M&T Bank Corp Lowers Holdings in Northrop Grumman Co. (NYSE:NOC)

M&T Bank Corp cut its holdings in Northrop Grumman Co. (NYSE:NOC) by 13.0% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 20,076 shares of the aerospace company’s stock after selling 3,003 shares during the period. M&T Bank Corp’s holdings in Northrop Grumman were worth $6,173,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of NOC. Wellington Management Group LLP raised its holdings in shares of Northrop Grumman by 87.6% during the 1st quarter. Wellington Management Group LLP now owns 5,709,638 shares of the aerospace company’s stock worth $1,727,450,000 after acquiring an additional 2,666,917 shares in the last quarter. Massachusetts Financial Services Co. MA raised its holdings in shares of Northrop Grumman by 12.1% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 5,818,653 shares of the aerospace company’s stock worth $1,760,434,000 after acquiring an additional 629,137 shares in the last quarter. Advisor Group Holdings Inc. purchased a new stake in shares of Northrop Grumman during the 1st quarter worth approximately $21,230,000. Jennison Associates LLC raised its holdings in shares of Northrop Grumman by 5,176.0% during the 1st quarter. Jennison Associates LLC now owns 286,538 shares of the aerospace company’s stock worth $86,692,000 after acquiring an additional 281,107 shares in the last quarter. Finally, Alliancebernstein L.P. raised its holdings in shares of Northrop Grumman by 37.6% during the 1st quarter. Alliancebernstein L.P. now owns 902,648 shares of the aerospace company’s stock worth $273,096,000 after acquiring an additional 246,678 shares in the last quarter. 83.97% of the stock is currently owned by institutional investors.

Several brokerages have recently issued reports on NOC. Royal Bank of Canada upped their price objective on Northrop Grumman from $366.00 to $391.00 and gave the stock a “sector perform” rating in a report on Friday. ValuEngine upgraded Northrop Grumman from a “sell” rating to a “hold” rating in a report on Tuesday, July 28th. Zacks Investment Research upgraded Northrop Grumman from a “sell” rating to a “hold” rating and set a $320.00 price target on the stock in a report on Thursday, June 25th. Morgan Stanley increased their price target on Northrop Grumman from $380.00 to $412.00 and gave the company an “overweight” rating in a report on Tuesday, April 14th. Finally, Sanford C. Bernstein increased their price target on Northrop Grumman from $405.00 to $419.00 and gave the company an “outperform” rating in a report on Friday. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and six have issued a buy rating to the company. Northrop Grumman currently has a consensus rating of “Hold” and a consensus price target of $385.00.

Shares of Northrop Grumman stock opened at $325.01 on Friday. The stock’s fifty day moving average is $308.15 and its two-hundred day moving average is $332.27. The company has a market capitalization of $54.18 billion, a PE ratio of 22.86 and a beta of 0.79. The company has a quick ratio of 1.21, a current ratio of 1.35 and a debt-to-equity ratio of 1.61. Northrop Grumman Co. has a 52 week low of $263.31 and a 52 week high of $385.01.

Northrop Grumman (NYSE:NOC) last announced its quarterly earnings data on Thursday, July 30th. The aerospace company reported $6.01 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $5.32 by $0.69. The company had revenue of $8.88 billion for the quarter, compared to the consensus estimate of $8.66 billion. Northrop Grumman had a return on equity of 40.24% and a net margin of 6.91%. Northrop Grumman’s quarterly revenue was up 5.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $5.06 EPS. As a group, research analysts anticipate that Northrop Grumman Co. will post 22.2 earnings per share for the current year.

Northrop Grumman Company Profile

Northrop Grumman Corporation, a security company, provides products in the areas of autonomous systems, cyber, space, strikes, and logistics and modernizations in the United States, the Asia Pacific, and internationally. The company operates through four segments: Aerospace Systems, Innovation Systems, Mission Systems, and Technology Services.

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

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