State of Michigan Retirement System boosted its position in shares of Northrop Grumman Co. (NYSE:NOC) by 10.3% during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 39,633 shares of the aerospace company’s stock after purchasing an additional 3,716 shares during the period. State of Michigan Retirement System’s holdings in Northrop Grumman were worth $12,185,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Duality Advisers LP purchased a new position in Northrop Grumman during the 2nd quarter worth approximately $2,932,000. Perigon Wealth Management LLC grew its position in Northrop Grumman by 4.5% during the 2nd quarter. Perigon Wealth Management LLC now owns 1,070 shares of the aerospace company’s stock worth $329,000 after purchasing an additional 46 shares in the last quarter. Trust Co. of Virginia VA purchased a new position in Northrop Grumman during the 2nd quarter worth approximately $5,193,000. Eads & Heald Wealth Management grew its position in Northrop Grumman by 22.9% during the 2nd quarter. Eads & Heald Wealth Management now owns 4,366 shares of the aerospace company’s stock worth $1,342,000 after purchasing an additional 814 shares in the last quarter. Finally, Main Street Research LLC purchased a new position in Northrop Grumman during the 2nd quarter worth approximately $12,470,000. Hedge funds and other institutional investors own 83.97% of the company’s stock.

Several equities analysts have recently commented on the stock. TheStreet cut shares of Northrop Grumman from a “b-” rating to a “c” rating in a report on Monday, July 13th. Royal Bank of Canada boosted their price target on shares of Northrop Grumman from $366.00 to $391.00 and gave the company a “sector perform” rating in a report on Friday. Zacks Investment Research upgraded shares of Northrop Grumman from a “sell” rating to a “hold” rating and set a $320.00 price target on the stock in a report on Thursday, June 25th. Jefferies Financial Group restated a “buy” rating and set a $375.00 price target on shares of Northrop Grumman in a report on Thursday, June 25th. Finally, Sanford C. Bernstein boosted their price target on shares of Northrop Grumman from $405.00 to $419.00 and gave the company an “outperform” rating in a report on Friday. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and six have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $385.00.

Shares of NOC stock traded down $1.00 on Friday, hitting $325.01. The company’s stock had a trading volume of 1,161,532 shares, compared to its average volume of 1,004,148. The company has a debt-to-equity ratio of 1.61, a current ratio of 1.35 and a quick ratio of 1.21. Northrop Grumman Co. has a fifty-two week low of $263.31 and a fifty-two week high of $385.01. The firm’s fifty day moving average price is $308.15 and its 200-day moving average price is $332.27. The stock has a market capitalization of $54.18 billion, a price-to-earnings ratio of 22.86 and a beta of 0.79.

Northrop Grumman (NYSE:NOC) last released its quarterly earnings data on Thursday, July 30th. The aerospace company reported $6.01 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.32 by $0.69. Northrop Grumman had a net margin of 6.91% and a return on equity of 40.24%. The business had revenue of $8.88 billion during the quarter, compared to analyst estimates of $8.66 billion. During the same quarter in the previous year, the business earned $5.06 EPS. Northrop Grumman’s quarterly revenue was up 5.1% compared to the same quarter last year. Analysts predict that Northrop Grumman Co. will post 22.15 EPS for the current fiscal year.

Northrop Grumman Profile

Northrop Grumman Corporation, a security company, provides products in the areas of autonomous systems, cyber, space, strikes, and logistics and modernizations in the United States, the Asia Pacific, and internationally. The company operates through four segments: Aerospace Systems, Innovation Systems, Mission Systems, and Technology Services.

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

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