4,132 Shares in Northrop Grumman Co. (NYSE:NOC) Purchased by Allstate Corp

Allstate Corp acquired a new stake in Northrop Grumman Co. (NYSE:NOC - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 4,132 shares of the aerospace company's stock, valued at approximately $1,939,000.

Other hedge funds also recently modified their holdings of the company. Sapient Capital LLC lifted its position in Northrop Grumman by 1.1% during the fourth quarter. Sapient Capital LLC now owns 2,049 shares of the aerospace company's stock worth $962,000 after acquiring an additional 22 shares during the last quarter. Bank Pictet & Cie Europe AG lifted its holdings in Northrop Grumman by 2.2% during 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. Mather Group LLC. lifted its holdings in Northrop Grumman by 2.6% during 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. Jacobi Capital Management LLC grew its holdings in Northrop Grumman by 1.2% in the 4th quarter. Jacobi Capital Management LLC now owns 1,987 shares of the aerospace company's stock valued at $933,000 after buying an additional 23 shares in the last quarter. Finally, Baron Silver Stevens Financial Advisors LLC increased its position in Northrop Grumman by 5.9% during the 4th quarter. Baron Silver Stevens Financial Advisors LLC now owns 432 shares of the aerospace company's stock worth $203,000 after buying an additional 24 shares during the period. Institutional investors and hedge funds own 83.40% of the company's stock.

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Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on NOC shares. Wolfe Research raised shares of Northrop Grumman from an "underperform" rating to a "peer perform" rating in a research report on Monday, February 3rd. Wells Fargo & Company increased their target price on shares of Northrop Grumman from $545.00 to $547.00 and gave the stock an "overweight" rating in a research report on Friday, March 7th. Argus upgraded shares of Northrop Grumman to a "strong-buy" rating in a research 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 research note on Monday, January 6th. Finally, Susquehanna cut their target price on Northrop Grumman from $625.00 to $557.00 and set a "positive" rating for the company in a research report on Wednesday, January 8th. Eight research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $545.06.

Insider Buying and Selling at Northrop Grumman

In related news, VP Benjamin R. Davies sold 464 shares of the stock in a transaction on Friday, February 28th. The shares were sold at an average price of $460.75, for a total transaction of $213,788.00. Following the transaction, the vice president now directly owns 245 shares of the company's stock, valued at $112,883.75. This represents a 65.44 % decrease in their ownership of the stock. The sale was disclosed in a legal filing 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 on 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 completion of the sale, the chief executive officer now directly owns 212,852 shares of the company's stock, valued at approximately $101,243,053.80. This trade represents a 1.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 4,505 shares of company stock valued at $2,126,405. 0.22% of the stock is currently owned by company insiders.

Northrop Grumman Trading Up 1.0 %

Shares of NYSE:NOC traded up $4.88 during midday trading on Thursday, hitting $517.06. 182,934 shares of the stock were exchanged, compared to its average volume of 863,966. The business's 50-day moving average price is $479.17 and its 200 day moving average price is $492.73. Northrop Grumman Co. has a 12 month low of $418.60 and a 12 month high of $555.57. 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 stock has a market capitalization of $74.85 billion, a price-to-earnings ratio of 18.24, a P/E/G ratio of 3.73 and a beta of 0.31.

Northrop Grumman (NYSE:NOC - Get Free Report) last posted its earnings results on Thursday, January 30th. The aerospace company reported $6.39 earnings per share 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%. Analysts predict that Northrop Grumman Co. will post 28.05 earnings per share for the current year.

Northrop Grumman Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 19th. Investors of record on Monday, March 3rd were issued a $2.06 dividend. This represents a $8.24 annualized dividend and a yield of 1.59%. The ex-dividend date of this dividend was Monday, March 3rd. Northrop Grumman's payout ratio is presently 29.08%.

Northrop Grumman announced that its board has approved a stock repurchase program on Wednesday, December 11th that allows the company to buyback $3.00 billion in shares. This buyback authorization allows the aerospace company to repurchase up to 4.3% of its shares through open market purchases. Shares buyback programs are typically an indication that the company's board of directors believes its stock is undervalued.

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.