Asset Dedication LLC Sells 347 Shares of Northrop Grumman Co. (NYSE:NOC)

Asset Dedication LLC cut its stake in Northrop Grumman Co. (NYSE:NOC) by 17.1% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 1,678 shares of the aerospace company’s stock after selling 347 shares during the quarter. Asset Dedication LLC’s holdings in Northrop Grumman were worth $787,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Two Sigma Advisers LP increased its stake in shares of Northrop Grumman by 102.6% in the 3rd quarter. Two Sigma Advisers LP now owns 735,600 shares of the aerospace company’s stock worth $388,448,000 after acquiring an additional 372,500 shares in the last quarter. Franklin Resources Inc. grew its holdings in Northrop Grumman by 6.2% in the third quarter. Franklin Resources Inc. now owns 2,426,270 shares of the aerospace company’s stock worth $1,315,729,000 after purchasing an additional 141,816 shares during the period. Wedge Capital Management L L P NC bought a new position in shares of Northrop Grumman during the fourth quarter valued at approximately $66,171,000. International Assets Investment Management LLC purchased a new position in shares of Northrop Grumman during the fourth quarter valued at approximately $622,000. Finally, National Bank of Canada FI boosted its position in shares of Northrop Grumman by 154.7% in the 3rd quarter. National Bank of Canada FI now owns 157,601 shares of the aerospace company’s stock worth $83,224,000 after purchasing an additional 95,724 shares in the last quarter. 83.40% of the stock is owned by institutional investors.

Insider Activity at Northrop Grumman

In related news, VP Benjamin R. Davies sold 1,156 shares of Northrop Grumman stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $532.93, for a total transaction of $616,067.08. Following the completion of the sale, the vice president now owns 537 shares of the company’s stock, valued at $286,183.41. The trade was a 68.28 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders sold 1,255 shares of company stock valued at $663,859 over the last 90 days. Insiders own 0.22% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have commented on NOC shares. JPMorgan Chase & Co. boosted their target price on Northrop Grumman from $500.00 to $560.00 and gave the stock a “neutral” rating in a report on Monday, October 14th. UBS Group upped their price target on shares of Northrop Grumman from $614.00 to $643.00 and gave the stock a “buy” rating in a research note on Friday, October 25th. StockNews.com upgraded shares of Northrop Grumman from a “buy” rating to a “strong-buy” rating in a research note on Sunday, January 19th. Truist Financial began coverage on shares of Northrop Grumman in a research report on Tuesday, January 14th. They set a “buy” rating and a $544.00 price target for the company. Finally, TD Cowen upgraded Northrop Grumman to a “hold” rating in a research note on Tuesday, October 8th. Eight investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $550.94.

Northrop Grumman Price Performance

Shares of NYSE:NOC opened at $481.56 on Thursday. The company has a quick ratio of 0.97, a current ratio of 1.09 and a debt-to-equity ratio of 1.00. The firm’s 50 day moving average price is $478.87 and its 200-day moving average price is $497.74. The stock has a market capitalization of $70.16 billion, a PE ratio of 29.84, a price-to-earnings-growth ratio of 0.95 and a beta of 0.35. Northrop Grumman Co. has a twelve month low of $418.60 and a twelve month high of $555.57.

Northrop Grumman announced that its Board of Directors has approved a stock repurchase plan on Wednesday, December 11th that allows the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization allows the aerospace company to repurchase up to 4.3% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s management believes its shares are undervalued.

Northrop Grumman Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, December 18th. Shareholders of record on Monday, December 2nd were given a dividend of $2.06 per share. This represents a $8.24 annualized dividend and a dividend yield of 1.71%. The ex-dividend date of this dividend was Monday, December 2nd. Northrop Grumman’s payout ratio is 51.05%.

Northrop Grumman Company Profile

Northrop Grumman Corporation operates as an aerospace and defense technology company in the United States, Asia/Pacific, Europe, and internationally. The company’s Aeronautics Systems segment designs, develops, manufactures, integrates, and sustains aircraft systems. This segment also offers unmanned autonomous aircraft systems, including high-altitude long-endurance strategic ISR systems and vertical take-off and landing tactical ISR systems; and strategic long-range strike aircraft, tactical fighter and air dominance aircraft, and airborne battle management and command and control systems.