Aigen Investment Management LP Acquires 1,948 Shares of Northrop Grumman Co. (NYSE:NOC)

Aigen Investment Management LP lifted its holdings in Northrop Grumman Co. (NYSE:NOC - Free Report) by 62.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 5,063 shares of the aerospace company's stock after acquiring an additional 1,948 shares during the period. Aigen Investment Management LP's holdings in Northrop Grumman were worth $2,376,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the business. RPg Family Wealth Advisory LLC purchased a new stake in Northrop Grumman during the 3rd quarter valued at approximately $31,000. Whipplewood Advisors LLC purchased a new position in Northrop Grumman during the fourth quarter valued at $31,000. Albion Financial Group UT bought a new stake in Northrop Grumman in the 4th quarter valued at $33,000. FSA Wealth Management LLC purchased a new stake in Northrop Grumman in the 3rd quarter worth $36,000. Finally, Modus Advisors LLC bought a new position in shares of Northrop Grumman during the 4th quarter valued at about $38,000. Hedge funds and other institutional investors own 83.40% of the company's stock.

Northrop Grumman Trading Down 1.9 %

NYSE:NOC opened at $464.34 on Wednesday. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.91 and a current ratio of 1.01. The firm has a 50-day simple moving average of $469.43 and a 200-day simple moving average of $495.61. Northrop Grumman Co. has a one year low of $418.60 and a one year high of $555.57. The firm has a market cap of $67.22 billion, a P/E ratio of 16.38, a P/E/G ratio of 3.73 and a beta of 0.35.

Northrop Grumman (NYSE:NOC - Get Free Report) last announced its earnings results 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 net margin of 10.17% and a return on equity of 26.24%. Equities analysts anticipate that Northrop Grumman Co. will post 28.05 EPS for the current fiscal year.

Northrop Grumman declared that its board has initiated a share buyback program on Wednesday, December 11th that authorizes the company to repurchase $3.00 billion in shares. This repurchase authorization authorizes the aerospace company to buy up to 4.3% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company's management believes its stock is undervalued.

Northrop Grumman Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, March 19th. Stockholders of record on Monday, March 3rd will be given a dividend of $2.06 per share. This represents a $8.24 dividend on an annualized basis and a dividend yield of 1.77%. The ex-dividend date is Monday, March 3rd. Northrop Grumman's payout ratio is presently 29.08%.

Insider Transactions at Northrop Grumman

In other news, VP Benjamin R. Davies sold 464 shares of the business's stock in a transaction dated Friday, February 28th. The stock was sold at an average price of $460.75, for a total transaction of $213,788.00. Following the sale, the vice president now owns 245 shares in the company, valued at approximately $112,883.75. The trade was a 65.44 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders sold 755 shares of company stock valued at $342,972 in the last quarter. 0.22% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

NOC has been the subject of several research analyst reports. UBS Group cut their price target on Northrop Grumman from $579.00 to $558.00 and set a "buy" rating for the company in a report on Friday, January 31st. Citigroup upped their price target on shares of Northrop Grumman from $587.00 to $591.00 and gave the company a "buy" rating in a research note on Monday, February 10th. Barclays dropped their price objective on shares of 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. Wolfe Research raised Northrop Grumman from an "underperform" rating to a "peer perform" rating in a research note on Monday, February 3rd. Finally, Wells Fargo & Company lowered their price objective on Northrop Grumman from $574.00 to $545.00 and set an "overweight" rating for the company in a research note on Wednesday, February 26th. Nine research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $542.75.

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.

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