Northrop Grumman Co. (NYSE:NOC) Shares Bought by Stolper Co

Stolper Co boosted its holdings in Northrop Grumman Co. (NYSE:NOC) by 1.0% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 14,798 shares of the aerospace company’s stock after purchasing an additional 147 shares during the period. Northrop Grumman comprises 2.3% of Stolper Co’s portfolio, making the stock its 14th largest position. Stolper Co’s holdings in Northrop Grumman were worth $6,945,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of NOC. 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 valued at $388,448,000 after buying an additional 372,500 shares during the last quarter. Marshall Wace LLP acquired a new position in Northrop Grumman during the 2nd quarter worth $74,206,000. Canada Pension Plan Investment Board increased its position in shares of Northrop Grumman by 113.6% in the 2nd quarter. Canada Pension Plan Investment Board now owns 296,844 shares of the aerospace company’s stock worth $129,409,000 after purchasing an additional 157,854 shares during the last quarter. Legal & General Group Plc grew its stake in Northrop Grumman by 16.0% in the second quarter. Legal & General Group Plc now owns 1,087,913 shares of the aerospace company’s stock worth $474,276,000 after purchasing an additional 150,367 shares in the last quarter. Finally, Franklin Resources Inc. raised its stake in Northrop Grumman by 6.2% during the third 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 in the last quarter. 83.40% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, VP Benjamin R. Davies sold 1,156 shares of the company’s stock in a transaction on Monday, November 11th. The shares were sold at an average price of $532.93, for a total transaction of $616,067.08. Following the completion of the transaction, the vice president now directly owns 537 shares in the company, valued at $286,183.41. This represents a 68.28 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Over the last three months, insiders sold 1,255 shares of company stock valued at $663,859. 0.22% of the stock is owned by company insiders.

Northrop Grumman Trading Down 0.7 %

Shares of NYSE NOC opened at $472.19 on Thursday. The stock has a market cap of $68.80 billion, a price-to-earnings ratio of 29.26, a PEG ratio of 0.87 and a beta of 0.35. The business has a 50 day simple moving average of $483.30 and a 200 day simple moving average of $493.62. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.97 and a current ratio of 1.09. Northrop Grumman Co. has a 52 week low of $418.60 and a 52 week high of $555.57.

Northrop Grumman (NYSE:NOC) last posted its earnings results on Thursday, October 24th. The aerospace company reported $7.00 earnings per share for the quarter, beating the consensus estimate of $6.07 by $0.93. The company had revenue of $10 billion for the quarter, compared to analyst estimates of $10.18 billion. Northrop Grumman had a return on equity of 26.57% and a net margin of 5.79%. The business’s revenue was up 2.3% compared to the same quarter last year. During the same period last year, the company earned $6.18 earnings per share. On average, research analysts predict that Northrop Grumman Co. will post 25.93 earnings per share for the current fiscal year.

Northrop Grumman declared that its Board of Directors has initiated a stock repurchase plan on Wednesday, December 11th that permits the company to buyback $3.00 billion in outstanding shares. This buyback authorization permits the aerospace company to repurchase up to 4.3% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s leadership believes its stock is undervalued.

Northrop Grumman Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, December 18th. Stockholders of record on Monday, December 2nd were issued a dividend of $2.06 per share. The ex-dividend date of this dividend was Monday, December 2nd. This represents a $8.24 dividend on an annualized basis and a dividend yield of 1.75%. Northrop Grumman’s dividend payout ratio (DPR) is presently 51.05%.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. Royal Bank of Canada boosted their price target on Northrop Grumman from $500.00 to $540.00 and gave the company a “sector perform” rating in a report on Friday, October 25th. Susquehanna dropped their price target 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. Truist Financial began coverage on Northrop Grumman in a report on Tuesday. They issued a “buy” rating and a $544.00 price target on the stock. Citigroup increased their target price on Northrop Grumman from $521.00 to $587.00 and gave the stock a “neutral” rating in a research report on Thursday, October 10th. Finally, Wells Fargo & Company raised shares of Northrop Grumman from an “equal weight” rating to an “overweight” rating and set a $595.00 price target for the company in a report on Wednesday, January 8th. Nine equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $550.94.

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.