Highstreet Asset Management Inc. acquired a new stake in shares of Northrop Grumman Corporation (NYSE:NOC) during the second quarter, according to its most recent 13F filing with the SEC. The firm acquired 745 shares of the aerospace company’s stock, valued at approximately $191,000.

Several other institutional investors also recently made changes to their positions in the stock. Benjamin F. Edwards & Company Inc. raised its position in shares of Northrop Grumman Corporation by 0.4% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 837 shares of the aerospace company’s stock valued at $199,000 after buying an additional 3 shares in the last quarter. Concert Wealth Management Inc. raised its stake in Northrop Grumman Corporation by 0.7% in the first quarter. Concert Wealth Management Inc. now owns 1,083 shares of the aerospace company’s stock worth $252,000 after buying an additional 8 shares in the last quarter. Dubuque Bank & Trust Co. raised its stake in Northrop Grumman Corporation by 1.8% in the first quarter. Dubuque Bank & Trust Co. now owns 501 shares of the aerospace company’s stock worth $119,000 after buying an additional 9 shares in the last quarter. Argent Trust Co raised its stake in Northrop Grumman Corporation by 0.7% in the first quarter. Argent Trust Co now owns 1,691 shares of the aerospace company’s stock worth $401,000 after buying an additional 11 shares in the last quarter. Finally, Wetherby Asset Management Inc. raised its stake in Northrop Grumman Corporation by 0.4% in the first quarter. Wetherby Asset Management Inc. now owns 3,107 shares of the aerospace company’s stock worth $739,000 after buying an additional 12 shares in the last quarter. Hedge funds and other institutional investors own 81.80% of the company’s stock.

Shares of Northrop Grumman Corporation (NYSE:NOC) opened at 267.61 on Monday. The stock has a market cap of $46.59 billion, a price-to-earnings ratio of 20.44 and a beta of 0.66. Northrop Grumman Corporation has a 1-year low of $206.69 and a 1-year high of $274.61. The firm has a 50-day moving average of $265.37 and a 200 day moving average of $250.80.

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, topping 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 net margin of 9.20% and a return on equity of 39.22%. The business’s revenue for the quarter was up 6.3% compared to the same quarter last year. During the same period in the previous year, the company earned $2.85 earnings per share. Equities research analysts forecast that Northrop Grumman Corporation will post $12.55 earnings per share for the current 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. 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 presently 30.56%.

COPYRIGHT VIOLATION WARNING: “745 Shares in Northrop Grumman Corporation (NOC) Acquired by Highstreet Asset Management Inc.” was posted by The Cerbat Gem and is owned by of The Cerbat Gem. If you are viewing this report on another site, it was illegally copied and republished in violation of United States and international copyright & trademark legislation. The correct version of this report can be read at https://www.thecerbatgem.com/2017/08/21/745-shares-in-northrop-grumman-corporation-noc-acquired-by-highstreet-asset-management-inc.html.

A number of equities research analysts recently weighed in on NOC shares. Vertical Research upgraded shares of Northrop Grumman Corporation from a “hold” rating to a “buy” rating and upped their target price for the stock from $254.00 to $270.00 in a report on Wednesday, May 10th. Jefferies Group LLC restated a “hold” rating and issued a $243.00 target price on shares of Northrop Grumman Corporation in a report on Wednesday, June 21st. Cowen and Company restated a “hold” rating and issued a $275.00 target price on shares of Northrop Grumman Corporation in a report on Monday, July 17th. Stifel Nicolaus restated a “hold” rating and issued a $255.00 target price (up previously from $245.00) on shares of Northrop Grumman Corporation in a report on Thursday, July 27th. Finally, Deutsche Bank AG restated a “buy” rating and issued a $285.00 target price (up previously from $275.00) on shares of Northrop Grumman Corporation in a report on Thursday, July 27th. Seven equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Northrop Grumman Corporation has a consensus rating of “Buy” and an average target price of $259.93.

In other Northrop Grumman Corporation news, VP Sid Ashworth sold 3,847 shares of Northrop Grumman Corporation 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 transaction, the vice president now directly owns 69,458 shares of the company’s stock, valued at $18,059,080. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Lisa R. Davis sold 367 shares of Northrop Grumman Corporation stock in a transaction dated Tuesday, August 1st. The stock was sold at an average price of $263.25, for a total transaction of $96,612.75. Following the completion of the transaction, the vice president now directly owns 961 shares of the company’s stock, valued at $252,983.25. The disclosure for this sale can be found here. 0.70% of the stock is currently owned by insiders.

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.

Want to see what other hedge funds are holding NOC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Northrop Grumman Corporation (NYSE:NOC).

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

Receive News & Stock Ratings for Northrop Grumman Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Northrop Grumman Corporation and related stocks with our FREE daily email newsletter.