Carnegie Capital Asset Management Lowers stake in Northrop Grumman Corporation (NOC)

Northrop Grumman Corporation (NOC) : Carnegie Capital Asset Management reduced its stake in Northrop Grumman Corporation by 0.94% during the most recent quarter end. The investment management company now holds a total of 71,607 shares of Northrop Grumman Corporation which is valued at $14,456,021 after selling 682 shares in Northrop Grumman Corporation , the firm said in a disclosure report filed with the SEC on Apr 13, 2016.Northrop Grumman Corporation makes up approximately 2.19% of Carnegie Capital Asset Management’s portfolio.

Northrop Grumman Corporation opened for trading at $202 and hit $202.88 on the upside on Monday, eventually ending the session at $202.79, with a gain of 0.45% or 0.91 points. The heightened volatility saw the trading volume jump to 6,64,575 shares. Company has a market cap of $36,693 M.

Other Hedge Funds, Including , 1st Global Advisors boosted its stake in NOC in the latest quarter, The investment management firm added 295 additional shares and now holds a total of 3,638 shares of Northrop Grumman Corporation which is valued at $734,439. Northrop Grumman Corporation makes up approx 0.10% of 1st Global Advisors’s portfolio.Searle boosted its stake in NOC in the latest quarter, The investment management firm added 50 additional shares and now holds a total of 6,288 shares of Northrop Grumman Corporation which is valued at $1,269,421. Northrop Grumman Corporation makes up approx 1.16% of Searle’s portfolio.Fjarde Ap-fonden Fourth Swedish National Pension Fund boosted its stake in NOC in the latest quarter, The investment management firm added 4,003 additional shares and now holds a total of 38,853 shares of Northrop Grumman Corporation which is valued at $7,843,644. Northrop Grumman Corporation makes up approx 0.18% of Fjarde Ap-fonden Fourth Swedish National Pension Fund’s portfolio.Eagle Asset Management Inc reduced its stake in NOC by selling 119 shares or 0.4% in the most recent quarter. The Hedge Fund company now holds 29,537 shares of NOC which is valued at $5,892,927. Northrop Grumman Corporation makes up approx 0.04% of Eagle Asset Management Inc’s portfolio.

On the company’s financial health, Northrop Grumman Corporation reported $2.49 EPS for the quarter, beating the analyst consensus estimate by $ 0.48 according to the earnings call on Jan 28, 2016. Analyst had a consensus of $2.01. The company had revenue of $5694.00 million for the quarter, compared to analysts expectations of $5930.10 million. The company’s revenue was down -6.8 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $2.48 EPS.

Many Wall Street Analysts have commented on Northrop Grumman Corporation. Northrop Grumman Corporation was Initiated by Guggenheim to “Buy” on Apr 5, 2016. Company shares were Reiterated by Barclays on Feb 16, 2016 to “Equal Weight”, Firm has raised the Price Target to $ 189 from a previous price target of $187 .Northrop Grumman Corporation was Upgraded by BofA/Merrill to ” Buy” on Feb 1, 2016.

Northrop Grumman Corporation is a global security company. The Company provides systems products and solutions in unmanned systems; cyber; command control communications and computers (C4) intelligence surveillance and reconnaissance (C4ISR); strike aircraft and logistics and modernization to government and commercial customers across the world. The Company operates through four segments: Aerospace Systems Electronic Systems Information Systems and Technical Services. It offers a portfolio of capabilities and technologies that enable it to deliver systems and solutions for applications. It participates in many high-priority defense and Government programs in the United States and abroad. The Company conducts business with the United States Government the Department of Defense (DoD) and intelligence community. The Company also conducts business with local state and foreign Governments and domestic and international commercial customers.

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