Boston Partners Lowers Position in Northrop Grumman Corporation (NOC)
Boston Partners reduced its stake in shares of Northrop Grumman Corporation (NYSE:NOC) by 0.7% during the second quarter, Holdings Channel reports. The institutional investor owned 323,067 shares of the aerospace company’s stock after selling 2,313 shares during the period. Boston Partners’ holdings in Northrop Grumman Corporation were worth $82,935,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Shelton Capital Management boosted its position in Northrop Grumman Corporation by 70.5% in the first quarter. Shelton Capital Management now owns 17,200 shares of the aerospace company’s stock valued at $4,091,000 after buying an additional 7,112 shares in the last quarter. Evermay Wealth Management LLC bought a new position in Northrop Grumman Corporation during the first quarter valued at about $286,000. Holderness Investments Co. boosted its position in Northrop Grumman Corporation by 38.6% in the first quarter. Holderness Investments Co. now owns 2,587 shares of the aerospace company’s stock valued at $615,000 after buying an additional 720 shares in the last quarter. Renaissance Technologies LLC boosted its position in Northrop Grumman Corporation by 331.4% in the first quarter. Renaissance Technologies LLC now owns 989,200 shares of the aerospace company’s stock valued at $235,271,000 after buying an additional 759,900 shares in the last quarter. Finally, Los Angeles Capital Management & Equity Research Inc. boosted its position in Northrop Grumman Corporation by 0.6% in the first quarter. Los Angeles Capital Management & Equity Research Inc. now owns 13,418 shares of the aerospace company’s stock valued at $3,191,000 after buying an additional 84 shares in the last quarter. 81.80% of the stock is currently owned by institutional investors.
Northrop Grumman Corporation (NOC) opened at 271.14 on Wednesday. Northrop Grumman Corporation has a 1-year low of $206.69 and a 1-year high of $274.61. The stock has a 50 day moving average of $264.29 and a 200-day moving average of $250.26. The firm has a market capitalization of $47.20 billion, a P/E ratio of 20.71 and a beta of 0.66.
Northrop Grumman Corporation (NYSE:NOC) last issued its quarterly earnings data on Wednesday, July 26th. The aerospace company reported $3.15 EPS for the quarter, topping analysts’ consensus estimates 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 last year, the business posted $2.85 earnings per share. The firm’s quarterly revenue was up 6.3% on a year-over-year basis. On average, equities research analysts anticipate that Northrop Grumman Corporation will post $12.55 earnings per share for the current year.
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NOC has been the topic of several research reports. Deutsche Bank AG reaffirmed a “buy” rating and issued a $285.00 price target (up previously from $275.00) on shares of Northrop Grumman Corporation in a report on Thursday, July 27th. Cowen and Company reaffirmed a “hold” rating and issued a $275.00 price target on shares of Northrop Grumman Corporation in a report on Monday, July 17th. BidaskClub cut Northrop Grumman Corporation from a “buy” rating to a “hold” rating in a report on Monday, July 31st. Morgan Stanley initiated coverage on Northrop Grumman Corporation in a report on Tuesday, August 8th. They issued an “equal weight” rating and a $279.00 price target on the stock. Finally, Vertical Research raised Northrop Grumman Corporation from a “hold” rating to a “buy” rating and upped their price target for the company from $254.00 to $270.00 in a report on Wednesday, May 10th. Seven research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Northrop Grumman Corporation presently has a consensus rating of “Buy” and a consensus target price of $259.93.
In related news, VP Lisa R. Davis sold 367 shares of the firm’s stock in a transaction on Tuesday, August 1st. The shares were sold at an average price of $263.25, for a total transaction of $96,612.75. Following the sale, the vice president now directly owns 961 shares in the company, valued at $252,983.25. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Sid Ashworth sold 3,847 shares of the firm’s stock in a transaction on Wednesday, June 14th. The stock was sold at an average price of $260.00, for a total transaction of $1,000,220.00. Following the sale, the vice president now owns 69,458 shares in the company, valued at $18,059,080. The disclosure for this sale can be found here. 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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