Northrop Grumman Co. (NOC) Holdings Trimmed by Aperio Group LLC
Aperio Group LLC lowered its stake in shares of Northrop Grumman Co. (NYSE:NOC) by 5.5% during the third quarter, HoldingsChannel.com reports. The firm owned 125,961 shares of the aerospace company’s stock after selling 7,296 shares during the period. Aperio Group LLC’s holdings in Northrop Grumman were worth $39,976,000 at the end of the most recent quarter.
Other large investors also recently bought and sold shares of the company. Bay Colony Advisory Group Inc d b a Bay Colony Advisors purchased a new position in shares of Northrop Grumman in the 2nd quarter valued at $114,000. Meeder Asset Management Inc. purchased a new position in shares of Northrop Grumman in the 2nd quarter valued at $115,000. Fort L.P. purchased a new position in shares of Northrop Grumman in the 2nd quarter valued at $117,000. Kaizen Advisory LLC raised its stake in shares of Northrop Grumman by 156.2% in the 2nd quarter. Kaizen Advisory LLC now owns 433 shares of the aerospace company’s stock valued at $133,000 after acquiring an additional 264 shares during the period. Finally, Sun Life Financial INC raised its stake in shares of Northrop Grumman by 71.0% in the 2nd quarter. Sun Life Financial INC now owns 472 shares of the aerospace company’s stock valued at $145,000 after acquiring an additional 196 shares during the period. 81.51% of the stock is currently owned by institutional investors.
A number of brokerages have recently commented on NOC. Zacks Investment Research raised shares of Northrop Grumman from a “hold” rating to a “buy” rating and set a $352.00 target price on the stock in a research note on Thursday, October 11th. UBS Group began coverage on shares of Northrop Grumman in a research note on Wednesday, August 15th. They issued a “neutral” rating and a $315.00 target price on the stock. Buckingham Research raised shares of Northrop Grumman from a “neutral” rating to a “buy” rating and raised their target price for the company from $246.00 to $371.00 in a research note on Tuesday, July 31st. They noted that the move was a valuation call. Credit Suisse Group cut their target price on shares of Northrop Grumman from $341.00 to $326.00 and set a “neutral” rating on the stock in a research note on Friday, July 27th. Finally, JPMorgan Chase & Co. cut their target price on shares of Northrop Grumman from $375.00 to $360.00 and set an “overweight” rating on the stock in a research note on Friday, July 27th. Seven equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the stock. The company has an average rating of “Buy” and an average target price of $366.65.
Northrop Grumman (NYSE:NOC) last released its quarterly earnings results on Wednesday, July 25th. The aerospace company reported $3.93 earnings per share for the quarter, beating the Zacks’ consensus estimate of $3.84 by $0.09. The business had revenue of $7.12 billion during the quarter, compared to analyst estimates of $7.10 billion. Northrop Grumman had a net margin of 8.33% and a return on equity of 34.88%. The business’s revenue was up 10.0% on a year-over-year basis. During the same period last year, the business earned $3.16 EPS. Equities analysts forecast that Northrop Grumman Co. will post 16.88 earnings per share for the current year.
In related news, Chairman Wesley G. Bush sold 20,000 shares of the firm’s stock in a transaction on Thursday, August 2nd. The shares were sold at an average price of $297.91, for a total transaction of $5,958,200.00. Following the completion of the sale, the chairman now directly owns 18,701 shares of the company’s stock, valued at approximately $5,571,214.91. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP David T. Perry sold 4,425 shares of the firm’s stock in a transaction on Monday, July 30th. The shares were sold at an average price of $300.27, for a total transaction of $1,328,694.75. Following the sale, the vice president now directly owns 28,112 shares of the company’s stock, valued at $8,441,190.24. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 47,052 shares of company stock valued at $14,323,601. Company insiders own 0.62% of the company’s stock.
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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