Northrop Grumman Co. (NYSE:NOC) Stock Position Raised by California Public Employees Retirement System

California Public Employees Retirement System grew its position in shares of Northrop Grumman Co. (NYSE:NOC) by 0.6% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 614,254 shares of the aerospace company’s stock after buying an additional 3,919 shares during the quarter. California Public Employees Retirement System owned approximately 0.42% of Northrop Grumman worth $288,263,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also made changes to their positions in the company. Townsquare Capital LLC increased its stake in shares of Northrop Grumman by 75.6% during the 3rd quarter. Townsquare Capital LLC now owns 5,390 shares of the aerospace company’s stock worth $2,847,000 after purchasing an additional 2,320 shares during the last quarter. Glenmede Trust Co. NA boosted its holdings in Northrop Grumman by 7.8% during the third quarter. Glenmede Trust Co. NA now owns 17,386 shares of the aerospace company’s stock valued at $9,181,000 after acquiring an additional 1,253 shares during the period. Healthcare of Ontario Pension Plan Trust Fund bought a new stake in Northrop Grumman during the 3rd quarter valued at approximately $1,056,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of Northrop Grumman by 15.3% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 572,451 shares of the aerospace company’s stock valued at $302,294,000 after acquiring an additional 75,921 shares during the period. Finally, Public Sector Pension Investment Board grew its position in Northrop Grumman by 7.7% in the 3rd quarter. Public Sector Pension Investment Board now owns 5,567 shares of the aerospace company’s stock worth $2,940,000 after purchasing an additional 400 shares during the last quarter. Institutional investors own 83.40% of the company’s stock.

Northrop Grumman Trading Down 0.4 %

NYSE:NOC opened at $511.86 on Friday. The firm has a market cap of $74.09 billion, a P/E ratio of 18.06, a P/E/G ratio of 3.73 and a beta of 0.31. 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 Co. has a 52 week low of $418.60 and a 52 week high of $555.57. The firm’s fifty day moving average is $478.20 and its 200-day moving average is $492.84.

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

Northrop Grumman Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 19th. Shareholders of record on Monday, March 3rd were paid a dividend of $2.06 per share. This represents a $8.24 annualized dividend and a yield of 1.61%. The ex-dividend date was Monday, March 3rd. Northrop Grumman’s dividend payout ratio (DPR) is presently 29.08%.

Northrop Grumman announced that its board has authorized a share 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 repurchase up to 4.3% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s board of directors believes its shares are undervalued.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on NOC shares. Citigroup boosted their price target on shares of Northrop Grumman from $587.00 to $591.00 and gave the company a “buy” rating in a report on Monday, February 10th. Wolfe Research raised Northrop Grumman from an “underperform” rating to a “peer perform” rating in a report on Monday, February 3rd. Argus raised Northrop Grumman to a “strong-buy” rating in a research note on Wednesday, February 26th. UBS Group cut their target price on shares of Northrop Grumman from $579.00 to $558.00 and set a “buy” rating on the stock in a report on Friday, January 31st. Finally, StockNews.com lowered Northrop Grumman from a “strong-buy” rating to a “buy” rating in a report on Monday, February 3rd. Eight equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Northrop Grumman currently has a consensus rating of “Moderate Buy” and a consensus price target of $545.06.

Insiders Place Their Bets

In other Northrop Grumman news, VP Benjamin R. Davies sold 192 shares of the company’s stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $429.08, for a total value of $82,383.36. Following the completion of the transaction, the vice president now directly owns 709 shares in the company, valued at approximately $304,217.72. This represents a 21.31 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Kathy J. Warden sold 3,750 shares of Northrop Grumman stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $475.65, for a total transaction of $1,783,687.50. Following the sale, the chief executive officer now directly owns 212,852 shares in the company, valued at $101,243,053.80. The trade was a 1.73 % 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 valued at $2,126,405 in the last 90 days. 0.22% of the stock is currently owned by corporate insiders.

Northrop Grumman Company 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.