Northrop Grumman Co. (NOC) Shares Sold by Picton Mahoney Asset Management

Picton Mahoney Asset Management reduced its position in Northrop Grumman Co. (NYSE:NOC) by 2.4% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 45,700 shares of the aerospace company’s stock after selling 1,100 shares during the quarter. Picton Mahoney Asset Management’s holdings in Northrop Grumman were worth $14,503,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Bay Colony Advisory Group Inc d b a Bay Colony Advisors acquired a new stake in shares of Northrop Grumman in the second quarter valued at approximately $114,000. Meeder Asset Management Inc. acquired a new stake in shares of Northrop Grumman in the second quarter valued at approximately $115,000. Fort L.P. acquired a new stake in shares of Northrop Grumman in the second quarter valued at approximately $117,000. WESPAC Advisors SoCal LLC acquired a new stake in shares of Northrop Grumman in the third quarter valued at approximately $126,000. Finally, Kaizen Advisory LLC lifted its holdings in shares of Northrop Grumman by 156.2% during the second 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. 82.16% of the stock is owned by institutional investors and hedge funds.

Several equities research analysts recently weighed in on the company. Zacks Investment Research raised Northrop Grumman from a “hold” rating to a “buy” rating and set a $352.00 price target for the company in a report on Thursday, October 11th. Credit Suisse Group decreased their price target on Northrop Grumman from $341.00 to $326.00 and set a “neutral” rating for the company in a report on Friday, July 27th. JPMorgan Chase & Co. decreased their price target on Northrop Grumman from $375.00 to $360.00 and set an “overweight” rating for the company in a report on Friday, July 27th. Goldman Sachs Group decreased their price target on Northrop Grumman to $414.00 and set a “conviction-buy” rating for the company in a report on Thursday, July 26th. Finally, Stifel Nicolaus reaffirmed a “hold” rating and set a $300.00 price target on shares of Northrop Grumman in a report on Thursday, July 26th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. Northrop Grumman presently has a consensus rating of “Buy” and a consensus price target of $357.18.

Shares of NYSE NOC opened at $285.91 on Thursday. The company has a debt-to-equity ratio of 1.53, a current ratio of 1.26 and a quick ratio of 1.17. Northrop Grumman Co. has a 1-year low of $251.66 and a 1-year high of $360.88. The firm has a market cap of $49.09 billion, a P/E ratio of 21.53, a P/E/G ratio of 1.06 and a beta of 0.83.

Northrop Grumman (NYSE:NOC) last released its quarterly earnings data on Wednesday, October 24th. The aerospace company reported $6.54 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $4.35 by $2.19. The firm had revenue of $8.09 billion during the quarter, compared to analysts’ expectations of $7.99 billion. Northrop Grumman had a return on equity of 38.27% and a net margin of 9.62%. Northrop Grumman’s revenue was up 23.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $3.67 earnings per share. On average, sell-side analysts predict that Northrop Grumman Co. will post 19.06 earnings per share for the current fiscal year.

In other Northrop Grumman news, VP Mark A. Caylor sold 4,543 shares of the stock in a transaction on Thursday, August 30th. The stock was sold at an average price of $297.45, for a total value of $1,351,315.35. Following the completion of the transaction, the vice president now owns 24,592 shares in the company, valued at $7,314,890.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Lesley A. Kalan sold 1,065 shares of the stock in a transaction on Monday, August 27th. The stock was sold at an average price of $300.02, for a total value of $319,521.30. Following the completion of the transaction, the vice president now owns 13,656 shares of the company’s stock, valued at approximately $4,097,073.12. The disclosure for this sale can be found here. Insiders sold 33,557 shares of company stock valued at $10,005,222 in the last quarter. 0.62% of the stock is currently owned by company insiders.

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Northrop Grumman Company Profile

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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Institutional Ownership by Quarter for Northrop Grumman (NYSE:NOC)

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