Los Angeles Capital Management LLC Buys 5,162 Shares of Northrop Grumman Co. (NYSE:NOC)

Los Angeles Capital Management LLC increased its stake in shares of Northrop Grumman Co. (NYSE:NOC) by 9.5% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 59,376 shares of the aerospace company’s stock after purchasing an additional 5,162 shares during the quarter. Los Angeles Capital Management LLC’s holdings in Northrop Grumman were worth $27,865,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of the stock. Wellington Management Group LLP increased its position in shares of Northrop Grumman by 0.4% during the 3rd quarter. Wellington Management Group LLP now owns 4,140,892 shares of the aerospace company’s stock valued at $2,186,681,000 after purchasing an additional 17,596 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Northrop Grumman by 0.6% during the 3rd quarter. Geode Capital Management LLC now owns 3,003,360 shares of the aerospace company’s stock valued at $1,581,644,000 after purchasing an additional 18,791 shares during the last quarter. Franklin Resources Inc. increased its position in shares of Northrop Grumman by 6.2% during the 3rd quarter. Franklin Resources Inc. now owns 2,426,270 shares of the aerospace company’s stock valued at $1,315,729,000 after purchasing an additional 141,816 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Northrop Grumman by 0.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 809,445 shares of the aerospace company’s stock valued at $427,444,000 after purchasing an additional 3,211 shares during the last quarter. Finally, Two Sigma Advisers LP increased its position in shares of Northrop Grumman by 102.6% during the 3rd quarter. Two Sigma Advisers LP now owns 735,600 shares of the aerospace company’s stock valued at $388,448,000 after purchasing an additional 372,500 shares during the last quarter. Institutional investors own 83.40% of the company’s stock.

Northrop Grumman Price Performance

NOC opened at $461.03 on Wednesday. Northrop Grumman Co. has a 12-month low of $418.60 and a 12-month high of $555.57. The company has a current ratio of 1.01, a quick ratio of 0.91 and a debt-to-equity ratio of 0.96. The business’s fifty day simple moving average is $469.99 and its 200-day simple moving average is $497.05. The company has a market capitalization of $66.74 billion, a price-to-earnings ratio of 16.27, a PEG ratio of 3.73 and a beta of 0.35.

Northrop Grumman (NYSE:NOC) last issued its quarterly earnings data on Thursday, January 30th. The aerospace company reported $6.39 earnings per share for the quarter, topping analysts’ consensus estimates of $6.27 by $0.12. Northrop Grumman had a return on equity of 26.24% and a net margin of 10.17%. On average, equities research analysts anticipate that Northrop Grumman Co. will post 28.05 earnings per share for the current fiscal year.

Northrop Grumman announced that its board has approved a share repurchase plan on Wednesday, December 11th that allows the company to repurchase $3.00 billion in shares. This repurchase authorization allows the aerospace company to purchase up to 4.3% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board believes its stock is undervalued.

Northrop Grumman Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 19th. Investors of record on Monday, March 3rd will be paid a dividend of $2.06 per share. This represents a $8.24 dividend on an annualized basis and a dividend yield of 1.79%. The ex-dividend date of this dividend is Monday, March 3rd. Northrop Grumman’s dividend payout ratio (DPR) is currently 29.08%.

Insider Buying and Selling

In related news, VP Benjamin R. Davies sold 192 shares of the company’s stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $429.08, for a total transaction of $82,383.36. Following the completion of the sale, the vice president now directly owns 709 shares in the company, valued at $304,217.72. This represents a 21.31 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Insiders sold 291 shares of company stock worth $129,184 in the last three months. 0.22% of the stock is owned by insiders.

Analyst Ratings Changes

Several research firms have recently weighed in on NOC. Susquehanna cut their target price on Northrop Grumman from $625.00 to $557.00 and set a “positive” rating on the stock in a research report on Wednesday, January 8th. Wells Fargo & Company cut their price objective on Northrop Grumman from $595.00 to $574.00 and set an “overweight” rating on the stock in a research report on Friday, January 31st. StockNews.com downgraded Northrop Grumman from a “strong-buy” rating to a “buy” rating in a research report on Monday, February 3rd. Citigroup upped their price objective on Northrop Grumman from $587.00 to $591.00 and gave the company a “buy” rating in a research report on Monday, February 10th. Finally, Truist Financial assumed coverage on Northrop Grumman in a research report on Tuesday, January 14th. They issued a “buy” rating and a $544.00 price objective on the stock. Nine equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $544.56.

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.