Oakmont Corp Lowers stake in Northrop Grumman Corporation (NOC)

Northrop Grumman Corporation (NOC) : Oakmont Corp reduced its stake in Northrop Grumman Corporation by 22.89% during the most recent quarter end. The investment management company now holds a total of 218,840 shares of Northrop Grumman Corporation which is valued at $46.8 Million after selling 64,970 shares in Northrop Grumman Corporation , the firm said in a disclosure report filed with the SEC on May 12, 2016.Northrop Grumman Corporation makes up approximately 7.90% of Oakmont Corp’s portfolio.

Other Hedge Funds, Including , Eulav Asset Management boosted its stake in NOC in the latest quarter, The investment management firm added 11,400 additional shares and now holds a total of 39,800 shares of Northrop Grumman Corporation which is valued at $8.5 Million. Northrop Grumman Corporation makes up approx 0.48% of Eulav Asset Management’s portfolio.Martingale Asset Management L P reduced its stake in NOC by selling 6,803 shares or 11.67% in the most recent quarter. The Hedge Fund company now holds 51,489 shares of NOC which is valued at $11 Million. Northrop Grumman Corporation makes up approx 0.22% of Martingale Asset Management L P’s portfolio.Hanseatic Management Services Inc boosted its stake in NOC in the latest quarter, The investment management firm added 4,074 additional shares and now holds a total of 14,608 shares of Northrop Grumman Corporation which is valued at $3.1 Million. Northrop Grumman Corporation makes up approx 1.14% of Hanseatic Management Services Inc’s portfolio.Nisa Investment Advisors L.l.c. reduced its stake in NOC by selling 825 shares or 0.81% in the most recent quarter. The Hedge Fund company now holds 101,477 shares of NOC which is valued at $20.9 Million. Northrop Grumman Corporation makes up approx 0.30% of Nisa Investment Advisors L.l.c.’s portfolio.

Northrop Grumman Corporation opened for trading at $212.29 and hit $213.02 on the upside on Friday, eventually ending the session at $212.72, with a gain of 0.78% or 1.65 points. The heightened volatility saw the trading volume jump to 7,29,320 shares. Company has a market cap of $38,386 M.

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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