Bbva Compass Bancshares Inc. decreased its holdings in Northrop Grumman Corporation (NYSE:NOC) by 3.2% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 12,512 shares of the aerospace company’s stock after selling 410 shares during the quarter. Bbva Compass Bancshares Inc.’s holdings in Northrop Grumman Corporation were worth $3,600,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds have also made changes to their positions in NOC. BlackRock Inc. lifted its stake in Northrop Grumman Corporation by 2,871.7% in the first quarter. BlackRock Inc. now owns 12,775,397 shares of the aerospace company’s stock worth $3,038,501,000 after acquiring an additional 12,345,491 shares during the period. Janus Henderson Group PLC lifted its stake in Northrop Grumman Corporation by 41,518.7% in the second quarter. Janus Henderson Group PLC now owns 2,919,969 shares of the aerospace company’s stock worth $749,585,000 after acquiring an additional 2,912,953 shares during the period. Winslow Capital Management LLC purchased a new stake in Northrop Grumman Corporation in the first quarter worth $198,691,000. Renaissance Technologies LLC lifted its stake in Northrop Grumman Corporation by 331.4% in the first quarter. Renaissance Technologies LLC now owns 989,200 shares of the aerospace company’s stock worth $235,271,000 after acquiring an additional 759,900 shares during the period. Finally, Vanguard Group Inc. lifted its stake in Northrop Grumman Corporation by 4.3% in the first quarter. Vanguard Group Inc. now owns 12,764,239 shares of the aerospace company’s stock worth $3,035,847,000 after acquiring an additional 531,824 shares during the period. 81.50% of the stock is owned by institutional investors.
In other news, VP Sid Ashworth sold 6,311 shares of the business’s stock in a transaction that occurred on Friday, October 27th. The stock was sold at an average price of $298.00, for a total transaction of $1,880,678.00. Following the transaction, the vice president now owns 63,147 shares of the company’s stock, valued at approximately $18,817,806. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 0.70% of the company’s stock.
Northrop Grumman Corporation (NYSE:NOC) last released its earnings results on Wednesday, October 25th. The aerospace company reported $3.68 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.92 by $0.76. The firm had revenue of $6.53 billion for the quarter, compared to the consensus estimate of $6.33 billion. Northrop Grumman Corporation had a return on equity of 39.76% and a net margin of 9.24%. The company’s revenue for the quarter was up 6.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $3.35 EPS.
A number of brokerages recently commented on NOC. Zacks Investment Research raised Northrop Grumman Corporation from a “hold” rating to a “buy” rating and set a $309.00 price target for the company in a research note on Wednesday, September 20th. Deutsche Bank AG reaffirmed a “buy” rating and issued a $325.00 price target (up previously from $285.00) on shares of Northrop Grumman Corporation in a research note on Monday, October 2nd. Argus raised their price target on Northrop Grumman Corporation from $270.00 to $295.00 and gave the stock a “buy” rating in a research note on Friday, August 4th. Morgan Stanley began coverage on Northrop Grumman Corporation in a research note on Tuesday, August 8th. They issued an “equal weight” rating and a $279.00 price target for the company. Finally, Royal Bank Of Canada raised their price target on Northrop Grumman Corporation from $324.00 to $347.00 and gave the stock an “outperform” rating in a research note on Thursday, October 26th. Seven investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $290.54.
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.
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