Andra AP fonden trimmed its holdings in shares of Northrop Grumman Co. (NYSE:NOC) by 15.9% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 23,800 shares of the aerospace company’s stock after selling 4,500 shares during the quarter. Andra AP fonden’s holdings in Northrop Grumman were worth $7,553,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also bought and sold shares of NOC. Bay Colony Advisory Group Inc d b a Bay Colony Advisors acquired a new position in shares of Northrop Grumman in the 2nd quarter worth approximately $114,000. Meeder Asset Management Inc. acquired a new position in shares of Northrop Grumman in the 2nd quarter worth approximately $115,000. Fort L.P. acquired a new position in shares of Northrop Grumman in the 2nd quarter worth approximately $117,000. Kaizen Advisory LLC lifted its position 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 worth $133,000 after purchasing an additional 264 shares during the period. Finally, Sun Life Financial INC lifted its position 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 worth $145,000 after purchasing an additional 196 shares during the period. 81.51% of the stock is currently owned by hedge funds and other institutional investors.
A number of research analysts have recently issued reports on the stock. Zacks Investment Research upgraded shares of Northrop Grumman from a “hold” rating to a “buy” rating and set a $352.00 price target on the stock in a research report on Thursday, October 11th. Credit Suisse Group boosted their price target on shares of Northrop Grumman from $326.00 to $341.00 and gave the stock a “neutral” rating in a research report on Wednesday, June 27th. Stifel Nicolaus restated a “hold” rating and issued a $300.00 price target on shares of Northrop Grumman in a research report on Thursday, July 26th. Goldman Sachs Group dropped their price target on shares of Northrop Grumman to $414.00 and set a “conviction-buy” rating on the stock in a research report on Thursday, July 26th. Finally, JPMorgan Chase & Co. dropped their price target on shares of Northrop Grumman from $375.00 to $360.00 and set an “overweight” rating on the stock in a research report on Friday, July 27th. Seven analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $366.65.
Northrop Grumman (NYSE:NOC) last released its earnings results on Wednesday, July 25th. The aerospace company reported $3.93 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $3.84 by $0.09. Northrop Grumman had a net margin of 8.33% and a return on equity of 34.88%. The company had revenue of $7.12 billion for the quarter, compared to the consensus estimate of $7.10 billion. During the same quarter in the previous year, the company earned $3.16 EPS. Northrop Grumman’s quarterly revenue was up 10.0% compared to the same quarter last year. On average, equities research analysts expect that Northrop Grumman Co. will post 16.88 EPS for the current fiscal year.
In other Northrop Grumman news, VP Sheila C. Cheston sold 10,440 shares of the business’s stock in a transaction on Wednesday, October 3rd. The shares were sold at an average price of $320.00, for a total transaction of $3,340,800.00. Following the completion of the sale, the vice president now owns 43,696 shares in the company, valued at approximately $13,982,720. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Wesley G. Bush sold 20,000 shares of the business’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 sale, the chairman now owns 18,701 shares of the company’s stock, valued at approximately $5,571,214.91. The disclosure for this sale can be found here. Insiders have sold a total of 47,052 shares of company stock worth $14,323,601 in the last quarter. 0.62% of the stock is owned by corporate insiders.
About Northrop Grumman
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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