CIBC Asset Management Inc increased its stake in shares of Northrop Grumman Corporation (NYSE:NOC) by 2.7% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 17,112 shares of the aerospace company’s stock after buying an additional 444 shares during the period. CIBC Asset Management Inc’s holdings in Northrop Grumman Corporation were worth $4,393,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Benjamin F. Edwards & Company Inc. increased its position in Northrop Grumman Corporation by 0.4% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 837 shares of the aerospace company’s stock valued at $199,000 after buying an additional 3 shares during the period. Concert Wealth Management Inc. increased its position in Northrop Grumman Corporation by 0.7% in the first quarter. Concert Wealth Management Inc. now owns 1,083 shares of the aerospace company’s stock valued at $252,000 after buying an additional 8 shares during the period. Dubuque Bank & Trust Co. increased its position 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. Argent Trust Co increased its position in Northrop Grumman Corporation by 0.7% in the first quarter. Argent Trust Co now owns 1,691 shares of the aerospace company’s stock valued at $401,000 after buying an additional 11 shares during the period. Finally, Wetherby Asset Management Inc. increased its position in Northrop Grumman Corporation by 0.4% in the first quarter. Wetherby Asset Management Inc. now owns 3,107 shares of the aerospace company’s stock valued at $739,000 after buying an additional 12 shares during the period. 82.08% of the stock is owned by institutional investors and hedge funds.

Shares of Northrop Grumman Corporation (NYSE:NOC) opened at 273.10 on Thursday. The stock has a market capitalization of $47.55 billion, a price-to-earnings ratio of 20.86 and a beta of 0.66. The company has a 50-day moving average of $262.80 and a 200-day moving average of $248.96. Northrop Grumman Corporation has a 52-week low of $206.69 and a 52-week high of $273.80.

Northrop Grumman Corporation (NYSE:NOC) last announced its earnings results on Wednesday, July 26th. The aerospace company reported $3.15 earnings per share for the quarter, topping the consensus estimate 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 firm had revenue of $6.38 billion for the quarter, compared to the consensus estimate of $6.21 billion. During the same period in the prior year, the firm earned $2.85 EPS. The firm’s revenue for the quarter was up 6.3% on a year-over-year basis. Equities research analysts anticipate that Northrop Grumman Corporation will post $12.55 EPS for the current year.

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Several research firms have commented on NOC. Argus increased their price objective on shares of Northrop Grumman Corporation from $270.00 to $295.00 and gave the company a “buy” rating in a report on Friday, August 4th. Stifel Nicolaus reissued a “hold” rating and set a $255.00 price objective (up previously from $245.00) on shares of Northrop Grumman Corporation in a report on Thursday, July 27th. Jefferies Group LLC reissued a “hold” rating and set a $243.00 price objective on shares of Northrop Grumman Corporation in a report on Wednesday, June 21st. Vertical Research raised shares of Northrop Grumman Corporation from a “hold” rating to a “buy” rating and increased their price objective for the company from $254.00 to $270.00 in a report on Wednesday, May 10th. Finally, Morgan Stanley began coverage on shares of Northrop Grumman Corporation in a report on Tuesday. They set an “equal weight” rating and a $279.00 price objective for the company. Eight equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $259.93.

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