Peapack Gladstone Financial Corp trimmed its stake in shares of Northrop Grumman Corporation (NYSE:NOC) by 1.8% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,079 shares of the aerospace company’s stock after selling 20 shares during the quarter. Peapack Gladstone Financial Corp’s holdings in Northrop Grumman Corporation were worth $277,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its position in Northrop Grumman Corporation by 1.5% during the second quarter. Vanguard Group Inc. now owns 12,956,906 shares of the aerospace company’s stock worth $3,326,168,000 after purchasing an additional 192,667 shares during the period. BlackRock Inc. boosted its position in Northrop Grumman Corporation by 0.9% during the second quarter. BlackRock Inc. now owns 12,884,929 shares of the aerospace company’s stock worth $3,307,687,000 after purchasing an additional 109,532 shares during the period. Massachusetts Financial Services Co. MA boosted its position in Northrop Grumman Corporation by 5.5% during the first quarter. Massachusetts Financial Services Co. MA now owns 4,617,954 shares of the aerospace company’s stock worth $1,098,335,000 after purchasing an additional 239,260 shares during the period. Alliancebernstein L.P. boosted its position in Northrop Grumman Corporation by 4.8% during the second quarter. Alliancebernstein L.P. now owns 3,300,832 shares of the aerospace company’s stock worth $847,357,000 after purchasing an additional 151,154 shares during the period. Finally, Janus Henderson Group PLC boosted its position in Northrop Grumman Corporation by 41,518.7% during the second quarter. Janus Henderson Group PLC now owns 2,919,969 shares of the aerospace company’s stock worth $749,585,000 after purchasing an additional 2,912,953 shares during the period. 81.37% of the stock is owned by hedge funds and other institutional investors.

A number of equities analysts have commented on the stock. Deutsche Bank AG reaffirmed a “buy” rating and set a $325.00 price objective (up from $285.00) on shares of Northrop Grumman Corporation in a research report on Monday, October 2nd. Jefferies Group LLC reissued a “hold” rating and issued a $269.00 target price on shares of Northrop Grumman Corporation in a research report on Friday, September 29th. Zacks Investment Research cut shares of Northrop Grumman Corporation from a “buy” rating to a “hold” rating in a research report on Tuesday, September 26th. Stifel Nicolaus reissued a “hold” rating and issued a $255.00 target price on shares of Northrop Grumman Corporation in a research report on Thursday, September 21st. Finally, Vertical Research reissued a “buy” rating and issued a $296.00 target price (up previously from $280.00) on shares of Northrop Grumman Corporation in a research 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 given a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $276.72.

Northrop Grumman Corporation (NOC) traded up 0.22% during midday trading on Friday, reaching $293.33. 381,961 shares of the company traded hands. The firm has a 50-day moving average price of $275.79 and a 200-day moving average price of $259.43. Northrop Grumman Corporation has a one year low of $214.59 and a one year high of $293.38. The firm has a market capitalization of $51.07 billion, a price-to-earnings ratio of 22.41 and a beta of 0.68.

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

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 13th. Shareholders of record on Monday, August 28th were paid a $1.00 dividend. The ex-dividend date was Thursday, August 24th. This represents a $4.00 annualized dividend and a yield of 1.36%. Northrop Grumman Corporation’s dividend payout ratio is currently 30.56%.

In other Northrop Grumman Corporation news, VP Lisa R. Davis sold 367 shares of the firm’s stock in a transaction dated 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 filing with the SEC, which can be accessed through the SEC website. 0.70% of the stock is owned by company insiders.

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Northrop Grumman Corporation Company Profile

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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