Mechanics Bank Trust Department Lowers stake in Northrop Grumman Corporation (NOC)

Northrop Grumman Corporation (NOC) : Mechanics Bank Trust Department reduced its stake in Northrop Grumman Corporation by 2.59% during the most recent quarter end. The investment management company now holds a total of 7,885 shares of Northrop Grumman Corporation which is valued at $1,582,914 after selling 210 shares in Northrop Grumman Corporation , the firm said in a disclosure report filed with the SEC on Apr 21, 2016.Northrop Grumman Corporation makes up approximately 0.61% of Mechanics Bank Trust Department’s portfolio.

Northrop Grumman Corporation opened for trading at $207 and hit $208.9892 on the upside on Wednesday, eventually ending the session at $207, with a gain of 1.68% or 3.43 points. The heightened volatility saw the trading volume jump to 14,76,834 shares. Company has a market cap of $37,455 M.

Other Hedge Funds, Including , Saddle Road Partners boosted its stake in NOC in the latest quarter, The investment management firm added 286 additional shares and now holds a total of 3,671 shares of Northrop Grumman Corporation which is valued at $736,953. Northrop Grumman Corporation makes up approx 0.16% of Saddle Road Partners’s portfolio.Daiwa Sb Investments Ltd. reduced its stake in NOC by selling 2,790 shares or 6.21% in the most recent quarter. The Hedge Fund company now holds 42,120 shares of NOC which is valued at $8,503,186. Northrop Grumman Corporation makes up approx 2.13% of Daiwa Sb Investments Ltd.’s portfolio.Capstone Asset Management Co reduced its stake in NOC by selling 1,431 shares or 8.15% in the most recent quarter. The Hedge Fund company now holds 16,138 shares of NOC which is valued at $3,257,939. Northrop Grumman Corporation makes up approx 0.09% of Capstone Asset Management Co’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 $2.59 EPS for the quarter, beating the analyst consensus estimate by $ 0.10 according to the earnings call on Apr 27, 2016. Analyst had a consensus of $2.49. The company had revenue of $5956.00 million for the quarter, compared to analysts expectations of $5930.48 million. During the same quarter in the previous year, the company posted $2.41 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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