Northrop Grumman Co. (NYSE:NOC) Shares Bought by Asset Management One Co. Ltd.

Asset Management One Co. Ltd. increased its holdings in Northrop Grumman Co. (NYSE:NOC - Free Report) by 2.4% in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 59,189 shares of the aerospace company's stock after purchasing an additional 1,404 shares during the period. Asset Management One Co. Ltd.'s holdings in Northrop Grumman were worth $27,899,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. RPg Family Wealth Advisory LLC purchased a new stake in Northrop Grumman during the 3rd quarter valued at $31,000. FSA Wealth Management LLC purchased a new stake in Northrop Grumman during the 3rd quarter valued at $36,000. Albion Financial Group UT purchased a new stake in Northrop Grumman during the 4th quarter valued at $33,000. Catalyst Capital Advisors LLC purchased a new stake in Northrop Grumman during the 3rd quarter valued at $40,000. Finally, Modus Advisors LLC purchased a new stake in Northrop Grumman during the 4th quarter valued at $38,000. Hedge funds and other institutional investors own 83.40% of the company's stock.

Analysts Set New Price Targets

NOC has been the subject of several analyst reports. Truist Financial initiated coverage on shares of Northrop Grumman in a research report on Tuesday, January 14th. They set a "buy" rating and a $544.00 price target for the company. Barclays decreased 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 report on Monday, January 6th. Citigroup upped their price objective on shares of Northrop Grumman from $587.00 to $591.00 and gave the stock a "buy" rating in a report on Monday, February 10th. Royal Bank of Canada upped their price objective on shares of Northrop Grumman from $500.00 to $540.00 and gave the stock a "sector perform" rating in a report on Friday, October 25th. Finally, Wells Fargo & Company decreased their price objective on shares of Northrop Grumman from $595.00 to $574.00 and set an "overweight" rating for the company in a report on Friday, January 31st. Nine equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, Northrop Grumman presently has an average rating of "Moderate Buy" and an average price target of $544.56.

Northrop Grumman Stock Up 1.0 %

Northrop Grumman stock traded up $4.29 during trading hours on Tuesday, reaching $443.19. The stock had a trading volume of 442,998 shares, compared to its average volume of 878,976. The company has a market cap of $64.16 billion, a price-to-earnings ratio of 15.61, a PEG ratio of 3.00 and a beta of 0.35. The company has a debt-to-equity ratio of 0.96, a current ratio of 1.01 and a quick ratio of 0.91. The business's 50 day moving average price is $474.14 and its 200-day moving average price is $499.00. Northrop Grumman Co. has a 52 week low of $418.60 and a 52 week high of $555.57.

Northrop Grumman (NYSE:NOC - Get Free Report) last posted its quarterly earnings data on Thursday, January 30th. The aerospace company reported $6.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.27 by $0.12. Northrop Grumman had a net margin of 10.17% and a return on equity of 26.24%. Sell-side analysts anticipate that Northrop Grumman Co. will post 27.94 EPS for the current year.

Northrop Grumman declared that its Board of Directors has initiated a share repurchase plan on Wednesday, December 11th that allows the company to buyback $3.00 billion in outstanding shares. This buyback authorization allows the aerospace company to buy up to 4.3% of its stock through open market purchases. Stock buyback plans are often a sign that the company's board of directors believes its stock is undervalued.

Northrop Grumman Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, December 18th. Investors of record on Monday, December 2nd were given a $2.06 dividend. The ex-dividend date was Monday, December 2nd. This represents a $8.24 dividend on an annualized basis and a yield of 1.86%. Northrop Grumman's dividend payout ratio is currently 29.08%.

Northrop Grumman 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.