Bessemer Group Inc. reduced its stake in shares of Northrop Grumman Corporation (NYSE:NOC) by 31.8% during the second quarter, Holdings Channel reports. The firm owned 46,659 shares of the aerospace company’s stock after selling 21,746 shares during the period. Bessemer Group Inc.’s holdings in Northrop Grumman Corporation were worth $11,978,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of NOC. Harbour Capital Advisors LLC acquired a new stake in Northrop Grumman Corporation during the first quarter valued at about $108,000. Horan Capital Management acquired a new stake in Northrop Grumman Corporation during the first quarter valued at about $115,000. Dubuque Bank & Trust Co. raised its stake 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. Global X Management Co. LLC raised its stake in Northrop Grumman Corporation by 63.3% in the first quarter. Global X Management Co. LLC now owns 547 shares of the aerospace company’s stock valued at $130,000 after buying an additional 212 shares during the period. Finally, Perigon Wealth Management LLC raised its stake in Northrop Grumman Corporation by 2.8% in the first quarter. Perigon Wealth Management LLC now owns 546 shares of the aerospace company’s stock valued at $130,000 after buying an additional 15 shares during the period. 82.08% of the stock is currently owned by institutional investors.

Shares of Northrop Grumman Corporation (NYSE:NOC) opened at 270.55 on Friday. Northrop Grumman Corporation has a 12-month low of $206.69 and a 12-month high of $274.61. The company’s 50-day moving average is $263.10 and its 200-day moving average is $249.11. The company has a market cap of $47.10 billion, a price-to-earnings ratio of 20.67 and a beta of 0.66.

Northrop Grumman Corporation (NYSE:NOC) last issued its quarterly earnings results on Wednesday, July 26th. The aerospace company reported $3.15 earnings per share for the quarter, beating 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 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 previous year, the firm earned $2.85 earnings per share. The company’s revenue for the quarter was up 6.3% on a year-over-year basis. Equities research analysts predict that Northrop Grumman Corporation will post $12.55 earnings per share for the current year.

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Several research firms have recently issued reports on NOC. Argus boosted their price target on shares of Northrop Grumman Corporation from $270.00 to $295.00 and gave the company a “buy” rating in a research report on Friday, August 4th. Morgan Stanley began coverage on shares of Northrop Grumman Corporation in a research report on Tuesday. They issued an “equal weight” rating and a $279.00 price target on the stock. BidaskClub lowered shares of Northrop Grumman Corporation from a “buy” rating to a “hold” rating in a research report on Monday, July 31st. Vertical Research raised shares of Northrop Grumman Corporation from a “hold” rating to a “buy” rating and boosted their price target for the company from $254.00 to $270.00 in a research report on Wednesday, May 10th. Finally, Cowen and Company reissued a “hold” rating and issued a $275.00 price target on shares of Northrop Grumman Corporation in a research report on Monday, July 17th. Eight analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $259.93.

In other 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 transaction of $96,612.75. Following the sale, 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. Also, VP Sid Ashworth sold 3,847 shares of Northrop Grumman Corporation stock in a transaction that occurred on Wednesday, June 14th. The shares were sold at an average price of $260.00, for a total transaction of $1,000,220.00. Following the sale, the vice president now owns 69,458 shares in the company, valued at approximately $18,059,080. The disclosure for this sale can be found here. 0.70% of the stock is owned by 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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