Northrop Grumman Corporation (NYSE:NOC) Stake Reduced by Texas Permanent School Fund
Texas Permanent School Fund lowered its position in Northrop Grumman Corporation (NYSE:NOC) by 3.9% during the second quarter, according to its most recent filing with the SEC. The firm owned 49,051 shares of the aerospace company’s stock after selling 1,965 shares during the period. Texas Permanent School Fund’s holdings in Northrop Grumman Corporation were worth $12,592,000 at the end of the most recent quarter.
A number of other large investors have also recently added to or reduced their stakes in NOC. Huntington National Bank boosted its stake in Northrop Grumman Corporation by 145.3% in the first quarter. Huntington National Bank now owns 66,723 shares of the aerospace company’s stock worth $15,870,000 after buying an additional 39,527 shares during the last quarter. Johanson Financial Advisors Inc. purchased a new stake in Northrop Grumman Corporation during the first quarter worth approximately $381,000. Deschutes Portfolio Strategy LLC boosted its stake in Northrop Grumman Corporation by 5.0% in the first quarter. Deschutes Portfolio Strategy LLC now owns 2,092 shares of the aerospace company’s stock worth $498,000 after buying an additional 100 shares during the last quarter. Quantitative Systematic Strategies LLC purchased a new stake in Northrop Grumman Corporation during the first quarter worth approximately $600,000. Finally, Barometer Capital Management Inc. boosted its stake in Northrop Grumman Corporation by 100.0% in the first quarter. Barometer Capital Management Inc. now owns 109,000 shares of the aerospace company’s stock worth $25,925,000 after buying an additional 54,500 shares during the last quarter. Institutional investors own 82.08% of the company’s stock.
Northrop Grumman Corporation (NYSE NOC) opened at 269.28 on Friday. The stock has a market capitalization of $46.88 billion, a price-to-earnings ratio of 20.57 and a beta of 0.66. The company has a 50 day moving average of $263.45 and a 200-day moving average of $249.38. Northrop Grumman Corporation has a 12-month low of $206.69 and a 12-month high of $274.61.
Northrop Grumman Corporation (NYSE:NOC) last posted its quarterly earnings data on Wednesday, July 26th. The aerospace company reported $3.15 EPS for the quarter, beating the Thomson Reuters’ consensus estimate 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 during the quarter, compared to the consensus estimate of $6.21 billion. During the same period in the prior year, the company earned $2.85 EPS. The firm’s revenue was up 6.3% compared to the same quarter last year. On average, equities research analysts forecast that Northrop Grumman Corporation will post $12.55 earnings per share for the current year.
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A number of equities research analysts have commented on the stock. Morgan Stanley assumed coverage on shares of Northrop Grumman Corporation in a research note on Tuesday. They set an “equal weight” rating and a $279.00 target price on the stock. Argus raised their target price on shares of Northrop Grumman Corporation from $270.00 to $295.00 and gave the stock a “buy” rating in a research note on Friday, August 4th. Cowen and Company restated a “hold” rating and set a $275.00 target price on shares of Northrop Grumman Corporation in a research note on Monday, July 17th. BidaskClub cut shares of Northrop Grumman Corporation from a “buy” rating to a “hold” rating in a research note on Monday, July 31st. Finally, Deutsche Bank AG restated a “buy” rating and set a $285.00 target price (up previously from $275.00) on shares of Northrop Grumman Corporation in a research note on Thursday, July 27th. Eight analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $259.93.
In related news, VP Sid Ashworth sold 3,847 shares of the stock in a transaction on Wednesday, June 14th. The stock was sold at an average price of $260.00, for a total value of $1,000,220.00. Following the completion of the transaction, the vice president now directly owns 69,458 shares of the company’s stock, valued at approximately $18,059,080. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP Lisa R. Davis sold 367 shares of the stock in a transaction on Tuesday, August 1st. The shares were sold at an average price of $263.25, for a total value of $96,612.75. Following the completion of the transaction, the vice president now directly owns 961 shares of the company’s stock, valued at $252,983.25. The disclosure for this sale can be found here. 0.70% of the stock is currently owned by corporate insiders.
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.
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