Northrop Grumman Corporation (NOC) Position Maintained by Covington Capital Management

Covington Capital Management maintained its position in Northrop Grumman Corporation (NYSE:NOC) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 851 shares of the aerospace company’s stock at the close of the second quarter. Covington Capital Management’s holdings in Northrop Grumman Corporation were worth $218,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Hanseatic Management Services Inc. lifted its holdings in shares of Northrop Grumman Corporation by 12.8% in the second quarter. Hanseatic Management Services Inc. now owns 423 shares of the aerospace company’s stock worth $109,000 after acquiring an additional 48 shares during the last quarter. First Personal Financial Services lifted its holdings in shares of Northrop Grumman Corporation by 39.0% in the second quarter. First Personal Financial Services now owns 431 shares of the aerospace company’s stock worth $111,000 after acquiring an additional 121 shares during the last quarter. Pittenger & Anderson Inc. lifted its holdings in shares of Northrop Grumman Corporation by 28.6% in the second quarter. Pittenger & Anderson Inc. now owns 450 shares of the aerospace company’s stock worth $116,000 after acquiring an additional 100 shares during the last quarter. Harbour Capital Advisors LLC bought a new position in shares of Northrop Grumman Corporation in the first quarter worth about $108,000. Finally, People s United Financial Inc. lifted its holdings in shares of Northrop Grumman Corporation by 9.2% in the second quarter. People s United Financial Inc. now owns 475 shares of the aerospace company’s stock worth $122,000 after acquiring an additional 40 shares during the last quarter. 81.37% of the stock is owned by hedge funds and other institutional investors.

In other Northrop Grumman Corporation news, VP Lisa R. Davis sold 367 shares of the business’s 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 completion of the sale, the vice president now owns 961 shares in the company, valued at $252,983.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.70% of the company’s stock.

A number of research analysts have recently commented on the stock. Morgan Stanley assumed coverage on shares of Northrop Grumman Corporation in a report on Tuesday, August 8th. They issued an “equal weight” rating and a $279.00 target price for the company. BidaskClub raised shares of Northrop Grumman Corporation from a “hold” rating to a “buy” rating in a report on Saturday, August 12th. Jefferies Group LLC reissued a “hold” rating and issued a $269.00 target price on shares of Northrop Grumman Corporation in a report on Friday, September 29th. Argus increased their target price 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. Finally, Vertical Research reissued a “buy” rating and issued a $296.00 target price (up previously from $280.00) on shares of Northrop Grumman Corporation in a report on Wednesday, September 20th. Seven research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $276.72.

Northrop Grumman Corporation (NYSE NOC) traded down 0.76% during mid-day trading on Friday, reaching $296.40. 771,082 shares of the company’s stock were exchanged. Northrop Grumman Corporation has a one year low of $214.59 and a one year high of $299.33. The stock has a market cap of $51.60 billion, a price-to-earnings ratio of 22.64 and a beta of 0.68. The stock has a 50-day moving average of $279.80 and a 200-day moving average of $261.63.

Northrop Grumman Corporation (NYSE:NOC) last released its earnings results on Wednesday, July 26th. The aerospace company reported $3.15 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.84 by $0.31. The company had revenue of $6.38 billion during the quarter, compared to the consensus estimate of $6.21 billion. Northrop Grumman Corporation had a return on equity of 39.22% and a net margin of 9.20%. Northrop Grumman Corporation’s quarterly revenue was up 6.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.85 EPS. On average, equities research analysts anticipate that Northrop Grumman Corporation will post $12.56 earnings per share for the current year.

ILLEGAL ACTIVITY NOTICE: This article was published by Community Financial News and is the property of of Community Financial News. If you are reading this article on another website, it was illegally stolen and republished in violation of international copyright and trademark laws. The legal version of this article can be read at https://www.com-unik.info/2017/10/15/northrop-grumman-corporation-noc-position-maintained-by-covington-capital-management.html.

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.

Want to see what other hedge funds are holding NOC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Northrop Grumman Corporation (NYSE:NOC).

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

What are top analysts saying about Northrop Grumman Corporation? - Enter your email address in the form below to receive our free daily email newsletter that contains the latest headlines and analysts' recommendations for for Northrop Grumman Corporation and related companies.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on Google Plus
share on reddit