after buying an additional 1,087 shares in the last quarter. Integrated Investment Consultants LLC boosted its stake in Northrop Grumman Corp. by 8.5% in the second quarter. Integrated Investment Consultants LLC now owns 700 shares of the company’s stock worth $156,000 after buying an additional 55 shares in the last quarter. SevenBridge Financial Group LLC bought a new stake in Northrop Grumman Corp. during the first quarter worth approximately $404,000. Chelsea Counsel Co. boosted its stake in Northrop Grumman Corp. by 0.5% in the first quarter. Chelsea Counsel Co. now owns 10,014 shares of the company’s stock valued at $1,981,000 after buying an additional 54 shares during the period. Finally, Lebenthal Asset Management LLC acquired a new stake in Northrop Grumman Corp. during the first quarter valued at approximately $1,119,000. Hedge funds and other institutional investors own 82.62% of the company’s stock.
Northrop Grumman Corp. (NYSE:NOC) opened at 247.50 on Monday. The firm has a market capitalization of $43.62 billion, a price-to-earnings ratio of 21.12 and a beta of 0.66. Northrop Grumman Corp. has a 12 month low of $175.00 and a 12 month high of $249.98. The firm has a 50 day moving average price of $222.03 and a 200-day moving average price of $217.11.
Northrop Grumman Corp. (NYSE:NOC) last announced its quarterly earnings data on Wednesday, October 26th. The company reported $3.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.81 by $0.54. The firm earned $6.20 billion during the quarter, compared to the consensus estimate of $6.01 billion. Northrop Grumman Corp. had a return on equity of 34.10% and a net margin of 8.96%. During the same period in the prior year, the business earned $2.75 EPS. The business’s revenue for the quarter was up 2.9% on a year-over-year basis. On average, equities analysts forecast that Northrop Grumman Corp. will post $11.72 EPS for the current year.
Several research firms have commented on NOC. Citigroup Inc. lifted their price target on Northrop Grumman Corp. from $235.00 to $243.00 and gave the company a “buy” rating in a report on Tuesday, September 6th. Zacks Investment Research upgraded Northrop Grumman Corp. from a “hold” rating to a “buy” rating and set a $252.00 price target for the company in a report on Friday, October 28th. Jefferies Group restated a “buy” rating and issued a $260.00 price target (up previously from $250.00) on shares of Northrop Grumman Corp. in a report on Friday, October 28th. Barclays PLC upgraded Northrop Grumman Corp. from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $230.00 to $270.00 in a report on Thursday. Finally, Vertical Research began coverage on Northrop Grumman Corp. in a report on Friday, October 28th. They issued a “hold” rating for the company. Seven investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Northrop Grumman Corp. presently has an average rating of “Buy” and a consensus price target of $236.16.
In other Northrop Grumman Corp. news, CEO Wesley G. Bush sold 35,000 shares of the company’s stock in a transaction dated Wednesday, November 2nd. The stock was sold at an average price of $228.37, for a total value of $7,992,950.00. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Christopher T. Jones sold 240 shares of the company’s stock in a transaction dated Thursday, September 1st. The stock was sold at an average price of $212.20, for a total value of $50,928.00. Following the completion of the transaction, the vice president now directly owns 47,780 shares in the company, valued at $10,138,916. The disclosure for this sale can be found here. 0.90% of the stock is owned by company insiders.
Northrop Grumman Corp. Company Profile
Northrop Grumman Corporation (Northrop Grumman) is a global security company. The Company provides systems, products and solutions in unmanned systems; cyber; command, control, communications and computers (C4), intelligence, surveillance, and reconnaissance (C4ISR); strike aircraft, and logistics and modernization to Government and commercial customers across the world.
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