Ocean Capital Management LLC Sells 216 Shares of Northrop Grumman Co. (NYSE:NOC)

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Ocean Capital Management LLC decreased its holdings in Northrop Grumman Co. (NYSE:NOC) by 2.7% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 7,804 shares of the aerospace company’s stock after selling 216 shares during the period. Northrop Grumman makes up about 2.1% of Ocean Capital Management LLC’s portfolio, making the stock its 13th biggest position. Ocean Capital Management LLC’s holdings in Northrop Grumman were worth $2,522,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Thoroughbred Financial Services LLC grew its position in Northrop Grumman by 30,736.5% during the 2nd quarter. Thoroughbred Financial Services LLC now owns 785,405 shares of the aerospace company’s stock worth $78,540,000 after acquiring an additional 782,858 shares during the last quarter. Rothschild & Co. Asset Management US Inc. bought a new stake in Northrop Grumman during the 2nd quarter worth $65,331,000. DekaBank Deutsche Girozentrale grew its position in Northrop Grumman by 55.3% during the 2nd quarter. DekaBank Deutsche Girozentrale now owns 480,331 shares of the aerospace company’s stock worth $153,054,000 after acquiring an additional 171,117 shares during the last quarter. SG Americas Securities LLC grew its position in Northrop Grumman by 354.2% during the 1st quarter. SG Americas Securities LLC now owns 158,112 shares of the aerospace company’s stock worth $42,627,000 after acquiring an additional 123,300 shares during the last quarter. Finally, Ellis Investment Partners LLC bought a new stake in Northrop Grumman during the 1st quarter worth $111,000. Institutional investors own 83.71% of the company’s stock.

In related news, CEO Kathy J. Warden sold 6,837 shares of the business’s stock in a transaction dated Monday, July 29th. The stock was sold at an average price of $353.46, for a total value of $2,416,606.02. Following the completion of the sale, the chief executive officer now directly owns 99,002 shares of the company’s stock, valued at approximately $34,993,246.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Madeleine Kleiner sold 971 shares of the business’s stock in a transaction dated Wednesday, May 22nd. The shares were sold at an average price of $315.16, for a total value of $306,020.36. Following the completion of the sale, the director now directly owns 16,675 shares of the company’s stock, valued at $5,255,293. The disclosure for this sale can be found here. Insiders sold a total of 14,740 shares of company stock valued at $5,087,496 over the last ninety days. 0.45% of the stock is currently owned by corporate insiders.

NOC has been the topic of a number of research reports. Credit Suisse Group boosted their price objective on Northrop Grumman from $364.00 to $385.00 and gave the stock an “outperform” rating in a research report on Thursday, July 25th. Sanford C. Bernstein boosted their price objective on Northrop Grumman from $344.00 to $368.00 in a research report on Thursday, July 25th. Barclays boosted their price objective on Northrop Grumman from $325.00 to $340.00 and gave the stock an “overweight” rating in a research report on Thursday, May 16th. Bank of America restated a “buy” rating and set a $405.00 price objective (up previously from $355.00) on shares of Northrop Grumman in a research report on Thursday, July 25th. Finally, Alembic Global Advisors upgraded Northrop Grumman from a “neutral” rating to an “overweight” rating in a research report on Tuesday, April 30th. Five equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Northrop Grumman has an average rating of “Buy” and an average target price of $345.93.

Shares of NYSE:NOC traded down $0.07 during midday trading on Thursday, reaching $361.35. The company’s stock had a trading volume of 330,514 shares, compared to its average volume of 999,836. The firm has a market capitalization of $63.15 billion, a price-to-earnings ratio of 16.94, a price-to-earnings-growth ratio of 1.53 and a beta of 0.81. The company has a quick ratio of 1.15, a current ratio of 1.25 and a debt-to-equity ratio of 1.62. The stock has a 50 day moving average of $337.76. Northrop Grumman Co. has a fifty-two week low of $223.63 and a fifty-two week high of $377.34.

Northrop Grumman (NYSE:NOC) last announced its quarterly earnings data on Wednesday, July 24th. The aerospace company reported $5.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.64 by $0.42. Northrop Grumman had a return on equity of 42.21% and a net margin of 9.80%. The company had revenue of $8.46 billion for the quarter, compared to the consensus estimate of $8.41 billion. During the same period in the previous year, the business earned $4.50 EPS. The firm’s revenue was up 18.8% compared to the same quarter last year. As a group, sell-side analysts anticipate that Northrop Grumman Co. will post 19.63 EPS for the current year.

About Northrop Grumman

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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