Northrop Grumman Co. (NYSE:NOC) Position Reduced by Welch & Forbes LLC

Welch & Forbes LLC trimmed its stake in shares of Northrop Grumman Co. (NYSE:NOC) by 2.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 8,281 shares of the aerospace company’s stock after selling 200 shares during the quarter. Welch & Forbes LLC’s holdings in Northrop Grumman were worth $2,676,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. CHURCHILL MANAGEMENT Corp bought a new position in Northrop Grumman during the 2nd quarter valued at $9,784,000. Sciencast Management LP acquired a new stake in shares of Northrop Grumman during the first quarter worth $2,442,000. Trust Co. of Toledo NA OH acquired a new stake in shares of Northrop Grumman during the first quarter worth $231,000. Virtu Financial LLC acquired a new stake in shares of Northrop Grumman during the first quarter worth $2,041,000. Finally, First Personal Financial Services raised its holdings in shares of Northrop Grumman by 6.5% during the first quarter. First Personal Financial Services now owns 658 shares of the aerospace company’s stock worth $177,000 after purchasing an additional 40 shares during the period. Hedge funds and other institutional investors own 83.61% of the company’s stock.

NOC has been the topic of a number of research reports. Robert W. Baird increased their target price on shares of Northrop Grumman from $300.00 to $364.00 and gave the stock an “outperform” rating in a report on Wednesday, July 10th. Barclays increased their target price on shares of Northrop Grumman from $325.00 to $340.00 and gave the stock an “overweight” rating in a report on Thursday, May 16th. UBS Group increased their target price on shares of Northrop Grumman from $300.00 to $330.00 and gave the stock a “neutral” rating in a report on Wednesday, July 10th. Susquehanna Bancshares raised shares of Northrop Grumman from a “neutral” rating to a “positive” rating and increased their target price for the stock from $309.00 to $315.00 in a report on Friday, April 5th. Finally, Morgan Stanley increased their target price on shares of Northrop Grumman from $308.00 to $335.00 and gave the stock an “equal weight” rating in a report on Friday, June 14th. Six equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Northrop Grumman has a consensus rating of “Buy” and an average target price of $340.40.

Shares of NOC stock traded up $4.23 during trading hours on Thursday, reaching $349.80. The stock had a trading volume of 16,951 shares, compared to its average volume of 740,907. The company has a quick ratio of 1.15, a current ratio of 1.25 and a debt-to-equity ratio of 1.62. Northrop Grumman Co. has a twelve month low of $223.63 and a twelve month high of $358.96. The company’s 50-day simple moving average is $325.36. The company has a market cap of $60.14 billion, a price-to-earnings ratio of 16.37, a PEG ratio of 1.46 and a beta of 0.80.

Northrop Grumman (NYSE:NOC) last released its quarterly earnings data on Wednesday, July 24th. The aerospace company reported $5.06 earnings per share for the quarter, topping the Zacks’ consensus estimate of $4.64 by $0.42. Northrop Grumman had a net margin of 9.80% and a return on equity of 42.21%. The business had revenue of $8.46 billion for the quarter, compared to analysts’ expectations of $8.41 billion. During the same quarter last year, the company earned $4.50 EPS. The company’s revenue for the quarter was up 18.8% compared to the same quarter last year. Analysts predict that Northrop Grumman Co. will post 19.6 EPS for the current year.

In related news, Chairman Wesley G. Bush sold 50,000 shares of the stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $291.59, for a total value of $14,579,500.00. Following the completion of the transaction, the chairman now owns 46,275 shares in the company, valued at approximately $13,493,327.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Kathy J. Warden sold 6,837 shares of the stock in a transaction dated Monday, July 29th. The shares were sold at an average price of $353.46, for a total transaction of $2,416,606.02. Following the completion of the transaction, the chief executive officer now owns 99,002 shares of the company’s stock, valued at approximately $34,993,246.92. The disclosure for this sale can be found here. In the last ninety days, insiders sold 64,740 shares of company stock worth $19,666,996. Corporate insiders own 0.45% of the company’s stock.

Northrop Grumman Company Profile

Northrop Grumman Corporation, a security company, provides products in the areas of autonomous systems, cyber, space, strikes, and logistics and modernizations in the United States, the Asia Pacific, and internationally. The company operates through four segments: Aerospace Systems, Innovation Systems, Mission Systems, and Technology Services.

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

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