Baker Avenue Asset Management LP Increases Position in Northrop Grumman Corporation (NYSE:NOC)

Baker Avenue Asset Management LP boosted its stake in shares of Northrop Grumman Corporation (NYSE:NOC) by 44.0% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 13,557 shares of the aerospace company’s stock after buying an additional 4,141 shares during the period. Baker Avenue Asset Management LP’s holdings in Northrop Grumman Corporation were worth $3,224,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of NOC. Horan Capital Management bought a new position in shares of Northrop Grumman Corporation during the first quarter valued at approximately $115,000. Dubuque Bank & Trust Co. raised its position in shares of Northrop Grumman Corporation by 1.8% in the first quarter. Dubuque Bank & Trust Co. now owns 501 shares of the aerospace company’s stock valued at $119,000 after buying an additional 9 shares in the last quarter. Perigon Wealth Management LLC raised its position in shares of Northrop Grumman Corporation by 6.8% in the fourth quarter. Perigon Wealth Management LLC now owns 531 shares of the aerospace company’s stock valued at $129,000 after buying an additional 34 shares in the last quarter. Global X Management Co. LLC raised its position in shares of 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 worth $130,000 after buying an additional 212 shares during the period. Finally, Quadrant Capital Group LLC raised its position in shares of Northrop Grumman Corporation by 12.4% in the first quarter. Quadrant Capital Group LLC now owns 590 shares of the aerospace company’s stock worth $132,000 after buying an additional 65 shares during the period. 82.08% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Northrop Grumman Corporation (NOC) traded down 0.47% during mid-day trading on Friday, hitting $269.28. The stock had a trading volume of 701,394 shares. The firm has a market cap of $46.88 billion, a price-to-earnings ratio of 20.57 and a beta of 0.66. The company has a 50-day moving average of $263.45 and a 200 day moving average of $249.38. Northrop Grumman Corporation has a one year low of $206.69 and a one year high of $274.61.

Northrop Grumman Corporation (NYSE:NOC) last issued its quarterly earnings results on Wednesday, July 26th. The aerospace company reported $3.15 EPS for the quarter, beating analysts’ consensus estimates of $2.84 by $0.31. The company had revenue of $6.38 billion for the quarter, compared to analyst estimates of $6.21 billion. Northrop Grumman Corporation had a return on equity of 39.22% and a net margin of 9.20%. The company’s quarterly revenue was up 6.3% compared to the same quarter last year. During the same period in the previous year, the company posted $2.85 earnings per share. On average, equities research analysts forecast that Northrop Grumman Corporation will post $12.55 earnings per share for the current year.

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NOC has been the topic of a number of research reports. Vertical Research upgraded shares of Northrop Grumman Corporation from a “hold” rating to a “buy” rating and raised their target price for the stock from $254.00 to $270.00 in a research report on Wednesday, May 10th. Jefferies Group LLC reaffirmed a “hold” rating and set a $243.00 price target on shares of Northrop Grumman Corporation in a report on Wednesday, June 21st. Cowen and Company reaffirmed a “hold” rating and set a $275.00 price target on shares of Northrop Grumman Corporation in a report on Monday, July 17th. Stifel Nicolaus reaffirmed a “hold” rating and set a $255.00 price target (up from $245.00) on shares of Northrop Grumman Corporation in a report on Thursday, July 27th. Finally, Deutsche Bank AG reissued 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 research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. The stock 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 the business’s stock in a transaction that occurred on Wednesday, June 14th. The stock was 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 of the company’s stock, valued at $18,059,080. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, VP Lisa R. Davis sold 367 shares of the business’s stock in a transaction that occurred on Tuesday, August 1st. The stock was sold at an average price of $263.25, for a total value 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 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.

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

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