Parkwood LLC Sells 277 Shares of Northrop Grumman Corporation (NYSE:NOC)

Parkwood LLC decreased its position in Northrop Grumman Corporation (NYSE:NOC) by 16.5% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,399 shares of the aerospace company’s stock after selling 277 shares during the period. Parkwood LLC’s holdings in Northrop Grumman Corporation were worth $359,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of NOC. BlackRock Inc. boosted its position in shares of Northrop Grumman Corporation by 2,871.7% in the first quarter. BlackRock Inc. now owns 12,775,397 shares of the aerospace company’s stock worth $3,038,501,000 after buying an additional 12,345,491 shares during the period. Alliancebernstein L.P. boosted its stake in Northrop Grumman Corporation by 64.6% in the first quarter. Alliancebernstein L.P. now owns 3,149,678 shares of the aerospace company’s stock valued at $749,119,000 after buying an additional 1,235,985 shares during the last quarter. Winslow Capital Management LLC purchased a new stake in Northrop Grumman Corporation during the first quarter valued at approximately $198,691,000. Renaissance Technologies LLC boosted its stake in Northrop Grumman Corporation by 331.4% in the first quarter. Renaissance Technologies LLC now owns 989,200 shares of the aerospace company’s stock valued at $235,271,000 after buying an additional 759,900 shares during the last quarter. Finally, Vanguard Group Inc. boosted its stake in Northrop Grumman Corporation by 4.3% in the first quarter. Vanguard Group Inc. now owns 12,764,239 shares of the aerospace company’s stock valued at $3,035,847,000 after buying an additional 531,824 shares during the last quarter. 81.75% of the stock is owned by institutional investors and hedge funds.

Northrop Grumman Corporation (NOC) traded up 0.17% during mid-day trading on Friday, hitting $269.24. 653,027 shares of the company traded hands. The company’s 50-day moving average is $261.05 and its 200-day moving average is $247.53. Northrop Grumman Corporation has a one year low of $206.69 and a one year high of $269.24. The stock has a market capitalization of $46.89 billion, a price-to-earnings ratio of 20.57 and a beta of 0.66.

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

A number of equities analysts have weighed in on NOC shares. BidaskClub lowered shares of Northrop Grumman Corporation from a “buy” rating to a “hold” rating in a report on Monday, July 31st. Argus lifted their target price on shares of Northrop Grumman Corporation from $270.00 to $295.00 and gave the company a “buy” rating in a report on Friday. Deutsche Bank AG reaffirmed a “buy” rating and set a $285.00 price target (up previously from $275.00) on shares of Northrop Grumman Corporation in a research note on Thursday, July 27th. Stifel Nicolaus reaffirmed a “hold” rating and set a $255.00 price target (up previously from $245.00) on shares of Northrop Grumman Corporation in a research note on Thursday, July 27th. Finally, Cowen and Company reaffirmed a “hold” rating and set a $275.00 price target on shares of Northrop Grumman Corporation in a research note on Monday, July 17th. Seven investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Northrop Grumman Corporation currently has a consensus rating of “Buy” and a consensus target price of $258.47.

In other Northrop Grumman Corporation news, VP Sid Ashworth sold 3,847 shares of Northrop Grumman Corporation stock in a transaction on Wednesday, June 14th. The shares were sold at an average price of $260.00, for a total transaction 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 $18,059,080. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP Lisa R. Davis sold 367 shares of Northrop Grumman Corporation stock in a transaction on Tuesday, August 1st. The stock was sold at an average price of $263.25, for a total transaction of $96,612.75. Following 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. Over the last ninety days, insiders have sold 33,954 shares of company stock valued at $8,531,833. Company insiders own 0.70% of the company’s stock.

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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