Alpine Woods Capital Investors LLC Buys 753 Shares of Northrop Grumman Co. (NYSE:NOC)

Alpine Woods Capital Investors LLC grew its position in shares of Northrop Grumman Co. (NYSE:NOC - Free Report) by 12.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 6,786 shares of the aerospace company's stock after buying an additional 753 shares during the period. Alpine Woods Capital Investors LLC's holdings in Northrop Grumman were worth $3,185,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the company. Wellington Management Group LLP raised its stake in shares of Northrop Grumman by 0.4% during the 3rd quarter. Wellington Management Group LLP now owns 4,140,892 shares of the aerospace company's stock valued at $2,186,681,000 after purchasing an additional 17,596 shares during the period. Geode Capital Management LLC increased its stake in Northrop Grumman by 0.6% in the 3rd quarter. Geode Capital Management LLC now owns 3,003,360 shares of the aerospace company's stock worth $1,581,644,000 after acquiring an additional 18,791 shares during the last quarter. Franklin Resources Inc. increased its stake in Northrop Grumman by 6.2% in the 3rd quarter. Franklin Resources Inc. now owns 2,426,270 shares of the aerospace company's stock worth $1,315,729,000 after acquiring an additional 141,816 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in Northrop Grumman by 2.8% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 832,463 shares of the aerospace company's stock worth $390,667,000 after acquiring an additional 23,018 shares during the last quarter. Finally, Two Sigma Advisers LP increased its stake in Northrop Grumman by 102.6% in the 3rd quarter. Two Sigma Advisers LP now owns 735,600 shares of the aerospace company's stock worth $388,448,000 after acquiring an additional 372,500 shares during the last quarter. Hedge funds and other institutional investors own 83.40% of the company's stock.

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Insider Transactions at Northrop Grumman

In other news, CEO Kathy J. Warden sold 3,750 shares of the stock in a transaction that occurred on Thursday, March 6th. The stock was sold at an average price of $475.65, for a total value of $1,783,687.50. Following the completion of the transaction, the chief executive officer now owns 212,852 shares of the company's stock, valued at approximately $101,243,053.80. This represents a 1.73 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Benjamin R. Davies sold 192 shares of the 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 completion of the transaction, the vice president now directly owns 709 shares of the company's stock, valued at $304,217.72. This 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 valued at $2,126,405. Corporate insiders own 0.22% of the company's stock.

Northrop Grumman Trading Down 0.2 %

NYSE NOC traded down $0.87 on Tuesday, hitting $489.64. The company's stock had a trading volume of 620,021 shares, compared to its average volume of 823,223. Northrop Grumman Co. has a 52-week low of $418.60 and a 52-week high of $555.57. The company has a current ratio of 1.01, a quick ratio of 0.91 and a debt-to-equity ratio of 0.96. The company's 50-day simple moving average is $472.66 and its 200 day simple moving average is $494.03. The firm has a market cap of $70.88 billion, a P/E ratio of 17.28, a PEG ratio of 3.73 and a beta of 0.31.

Northrop Grumman (NYSE:NOC - Get Free Report) last released its quarterly earnings data on Thursday, January 30th. The aerospace company reported $6.39 earnings per share for the quarter, topping the consensus estimate 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 EPS for the current fiscal year.

Northrop Grumman declared that its board has authorized a share buyback plan 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 shares through open market purchases. Shares buyback plans are generally an indication that the company's leadership believes its shares are undervalued.

Northrop Grumman Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 19th. Stockholders of record on Monday, March 3rd will be given a $2.06 dividend. This represents a $8.24 annualized dividend and a dividend yield of 1.68%. The ex-dividend date of this dividend is Monday, March 3rd. Northrop Grumman's dividend payout ratio is currently 29.08%.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on NOC. Susquehanna decreased their target price on Northrop Grumman from $625.00 to $557.00 and set a "positive" rating on the stock in a research note on Wednesday, January 8th. Barclays decreased their target price 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. Truist Financial assumed coverage on Northrop Grumman in a research note on Tuesday, January 14th. They issued a "buy" rating and a $544.00 target price on the stock. Wells Fargo & Company increased their price objective on Northrop Grumman from $545.00 to $547.00 and gave the company an "overweight" rating in a research report on Friday, March 7th. Finally, StockNews.com lowered Northrop Grumman from a "strong-buy" rating to a "buy" rating in a research report on Monday, February 3rd. Nine research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Northrop Grumman presently has a consensus rating of "Moderate Buy" and a consensus price target of $542.88.

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.