Comerica Bank Lowers Position in Northrop Grumman Co. (NOC)

Comerica Bank decreased its position in Northrop Grumman Co. (NYSE:NOC) by 26.7% in the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 42,521 shares of the aerospace company’s stock after selling 15,470 shares during the period. Comerica Bank’s holdings in Northrop Grumman were worth $12,932,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. TD Asset Management Inc. raised its stake in Northrop Grumman by 10.7% in the third quarter. TD Asset Management Inc. now owns 130,836 shares of the aerospace company’s stock worth $41,523,000 after buying an additional 12,605 shares in the last quarter. Private Advisor Group LLC raised its stake in Northrop Grumman by 49.9% in the third quarter. Private Advisor Group LLC now owns 12,378 shares of the aerospace company’s stock worth $3,928,000 after buying an additional 4,119 shares in the last quarter. Northwestern Mutual Wealth Management Co. raised its stake in Northrop Grumman by 12.1% in the third quarter. Northwestern Mutual Wealth Management Co. now owns 6,054 shares of the aerospace company’s stock worth $1,921,000 after buying an additional 655 shares in the last quarter. Summit X LLC raised its stake in Northrop Grumman by 22.4% in the third quarter. Summit X LLC now owns 1,753 shares of the aerospace company’s stock worth $558,000 after buying an additional 321 shares in the last quarter. Finally, Synovus Financial Corp raised its stake in Northrop Grumman by 53.9% in the third quarter. Synovus Financial Corp now owns 2,048 shares of the aerospace company’s stock worth $650,000 after buying an additional 717 shares in the last quarter. Hedge funds and other institutional investors own 82.16% of the company’s stock.

A number of brokerages recently commented on NOC. ValuEngine downgraded shares of Northrop Grumman from a “hold” rating to a “sell” rating in a research note on Friday, October 26th. Stifel Nicolaus set a $280.00 price objective on shares of Northrop Grumman and gave the stock a “hold” rating in a research note on Thursday, October 25th. Zacks Investment Research raised shares of Northrop Grumman from a “hold” rating to a “buy” rating and set a $352.00 price objective for the company in a research note on Thursday, October 11th. Wells Fargo & Co reduced their price objective on shares of Northrop Grumman from $360.00 to $340.00 and set an “outperform” rating for the company in a research note on Thursday, October 25th. Finally, Credit Suisse Group reduced their price objective on shares of Northrop Grumman from $341.00 to $326.00 and set a “neutral” rating for the company in a research note on Friday, July 27th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $357.18.

Shares of NOC stock opened at $282.74 on Wednesday. The firm has a market cap of $47.54 billion, a PE ratio of 21.29, a price-to-earnings-growth ratio of 1.03 and a beta of 0.83. The company has a debt-to-equity ratio of 1.53, a quick ratio of 1.17 and a current ratio of 1.26. Northrop Grumman Co. has a 12-month low of $251.66 and a 12-month high of $360.88.

Northrop Grumman (NYSE:NOC) last issued its quarterly earnings results on Wednesday, October 24th. The aerospace company reported $6.54 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.35 by $2.19. The business had revenue of $8.09 billion for the quarter, compared to the consensus estimate of $7.99 billion. Northrop Grumman had a return on equity of 38.27% and a net margin of 9.62%. The business’s quarterly revenue was up 23.1% on a year-over-year basis. During the same period in the prior year, the firm posted $3.67 earnings per share. On average, analysts predict that Northrop Grumman Co. will post 19.06 earnings per share for the current year.

In other news, VP Lesley A. Kalan sold 1,065 shares of the company’s stock in a transaction on Monday, August 27th. The stock was sold at an average price of $300.02, for a total transaction of $319,521.30. Following the transaction, the vice president now directly owns 13,656 shares of the company’s stock, valued at $4,097,073.12. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Chairman Wesley G. Bush sold 10,000 shares of the company’s stock in a transaction on Friday, November 2nd. The stock was sold at an average price of $274.73, for a total value of $2,747,300.00. Following the transaction, the chairman now directly owns 9,600 shares in the company, valued at $2,637,408. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 32,750 shares of company stock worth $9,779,262. Insiders own 0.62% of the company’s stock.

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Northrop Grumman Profile

Northrop Grumman Corporation operates as a security company for government and commercial customers worldwide. It provides products, systems, and solutions in autonomous systems; cyber; command, control, communications and computers, intelligence, surveillance, and reconnaissance (C4ISR); strike; and logistics and modernization.

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

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