Ieq Capital LLC lifted its holdings in shares of Northrop Grumman Co. (NYSE:NOC) by 26.6% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 1,792 shares of the aerospace company’s stock after acquiring an additional 376 shares during the period. Ieq Capital LLC’s holdings in Northrop Grumman were worth $541,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Capital International Investors raised its holdings in Northrop Grumman by 5.7% during the fourth quarter. Capital International Investors now owns 16,203,570 shares of the aerospace company’s stock worth $5,573,546,000 after purchasing an additional 877,311 shares in the last quarter. AQR Capital Management LLC increased its holdings in shares of Northrop Grumman by 141.5% in the fourth quarter. AQR Capital Management LLC now owns 1,072,419 shares of the aerospace company’s stock valued at $368,879,000 after buying an additional 628,367 shares in the last quarter. Jennison Associates LLC increased its holdings in shares of Northrop Grumman by 5,176.0% in the first quarter. Jennison Associates LLC now owns 286,538 shares of the aerospace company’s stock valued at $86,692,000 after buying an additional 281,107 shares in the last quarter. Macquarie Group Ltd. increased its holdings in shares of Northrop Grumman by 11.1% in the fourth quarter. Macquarie Group Ltd. now owns 2,490,685 shares of the aerospace company’s stock valued at $856,721,000 after buying an additional 248,217 shares in the last quarter. Finally, Renaissance Technologies LLC bought a new position in shares of Northrop Grumman in the fourth quarter valued at $83,378,000. Institutional investors and hedge funds own 83.18% of the company’s stock.

NOC has been the topic of several research analyst reports. Morgan Stanley lifted their price objective on shares of Northrop Grumman from $380.00 to $412.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 14th. ValuEngine cut shares of Northrop Grumman from a “hold” rating to a “sell” rating in a research report on Wednesday, April 1st. Goldman Sachs Group cut shares of Northrop Grumman from a “buy” rating to a “sell” rating and lowered their price objective for the stock from $409.00 to $337.00 in a research report on Monday, February 3rd. Barclays reiterated a “buy” rating and set a $455.00 price objective on shares of Northrop Grumman in a research report on Thursday, January 23rd. Finally, Sanford C. Bernstein upgraded shares of Northrop Grumman from a “market perform” rating to an “outperform” rating and lowered their price target for the company from $438.00 to $386.00 in a report on Monday, March 30th. Two analysts have rated the stock with a sell rating, one has given a hold rating and eight have assigned a buy rating to the company’s stock. Northrop Grumman currently has an average rating of “Buy” and a consensus price target of $389.10.

NYSE:NOC traded up $9.70 during trading hours on Friday, reaching $321.63. The company’s stock had a trading volume of 1,672,580 shares, compared to its average volume of 1,150,416. The company has a market cap of $53.62 billion, a price-to-earnings ratio of 24.24 and a beta of 0.81. Northrop Grumman Co. has a one year low of $263.31 and a one year high of $385.01. The business’s 50-day moving average is $328.53 and its 200-day moving average is $345.41. The company has a debt-to-equity ratio of 1.72, a current ratio of 1.29 and a quick ratio of 1.21.

Northrop Grumman (NYSE:NOC) last released its earnings results on Wednesday, April 29th. The aerospace company reported $5.15 earnings per share for the quarter, missing the Zacks’ consensus estimate of $5.51 by ($0.36). The firm had revenue of $8.62 billion for the quarter, compared to analyst estimates of $8.54 billion. Northrop Grumman had a return on equity of 39.22% and a net margin of 6.57%. The firm’s revenue was up 5.3% on a year-over-year basis. During the same period in the prior year, the firm earned $5.06 EPS. On average, sell-side analysts predict that Northrop Grumman Co. will post 22.1 EPS for the current fiscal year.

In other news, VP Mary D. Petryszyn sold 1,200 shares of the company’s stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $370.95, for a total transaction of $445,140.00. Following the completion of the transaction, the vice president now owns 8,901 shares of the company’s stock, valued at $3,301,825.95. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP David T. Perry sold 2,606 shares of the company’s stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $365.28, for a total transaction of $951,919.68. Following the transaction, the vice president now directly owns 14,599 shares of the company’s stock, valued at approximately $5,332,722.72. The disclosure for this sale can be found here. In the last three months, insiders have sold 12,455 shares of company stock valued at $4,401,151. Company insiders own 0.27% of the company’s stock.

About Northrop Grumman

Northrop Grumman Corporation, a security company, provides products in the areas of autonomous systems, cyber, space, strikes, and logistics and modernizations in the United States, the Asia Pacific, and internationally. The company operates through four segments: Aerospace Systems, Innovation Systems, Mission Systems, and Technology Services.

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

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