New Century Investment Management Inc Lowers stake in Northrop Grumman Corporation (NOC)

Northrop Grumman Corporation (NOC) : New Century Investment Management Inc reduced its stake in Northrop Grumman Corporation by 11.58% during the most recent quarter end. The investment management company now holds a total of 20,449 shares of Northrop Grumman Corporation which is valued at $4,490,600 after selling 2,679 shares in Northrop Grumman Corporation , the firm said in a disclosure report filed with the SEC on Jul 20, 2016.Northrop Grumman Corporation makes up approximately 2.31% of New Century Investment Management Inc’s portfolio.

Other Hedge Funds, Including , Arcadia Investment Management Corpmi boosted its stake in NOC in the latest quarter, The investment management firm added 9 additional shares and now holds a total of 167 shares of Northrop Grumman Corporation which is valued at $36,875. Northrop Grumman Corporation makes up approx 0.01% of Arcadia Investment Management Corpmi’s portfolio.Sumitomo Life Insurance Co reduced its stake in NOC by selling 283 shares or 3.4% in the most recent quarter. The Hedge Fund company now holds 8,045 shares of NOC which is valued at $1,776,416. Northrop Grumman Corporation makes up approx 0.24% of Sumitomo Life Insurance Co’s portfolio. Cabot Wealth Management Inc added NOC to its portfolio by purchasing 7,650 company shares during the most recent quarter which is valued at $1,696,617. Northrop Grumman Corporation makes up approx 0.44% of Cabot Wealth Management Inc’s portfolio.

Northrop Grumman Corporation opened for trading at $222.25 and hit $223.22 on the upside on Wednesday, eventually ending the session at $222.55, with a gain of 0.45% or 1 points. The heightened volatility saw the trading volume jump to 12,84,222 shares. Company has a market cap of $40,160 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.

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 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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