Daiwa Securities Group Inc. cut its stake in Northrop Grumman Corporation (NYSE:NOC) by 57.4% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 7,490 shares of the aerospace company’s stock after selling 10,100 shares during the period. Daiwa Securities Group Inc.’s holdings in Northrop Grumman Corporation were worth $1,923,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of NOC. Harbour Capital Advisors LLC bought a new stake in shares of Northrop Grumman Corporation during the first quarter valued at approximately $108,000. Horan Capital Management bought a new stake in shares of Northrop Grumman Corporation during the first quarter valued at approximately $115,000. Dubuque Bank & Trust Co. increased its stake in shares of 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 increased its stake in shares of 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 increased its stake in shares of 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. 82.08% of the stock is owned by hedge funds and other institutional investors.

Northrop Grumman Corporation (NYSE NOC) opened at 270.55 on Friday. Northrop Grumman Corporation has a one year low of $206.69 and a one year high of $274.61. The company has a market capitalization of $47.10 billion, a price-to-earnings ratio of 20.67 and a beta of 0.66. The firm’s 50-day moving average price is $263.10 and its 200 day moving average price is $249.11.

Northrop Grumman Corporation (NYSE:NOC) last announced its quarterly earnings data on Wednesday, July 26th. The aerospace company reported $3.15 earnings per share for the quarter, topping analysts’ consensus estimates of $2.84 by $0.31. Northrop Grumman Corporation had a net margin of 9.20% and a return on equity of 39.22%. The company had revenue of $6.38 billion during the quarter, compared to analyst estimates of $6.21 billion. During the same period in the previous year, the business earned $2.85 EPS. The firm’s revenue for the quarter was up 6.3% on a year-over-year basis. On average, equities research analysts expect that Northrop Grumman Corporation will post $12.55 earnings per share for the current fiscal year.

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Several analysts have recently commented on NOC shares. Deutsche Bank AG reissued a “buy” rating and issued a $285.00 price objective (up from $275.00) on shares of Northrop Grumman Corporation in a research note on Thursday, July 27th. Vertical Research raised Northrop Grumman Corporation from a “hold” rating to a “buy” rating and increased their price objective for the stock from $254.00 to $270.00 in a research note on Wednesday, May 10th. Zacks Investment Research raised Northrop Grumman Corporation from a “hold” rating to a “buy” rating and set a $270.00 target price for the company in a report on Thursday, April 13th. Argus upped their target price on Northrop Grumman Corporation from $270.00 to $295.00 and gave the company a “buy” rating in a report on Friday, August 4th. Finally, Morgan Stanley began coverage on Northrop Grumman Corporation in a report on Tuesday. They issued an “equal weight” rating and a $279.00 target price for the company. Eight equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $259.93.

In other Northrop Grumman Corporation news, VP Lisa R. Davis sold 367 shares of the business’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 completion of the sale, the vice president now directly owns 961 shares in the company, valued at approximately $252,983.25. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, VP Sid Ashworth sold 3,847 shares of the business’s stock in a transaction on Wednesday, June 14th. The shares were sold at an average price of $260.00, for a total transaction of $1,000,220.00. Following the sale, the vice president now owns 69,458 shares of the company’s stock, valued at $18,059,080. The disclosure for this sale can be found here. 0.70% of the stock is currently 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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