Northrop Grumman Corporation (NYSE:NOC) Shares Bought by Chesley Taft & Associates LLC

Chesley Taft & Associates LLC increased its position in Northrop Grumman Corporation (NYSE:NOC) by 2.5% during the second quarter, according to its most recent filing with the SEC. The fund owned 7,609 shares of the aerospace company’s stock after buying an additional 185 shares during the period. Chesley Taft & Associates LLC’s holdings in Northrop Grumman Corporation were worth $1,953,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of NOC. Benjamin F. Edwards & Company Inc. boosted its stake in shares of Northrop Grumman Corporation by 0.4% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 837 shares of the aerospace company’s stock worth $199,000 after buying an additional 3 shares during the last quarter. Concert Wealth Management Inc. boosted its stake in shares of Northrop Grumman Corporation by 0.7% in the first quarter. Concert Wealth Management Inc. now owns 1,083 shares of the aerospace company’s stock worth $252,000 after buying an additional 8 shares during the last quarter. Dubuque Bank & Trust Co. boosted its stake in shares of Northrop Grumman Corporation by 1.8% in the first quarter. Dubuque Bank & Trust Co. now owns 501 shares of the aerospace company’s stock worth $119,000 after buying an additional 9 shares during the last quarter. Argent Trust Co boosted its stake in shares of Northrop Grumman Corporation by 0.7% in the first quarter. Argent Trust Co now owns 1,691 shares of the aerospace company’s stock worth $401,000 after buying an additional 11 shares during the last quarter. Finally, Wetherby Asset Management Inc. boosted its stake in shares of Northrop Grumman Corporation by 0.4% in the first quarter. Wetherby Asset Management Inc. now owns 3,107 shares of the aerospace company’s stock worth $739,000 after buying an additional 12 shares during the last quarter. 82.08% of the stock is currently owned by institutional investors.

Northrop Grumman Corporation (NYSE:NOC) traded down 0.47% during mid-day trading on Friday, hitting $269.28. 701,394 shares of the stock were exchanged. The company’s 50-day moving average price is $263.45 and its 200 day moving average price is $249.38. Northrop Grumman Corporation has a 52 week low of $206.69 and a 52 week high of $274.61. The firm has a market capitalization of $46.88 billion, a price-to-earnings ratio of 20.57 and a beta of 0.66.

Northrop Grumman Corporation (NYSE:NOC) last announced its earnings results on Wednesday, July 26th. The aerospace company reported $3.15 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $2.84 by $0.31. The company had revenue of $6.38 billion during the quarter, compared to analyst estimates of $6.21 billion. Northrop Grumman Corporation had a net margin of 9.20% and a return on equity of 39.22%. Northrop Grumman Corporation’s revenue was up 6.3% compared to the same quarter last year. During the same quarter last year, the firm posted $2.85 earnings per share. Equities research analysts expect that Northrop Grumman Corporation will post $12.55 EPS for the current year.

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A number of equities research analysts have issued reports on NOC shares. Vertical Research raised shares of Northrop Grumman Corporation from a “hold” rating to a “buy” rating and boosted their target price for the company from $254.00 to $270.00 in a report on Wednesday, May 10th. Deutsche Bank AG reissued a “buy” rating and set a $285.00 target price (up previously from $275.00) on shares of Northrop Grumman Corporation in a report on Thursday, July 27th. Argus upped their price target on shares of Northrop Grumman Corporation from $270.00 to $295.00 and gave the stock a “buy” rating in a report on Friday, August 4th. BidaskClub raised shares of Northrop Grumman Corporation from a “hold” rating to a “buy” rating in a report on Saturday. Finally, Morgan Stanley began coverage on shares of Northrop Grumman Corporation in a report on Tuesday, August 8th. They issued an “equal weight” rating and a $279.00 price target on the stock. Seven equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $259.93.

In other Northrop Grumman Corporation news, VP Sid Ashworth sold 3,847 shares of the stock in a transaction dated 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 owns 69,458 shares of the company’s stock, valued at $18,059,080. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Lisa R. Davis sold 367 shares of the firm’s stock in a transaction that occurred on Tuesday, August 1st. The shares were sold at an average price of $263.25, for a total transaction of $96,612.75. Following the completion of the transaction, the vice president now directly owns 961 shares of the company’s stock, valued at approximately $252,983.25. The disclosure for this sale can be found here. 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.

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

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