Reliance Trust Co. of Delaware continued to hold its stake in shares of Northrop Grumman Corporation (NYSE:NOC) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,215 shares of the aerospace company’s stock at the end of the second quarter. Reliance Trust Co. of Delaware’s holdings in Northrop Grumman Corporation were worth $1,082,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently modified their holdings of the company. Park Avenue Securities LLC bought a new stake in shares of Northrop Grumman Corporation during the second quarter worth about $243,000. Bristlecone Advisors LLC boosted its stake in shares of Northrop Grumman Corporation by 2.0% in the second quarter. Bristlecone Advisors LLC now owns 10,273 shares of the aerospace company’s stock worth $2,637,000 after buying an additional 205 shares during the period. Steinberg Global Asset Management boosted its stake in shares of Northrop Grumman Corporation by 1.3% in the second quarter. Steinberg Global Asset Management now owns 3,138 shares of the aerospace company’s stock worth $806,000 after buying an additional 40 shares during the period. FineMark National Bank & Trust boosted its stake in shares of Northrop Grumman Corporation by 0.8% in the second quarter. FineMark National Bank & Trust now owns 4,015 shares of the aerospace company’s stock worth $1,031,000 after buying an additional 33 shares during the period. Finally, Valicenti Advisory Services Inc. boosted its stake in shares of Northrop Grumman Corporation by 5.0% in the second quarter. Valicenti Advisory Services Inc. now owns 10,276 shares of the aerospace company’s stock worth $2,638,000 after buying an additional 491 shares during the period. 82.08% of the stock is currently owned by institutional investors and hedge funds.

Northrop Grumman Corporation (NOC) opened at 269.58 on Tuesday. The stock’s 50 day moving average price is $261.05 and its 200 day moving average price is $247.53. Northrop Grumman Corporation has a 12 month low of $206.69 and a 12 month high of $269.73. The company has a market capitalization of $46.93 billion, a price-to-earnings ratio of 20.59 and a beta of 0.66.

Northrop Grumman Corporation (NYSE:NOC) last announced its quarterly earnings data on Wednesday, July 26th. The aerospace company reported $3.15 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.84 by $0.31. Northrop Grumman Corporation had a return on equity of 39.22% and a net margin of 9.20%. The business had revenue of $6.38 billion for the quarter, compared to the consensus estimate of $6.21 billion. During the same period in the previous year, the business earned $2.85 earnings per share. The business’s revenue was up 6.3% on a year-over-year basis. Equities research analysts anticipate that Northrop Grumman Corporation will post $12.56 earnings per share for the current fiscal year.

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A number of brokerages recently issued reports on NOC. Argus increased their price objective on Northrop Grumman Corporation from $270.00 to $295.00 and gave the stock a “buy” rating in a report on Friday. BidaskClub cut Northrop Grumman Corporation from a “buy” rating to a “hold” rating in a report on Monday, July 31st. Deutsche Bank AG reissued a “buy” rating and set a $285.00 price objective (up previously from $275.00) on shares of Northrop Grumman Corporation in a report on Thursday, July 27th. Stifel Nicolaus reissued a “hold” rating and set a $255.00 price objective (up previously from $245.00) on shares of Northrop Grumman Corporation in a report on Thursday, July 27th. Finally, Cowen and Company reissued a “hold” rating and set a $275.00 price objective on shares of Northrop Grumman Corporation in a report on Monday, July 17th. Seven equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $258.47.

In related news, VP Thomas E. Vice sold 29,740 shares of the business’s stock in a transaction dated Wednesday, May 10th. The stock was sold at an average price of $250.00, for a total value of $7,435,000.00. Following the sale, the vice president now directly owns 72,453 shares in the company, valued at $18,113,250. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP Sid Ashworth sold 3,847 shares of the business’s stock in a transaction dated Wednesday, June 14th. The stock was sold at an average price of $260.00, for a total value of $1,000,220.00. Following the completion of 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. Insiders sold 33,954 shares of company stock worth $8,531,833 over the last 90 days. Company insiders own 0.70% of the company’s stock.

Northrop Grumman Corporation Company Profile

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

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