USS Investment Management Ltd increased its stake in shares of Northrop Grumman Corporation (NYSE:NOC) by 4.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 25,700 shares of the aerospace company’s stock after buying an additional 1,200 shares during the period. USS Investment Management Ltd’s holdings in Northrop Grumman Corporation were worth $6,597,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. BlackRock Inc. increased its stake 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 valued at $3,038,501,000 after buying an additional 12,345,491 shares in the last quarter. Alliancebernstein L.P. increased its stake in shares of 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 in the last quarter. Winslow Capital Management LLC bought a new stake in shares of Northrop Grumman Corporation during the first quarter valued at about $198,691,000. Renaissance Technologies LLC increased its stake 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 buying an additional 759,900 shares in the last quarter. Finally, Vanguard Group Inc. increased its stake in shares of 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 in the last quarter. Institutional investors and hedge funds own 81.80% of the company’s stock.

Shares of Northrop Grumman Corporation (NYSE:NOC) opened at 269.33 on Friday. Northrop Grumman Corporation has a 52 week low of $206.69 and a 52 week high of $274.61. The firm’s 50-day moving average price is $266.76 and its 200 day moving average price is $252.21. The firm has a market capitalization of $46.89 billion, a price-to-earnings ratio of 20.57 and a beta of 0.66.

Northrop Grumman Corporation (NYSE:NOC) last issued its earnings results on Wednesday, July 26th. The aerospace company reported $3.15 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ 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 during the quarter, compared to the consensus estimate of $6.21 billion. During the same period last year, the business posted $2.85 EPS. Northrop Grumman Corporation’s revenue was up 6.3% on a year-over-year basis. On average, analysts anticipate that Northrop Grumman Corporation will post $12.55 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 13th. Investors of record on Monday, August 28th will be paid a $1.00 dividend. The ex-dividend date is Thursday, August 24th. This represents a $4.00 annualized dividend and a yield of 1.49%. Northrop Grumman Corporation’s dividend payout ratio (DPR) is currently 30.56%.

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NOC has been the topic of several recent research reports. Jefferies Group LLC restated a “hold” rating and issued a $243.00 price objective on shares of Northrop Grumman Corporation in a research report on Wednesday, June 21st. Stifel Nicolaus restated a “hold” rating and issued a $255.00 price objective (up from $245.00) on shares of Northrop Grumman Corporation in a research report on Thursday, July 27th. Deutsche Bank AG restated 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. Vertical Research upgraded Northrop Grumman Corporation from a “hold” rating to a “buy” rating and increased their target price for the stock from $254.00 to $270.00 in a research report on Wednesday, May 10th. Finally, Cowen and Company reiterated a “hold” rating and set a $275.00 target price on shares of Northrop Grumman Corporation in a research report on Monday, July 17th. Six equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $265.51.

In related news, VP Sid Ashworth sold 3,847 shares of the firm’s stock in a transaction dated 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 completion of the sale, the vice president now directly owns 69,458 shares in the company, valued at approximately $18,059,080. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Lisa R. Davis sold 367 shares of the firm’s stock in a transaction dated 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 sale, the vice president now owns 961 shares of the company’s stock, valued at $252,983.25. The disclosure for this sale can be found here. Company insiders own 0.70% of the company’s stock.

About Northrop Grumman Corporation

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.

Institutional Ownership by Quarter for Northrop Grumman Corporation (NYSE:NOC)

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