First Manhattan Co. decreased its stake in shares of Northrop Grumman Corporation (NYSE:NOC) by 0.1% during the second quarter, Holdings Channel reports. The fund owned 14,945 shares of the aerospace company’s stock after selling 10 shares during the period. First Manhattan Co.’s holdings in Northrop Grumman Corporation were worth $3,836,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of NOC. Harbour Capital Advisors LLC acquired a new stake in Northrop Grumman Corporation during the first quarter valued at about $108,000. Horan Capital Management acquired a new stake in Northrop Grumman Corporation during the first quarter valued at about $115,000. Dubuque Bank & Trust Co. raised 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 last quarter. Global X Management Co. LLC raised 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 last quarter. Finally, Perigon Wealth Management LLC raised 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 last quarter. Institutional investors and hedge funds own 82.08% of the company’s stock.

Northrop Grumman Corporation (NOC) opened at 269.28 on Friday. The company has a 50-day moving average of $263.45 and a 200-day moving average of $249.38. The company has a market capitalization of $46.88 billion, a P/E ratio of 20.57 and a beta of 0.66. Northrop Grumman Corporation has a 1-year low of $206.69 and a 1-year high of $274.61.

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

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NOC has been the subject of several recent analyst reports. Deutsche Bank AG reaffirmed a “buy” rating and set a $285.00 price objective (up from $275.00) on shares of Northrop Grumman Corporation in a research note on Thursday, July 27th. Argus upped their price objective on shares of Northrop Grumman Corporation from $270.00 to $295.00 and gave the company a “buy” rating in a research note on Friday, August 4th. Vertical Research raised shares of Northrop Grumman Corporation from a “hold” rating to a “buy” rating and upped their price objective for the company from $254.00 to $270.00 in a research note on Wednesday, May 10th. Morgan Stanley initiated coverage on shares of Northrop Grumman Corporation in a research note on Tuesday. They set an “equal weight” rating and a $279.00 price objective for the company. Finally, BidaskClub downgraded shares of Northrop Grumman Corporation from a “buy” rating to a “hold” rating in a research note on Monday, July 31st. Eight equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $259.93.

In other Northrop Grumman Corporation news, VP Lisa R. Davis sold 367 shares of the business’s stock in a transaction dated Tuesday, August 1st. The shares were sold at an average price of $263.25, for a total value of $96,612.75. Following the completion of the sale, the vice president now directly owns 961 shares of the company’s stock, valued at approximately $252,983.25. The transaction was disclosed in a filing 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 dated 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 completion of the sale, the vice president now directly 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 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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