Northrop Grumman Co. (NYSE:NOC) Stake Cut by Roberts Glore & Co. Inc. IL

Roberts Glore & Co. Inc. IL reduced its holdings in Northrop Grumman Co. (NYSE:NOC) by 7.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 710 shares of the aerospace company’s stock after selling 60 shares during the period. Roberts Glore & Co. Inc. IL’s holdings in Northrop Grumman were worth $333,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of NOC. Meeder Advisory Services Inc. increased its position in Northrop Grumman by 0.9% in the 3rd quarter. Meeder Advisory Services Inc. now owns 2,288 shares of the aerospace company’s stock worth $1,208,000 after purchasing an additional 20 shares during the last quarter. Thompson Siegel & Walmsley LLC increased its position in Northrop Grumman by 0.3% in the 3rd quarter. Thompson Siegel & Walmsley LLC now owns 8,320 shares of the aerospace company’s stock worth $4,394,000 after purchasing an additional 21 shares during the last quarter. Sapient Capital LLC increased its position in Northrop Grumman by 1.1% in the 4th quarter. Sapient Capital LLC now owns 2,049 shares of the aerospace company’s stock worth $962,000 after purchasing an additional 22 shares during the last quarter. Bank Pictet & Cie Europe AG increased its position in Northrop Grumman by 2.2% in the 4th quarter. Bank Pictet & Cie Europe AG now owns 1,006 shares of the aerospace company’s stock worth $472,000 after purchasing an additional 22 shares during the last quarter. Finally, Mather Group LLC. increased its position in Northrop Grumman by 2.6% in the 4th quarter. Mather Group LLC. now owns 900 shares of the aerospace company’s stock worth $422,000 after purchasing an additional 23 shares during the last quarter. 83.40% of the stock is owned by hedge funds and other institutional investors.

Northrop Grumman Price Performance

Shares of NYSE:NOC opened at $487.22 on Friday. The business has a 50 day moving average price of $469.88 and a 200 day moving average price of $495.11. Northrop Grumman Co. has a twelve month low of $418.60 and a twelve month high of $555.57. The company has a market cap of $70.53 billion, a price-to-earnings ratio of 17.19, a PEG ratio of 3.73 and a beta of 0.31. The company has a quick ratio of 0.91, a current ratio of 1.01 and a debt-to-equity ratio of 0.96.

Northrop Grumman (NYSE:NOC) last announced its quarterly earnings data on Thursday, January 30th. The aerospace company reported $6.39 EPS 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%. Research analysts predict that Northrop Grumman Co. will post 28.05 earnings per share for the current year.

Northrop Grumman Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 19th. Shareholders of record on Monday, March 3rd will be given a $2.06 dividend. The ex-dividend date is Monday, March 3rd. This represents a $8.24 dividend on an annualized basis and a dividend yield of 1.69%. Northrop Grumman’s dividend payout ratio is currently 29.08%.

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

Analysts Set New Price Targets

NOC has been the topic of several research reports. StockNews.com lowered Northrop Grumman from a “strong-buy” rating to a “buy” rating in a research report on Monday, February 3rd. Wells Fargo & Company upped their target price on Northrop Grumman from $545.00 to $547.00 and gave the stock an “overweight” rating in a research report on Friday. Argus raised Northrop Grumman to a “strong-buy” rating in a report on Wednesday, February 26th. Barclays lowered their price objective on Northrop Grumman from $550.00 to $500.00 and set an “equal weight” rating on the stock in a report on Monday, January 6th. Finally, Truist Financial initiated coverage on Northrop Grumman in a report on Tuesday, January 14th. They set a “buy” rating and a $544.00 price objective on the stock. Nine research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Northrop Grumman currently has a consensus rating of “Moderate Buy” and a consensus price target of $542.88.

Insiders Place Their Bets

In related news, CEO Kathy J. Warden sold 3,750 shares of the firm’s stock in a transaction that occurred on Thursday, March 6th. The stock was sold at an average price of $475.65, for a total transaction 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Benjamin R. Davies sold 192 shares of the firm’s stock in a transaction that occurred on 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 owns 709 shares of the company’s stock, valued at $304,217.72. This trade represents a 21.31 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 4,505 shares of company stock worth $2,126,405. 0.22% of the stock is currently owned by company insiders.

About Northrop Grumman

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.