Global X Management Co LLC grew its stake in shares of Northrop Grumman Co. (NYSE:NOC) by 136.6% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 3,220 shares of the aerospace company’s stock after purchasing an additional 1,859 shares during the period. Global X Management Co LLC’s holdings in Northrop Grumman were worth $991,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in NOC. Cornerstone Wealth Management LLC raised its holdings in shares of Northrop Grumman by 31,477.7% during the second quarter. Cornerstone Wealth Management LLC now owns 779,970 shares of the aerospace company’s stock valued at $2,525,000 after purchasing an additional 777,500 shares during the period. Point72 Asset Management L.P. raised its holdings in shares of Northrop Grumman by 1,187.9% during the second quarter. Point72 Asset Management L.P. now owns 439,175 shares of the aerospace company’s stock valued at $135,134,000 after purchasing an additional 405,075 shares during the period. Millennium Management LLC increased its position in shares of Northrop Grumman by 153.0% during the second quarter. Millennium Management LLC now owns 600,981 shares of the aerospace company’s stock worth $184,922,000 after acquiring an additional 363,407 shares in the last quarter. Lord Abbett & CO. LLC increased its position in shares of Northrop Grumman by 289.9% during the first quarter. Lord Abbett & CO. LLC now owns 408,550 shares of the aerospace company’s stock worth $142,633,000 after acquiring an additional 303,769 shares in the last quarter. Finally, PointState Capital LP bought a new stake in shares of Northrop Grumman during the first quarter worth about $99,988,000. 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 company’s stock in a transaction dated 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 directly owns 13,656 shares of the company’s stock, valued at approximately $4,097,073.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Patrick M. Antkowiak sold 5,137 shares of the company’s stock in a transaction dated Monday, September 17th. The stock was sold at an average price of $310.00, for a total transaction of $1,592,470.00. Following the completion of the sale, the vice president now directly owns 5,371 shares of the company’s stock, valued at $1,665,010. The disclosure for this sale can be found here. Insiders sold a total of 36,612 shares of company stock valued at $10,982,801 over the last ninety days. 0.62% of the stock is currently owned by insiders.

Shares of NOC stock opened at $314.58 on Thursday. Northrop Grumman Co. has a 52-week low of $283.77 and a 52-week high of $360.88. The company has a quick ratio of 1.15, a current ratio of 1.24 and a debt-to-equity ratio of 1.75. The stock has a market capitalization of $53.30 billion, a price-to-earnings ratio of 23.64, a PEG ratio of 1.62 and a beta of 0.67.

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

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 12th. Shareholders of record on Monday, August 27th were given a $1.20 dividend. This represents a $4.80 dividend on an annualized basis and a yield of 1.53%. The ex-dividend date was Friday, August 24th. Northrop Grumman’s payout ratio is 36.14%.

Several equities research analysts have recently commented on NOC shares. Buckingham Research raised shares of Northrop Grumman from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $246.00 to $371.00 in a research report on Tuesday, July 31st. They noted that the move was a valuation call. Zacks Investment Research raised shares of Northrop Grumman from a “hold” rating to a “buy” rating and set a $379.00 target price for the company in a research report on Monday, June 11th. Goldman Sachs Group decreased their target price on shares of Northrop Grumman to $414.00 and set a “conviction-buy” rating for the company in a research report on Thursday, July 26th. Stifel Nicolaus reissued a “hold” rating and set a $300.00 target price on shares of Northrop Grumman in a research report on Thursday, July 26th. Finally, ValuEngine downgraded shares of Northrop Grumman from a “buy” rating to a “hold” rating in a research report on Tuesday, June 12th. Eight equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company. Northrop Grumman has a consensus rating of “Buy” and an average target price of $365.83.

Northrop Grumman Company Profile

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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