RNC Capital Management LLC Sells 29 Shares of Northrop Grumman Corporation (NOC)

RNC Capital Management LLC cut its position in Northrop Grumman Corporation (NYSE:NOC) by 3.3% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 850 shares of the aerospace company’s stock after selling 29 shares during the quarter. RNC Capital Management LLC’s holdings in Northrop Grumman Corporation were worth $218,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of the stock. WFG Advisors LP lifted its position in Northrop Grumman Corporation by 4.9% in the 2nd quarter. WFG Advisors LP now owns 594 shares of the aerospace company’s stock valued at $152,000 after purchasing an additional 28 shares during the last quarter. Toronto Dominion Bank lifted its position in Northrop Grumman Corporation by 25.2% in the 2nd quarter. Toronto Dominion Bank now owns 59,532 shares of the aerospace company’s stock valued at $15,280,000 after purchasing an additional 11,991 shares during the last quarter. Cetera Investment Advisers raised its position in shares of Northrop Grumman Corporation by 0.8% during the 2nd quarter. Cetera Investment Advisers now owns 1,278 shares of the aerospace company’s stock worth $328,000 after buying an additional 10 shares in the last quarter. EP Wealth Advisors LLC raised its position in shares of Northrop Grumman Corporation by 3.2% during the 2nd quarter. EP Wealth Advisors LLC now owns 2,557 shares of the aerospace company’s stock worth $656,000 after buying an additional 80 shares in the last quarter. Finally, Advisory Services Network LLC raised its position in shares of Northrop Grumman Corporation by 147.9% during the 2nd quarter. Advisory Services Network LLC now owns 2,023 shares of the aerospace company’s stock worth $519,000 after buying an additional 1,207 shares in the last quarter. Hedge funds and other institutional investors own 81.25% of the company’s stock.

In other Northrop Grumman Corporation news, VP Lisa R. Davis sold 367 shares of the company’s stock in a transaction dated Tuesday, August 1st. The shares were sold at an average price of $263.25, for a total transaction of $96,612.75. Following the transaction, the vice president now directly owns 961 shares in the company, valued at approximately $252,983.25. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.70% of the company’s stock.

A number of research firms have commented on NOC. Deutsche Bank AG restated a “buy” rating and set a $325.00 price target (up from $285.00) on shares of Northrop Grumman Corporation in a research report on Monday, October 2nd. Jefferies Group LLC restated a “hold” rating and set a $269.00 price target on shares of Northrop Grumman Corporation in a research report on Friday, September 29th. Zacks Investment Research downgraded shares of Northrop Grumman Corporation from a “buy” rating to a “hold” rating in a research report on Tuesday, September 26th. Stifel Nicolaus restated a “hold” rating and set a $255.00 price target on shares of Northrop Grumman Corporation in a research report on Thursday, September 21st. Finally, Vertical Research restated a “buy” rating and set a $296.00 price target (up from $280.00) on shares of Northrop Grumman Corporation in a research report on Wednesday, September 20th. Seven analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. Northrop Grumman Corporation has an average rating of “Buy” and an average price target of $276.72.

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Shares of Northrop Grumman Corporation (NOC) traded down 0.37% during trading on Monday, hitting $295.29. 201,860 shares of the stock traded hands. The company has a 50 day moving average of $279.80 and a 200-day moving average of $261.82. The company has a market cap of $51.41 billion, a PE ratio of 22.56 and a beta of 0.68. Northrop Grumman Corporation has a 1-year low of $214.59 and a 1-year high of $299.33.

Northrop Grumman Corporation (NYSE:NOC) last released its earnings results on Wednesday, July 26th. The aerospace company reported $3.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.84 by $0.31. Northrop Grumman Corporation had a net margin of 9.20% and a return on equity of 39.22%. The company had revenue of $6.38 billion for the quarter, compared to the consensus estimate of $6.21 billion. During the same period in the prior year, the company posted $2.85 EPS. The company’s revenue was up 6.3% compared to the same quarter last year. On average, equities analysts anticipate that Northrop Grumman Corporation will post $12.56 EPS for the current fiscal year.

Northrop Grumman Corporation 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)

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