Comerica Bank Sells 3,177 Shares of Northrop Grumman Corporation (NOC)

Comerica Bank reduced its holdings in shares of Northrop Grumman Corporation (NYSE:NOC) by 4.3% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 71,500 shares of the aerospace company’s stock after selling 3,177 shares during the period. Comerica Bank’s holdings in Northrop Grumman Corporation were worth $21,190,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Salem Investment Counselors Inc. grew its position in Northrop Grumman Corporation by 1.2% during the second quarter. Salem Investment Counselors Inc. now owns 812 shares of the aerospace company’s stock valued at $208,000 after acquiring an additional 10 shares during the last quarter. Cetera Investment Advisers grew its position in Northrop Grumman Corporation by 0.8% during the second quarter. Cetera Investment Advisers now owns 1,278 shares of the aerospace company’s stock valued at $328,000 after acquiring an additional 10 shares during the last quarter. Bank of Stockton grew its position in Northrop Grumman Corporation by 0.9% during the second quarter. Bank of Stockton now owns 1,294 shares of the aerospace company’s stock valued at $332,000 after acquiring an additional 12 shares during the last quarter. Eqis Capital Management Inc. grew its position in Northrop Grumman Corporation by 1.0% during the second quarter. Eqis Capital Management Inc. now owns 1,318 shares of the aerospace company’s stock valued at $338,000 after acquiring an additional 13 shares during the last quarter. Finally, Perigon Wealth Management LLC grew its position in Northrop Grumman Corporation by 2.8% during the first quarter. Perigon Wealth Management LLC now owns 546 shares of the aerospace company’s stock valued at $130,000 after acquiring an additional 15 shares during the last quarter. Institutional investors and hedge funds own 81.93% of the company’s stock.

In other Northrop Grumman Corporation news, VP Denise M. Peppard sold 2,328 shares of the firm’s stock in a transaction on Monday, November 6th. The stock was sold at an average price of $300.86, for a total transaction of $700,402.08. Following the completion of the transaction, the vice president now owns 28,553 shares of the company’s stock, valued at $8,590,455.58. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Denise M. Peppard sold 5,037 shares of the firm’s stock in a transaction on Wednesday, November 1st. The shares were sold at an average price of $295.67, for a total value of $1,489,289.79. Following the transaction, the vice president now directly owns 58,186 shares of the company’s stock, valued at approximately $17,203,854.62. The disclosure for this sale can be found here. Insiders sold 13,676 shares of company stock valued at $4,070,370 in the last ninety days. 0.70% of the stock is currently owned by insiders.

ILLEGAL ACTIVITY NOTICE: This story was posted by Markets Daily and is owned by of Markets Daily. If you are viewing this story on another publication, it was illegally stolen and republished in violation of U.S. & international trademark & copyright law. The correct version of this story can be viewed at https://www.themarketsdaily.com/2017/11/14/comerica-bank-sells-3177-shares-of-northrop-grumman-corporation-noc.html.

Shares of Northrop Grumman Corporation (NOC) traded up $1.13 during mid-day trading on Tuesday, reaching $299.61. The company had a trading volume of 197,165 shares, compared to its average volume of 778,929. Northrop Grumman Corporation has a 12 month low of $220.72 and a 12 month high of $306.61. The stock has a market capitalization of $51,898.02, a price-to-earnings ratio of 22.72, a price-to-earnings-growth ratio of 3.00 and a beta of 0.70. The company has a debt-to-equity ratio of 0.96, a current ratio of 1.21 and a quick ratio of 1.05.

Northrop Grumman Corporation (NYSE:NOC) last announced its quarterly earnings results on Wednesday, October 25th. The aerospace company reported $3.68 EPS for the quarter, topping analysts’ consensus estimates of $2.92 by $0.76. Northrop Grumman Corporation had a return on equity of 39.76% and a net margin of 9.24%. The company had revenue of $6.53 billion during the quarter, compared to analyst estimates of $6.33 billion. During the same quarter last year, the firm posted $3.35 earnings per share. The firm’s revenue was up 6.0% on a year-over-year basis. research analysts predict that Northrop Grumman Corporation will post 13.2 EPS for the current year.

A number of analysts have recently weighed in on NOC shares. Zacks Investment Research lowered Northrop Grumman Corporation from a “buy” rating to a “hold” rating in a research note on Thursday, November 9th. Bank of America Corporation set a $350.00 price objective on Northrop Grumman Corporation and gave the company a “buy” rating in a research note on Friday, October 27th. Stifel Nicolaus increased their price objective on Northrop Grumman Corporation from $255.00 to $300.00 and gave the company a “hold” rating in a research note on Friday, October 27th. Cowen and Company reissued a “hold” rating and set a $300.00 price objective (up previously from $275.00) on shares of Northrop Grumman Corporation in a research note on Thursday, October 26th. Finally, Goldman Sachs Group, Inc. (The) set a $320.00 price objective on Northrop Grumman Corporation and gave the company a “buy” rating in a research note on Thursday, October 26th. Seven research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $292.01.

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.

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

Receive News & Ratings for Northrop Grumman Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Northrop Grumman Corporation and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply