State Treasurer State of Michigan Has $43.42 Million Stake in Northrop Grumman Corporation (NOC)

State Treasurer State of Michigan lifted its holdings in shares of Northrop Grumman Corporation (NYSE:NOC) by 162.8% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 150,917 shares of the aerospace company’s stock after purchasing an additional 93,500 shares during the quarter. State Treasurer State of Michigan owned 0.09% of Northrop Grumman Corporation worth $43,422,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Shelton Capital Management grew its holdings in shares of Northrop Grumman Corporation by 70.5% during the first quarter. Shelton Capital Management now owns 17,200 shares of the aerospace company’s stock worth $4,091,000 after purchasing an additional 7,112 shares in the last quarter. Caxton Associates LP purchased a new position in shares of Northrop Grumman Corporation during the second quarter worth about $5,134,000. Renaissance Technologies LLC grew its holdings in shares of Northrop Grumman Corporation by 331.4% during the first quarter. Renaissance Technologies LLC now owns 989,200 shares of the aerospace company’s stock worth $235,271,000 after purchasing an additional 759,900 shares in the last quarter. Gerber Kawasaki Wealth & Investment Management grew its holdings in shares of Northrop Grumman Corporation by 4.4% during the second quarter. Gerber Kawasaki Wealth & Investment Management now owns 27,847 shares of the aerospace company’s stock worth $7,289,000 after purchasing an additional 1,180 shares in the last quarter. Finally, Concert Wealth Management Inc. grew its holdings in shares of Northrop Grumman Corporation by 0.7% during the first quarter. Concert Wealth Management Inc. now owns 1,083 shares of the aerospace company’s stock worth $252,000 after purchasing an additional 8 shares in the last quarter. 81.25% of the stock is owned by institutional investors.

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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 stock was sold at an average price of $263.25, for a total value 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 sale was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 0.70% of the company’s stock.

Shares of Northrop Grumman Corporation (NYSE:NOC) traded up 0.43% during mid-day trading on Monday, reaching $295.88. The company’s stock had a trading volume of 166,338 shares. The stock has a market capitalization of $51.51 billion, a P/E ratio of 22.60 and a beta of 0.68. Northrop Grumman Corporation has a 12-month low of $214.59 and a 12-month high of $299.33. The company’s 50-day moving average price is $282.88 and its 200-day moving average price is $263.46.

Northrop Grumman Corporation (NYSE:NOC) last released 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. The business had revenue of $6.38 billion during the quarter, compared to analysts’ expectations of $6.21 billion. Northrop Grumman Corporation had a return on equity of 39.22% and a net margin of 9.20%. The firm’s revenue for the quarter was up 6.3% compared to the same quarter last year. During the same quarter last year, the business posted $2.85 EPS. On average, equities research analysts forecast that Northrop Grumman Corporation will post $12.55 earnings per share for the current fiscal year.

Several research analysts have recently commented on the company. Jefferies Group LLC reissued a “hold” rating and set a $269.00 price objective on shares of Northrop Grumman Corporation in a report on Friday, September 29th. Deutsche Bank AG reissued a “buy” rating and set a $325.00 price objective (up previously from $285.00) on shares of Northrop Grumman Corporation in a report on Monday, October 2nd. Zacks Investment Research lowered Northrop Grumman Corporation from a “buy” rating to a “hold” rating in a report on Tuesday, September 26th. Stifel Nicolaus reissued a “hold” rating and set a $255.00 price objective on shares of Northrop Grumman Corporation in a report on Thursday, September 21st. Finally, Vertical Research reissued a “buy” rating and set a $296.00 price objective (up previously from $280.00) on shares of Northrop Grumman Corporation in a report on Wednesday, September 20th. Seven research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. Northrop Grumman Corporation currently has an average rating of “Buy” and an average price target of $276.72.

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.

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

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