Beacon Trust Co. Reduces stake in Northrop Grumman Corp. (NOC)

Beacon Trust Co. Reduces stake in Northrop Grumman Corp. (NOC)

Beacon Trust Co. cut its position in shares of Northrop Grumman Corp. (NYSE:NOC) by 16.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 58,683 shares of the company’s stock after selling 11,822 shares during the period. Northrop Grumman Corp. accounts for 2.0% of Beacon Trust Co.’s portfolio, making the stock its 8th largest position. Beacon Trust Co.’s holdings in Northrop Grumman Corp. were worth $13,044,000 as of its most recent filing with the SEC.

A number of other hedge funds have also added to or reduced their stakes in the stock. LPL Financial LLC increased its stake in shares of Northrop Grumman Corp. by 31.0% in the first quarter. LPL Financial LLC now owns 206,304 shares of the company’s stock worth $41,729,000 after buying an additional 48,795 shares in the last quarter. Terra Nova Asset Management LLC increased its stake in shares of Northrop Grumman Corp. by 16.1% in the second quarter. Terra Nova Asset Management LLC now owns 7,160 shares of the company’s stock worth $1,592,000 after buying an additional 992 shares in the last quarter. Robeco Institutional Asset Management B.V. increased its stake in shares of Northrop Grumman Corp. by 5.4% in the second quarter. Robeco Institutional Asset Management B.V. now owns 337,388 shares of the company’s stock worth $74,996,000 after buying an additional 17,255 shares in the last quarter. Rehmann Capital Advisory Group increased its stake in shares of Northrop Grumman Corp. by 6.3% in the second quarter. Rehmann Capital Advisory Group now owns 1,577 shares of the company’s stock worth $351,000 after buying an additional 93 shares in the last quarter. Finally, State Board of Administration of Florida Retirement System increased its stake in shares of Northrop Grumman Corp. by 16.6% in the second quarter. State Board of Administration of Florida Retirement System now owns 262,758 shares of the company’s stock worth $58,405,000 after buying an additional 37,352 shares in the last quarter. 82.62% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Northrop Grumman Corp. (NYSE:NOC) opened at 247.50 on Monday. The stock has a 50 day moving average price of $222.03 and a 200 day moving average price of $217.11. Northrop Grumman Corp. has a 1-year low of $175.00 and a 1-year high of $249.98. The firm has a market capitalization of $43.62 billion, a PE ratio of 21.12 and a beta of 0.66.

Northrop Grumman Corp. (NYSE:NOC) last issued its quarterly earnings results on Wednesday, October 26th. The company reported $3.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.81 by $0.54. The business earned $6.20 billion during the quarter, compared to analysts’ expectations of $6.01 billion. Northrop Grumman Corp. had a return on equity of 34.10% and a net margin of 8.96%. The firm’s revenue for the quarter was up 2.9% compared to the same quarter last year. During the same period in the previous year, the company posted $2.75 earnings per share. Equities research analysts anticipate that Northrop Grumman Corp. will post $11.72 earnings per share for the current fiscal year.

A number of analysts have commented on NOC shares. Barclays PLC upgraded Northrop Grumman Corp. from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $230.00 to $270.00 in a research report on Thursday. JPMorgan Chase & Co. downgraded Northrop Grumman Corp. from an “overweight” rating to a “neutral” rating and raised their price objective for the stock from $225.00 to $231.00 in a research report on Thursday, August 25th. Citigroup Inc. raised their price objective on Northrop Grumman Corp. from $235.00 to $243.00 and gave the stock a “buy” rating in a research report on Tuesday, September 6th. Vetr upgraded Northrop Grumman Corp. from a “sell” rating to a “hold” rating and set a $251.18 target price for the company in a research report on Thursday. Finally, Robert W. Baird assumed coverage on Northrop Grumman Corp. in a research report on Wednesday, October 5th. They set an “outperform” rating and a $260.00 target price for the company. Seven analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $236.16.

In other Northrop Grumman Corp. news, VP Denise M. Peppard sold 2,015 shares of the company’s stock in a transaction on Tuesday, November 1st. The stock was sold at an average price of $229.50, for a total transaction of $462,442.50. Following the completion of the sale, the vice president now directly owns 37,284 shares in the company, valued at $8,556,678. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Christopher T. Jones sold 240 shares of the company’s stock in a transaction on Thursday, September 1st. The stock was sold at an average price of $212.20, for a total value of $50,928.00. Following the sale, the vice president now owns 47,780 shares of the company’s stock, valued at $10,138,916. The disclosure for this sale can be found here. 0.90% of the stock is owned by corporate insiders.

Northrop Grumman Corp. Company Profile

Northrop Grumman Corporation (Northrop Grumman) is a global security company. The Company provides systems, products and solutions in unmanned systems; cyber; command, control, communications and computers (C4), intelligence, surveillance, and reconnaissance (C4ISR); strike aircraft, and logistics and modernization to Government and commercial customers across the world.

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