Pointe Capital Management LLC raised its position in Northrop Grumman Corporation (NYSE:NOC) by 1.6% during the second quarter, Holdings Channel reports. The firm owned 1,101 shares of the aerospace company’s stock after buying an additional 17 shares during the period. Pointe Capital Management LLC’s holdings in Northrop Grumman Corporation were worth $283,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of the company. BlackRock Inc. boosted its position in shares of Northrop Grumman Corporation by 2,871.7% in the first quarter. BlackRock Inc. now owns 12,775,397 shares of the aerospace company’s stock worth $3,038,501,000 after buying an additional 12,345,491 shares during the period. Alliancebernstein L.P. boosted its stake in Northrop Grumman Corporation by 64.6% in the first quarter. Alliancebernstein L.P. now owns 3,149,678 shares of the aerospace company’s stock valued at $749,119,000 after buying an additional 1,235,985 shares during the last quarter. Winslow Capital Management LLC purchased a new stake in Northrop Grumman Corporation during the first quarter valued at approximately $198,691,000. 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 valued at $235,271,000 after buying an additional 759,900 shares during the last quarter. Finally, Vanguard Group Inc. boosted its stake in Northrop Grumman Corporation by 4.3% in the first quarter. Vanguard Group Inc. now owns 12,764,239 shares of the aerospace company’s stock valued at $3,035,847,000 after buying an additional 531,824 shares during the last quarter. 81.80% of the stock is owned by institutional investors and hedge funds.

Northrop Grumman Corporation (NOC) opened at 271.14 on Wednesday. The firm has a 50 day moving average of $264.29 and a 200-day moving average of $250.26. The firm 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 one year low of $206.69 and a one year high of $274.61.

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

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Several research firms have commented on NOC. BidaskClub raised shares of Northrop Grumman Corporation from a “hold” rating to a “buy” rating in a research note on Saturday. Morgan Stanley began coverage on shares of Northrop Grumman Corporation in a research note on Tuesday, August 8th. They issued an “equal weight” rating and a $279.00 target price for the company. Argus lifted their target price on shares of Northrop Grumman Corporation from $270.00 to $295.00 and gave the stock a “buy” rating in a research note on Friday, August 4th. Deutsche Bank AG reaffirmed a “buy” rating and issued a $285.00 target price (up from $275.00) on shares of Northrop Grumman Corporation in a research note on Thursday, July 27th. Finally, Stifel Nicolaus reaffirmed a “hold” rating and issued a $255.00 target price (up from $245.00) on shares of Northrop Grumman Corporation in a research note on Thursday, July 27th. Seven analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Northrop Grumman Corporation has an average rating of “Buy” and an average target price of $259.93.

In other Northrop Grumman Corporation news, VP Sid Ashworth sold 3,847 shares of the company’s stock in a transaction that occurred on Wednesday, June 14th. The shares were 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 approximately $18,059,080. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 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 transaction 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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