Putnam Investments LLC Cut Holding in Northrop Grumman Corp (NOC) by $187.77 Million

May 18, 2018 - By Adrian Mccoy

Northrop Grumman Corporation (NYSE:NOC) LogoInvestors sentiment decreased to 0.98 in Q4 2017. Its down 0.08, from 1.06 in 2017Q3. It dived, as 46 investors sold NOC shares while 287 reduced holdings. 105 funds opened positions while 222 raised stakes. 137.07 million shares or 0.41% less from 137.63 million shares in 2017Q3 were reported. Moreover, Northside Capital Mgmt Lc has 0.84% invested in Northrop Grumman Corporation (NYSE:NOC) for 9,596 shares. Suntrust Banks Incorporated holds 0.03% of its portfolio in Northrop Grumman Corporation (NYSE:NOC) for 18,019 shares. Penobscot Investment Mngmt Incorporated holds 3,214 shares. Gam Holding Ag has 0.64% invested in Northrop Grumman Corporation (NYSE:NOC). The United Kingdom-based Gsa Capital Partners Llp has invested 0.16% in Northrop Grumman Corporation (NYSE:NOC). Schulhoff Communication reported 2,105 shares stake. Parsons Cap Mgmt Ri, Rhode Island-based fund reported 831 shares. Legal & General Group Incorporated Public Limited, United Kingdom-based fund reported 891,651 shares. Next Fincl Grp Inc invested in 0.22% or 1,679 shares. Employees Retirement Of Texas stated it has 0.11% of its portfolio in Northrop Grumman Corporation (NYSE:NOC). Natixis invested in 0.3% or 126,675 shares. Massachusetts-based Modera Wealth Mngmt Limited Liability has invested 0.11% in Northrop Grumman Corporation (NYSE:NOC). Raymond James Financial Service Advsrs holds 47,497 shares. Shamrock Asset Mgmt Limited Liability Company, a Texas-based fund reported 24 shares. Patten, a Tennessee-based fund reported 1,900 shares.

Since February 13, 2018, it had 0 insider purchases, and 9 sales for $6.82 million activity. Shares for $1.03 million were sold by Hardesty Michael A. $1.31M worth of stock was sold by Peppard Denise M. on Monday, February 26.

Putnam Investments Llc decreased its stake in Northrop Grumman Corp (NOC) by 17.58% based on its latest 2017Q4 regulatory filing with the SEC. Putnam Investments Llc sold 613,642 shares as the company’s stock rose 14.98% while stock markets declined. The institutional investor held 2.88M shares of the industrial machinery and components company at the end of 2017Q4, valued at $882.91M, down from 3.49M at the end of the previous reported quarter. Putnam Investments Llc who had been investing in Northrop Grumman Corp for a number of months, seems to be less bullish one the $57.44 billion market cap company. The stock increased 1.50% or $4.878 during the last trading session, reaching $329.398. About 224,975 shares traded. Northrop Grumman Corporation (NYSE:NOC) has risen 48.11% since May 18, 2017 and is uptrending. It has outperformed by 36.56% the S&P500.

Putnam Investments Llc, which manages about $89.35 billion and $44.83B US Long portfolio, upped its stake in T (NYSE:TMUS) by 114,600 shares to 165,788 shares, valued at $10.53 million in 2017Q4, according to the filing. It also increased its holding in Constellation Brands Inc (NYSE:STZ) by 41,554 shares in the quarter, for a total of 483,307 shares, and has risen its stake in Devon Energy Corp (NYSE:DVN).

Analysts await Northrop Grumman Corporation (NYSE:NOC) to report earnings on July, 25. They expect $3.64 EPS, up 15.56 % or $0.49 from last year’s $3.15 per share. NOC’s profit will be $634.76M for 22.62 P/E if the $3.64 EPS becomes a reality. After $4.21 actual EPS reported by Northrop Grumman Corporation for the previous quarter, Wall Street now forecasts -13.54 % negative EPS growth.

More notable recent Northrop Grumman Corporation (NYSE:NOC) news were published by: Seekingalpha.com which released: “Aerospace And Defense Stocks: Which Are Best Wealth-Builders?” on May 16, 2018, also Bizjournals.com with their article: “Lockheed Martin, Northrop Grumman, more, land $41.7M in local defense work” published on May 04, 2018, Globenewswire.com published: “Northrop Grumman to Webcast Annual Shareholders Meeting” on May 11, 2018. More interesting news about Northrop Grumman Corporation (NYSE:NOC) were released by: Fool.com and their article: “Northrop’s Sales and Earnings Surge — So Why Did Its Shares Sink?” published on April 30, 2018 as well as Streetinsider.com‘s news article titled: “JANA Shows New Stakes in Apple (AAPL), Boston Scientific (BSX), Dropbox (DBX), iQIYI (IQ) (more..) -13F” with publication date: May 15, 2018.

Northrop Grumman Corporation (NYSE:NOC) Ratings Coverage

Among 13 analysts covering Northrop (NYSE:NOC), 9 have Buy rating, 0 Sell and 4 Hold. Therefore 69% are positive. Northrop had 16 analyst reports since December 12, 2017 according to SRatingsIntel. The company was upgraded on Wednesday, February 14 by Jefferies. On Tuesday, December 12 the stock rating was upgraded by J.P. Morgan to “Buy”. Morgan Stanley maintained Northrop Grumman Corporation (NYSE:NOC) on Friday, February 23 with “Equal-Weight” rating. The stock of Northrop Grumman Corporation (NYSE:NOC) earned “Neutral” rating by Credit Suisse on Thursday, April 26. Morgan Stanley maintained the stock with “Equal-Weight” rating in Thursday, April 12 report. Goldman Sachs upgraded the stock to “Buy” rating in Tuesday, May 8 report. Bernstein maintained Northrop Grumman Corporation (NYSE:NOC) rating on Thursday, April 26. Bernstein has “Hold” rating and $35200 target. The rating was maintained by RBC Capital Markets with “Buy” on Friday, April 6. RBC Capital Markets maintained the shares of NOC in report on Tuesday, January 23 with “Buy” rating. The firm has “Buy” rating by Robert W. Baird given on Friday, January 26.

Northrop Grumman Corporation (NYSE:NOC) Institutional Positions Chart

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