Andra AP fonden trimmed its holdings in shares of Northrop Grumman Co. (NYSE:NOC) by 4.4% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 28,300 shares of the aerospace company’s stock after selling 1,300 shares during the period. Andra AP fonden’s holdings in Northrop Grumman were worth $8,708,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of the stock. Massachusetts Financial Services Co. MA boosted its holdings in Northrop Grumman by 0.3% during the second quarter. Massachusetts Financial Services Co. MA now owns 4,102,561 shares of the aerospace company’s stock worth $1,262,358,000 after buying an additional 14,085 shares in the last quarter. Bank of America Corp DE boosted its holdings in Northrop Grumman by 6.5% during the second quarter. Bank of America Corp DE now owns 2,317,955 shares of the aerospace company’s stock worth $713,234,000 after buying an additional 142,267 shares in the last quarter. Macquarie Group Ltd. boosted its holdings in Northrop Grumman by 2.4% during the second quarter. Macquarie Group Ltd. now owns 2,178,242 shares of the aerospace company’s stock worth $670,245,000 after buying an additional 50,422 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in Northrop Grumman by 9.3% during the second quarter. Bank of New York Mellon Corp now owns 1,529,563 shares of the aerospace company’s stock worth $470,646,000 after buying an additional 130,066 shares in the last quarter. Finally, Morgan Stanley boosted its holdings in Northrop Grumman by 9.2% during the second quarter. Morgan Stanley now owns 1,045,931 shares of the aerospace company’s stock worth $321,832,000 after buying an additional 88,338 shares in the last quarter. Hedge funds and other institutional investors own 81.45% of the company’s stock.

In other Northrop Grumman news, VP Lesley A. Kalan sold 1,065 shares of the stock in a transaction that occurred on Monday, August 27th. The shares were sold at an average price of $300.02, for a total value of $319,521.30. Following the completion of the sale, the vice president now owns 13,656 shares in the company, valued at approximately $4,097,073.12. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Mark A. Caylor sold 4,543 shares of the stock in a transaction that occurred on Thursday, August 30th. The stock was sold at an average price of $297.45, for a total transaction of $1,351,315.35. Following the completion of the sale, the vice president now owns 24,592 shares of the company’s stock, valued at approximately $7,314,890.40. The disclosure for this sale can be found here. In the last quarter, insiders sold 31,475 shares of company stock valued at $9,390,331. Insiders own 0.62% of the company’s stock.

NOC stock opened at $317.63 on Wednesday. Northrop Grumman Co. has a 12-month low of $275.02 and a 12-month high of $360.88. The company has a debt-to-equity ratio of 1.75, a current ratio of 1.24 and a quick ratio of 1.15. The company has a market capitalization of $53.52 billion, a price-to-earnings ratio of 23.64, a P/E/G ratio of 1.63 and a beta of 0.68.

Northrop Grumman (NYSE:NOC) last released its earnings results on Wednesday, July 25th. The aerospace company reported $3.93 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.84 by $0.09. Northrop Grumman had a net margin of 8.33% and a return on equity of 34.88%. The company had revenue of $7.12 billion during the quarter, compared to the consensus estimate of $7.10 billion. During the same quarter in the prior year, the firm earned $3.16 EPS. The company’s revenue was up 10.0% compared to the same quarter last year. research analysts expect that Northrop Grumman Co. will post 16.84 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 12th. Shareholders of record on Monday, August 27th were given a $1.20 dividend. The ex-dividend date of this dividend was Friday, August 24th. This represents a $4.80 dividend on an annualized basis and a yield of 1.51%. Northrop Grumman’s payout ratio is 36.14%.

A number of brokerages recently weighed in on NOC. ValuEngine cut shares of Northrop Grumman from a “buy” rating to a “hold” rating in a report on Tuesday, June 12th. Credit Suisse Group upped their price target on shares of Northrop Grumman from $326.00 to $341.00 and gave the company a “neutral” rating in a research report on Wednesday, June 27th. Stifel Nicolaus restated a “hold” rating and issued a $300.00 price target on shares of Northrop Grumman in a research report on Thursday, July 26th. JPMorgan Chase & Co. reduced their price target on shares of Northrop Grumman from $375.00 to $360.00 and set an “overweight” rating for the company in a research report on Friday, July 27th. Finally, Zacks Investment Research downgraded shares of Northrop Grumman from a “buy” rating to a “hold” rating in a research report on Tuesday, August 7th. Eight research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Northrop Grumman presently has a consensus rating of “Buy” and a consensus target price of $362.16.

About Northrop Grumman

Northrop Grumman Corporation operates as a security company for government and commercial customers worldwide. It provides products, systems, and solutions in autonomous systems; cyber; command, control, communications and computers, intelligence, surveillance, and reconnaissance (C4ISR); strike; and logistics and modernization.

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

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