Wedge Capital Management L L P NC Invests $59.57 Million in Northrop Grumman Corporation (NOC)

Wedge Capital Management L L P NC bought a new position in shares of Northrop Grumman Corporation (NYSE:NOC) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 232,038 shares of the aerospace company’s stock, valued at approximately $59,566,000. Wedge Capital Management L L P NC owned approximately 0.13% of Northrop Grumman Corporation as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of NOC. Arizona State Retirement System increased its stake in Northrop Grumman Corporation by 9.0% in the second quarter. Arizona State Retirement System now owns 56,153 shares of the aerospace company’s stock valued at $14,415,000 after buying an additional 4,622 shares in the last quarter. National Planning Corp increased its stake in Northrop Grumman Corporation by 36.9% in the second quarter. National Planning Corp now owns 2,191 shares of the aerospace company’s stock valued at $565,000 after buying an additional 590 shares in the last quarter. Schwab Charles Investment Management Inc. increased its stake in Northrop Grumman Corporation by 3.9% in the second quarter. Schwab Charles Investment Management Inc. now owns 620,517 shares of the aerospace company’s stock valued at $159,293,000 after buying an additional 23,095 shares in the last quarter. Canada Pension Plan Investment Board increased its stake in Northrop Grumman Corporation by 131.5% in the second quarter. Canada Pension Plan Investment Board now owns 33,800 shares of the aerospace company’s stock valued at $8,677,000 after buying an additional 19,200 shares in the last quarter. Finally, Pointe Capital Management LLC increased its stake in Northrop Grumman Corporation by 1.6% in the second quarter. Pointe Capital Management LLC now owns 1,101 shares of the aerospace company’s stock valued at $283,000 after buying an additional 17 shares in the last quarter. Hedge funds and other institutional investors own 81.80% of the company’s stock.

Northrop Grumman Corporation (NYSE:NOC) opened at 269.99 on Thursday. Northrop Grumman Corporation has a 52 week low of $206.69 and a 52 week high of $274.61. The stock’s 50 day moving average price is $264.70 and its 200-day moving average price is $250.40. The stock has a market capitalization of $47.00 billion, a P/E ratio of 20.62 and a beta of 0.66.

Northrop Grumman Corporation (NYSE:NOC) last issued its quarterly earnings data 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. 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 period in the previous year, the firm posted $2.85 earnings per share. The business’s revenue was up 6.3% on a year-over-year basis. Equities research analysts expect that Northrop Grumman Corporation will post $12.55 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 13th. Investors of record on Monday, August 28th will be issued a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a yield of 1.48%. Northrop Grumman Corporation’s payout ratio is 30.56%.

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Several brokerages have weighed in on NOC. Argus upped their price objective on Northrop Grumman Corporation from $270.00 to $295.00 and gave the stock a “buy” rating in a research report on Friday, August 4th. Morgan Stanley assumed coverage on Northrop Grumman Corporation in a research report on Tuesday, August 8th. They set an “equal weight” rating and a $279.00 price objective for the company. BidaskClub cut Northrop Grumman Corporation from a “buy” rating to a “hold” rating in a research report on Monday, July 31st. Vertical Research raised Northrop Grumman Corporation from a “hold” rating to a “buy” rating and upped their price objective for the stock from $254.00 to $270.00 in a research report on Wednesday, May 10th. Finally, Cowen and Company reaffirmed a “hold” rating and set a $275.00 price objective on shares of Northrop Grumman Corporation in a research report on Monday, July 17th. Seven research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Northrop Grumman Corporation currently has a consensus rating of “Buy” and a consensus 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 on 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 sale, the vice president now directly owns 69,458 shares of the company’s stock, valued at approximately $18,059,080. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP Lisa R. Davis sold 367 shares of the business’s stock in a transaction on Tuesday, August 1st. The shares were sold at an average price of $263.25, for a total transaction of $96,612.75. Following the sale, the vice president now directly owns 961 shares in the company, valued at $252,983.25. The disclosure for this sale can be found here. 0.70% of the stock is currently owned by corporate insiders.

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.

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

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