LPL Financial LLC Increases Holdings in Northrop Grumman Co. (NYSE:NOC)

LPL Financial LLC grew its holdings in shares of Northrop Grumman Co. (NYSE:NOC) by 7.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 261,837 shares of the aerospace company’s stock after buying an additional 18,854 shares during the quarter. LPL Financial LLC owned 0.18% of Northrop Grumman worth $122,877,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Wellington Management Group LLP lifted its position in Northrop Grumman by 0.4% in the third quarter. Wellington Management Group LLP now owns 4,140,892 shares of the aerospace company’s stock worth $2,186,681,000 after buying an additional 17,596 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of Northrop Grumman by 0.6% in the third quarter. Geode Capital Management LLC now owns 3,003,360 shares of the aerospace company’s stock valued at $1,581,644,000 after acquiring an additional 18,791 shares during the period. Franklin Resources Inc. lifted its holdings in shares of Northrop Grumman by 6.2% in the 3rd quarter. Franklin Resources Inc. now owns 2,426,270 shares of the aerospace company’s stock worth $1,315,729,000 after acquiring an additional 141,816 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of Northrop Grumman by 2.8% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 832,463 shares of the aerospace company’s stock worth $390,667,000 after acquiring an additional 23,018 shares during the last quarter. Finally, Two Sigma Advisers LP boosted its stake 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 worth $388,448,000 after purchasing an additional 372,500 shares during the period. Hedge funds and other institutional investors own 83.40% of the company’s stock.

Insider Activity

In related news, CEO Kathy J. Warden sold 3,750 shares of the firm’s stock in a transaction on Thursday, March 6th. The stock was sold at an average price of $475.65, for a total value of $1,783,687.50. Following the completion of the transaction, the chief executive officer now owns 212,852 shares in the company, valued at $101,243,053.80. This trade represents a 1.73 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Benjamin R. Davies sold 464 shares of the business’s stock in a transaction dated Friday, February 28th. The shares were sold at an average price of $460.75, for a total value of $213,788.00. Following the sale, the vice president now owns 245 shares in the company, valued at approximately $112,883.75. The trade was a 65.44 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 4,505 shares of company stock worth $2,126,405 over the last 90 days. 0.22% of the stock is currently owned by corporate insiders.

Northrop Grumman Trading Up 0.9 %

NYSE NOC opened at $495.25 on Tuesday. The firm has a market cap of $71.69 billion, a PE ratio of 17.48, a price-to-earnings-growth ratio of 3.73 and a beta of 0.31. Northrop Grumman Co. has a 52 week low of $418.60 and a 52 week high of $555.57. The company has a quick ratio of 0.91, a current ratio of 1.01 and a debt-to-equity ratio of 0.96. The company has a 50 day moving average price of $475.62 and a 200 day moving average price of $492.94.

Northrop Grumman (NYSE:NOC) last issued its quarterly earnings data on Thursday, January 30th. The aerospace company reported $6.39 EPS for the quarter, beating the consensus estimate of $6.27 by $0.12. Northrop Grumman had a return on equity of 26.24% and a net margin of 10.17%. As a group, sell-side analysts forecast that Northrop Grumman Co. will post 28.05 EPS for the current fiscal year.

Northrop Grumman declared that its Board of Directors has authorized a stock buyback program on Wednesday, December 11th that allows the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization allows the aerospace company to buy up to 4.3% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s management believes its shares are undervalued.

Northrop Grumman Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 19th. Stockholders of record on Monday, March 3rd were paid a dividend of $2.06 per share. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $8.24 dividend on an annualized basis and a dividend yield of 1.66%. Northrop Grumman’s payout ratio is 29.08%.

Analyst Ratings Changes

A number of research analysts have recently commented on NOC shares. StockNews.com cut Northrop Grumman from a “strong-buy” rating to a “buy” rating in a research note on Monday, February 3rd. Susquehanna reduced their target price on Northrop Grumman from $625.00 to $557.00 and set a “positive” rating on the stock in a research note on Wednesday, January 8th. Truist Financial started coverage on shares of Northrop Grumman in a research note on Tuesday, January 14th. They set a “buy” rating and a $544.00 target price for the company. UBS Group reduced their price target on shares of Northrop Grumman from $579.00 to $558.00 and set a “buy” rating on the stock in a research note on Friday, January 31st. Finally, Argus upgraded shares of Northrop Grumman to a “strong-buy” rating in a research note on Wednesday, February 26th. Nine analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Northrop Grumman has an average rating of “Moderate Buy” and a consensus price target of $542.88.

Northrop Grumman 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.