Meritage Portfolio Management Lowers stake in Northrop Grumman Corporation (NOC)

Northrop Grumman Corporation (NOC) : Meritage Portfolio Management reduced its stake in Northrop Grumman Corporation by 28.26% during the most recent quarter end. The investment management company now holds a total of 27,234 shares of Northrop Grumman Corporation which is valued at $5,467,226 after selling 10,728 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 Meritage Portfolio Management’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 , Firstmerit Bank N A Trustee boosted its stake in NOC in the latest quarter, The investment management firm added 6,446 additional shares and now holds a total of 15,468 shares of Northrop Grumman Corporation which is valued at $3,105,201. Northrop Grumman Corporation makes up approx 0.25% of Firstmerit Bank N A Trustee’s portfolio.Hexavest boosted its stake in NOC in the latest quarter, The investment management firm added 13 additional shares and now holds a total of 5,026 shares of Northrop Grumman Corporation which is valued at $1,014,649. Northrop Grumman Corporation makes up approx 0.02% of Hexavest’s portfolio.Proficio Capital Partners boosted its stake in NOC in the latest quarter, The investment management firm added 4 additional shares and now holds a total of 37 shares of Northrop Grumman Corporation which is valued at $7,382. Northrop Grumman Corporation makes up approx 0.01% of Proficio Capital Partners’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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