Ocean Capital Management LLC Reduces Stock Holdings in Northrop Grumman Co. (NYSE:NOC)

Ocean Capital Management LLC decreased its position in Northrop Grumman Co. (NYSE:NOC) by 2.7% during the 2nd quarter, Holdings Channel.com reports. The firm owned 7,804 shares of the aerospace company’s stock after selling 216 shares during the period. Northrop Grumman comprises about 2.1% of Ocean Capital Management LLC’s portfolio, making the stock its 13th biggest holding. Ocean Capital Management LLC’s holdings in Northrop Grumman were worth $2,522,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the stock. Trustcore Financial Services LLC purchased a new stake in shares of Northrop Grumman during the first quarter worth $27,000. Glassman Wealth Services lifted its position in shares of Northrop Grumman by 203.0% during the first quarter. Glassman Wealth Services now owns 100 shares of the aerospace company’s stock worth $27,000 after acquiring an additional 67 shares in the last quarter. Truvestments Capital LLC purchased a new stake in shares of Northrop Grumman during the first quarter worth $28,000. Meridian Wealth Management LLC purchased a new stake in shares of Northrop Grumman during the first quarter worth $29,000. Finally, Berman Capital Advisors LLC lifted its position in shares of Northrop Grumman by 78.1% during the first quarter. Berman Capital Advisors LLC now owns 114 shares of the aerospace company’s stock worth $30,000 after acquiring an additional 50 shares in the last quarter. Institutional investors and hedge funds own 83.71% of the company’s stock.

NOC has been the topic of several recent research reports. UBS Group increased their target price on Northrop Grumman from $300.00 to $330.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 10th. Morgan Stanley upgraded Northrop Grumman from an “equal weight” rating to an “overweight” rating and increased their price objective for the stock from $335.00 to $418.00 in a research report on Tuesday, August 6th. ValuEngine upgraded Northrop Grumman from a “sell” rating to a “hold” rating in a research report on Saturday, August 10th. Bank of America reiterated a “buy” rating and issued a $405.00 price objective (up previously from $355.00) on shares of Northrop Grumman in a research report on Thursday, July 25th. Finally, Credit Suisse Group increased 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. Five equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $345.93.

Shares of NOC stock traded down $0.07 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 company has a debt-to-equity ratio of 1.62, a current ratio of 1.25 and a quick ratio of 1.15. Northrop Grumman Co. has a 12-month low of $223.63 and a 12-month high of $377.34. The firm has a market cap of $63.15 billion, a P/E ratio of 16.94, a P/E/G ratio of 1.53 and a beta of 0.81. The company has a 50 day simple moving average of $337.76.

Northrop Grumman (NYSE:NOC) last issued its quarterly earnings data on Wednesday, July 24th. The aerospace company reported $5.06 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate 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 quarter last year, the business posted $4.50 earnings per share. The firm’s revenue was up 18.8% compared to the same quarter last year. On average, analysts predict that Northrop Grumman Co. will post 19.63 earnings per share for the current fiscal year.

In related news, VP Christopher T. Jones sold 5,000 shares of the stock in a transaction on Monday, July 29th. The stock was sold at an average price of $353.19, for a total value of $1,765,950.00. Following the transaction, the vice president now owns 67,422 shares of the company’s stock, valued at $23,812,776.18. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Kathy J. Warden sold 6,837 shares of the stock in a transaction on Monday, July 29th. The shares were sold at an average price of $353.46, for a total value of $2,416,606.02. Following the completion of the transaction, the chief executive officer now directly owns 99,002 shares in the company, valued at approximately $34,993,246.92. The disclosure for this sale can be found here. In the last three months, insiders sold 14,740 shares of company stock worth $5,087,496. 0.45% of the stock is owned by insiders.

Northrop Grumman Company Profile

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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