Northrop Grumman Co. (NYSE:NOC) Shares Acquired by Russell Investments Group Ltd.

Russell Investments Group Ltd. lifted its stake in Northrop Grumman Co. (NYSE:NOC) by 4.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 233,882 shares of the aerospace company’s stock after purchasing an additional 9,558 shares during the quarter. Russell Investments Group Ltd. owned about 0.16% of Northrop Grumman worth $109,758,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Raymond James Financial Inc. purchased a new stake in shares of Northrop Grumman in the fourth quarter valued at about $171,580,000. Prudential Financial Inc. boosted its holdings in Northrop Grumman by 225.8% in the 4th quarter. Prudential Financial Inc. now owns 327,998 shares of the aerospace company’s stock valued at $153,926,000 after purchasing an additional 227,314 shares during the last quarter. Proficio Capital Partners LLC purchased a new stake in shares of Northrop Grumman in the 4th quarter valued at approximately $94,370,000. Clearbridge Investments LLC increased its holdings in shares of Northrop Grumman by 21.5% during the 4th quarter. Clearbridge Investments LLC now owns 967,335 shares of the aerospace company’s stock worth $453,961,000 after buying an additional 170,976 shares during the last quarter. Finally, Franklin Resources Inc. raised 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 buying an additional 141,816 shares during the period. Hedge funds and other institutional investors own 83.40% of the company’s stock.

Insider Activity at Northrop Grumman

In other news, CEO Kathy J. Warden sold 3,750 shares of the stock in a transaction dated 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 transaction, the chief executive officer now owns 212,852 shares in the company, valued at approximately $101,243,053.80. This represents a 1.73 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Benjamin R. Davies sold 192 shares of the firm’s 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 sale, the vice president now directly owns 709 shares in the company, valued at $304,217.72. This trade represents a 21.31 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 4,505 shares of company stock valued at $2,126,405 over the last quarter. 0.22% of the stock is owned by insiders.

Analysts Set New Price Targets

Several equities research analysts have issued reports on NOC shares. Barclays cut their target price on Northrop Grumman from $550.00 to $500.00 and set an “equal weight” rating for the company in a research note on Monday, January 6th. StockNews.com cut shares of Northrop Grumman from a “strong-buy” rating to a “buy” rating in a research report on Monday, February 3rd. Citigroup lifted their price target on shares of Northrop Grumman from $587.00 to $591.00 and gave the company a “buy” rating in a research report on Monday, February 10th. Truist Financial started coverage on shares of Northrop Grumman in a report on Tuesday, January 14th. They issued a “buy” rating and a $544.00 price objective on the stock. Finally, UBS Group dropped their target price on shares of Northrop Grumman from $579.00 to $558.00 and set a “buy” rating for the company in a report on Friday, January 31st. Eight research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $545.06.

Northrop Grumman Price Performance

NOC stock opened at $486.23 on Friday. The business’s 50-day moving average is $479.27 and its two-hundred day moving average is $492.44. The company has a debt-to-equity ratio of 0.96, a current ratio of 1.01 and a quick ratio of 0.91. The firm has a market capitalization of $70.38 billion, a P/E ratio of 17.16, a P/E/G ratio of 3.73 and a beta of 0.31. Northrop Grumman Co. has a 1 year low of $418.60 and a 1 year high of $555.57.

Northrop Grumman (NYSE:NOC) last issued its 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%. Analysts anticipate that Northrop Grumman Co. will post 28.05 earnings per share for the current fiscal year.

Northrop Grumman announced that its Board of Directors has approved a stock buyback program on Wednesday, December 11th that authorizes the company to buyback $3.00 billion in outstanding shares. This buyback authorization authorizes the aerospace company to purchase up to 4.3% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.

Northrop Grumman Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 19th. Investors 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 1.69%. Northrop Grumman’s payout ratio is currently 29.08%.

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.