Andra AP fonden boosted its position in shares of Northrop Grumman Corporation (NYSE:NOC) by 5.4% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 57,864 shares of the aerospace company’s stock after buying an additional 2,964 shares during the quarter. Andra AP fonden’s holdings in Northrop Grumman Corporation were worth $16,649,000 at the end of the most recent reporting period.
Other hedge funds have also recently added to or reduced their stakes in the company. Shelton Capital Management grew its position in Northrop Grumman Corporation by 70.5% during the first quarter. Shelton Capital Management now owns 17,200 shares of the aerospace company’s stock valued at $4,091,000 after buying an additional 7,112 shares during the period. Assenagon Asset Management S.A. acquired a new stake in shares of Northrop Grumman Corporation in the third quarter valued at about $30,405,000. Caxton Associates LP acquired a new stake in shares of Northrop Grumman Corporation in the second quarter valued at about $5,134,000. Renaissance Technologies LLC grew its position in shares of 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 purchasing an additional 759,900 shares during the period. Finally, Gerber Kawasaki Wealth & Investment Management grew its position in shares of Northrop Grumman Corporation by 4.4% in the second quarter. Gerber Kawasaki Wealth & Investment Management now owns 27,847 shares of the aerospace company’s stock valued at $7,289,000 after purchasing an additional 1,180 shares during the period. Institutional investors own 81.50% of the company’s stock.
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Several analysts have recently issued reports on the stock. Argus lifted their target price 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. Stifel Nicolaus reiterated a “hold” rating and issued a $255.00 target price (up previously from $245.00) on shares of Northrop Grumman Corporation in a research report on Thursday, July 27th. Vertical Research reiterated a “buy” rating and issued a $296.00 target price (up previously from $280.00) on shares of Northrop Grumman Corporation in a research report on Wednesday, September 20th. Royal Bank Of Canada lifted their target price on shares of Northrop Grumman Corporation from $324.00 to $347.00 and gave the company an “outperform” rating in a research report on Thursday, October 26th. Finally, Deutsche Bank AG reiterated a “buy” rating and issued a $325.00 target price (up previously from $285.00) on shares of Northrop Grumman Corporation in a research report on Monday, October 2nd. Seven analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Northrop Grumman Corporation presently has a consensus rating of “Buy” and an average target price of $290.54.
In other news, VP Sid Ashworth sold 6,311 shares of the stock in a transaction dated Friday, October 27th. The shares were sold at an average price of $298.00, for a total transaction of $1,880,678.00. Following the transaction, the vice president now directly owns 63,147 shares in the company, valued at approximately $18,817,806. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 0.70% of the company’s stock.
Northrop Grumman Corporation (NYSE:NOC) last announced its quarterly earnings data on Wednesday, October 25th. The aerospace company reported $3.68 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $2.92 by $0.76. The business had revenue of $6.53 billion for the quarter, compared to analyst estimates of $6.33 billion. Northrop Grumman Corporation had a net margin of 9.24% and a return on equity of 39.76%. The company’s revenue was up 6.0% on a year-over-year basis. During the same period in the prior year, the firm posted $3.35 EPS.
Northrop Grumman Corporation 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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