Los Angeles Capital Management & Equity Research Inc. Acquires 136,613 Shares of Northrop Grumman Corporation (NYSE:NOC)

Los Angeles Capital Management & Equity Research Inc. lifted its stake in shares of Northrop Grumman Corporation (NYSE:NOC) by 1,018.1% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 150,031 shares of the aerospace company’s stock after purchasing an additional 136,613 shares during the period. Los Angeles Capital Management & Equity Research Inc. owned about 0.09% of Northrop Grumman Corporation worth $38,514,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Harbour Capital Advisors LLC acquired a new position in shares of Northrop Grumman Corporation during the first quarter valued at approximately $108,000. First Personal Financial Services grew its position in Northrop Grumman Corporation by 39.0% in the second quarter. First Personal Financial Services now owns 431 shares of the aerospace company’s stock worth $111,000 after buying an additional 121 shares during the last quarter. Global X Management Co. LLC grew its position in Northrop Grumman Corporation by 63.3% in the first quarter. Global X Management Co. LLC now owns 547 shares of the aerospace company’s stock worth $130,000 after buying an additional 212 shares during the last quarter. Perigon Wealth Management LLC grew its position in Northrop Grumman Corporation by 2.8% in the first quarter. Perigon Wealth Management LLC now owns 546 shares of the aerospace company’s stock worth $130,000 after buying an additional 15 shares during the last quarter. Finally, Whittier Trust Co. of Nevada Inc. grew its position in Northrop Grumman Corporation by 19.2% in the second quarter. Whittier Trust Co. of Nevada Inc. now owns 590 shares of the aerospace company’s stock worth $151,000 after buying an additional 95 shares during the last quarter. 81.52% of the stock is currently owned by hedge funds and other institutional investors.

Northrop Grumman Corporation (NYSE:NOC) traded down 0.62% during trading on Wednesday, reaching $267.29. 146,678 shares of the company’s stock were exchanged. Northrop Grumman Corporation has a 52-week low of $208.09 and a 52-week high of $274.61. The firm has a market cap of $46.53 billion, a P/E ratio of 20.42 and a beta of 0.66. The stock’s 50 day moving average price is $268.20 and its 200 day moving average price is $254.50.

Northrop Grumman Corporation (NYSE:NOC) last released its earnings results on Wednesday, July 26th. The aerospace company reported $3.15 EPS for the quarter, beating the 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 firm had revenue of $6.38 billion for the quarter, compared to analyst estimates of $6.21 billion. During the same period last year, the firm earned $2.85 EPS. The business’s quarterly revenue was up 6.3% compared to the same quarter last year. Equities research analysts anticipate that Northrop Grumman Corporation will post $12.55 EPS for the current fiscal year.

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

In related news, VP Lisa R. Davis sold 367 shares of Northrop Grumman Corporation 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 sale, the vice president now directly owns 961 shares of the company’s stock, valued at approximately $252,983.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.70% of the company’s stock.

Several equities analysts have weighed in on the stock. Argus lifted their price objective on shares of Northrop Grumman Corporation from $270.00 to $295.00 and gave the stock a “buy” rating in a research report on Friday, August 4th. Morgan Stanley assumed coverage on shares of Northrop Grumman Corporation in a research report on Tuesday, August 8th. They set an “equal weight” rating and a $279.00 price objective on the stock. BidaskClub lowered shares of Northrop Grumman Corporation from a “buy” rating to a “hold” rating in a research note on Monday, July 31st. Goldman Sachs Group, Inc. (The) reissued a “conviction-buy” rating and set a $309.00 target price on shares of Northrop Grumman Corporation in a research note on Wednesday, August 23rd. Finally, Zacks Investment Research raised shares of Northrop Grumman Corporation from a “hold” rating to a “buy” rating and set a $305.00 target price for the company in a research note on Tuesday, September 5th. Seven investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $269.86.

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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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