Burney Co. reduced its stake in shares of Northrop Grumman Corporation (NYSE:NOC) by 2.7% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 26,340 shares of the aerospace company’s stock after selling 731 shares during the period. Burney Co.’s holdings in Northrop Grumman Corporation were worth $6,714,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. First Personal Financial Services raised 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 valued at $111,000 after buying an additional 121 shares during the period. Harbour Capital Advisors LLC acquired a new position in Northrop Grumman Corporation during the first quarter valued at approximately $108,000. Perigon Wealth Management LLC raised 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 valued at $130,000 after buying an additional 15 shares during the period. Global X Management Co. LLC raised 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 valued at $130,000 after buying an additional 212 shares during the period. Finally, Whittier Trust Co. of Nevada Inc. raised 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 valued at $151,000 after buying an additional 95 shares during the period. 81.52% of the stock is owned by institutional investors and hedge funds.

Northrop Grumman Corporation (NYSE NOC) opened at 268.83 on Friday. The firm has a market cap of $46.80 billion, a PE ratio of 20.54 and a beta of 0.66. Northrop Grumman Corporation has a 52 week low of $206.69 and a 52 week high of $274.61. The stock has a 50 day moving average of $267.78 and a 200 day moving average of $253.46.

Northrop Grumman Corporation (NYSE:NOC) last issued its quarterly earnings results on Wednesday, July 26th. The aerospace company reported $3.15 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.84 by $0.31. The business had revenue of $6.38 billion for the quarter, compared to the consensus estimate of $6.21 billion. Northrop Grumman Corporation had a net margin of 9.20% and a return on equity of 39.22%. The firm’s quarterly revenue was up 6.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.85 EPS. Analysts anticipate that Northrop Grumman Corporation will post $12.55 EPS for the current year.

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

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Several analysts recently weighed in on the stock. Morgan Stanley assumed coverage on shares of Northrop Grumman Corporation in a research report on Tuesday, August 8th. They issued an “equal weight” rating and a $279.00 price objective on the stock. BidaskClub upgraded shares of Northrop Grumman Corporation from a “hold” rating to a “buy” rating in a research report on Saturday, August 12th. Goldman Sachs Group, Inc. (The) reiterated a “conviction-buy” rating and issued a $309.00 price objective on shares of Northrop Grumman Corporation in a research report on Wednesday, August 23rd. Argus lifted their price objective on shares of Northrop Grumman Corporation from $270.00 to $295.00 and gave the company a “buy” rating in a research report on Friday, August 4th. Finally, Cowen and Company reiterated a “hold” rating and issued a $275.00 price objective on shares of Northrop Grumman Corporation in a research report on Thursday, August 24th. Six analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Northrop Grumman Corporation currently has a consensus rating of “Buy” and an average price target of $267.36.

In other Northrop Grumman Corporation news, VP Lisa R. Davis sold 367 shares of the company’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 transaction, the vice president now directly owns 961 shares in the company, valued at approximately $252,983.25. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, VP Sid Ashworth sold 3,847 shares of the company’s stock in a transaction dated Wednesday, June 14th. The shares were sold at an average price of $260.00, for a total transaction of $1,000,220.00. Following the transaction, the vice president now owns 69,458 shares in the company, valued at $18,059,080. The disclosure for this sale can be found here. Corporate 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.

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

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