Schafer Cullen Capital Management Inc. trimmed its holdings in shares of Northrop Grumman Corporation (NYSE:NOC) by 2.7% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,604 shares of the aerospace company’s stock after selling 45 shares during the period. Schafer Cullen Capital Management Inc.’s holdings in Northrop Grumman Corporation were worth $412,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of NOC. Waldron LP raised its stake in shares of Northrop Grumman Corporation by 17.1% during the 1st quarter. Waldron LP now owns 2,005 shares of the aerospace company’s stock worth $476,000 after buying an additional 293 shares in the last quarter. Pacer Advisors Inc. raised its stake in shares of Northrop Grumman Corporation by 3.3% during the 1st quarter. Pacer Advisors Inc. now owns 3,768 shares of the aerospace company’s stock worth $896,000 after buying an additional 121 shares in the last quarter. Mitsubishi UFJ Securities Holdings Co. Ltd. purchased a new position in shares of Northrop Grumman Corporation during the 1st quarter worth approximately $219,000. Private Advisor Group LLC raised its stake in shares of Northrop Grumman Corporation by 256.0% during the 1st quarter. Private Advisor Group LLC now owns 35,874 shares of the aerospace company’s stock worth $2,595,000 after buying an additional 25,797 shares in the last quarter. Finally, Aberdeen Asset Management PLC UK raised its stake in shares of Northrop Grumman Corporation by 1.0% during the 1st quarter. Aberdeen Asset Management PLC UK now owns 149,207 shares of the aerospace company’s stock worth $35,488,000 after buying an additional 1,499 shares in the last quarter. 81.37% of the stock is owned by institutional investors and hedge funds.

A number of equities analysts have recently issued reports on the company. Morgan Stanley assumed coverage on Northrop Grumman Corporation in a research note on Tuesday, August 8th. They set an “equal weight” rating and a $279.00 target price for the company. BidaskClub upgraded Northrop Grumman Corporation from a “hold” rating to a “buy” rating in a report on Saturday, August 12th. Jefferies Group LLC restated a “hold” rating and issued a $269.00 price target on shares of Northrop Grumman Corporation in a report on Friday, September 29th. Argus upped their price target on Northrop Grumman Corporation from $270.00 to $295.00 and gave the stock a “buy” rating in a report on Friday, August 4th. Finally, Vertical Research restated a “buy” rating and issued a $296.00 price target (up previously from $280.00) on shares of Northrop Grumman Corporation in a report on Wednesday, September 20th. Seven research analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $276.72.

In other Northrop Grumman Corporation news, VP Lisa R. Davis sold 367 shares of Northrop Grumman Corporation stock in a transaction that occurred on Tuesday, August 1st. The shares were sold at an average price of $263.25, for a total value of $96,612.75. Following the transaction, the vice president now owns 961 shares in the company, valued at $252,983.25. The transaction was disclosed in a document filed with the SEC, which is available at this link. Insiders own 0.70% of the company’s stock.

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Shares of Northrop Grumman Corporation (NOC) traded down 0.76% during midday trading on Friday, reaching $296.40. The company’s stock had a trading volume of 771,082 shares. Northrop Grumman Corporation has a 12 month low of $214.59 and a 12 month high of $299.33. The stock has a market capitalization of $51.60 billion, a PE ratio of 22.64 and a beta of 0.68. The stock’s 50 day moving average is $279.80 and its 200 day moving average is $261.63.

Northrop Grumman Corporation (NYSE:NOC) last posted its quarterly earnings results on Wednesday, July 26th. The aerospace company reported $3.15 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.84 by $0.31. The firm had revenue of $6.38 billion for the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.85 earnings per share. On average, analysts forecast that Northrop Grumman Corporation will post $12.56 EPS for the current fiscal year.

About Northrop Grumman Corporation

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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