Mitsubishi UFJ Kokusai Asset Management Co. Ltd. lowered its stake in shares of Northrop Grumman Corporation (NYSE:NOC) by 11.2% during the second quarter, Holdings Channel reports. The firm owned 23,941 shares of the aerospace company’s stock after selling 3,029 shares during the period. Mitsubishi UFJ Kokusai Asset Management Co. Ltd.’s holdings in Northrop Grumman Corporation were worth $6,146,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of NOC. Shelton Capital Management boosted its stake in Northrop Grumman Corporation by 70.5% in the first quarter. Shelton Capital Management now owns 17,200 shares of the aerospace company’s stock worth $4,091,000 after buying an additional 7,112 shares during the last quarter. Evermay Wealth Management LLC acquired a new stake in Northrop Grumman Corporation during the first quarter worth about $286,000. Holderness Investments Co. boosted its stake in Northrop Grumman Corporation by 38.6% in the first quarter. Holderness Investments Co. now owns 2,587 shares of the aerospace company’s stock worth $615,000 after buying an additional 720 shares during the last quarter. Renaissance Technologies LLC boosted its stake in Northrop Grumman Corporation by 331.4% in the first quarter. Renaissance Technologies LLC now owns 989,200 shares of the aerospace company’s stock worth $235,271,000 after buying an additional 759,900 shares during the last quarter. Finally, Los Angeles Capital Management & Equity Research Inc. boosted its stake in Northrop Grumman Corporation by 0.6% in the first quarter. Los Angeles Capital Management & Equity Research Inc. now owns 13,418 shares of the aerospace company’s stock worth $3,191,000 after buying an additional 84 shares during the last quarter. 81.80% of the stock is owned by hedge funds and other institutional investors.

Northrop Grumman Corporation (NYSE:NOC) opened at 271.14 on Wednesday. The stock’s 50 day moving average price is $264.29 and its 200-day moving average price is $250.26. The company has a market cap of $47.20 billion, a price-to-earnings ratio of 20.71 and a beta of 0.66. Northrop Grumman Corporation has a 52 week low of $206.69 and a 52 week high of $274.61.

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

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A number of analysts have recently issued reports on NOC shares. Vertical Research raised Northrop Grumman Corporation from a “hold” rating to a “buy” rating and raised their price objective for the company from $254.00 to $270.00 in a research report on Wednesday, May 10th. Deutsche Bank AG reaffirmed a “buy” rating and issued a $285.00 price objective (up from $275.00) on shares of Northrop Grumman Corporation in a research report on Thursday, July 27th. Argus raised their price objective on Northrop Grumman Corporation from $270.00 to $295.00 and gave the company a “buy” rating in a research report on Friday, August 4th. BidaskClub raised Northrop Grumman Corporation from a “hold” rating to a “buy” rating in a research report on Saturday. Finally, Morgan Stanley started coverage on Northrop Grumman Corporation in a research report on Tuesday, August 8th. They issued an “equal weight” rating and a $279.00 price objective for the company. Seven analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $259.93.

In related news, 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 value of $1,000,220.00. Following the transaction, the vice president now owns 69,458 shares in the company, valued at $18,059,080. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, 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 value of $96,612.75. Following the completion of the transaction, the vice president now owns 961 shares in the company, valued at approximately $252,983.25. The disclosure for this sale can be found here. 0.70% of the stock is currently 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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