Northrop Grumman Co. (NOC) Shares Sold by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. lessened its stake in shares of Northrop Grumman Co. (NYSE:NOC) by 90.5% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 4,451 shares of the aerospace company’s stock after selling 42,202 shares during the period. Assenagon Asset Management S.A.’s holdings in Northrop Grumman were worth $1,413,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in NOC. Cornerstone Wealth Management LLC raised its position in shares of Northrop Grumman by 31,477.7% during the 2nd quarter. Cornerstone Wealth Management LLC now owns 779,970 shares of the aerospace company’s stock worth $2,525,000 after purchasing an additional 777,500 shares during the last quarter. Massachusetts Financial Services Co. MA raised its position in shares of Northrop Grumman by 15.0% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 4,716,917 shares of the aerospace company’s stock worth $1,497,008,000 after purchasing an additional 614,356 shares during the last quarter. Point72 Asset Management L.P. raised its position in shares of Northrop Grumman by 1,187.9% during the 2nd quarter. Point72 Asset Management L.P. now owns 439,175 shares of the aerospace company’s stock worth $135,134,000 after purchasing an additional 405,075 shares during the last quarter. Millennium Management LLC raised its position in shares of Northrop Grumman by 153.0% during the 2nd quarter. Millennium Management LLC now owns 600,981 shares of the aerospace company’s stock worth $184,922,000 after purchasing an additional 363,407 shares during the last quarter. Finally, Winslow Capital Management LLC raised its position in shares of Northrop Grumman by 26.9% during the 2nd quarter. Winslow Capital Management LLC now owns 942,269 shares of the aerospace company’s stock worth $289,936,000 after purchasing an additional 200,026 shares during the last quarter. Hedge funds and other institutional investors own 82.16% of the company’s stock.

In other news, Chairman Wesley G. Bush sold 10,000 shares of the stock in a transaction that occurred on Friday, November 2nd. The shares were sold at an average price of $274.73, for a total value of $2,747,300.00. Following the completion of the sale, the chairman now owns 9,600 shares of the company’s stock, valued at approximately $2,637,408. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, VP Shawn N. Purvis sold 807 shares of the stock in a transaction that occurred on Monday, November 5th. The shares were sold at an average price of $280.00, for a total transaction of $225,960.00. Following the completion of the sale, the vice president now directly owns 3,519 shares of the company’s stock, valued at approximately $985,320. The disclosure for this sale can be found here. In the last three months, insiders sold 33,557 shares of company stock valued at $10,005,222. Corporate insiders own 0.62% of the company’s stock.

Shares of NYSE NOC opened at $285.73 on Friday. Northrop Grumman Co. has a 12-month low of $251.66 and a 12-month high of $360.88. The stock has a market cap of $49.09 billion, a P/E ratio of 21.52, a price-to-earnings-growth ratio of 1.06 and a beta of 0.83. The company has a debt-to-equity ratio of 1.53, a current ratio of 1.26 and a quick ratio of 1.17.

Northrop Grumman (NYSE:NOC) last announced its quarterly earnings data on Wednesday, October 24th. The aerospace company reported $6.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.35 by $2.19. Northrop Grumman had a net margin of 9.62% and a return on equity of 38.27%. The company had revenue of $8.09 billion during the quarter, compared to analysts’ expectations of $7.99 billion. During the same quarter in the prior year, the company earned $3.67 EPS. Northrop Grumman’s revenue was up 23.1% compared to the same quarter last year. As a group, equities analysts forecast that Northrop Grumman Co. will post 19.06 earnings per share for the current year.

Several research firms recently weighed in on NOC. ValuEngine upgraded shares of Northrop Grumman from a “sell” rating to a “hold” rating in a research report on Saturday. Jefferies Financial Group reduced their price target on shares of Northrop Grumman from $400.00 to $324.00 and set a “buy” rating for the company in a research report on Tuesday, October 30th. Zacks Investment Research cut shares of Northrop Grumman from a “strong-buy” rating to a “hold” rating in a research note on Friday, October 26th. Citigroup dropped their price objective on shares of Northrop Grumman from $370.00 to $350.00 and set a “buy” rating for the company in a research note on Thursday, October 25th. Finally, Stifel Nicolaus set a $280.00 price objective on shares of Northrop Grumman and gave the company a “hold” rating in a research note on Thursday, October 25th. Eight investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $357.18.

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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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