Candriam Luxembourg S.C.A. Has $3.71 Million Position in Northrop Grumman Corporation (NOC)

Candriam Luxembourg S.C.A. decreased its position in shares of Northrop Grumman Corporation (NYSE:NOC) by 1.2% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,468 shares of the aerospace company’s stock after selling 170 shares during the period. Candriam Luxembourg S.C.A.’s holdings in Northrop Grumman Corporation were worth $3,714,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in NOC. Sei Investments Co. raised its stake in Northrop Grumman Corporation by 5.6% in the second quarter. Sei Investments Co. now owns 135,099 shares of the aerospace company’s stock worth $34,681,000 after buying an additional 7,223 shares in the last quarter. Crestwood Advisors Group LLC raised its stake in Northrop Grumman Corporation by 21.8% in the second quarter. Crestwood Advisors Group LLC now owns 1,039 shares of the aerospace company’s stock worth $274,000 after buying an additional 186 shares in the last quarter. Bank of Stockton raised its stake in Northrop Grumman Corporation by 0.9% in the second quarter. Bank of Stockton now owns 1,294 shares of the aerospace company’s stock worth $332,000 after buying an additional 12 shares in the last quarter. Lyell Wealth Management LP raised its stake in Northrop Grumman Corporation by 4.9% in the second quarter. Lyell Wealth Management LP now owns 12,379 shares of the aerospace company’s stock worth $3,178,000 after buying an additional 581 shares in the last quarter. Finally, CIBC Asset Management Inc raised its stake in Northrop Grumman Corporation by 2.7% in the second quarter. CIBC Asset Management Inc now owns 17,112 shares of the aerospace company’s stock worth $4,393,000 after buying an additional 444 shares in the last quarter. Institutional investors and hedge funds own 82.08% of the company’s stock.

Shares of Northrop Grumman Corporation (NYSE:NOC) opened at 269.28 on Friday. The stock has a market cap of $46.88 billion, a P/E ratio of 20.57 and a beta of 0.66. The stock’s 50 day moving average is $263.45 and its 200-day moving average is $249.38. Northrop Grumman Corporation has a one year low of $206.69 and a one year high of $274.61.

Northrop Grumman Corporation (NYSE:NOC) last issued its earnings results on Wednesday, July 26th. The aerospace company reported $3.15 EPS for the quarter, beating the Zacks’ consensus estimate of $2.84 by $0.31. The firm had revenue of $6.38 billion for the quarter, compared to analyst estimates 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 revenue for the quarter was up 6.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.85 earnings per share. On average, equities analysts forecast that Northrop Grumman Corporation will post $12.55 EPS for the current year.

A number of analysts have weighed in on the stock. BidaskClub upgraded shares of Northrop Grumman Corporation from a “hold” rating to a “buy” rating in a research note on Saturday. Morgan Stanley assumed coverage on shares of Northrop Grumman Corporation in a research note on Tuesday, August 8th. They set an “equal weight” rating and a $279.00 price objective for the company. Argus raised their price objective on shares of Northrop Grumman Corporation from $270.00 to $295.00 and gave the company a “buy” rating in a research note on Friday, August 4th. Deutsche Bank AG restated a “buy” rating and set a $285.00 price objective (up from $275.00) on shares of Northrop Grumman Corporation in a research note on Thursday, July 27th. Finally, Stifel Nicolaus restated a “hold” rating and set a $255.00 price objective (up from $245.00) on shares of Northrop Grumman Corporation in a research note on Thursday, July 27th. Seven investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $259.93.

In related news, VP Lisa R. Davis sold 367 shares of the company’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 sale, the vice president now owns 961 shares in the company, valued at $252,983.25. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Sid Ashworth sold 3,847 shares of the company’s stock in a transaction that occurred on Wednesday, June 14th. The shares were sold at an average price of $260.00, for a total value of $1,000,220.00. Following the completion of the sale, the vice president now owns 69,458 shares in the company, valued at approximately $18,059,080. The disclosure for this sale can be found here. 0.70% of the stock is owned by corporate insiders.

Northrop Grumman Corporation Company 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.

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