State of Michigan Retirement System Has $12.19 Million Position in Northrop Grumman Co. (NYSE:NOC)

State of Michigan Retirement System boosted its holdings in Northrop Grumman Co. (NYSE:NOC) by 10.3% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 39,633 shares of the aerospace company’s stock after buying an additional 3,716 shares during the period. State of Michigan Retirement System’s holdings in Northrop Grumman were worth $12,185,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Advisor Group Holdings Inc. acquired a new position in Northrop Grumman in the first quarter valued at approximately $21,230,000. Clarius Group LLC raised its holdings in Northrop Grumman by 6.7% in the second quarter. Clarius Group LLC now owns 1,320 shares of the aerospace company’s stock worth $406,000 after purchasing an additional 83 shares during the period. San Francisco Sentry Investment Group CA raised its holdings in Northrop Grumman by 50.7% in the first quarter. San Francisco Sentry Investment Group CA now owns 333 shares of the aerospace company’s stock worth $100,000 after purchasing an additional 112 shares during the period. Ballast Advisors LLC acquired a new stake in Northrop Grumman in the first quarter worth $30,000. Finally, Legal & General Group Plc raised its holdings in Northrop Grumman by 3.0% in the first quarter. Legal & General Group Plc now owns 859,320 shares of the aerospace company’s stock worth $260,058,000 after purchasing an additional 25,139 shares during the period. Institutional investors and hedge funds own 83.97% of the company’s stock.

Several research firms have weighed in on NOC. ValuEngine upgraded shares of Northrop Grumman from a “sell” rating to a “hold” rating in a report on Tuesday. Jefferies Financial Group reiterated a “buy” rating and issued a $375.00 target price on shares of Northrop Grumman in a report on Thursday, June 25th. Morgan Stanley increased 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. Zacks Investment Research raised shares of Northrop Grumman from a “sell” rating to a “hold” rating and set a $320.00 price objective for the company in a research report on Thursday, June 25th. Finally, TheStreet downgraded shares of Northrop Grumman from a “b-” rating to a “c” rating in a research report on Monday, July 13th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and six have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $385.00.

Northrop Grumman stock traded down $1.00 during mid-day trading on Friday, reaching $325.01. The company’s stock had a trading volume of 1,161,532 shares, compared to its average volume of 1,004,148. The company has a market capitalization of $54.18 billion, a price-to-earnings ratio of 22.86 and a beta of 0.79. Northrop Grumman Co. has a 12 month low of $263.31 and a 12 month high of $385.01. The business’s 50 day simple moving average is $308.15 and its 200 day simple moving average is $332.27. The company has a debt-to-equity ratio of 1.61, a quick ratio of 1.21 and a current ratio of 1.35.

Northrop Grumman (NYSE:NOC) last released its earnings results on Thursday, July 30th. The aerospace company reported $6.01 earnings per share for the quarter, beating analysts’ consensus estimates of $5.32 by $0.69. The business had revenue of $8.88 billion during the quarter, compared to the consensus estimate of $8.66 billion. Northrop Grumman had a net margin of 6.91% and a return on equity of 40.24%. The firm’s revenue for the quarter was up 5.1% compared to the same quarter last year. During the same quarter last year, the firm earned $5.06 earnings per share. As a group, sell-side analysts expect that Northrop Grumman Co. will post 22.15 EPS for the current year.

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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