Eagle Asset Management Inc. Trims Stake in Northrop Grumman Corporation (NOC)

Eagle Asset Management Inc. reduced its holdings in shares of Northrop Grumman Corporation (NYSE:NOC) by 0.3% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 28,319 shares of the aerospace company’s stock after selling 92 shares during the quarter. Eagle Asset Management Inc.’s holdings in Northrop Grumman Corporation were worth $7,269,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also bought and sold shares of the business. Benjamin F. Edwards & Company Inc. increased its holdings in Northrop Grumman Corporation by 0.4% during the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 837 shares of the aerospace company’s stock valued at $199,000 after acquiring an additional 3 shares in the last quarter. Concert Wealth Management Inc. increased its holdings in Northrop Grumman Corporation by 0.7% during the 1st quarter. Concert Wealth Management Inc. now owns 1,083 shares of the aerospace company’s stock valued at $252,000 after acquiring an additional 8 shares in the last quarter. Argent Trust Co increased its holdings in Northrop Grumman Corporation by 0.7% during the 1st quarter. Argent Trust Co now owns 1,691 shares of the aerospace company’s stock valued at $401,000 after acquiring an additional 11 shares in the last quarter. Bank of Stockton grew its holdings in shares of Northrop Grumman Corporation by 0.9% during the second quarter. Bank of Stockton now owns 1,294 shares of the aerospace company’s stock worth $332,000 after buying an additional 12 shares in the last quarter. Finally, Eqis Capital Management Inc. grew its holdings in shares of 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 worth $338,000 after buying an additional 13 shares in the last quarter. Hedge funds and other institutional investors own 81.37% of the company’s stock.

Northrop Grumman Corporation (NYSE:NOC) opened at 281.55 on Friday. The firm has a market capitalization of $49.02 billion, a PE ratio of 21.51 and a beta of 0.66. Northrop Grumman Corporation has a 12 month low of $210.60 and a 12 month high of $282.93. The firm’s 50-day moving average is $269.39 and its 200-day moving average is $255.59.

Northrop Grumman Corporation (NYSE:NOC) last released its quarterly earnings data on Wednesday, July 26th. The aerospace company reported $3.15 EPS for the quarter, topping analysts’ consensus estimates of $2.84 by $0.31. Northrop Grumman Corporation had a return on equity of 39.22% and a net margin of 9.20%. The firm had revenue of $6.38 billion for the quarter, compared to the consensus estimate of $6.21 billion. During the same quarter in the prior year, the company posted $2.85 earnings per share. The firm’s revenue was up 6.3% on a year-over-year basis. On average, equities research analysts expect that Northrop Grumman Corporation will post $12.55 EPS for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 13th. Investors of record on Monday, August 28th were issued a $1.00 dividend. The ex-dividend date was Thursday, August 24th. This represents a $4.00 dividend on an annualized basis and a yield of 1.42%. Northrop Grumman Corporation’s dividend payout ratio is currently 30.56%.

A number of brokerages have recently commented on NOC. Argus lifted their price target on shares of Northrop Grumman Corporation from $270.00 to $295.00 and gave the stock a “buy” rating in a report on Friday, August 4th. Vertical Research reiterated a “buy” rating and set a $296.00 price target (up from $280.00) on shares of Northrop Grumman Corporation in a report on Wednesday. Stifel Nicolaus reiterated a “hold” rating and set a $255.00 price target (up from $245.00) on shares of Northrop Grumman Corporation in a report on Thursday, July 27th. Jefferies Group LLC reiterated a “hold” rating and set a $243.00 price target on shares of Northrop Grumman Corporation in a report on Wednesday, June 21st. Finally, Morgan Stanley began coverage on shares of Northrop Grumman Corporation in a report on Tuesday, August 8th. They set an “equal weight” rating and a $279.00 price target for the company. Six investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $272.01.

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In related news, VP Lisa R. Davis sold 367 shares of the stock in a transaction that occurred on Tuesday, August 1st. The stock was sold at an average price of $263.25, for a total value of $96,612.75. Following the transaction, the vice president now owns 961 shares in the company, valued at $252,983.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.70% of the company’s stock.

About Northrop Grumman Corporation

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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