Congress Asset Management Co. MA bought a new stake in Northrop Grumman Corporation (NYSE:NOC) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 168,619 shares of the aerospace company’s stock, valued at approximately $43,286,000.

A number of other hedge funds have also recently bought and sold shares of the company. Harbour Capital Advisors LLC bought a new stake in Northrop Grumman Corporation during the first quarter valued at $108,000. Horan Capital Management bought a new stake in Northrop Grumman Corporation during the first quarter valued at $115,000. Dubuque Bank & Trust Co. boosted its stake in Northrop Grumman Corporation by 1.8% in the first quarter. Dubuque Bank & Trust Co. now owns 501 shares of the aerospace company’s stock valued at $119,000 after buying an additional 9 shares during the period. Global X Management Co. LLC boosted its stake in Northrop Grumman Corporation by 63.3% in the first quarter. Global X Management Co. LLC now owns 547 shares of the aerospace company’s stock valued at $130,000 after buying an additional 212 shares during the period. Finally, Perigon Wealth Management LLC boosted its stake in Northrop Grumman Corporation by 2.8% in the first quarter. Perigon Wealth Management LLC now owns 546 shares of the aerospace company’s stock valued at $130,000 after buying an additional 15 shares during the period. Institutional investors and hedge funds own 82.08% of the company’s stock.

Northrop Grumman Corporation (NOC) opened at 269.24 on Monday. The company’s 50 day moving average is $261.05 and its 200 day moving average is $247.53. The company has a market cap of $46.87 billion, a price-to-earnings ratio of 20.57 and a beta of 0.66. Northrop Grumman Corporation has a 12-month low of $206.69 and a 12-month high of $269.24.

Northrop Grumman Corporation (NYSE:NOC) last released its quarterly earnings results on Wednesday, July 26th. The aerospace company reported $3.15 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $2.84 by $0.31. The company had revenue of $6.38 billion for the quarter, compared to the consensus estimate of $6.21 billion. Northrop Grumman Corporation had a net margin of 9.20% and a return on equity of 39.22%. Northrop Grumman Corporation’s revenue was up 6.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.85 earnings per share. Analysts forecast that Northrop Grumman Corporation will post $12.56 earnings per share for the current fiscal year.

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Several analysts have recently weighed in on NOC shares. Zacks Investment Research upgraded shares of Northrop Grumman Corporation from a “hold” rating to a “buy” rating and set a $270.00 price objective on the stock in a research report on Thursday, April 13th. Vertical Research upgraded shares of Northrop Grumman Corporation from a “hold” rating to a “buy” rating and raised their price objective for the company from $254.00 to $270.00 in a research report on Wednesday, May 10th. Jefferies Group LLC restated a “hold” rating and set a $243.00 price objective on shares of Northrop Grumman Corporation in a research report on Wednesday, June 21st. Cowen and Company restated a “hold” rating and set a $275.00 price objective on shares of Northrop Grumman Corporation in a research report on Monday, July 17th. Finally, Stifel Nicolaus restated a “hold” rating and set a $255.00 price objective (up previously from $245.00) on shares of Northrop Grumman Corporation in a research report on Thursday, July 27th. Seven analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $258.47.

In related news, VP Lisa R. Davis sold 367 shares of the company’s stock in a transaction on Tuesday, August 1st. The shares were sold at an average price of $263.25, for a total transaction of $96,612.75. Following the sale, the vice president now owns 961 shares of the company’s stock, valued at $252,983.25. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, VP Thomas E. Vice sold 29,740 shares of the company’s stock in a transaction on Wednesday, May 10th. The shares were sold at an average price of $250.00, for a total transaction of $7,435,000.00. Following the sale, the vice president now directly owns 72,453 shares in the company, valued at approximately $18,113,250. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 33,954 shares of company stock worth $8,531,833. 0.70% of the stock is owned by insiders.

Northrop Grumman Corporation Company Profile

Northrop Grumman Corporation is a global security company. The Company provides products, systems and solutions in autonomous systems; cyber; command, control, communications and computers, intelligence, surveillance and reconnaissance (C4ISR); strike, and logistics and modernization. The Company’s segments include Aerospace Systems, Mission Systems and Technology Services.

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Institutional Ownership by Quarter for Northrop Grumman Corporation (NYSE:NOC)

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