Meeder Asset Management Inc. Trims Stock Position in Northrop Grumman Co. (NYSE:NOC)

Meeder Asset Management Inc. cut its holdings in shares of Northrop Grumman Co. (NYSE:NOC) by 66.3% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,298 shares of the aerospace company’s stock after selling 2,555 shares during the period. Meeder Asset Management Inc.’s holdings in Northrop Grumman were worth $609,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in shares of Northrop Grumman by 0.5% in the fourth quarter. Vanguard Group Inc. now owns 12,677,781 shares of the aerospace company’s stock worth $5,949,556,000 after buying an additional 56,807 shares during the last quarter. Wellington Management Group LLP boosted its position in Northrop Grumman by 0.6% in the 4th quarter. Wellington Management Group LLP now owns 4,164,700 shares of the aerospace company’s stock worth $1,954,452,000 after purchasing an additional 23,808 shares in the last quarter. Geode Capital Management LLC grew its stake 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 worth $1,581,644,000 after purchasing an additional 18,791 shares during the period. Franklin Resources Inc. increased its holdings 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 in the last quarter. Finally, Clearbridge Investments LLC lifted its stake in shares of Northrop Grumman by 21.5% in the 4th quarter. Clearbridge Investments LLC now owns 967,335 shares of the aerospace company’s stock valued at $453,961,000 after purchasing an additional 170,976 shares during the period. 83.40% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms recently commented on NOC. Argus upgraded shares of Northrop Grumman to a “strong-buy” rating in a research report on Wednesday, February 26th. Wells Fargo & Company raised their target price on Northrop Grumman from $545.00 to $547.00 and gave the company an “overweight” rating in a research report on Friday, March 7th. Susquehanna reduced their price target on Northrop Grumman from $625.00 to $557.00 and set a “positive” rating for the company in a report on Wednesday, January 8th. StockNews.com lowered Northrop Grumman from a “strong-buy” rating to a “buy” rating in a report on Monday, February 3rd. Finally, Royal Bank of Canada raised Northrop Grumman from a “sector perform” rating to an “outperform” rating and upped their target price for the stock from $500.00 to $575.00 in a research note on Thursday, March 27th. Eight analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $545.06.

Insider Activity at Northrop Grumman

In related news, CEO Kathy J. Warden sold 3,750 shares of Northrop Grumman stock in a transaction that occurred on Thursday, March 6th. The shares were sold at an average price of $475.65, for a total value of $1,783,687.50. Following the completion of the sale, the chief executive officer now owns 212,852 shares in the company, valued at approximately $101,243,053.80. This trade represents a 1.73 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Benjamin R. Davies sold 192 shares of the stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $429.08, for a total value of $82,383.36. Following the transaction, the vice president now directly owns 709 shares in the company, valued at approximately $304,217.72. The trade was a 21.31 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 4,505 shares of company stock worth $2,126,405. Company insiders own 0.22% of the company’s stock.

Northrop Grumman Stock Performance

NYSE NOC opened at $512.42 on Tuesday. Northrop Grumman Co. has a fifty-two week low of $418.60 and a fifty-two week high of $555.57. The firm has a market capitalization of $74.18 billion, a P/E ratio of 18.08, a price-to-earnings-growth ratio of 3.73 and a beta of 0.31. The stock’s fifty day moving average is $478.79 and its two-hundred day moving average is $492.64. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.91 and a current ratio of 1.01.

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

Northrop Grumman Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 19th. Shareholders of record on Monday, March 3rd were given a $2.06 dividend. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $8.24 dividend on an annualized basis and a yield of 1.61%. Northrop Grumman’s dividend payout ratio is currently 29.08%.

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

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.