Toronto Dominion Bank increased its stake in shares of Northrop Grumman Corporation (NYSE:NOC) by 25.2% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 59,532 shares of the aerospace company’s stock after buying an additional 11,991 shares during the quarter. Toronto Dominion Bank’s holdings in Northrop Grumman Corporation were worth $15,280,000 at the end of the most recent quarter.
A number of other institutional investors also recently made changes to their positions in NOC. BlackRock Inc. grew its holdings in Northrop Grumman Corporation by 2,871.7% during the first quarter. BlackRock Inc. now owns 12,775,397 shares of the aerospace company’s stock worth $3,038,501,000 after buying an additional 12,345,491 shares in the last quarter. Janus Henderson Group PLC grew its holdings 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 buying an additional 2,912,953 shares in the last quarter. Alliancebernstein L.P. grew its holdings in Northrop Grumman Corporation by 64.6% during the first quarter. Alliancebernstein L.P. now owns 3,149,678 shares of the aerospace company’s stock worth $749,119,000 after buying an additional 1,235,985 shares in the last quarter. Winslow Capital Management LLC bought a new stake in Northrop Grumman Corporation during the first quarter worth $198,691,000. Finally, Renaissance Technologies LLC grew its holdings in Northrop Grumman Corporation by 331.4% during the first quarter. Renaissance Technologies LLC now owns 989,200 shares of the aerospace company’s stock worth $235,271,000 after buying an additional 759,900 shares in the last quarter. Institutional investors and hedge funds own 81.37% of the company’s stock.
Shares of Northrop Grumman Corporation (NYSE:NOC) traded down 0.76% on Friday, reaching $296.40. The company’s stock had a trading volume of 771,082 shares. Northrop Grumman Corporation has a 52-week low of $214.59 and a 52-week high of $299.33. The stock has a 50-day moving average of $279.80 and a 200 day moving average of $261.63. The company has a market cap of $51.60 billion, a price-to-earnings ratio of 22.64 and a beta of 0.68.
Northrop Grumman Corporation (NYSE:NOC) last issued its quarterly earnings data on Wednesday, July 26th. The aerospace company reported $3.15 EPS for the quarter, topping the Thomson Reuters’ 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 company had revenue of $6.38 billion during the quarter, compared to analyst estimates of $6.21 billion. During the same quarter in the previous year, the company posted $2.85 earnings per share. Northrop Grumman Corporation’s revenue was up 6.3% compared to the same quarter last year. On average, equities research analysts forecast that Northrop Grumman Corporation will post $12.56 earnings per share for the current year.
Several brokerages recently issued reports on NOC. Zacks Investment Research upgraded Northrop Grumman Corporation from a “hold” rating to a “buy” rating and set a $309.00 price target for the company in a report on Wednesday, September 20th. Deutsche Bank AG reiterated a “buy” rating and set a $325.00 price target (up previously from $285.00) on shares of Northrop Grumman Corporation in a report on Monday, October 2nd. Argus upped their price target on Northrop Grumman Corporation from $270.00 to $295.00 and gave the stock a “buy” rating in a report on Friday, August 4th. Morgan Stanley began coverage on Northrop Grumman Corporation in a report on Tuesday, August 8th. They set an “equal weight” rating and a $279.00 price target for the company. Finally, BidaskClub downgraded Northrop Grumman Corporation from a “buy” rating to a “hold” rating in a report on Monday, July 31st. Seven equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. Northrop Grumman Corporation presently has a consensus rating of “Buy” and an average price target of $276.72.
In other Northrop Grumman Corporation news, VP Lisa R. Davis sold 367 shares of the business’s 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 sale, the vice president now owns 961 shares of the company’s stock, valued at $252,983.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.70% of the company’s stock.
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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.
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