Baker Avenue Asset Management Lp Lowers stake in Northrop Grumman Corporation (NOC)

Northrop Grumman Corporation (NOC) : Baker Avenue Asset Management Lp reduced its stake in Northrop Grumman Corporation by 4.76% during the most recent quarter end. The investment management company now holds a total of 25,493 shares of Northrop Grumman Corporation which is valued at $5.5 Million after selling 1,274 shares in Northrop Grumman Corporation , the firm said in a disclosure report filed with the SEC on May 13, 2016.Northrop Grumman Corporation makes up approximately 0.83% of Baker Avenue Asset Management Lp’s portfolio.

Other Hedge Funds, Including , Hugh Johnson Advisors boosted its stake in NOC in the latest quarter, The investment management firm added 125 additional shares and now holds a total of 1,566 shares of Northrop Grumman Corporation which is valued at $335,093. Northrop Grumman Corporation makes up approx 0.13% of Hugh Johnson Advisors’s portfolio.Municipal Employees’ Retirement System Of Michigan reduced its stake in NOC by selling 90 shares or 1.59% in the most recent quarter. The Hedge Fund company now holds 5,560 shares of NOC which is valued at $1.2 Million. Northrop Grumman Corporation makes up approx 0.08% of Municipal Employees’ Retirement System Of Michigan’s portfolio.

Northrop Grumman Corporation closed down -0.35 points or -0.16% at $214.33 with 6,13,106 shares getting traded on Wednesday. Post opening the session at $215.75, the shares hit an intraday low of $214.28 and an intraday high of $216.09 and the price fluctuated in this range throughout the day.Shares ended Wednesday session in Red.

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.

Investors should note that on May 17, 2016, Northrop Grumman Corporation announced a cash dividend of $0.9000. The company’s management has announced Jun 2, 2016 as the ex-dividend date and fixed the record date on Jun 6, 2016. The payable date has been fixed on Jun 22, 2016.

Many Wall Street Analysts have commented on Northrop Grumman Corporation. RBC Capital Mkts Downgraded Northrop Grumman Corporation on May 19, 2016 to ” Sector Perform”, Price Target of the shares are set at $222.Company shares were Reiterated by Barclays on May 2, 2016 to “Equal Weight”, Firm has raised the Price Target to $ 200 from a previous price target of $189 .Northrop Grumman Corporation was Initiated by Guggenheim to “Buy” on Apr 5, 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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