3,256 Shares in Northrop Grumman Co. (NYSE:NOC) Acquired by AXQ Capital LP

AXQ Capital LP acquired a new stake in shares of Northrop Grumman Co. (NYSE:NOC - Free Report) in the fourth quarter, according to its most recent disclosure with the SEC. The firm acquired 3,256 shares of the aerospace company's stock, valued at approximately $1,528,000. Northrop Grumman makes up about 0.7% of AXQ Capital LP's holdings, making the stock its 15th biggest position.

Other hedge funds have also recently modified their holdings of the company. Intellus Advisors LLC purchased a new position in Northrop Grumman during the 4th quarter valued at approximately $341,000. Sei Investments Co. grew its holdings in shares of Northrop Grumman by 2.9% in the fourth quarter. Sei Investments Co. now owns 65,194 shares of the aerospace company's stock valued at $30,601,000 after purchasing an additional 1,836 shares in the last quarter. American Century Companies Inc. increased its position in Northrop Grumman by 13.8% in the fourth quarter. American Century Companies Inc. now owns 9,610 shares of the aerospace company's stock worth $4,510,000 after purchasing an additional 1,166 shares during the last quarter. Mizuho Securities USA LLC raised its stake in Northrop Grumman by 45.6% during the fourth quarter. Mizuho Securities USA LLC now owns 12,980 shares of the aerospace company's stock valued at $6,091,000 after purchasing an additional 4,066 shares in the last quarter. Finally, Virtu Financial LLC lifted its position in Northrop Grumman by 7.4% during the fourth quarter. Virtu Financial LLC now owns 2,456 shares of the aerospace company's stock valued at $1,153,000 after purchasing an additional 170 shares during the last quarter. Hedge funds and other institutional investors own 83.40% of the company's stock.

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Wall Street Analyst Weigh In

Several brokerages have recently issued reports on NOC. UBS Group decreased their target price on shares of Northrop Grumman from $579.00 to $558.00 and set a "buy" rating on the stock in a research report on Friday, January 31st. Wells Fargo & Company lifted their target price on Northrop Grumman from $545.00 to $547.00 and gave the stock an "overweight" rating in a report on Friday, March 7th. Truist Financial initiated coverage on Northrop Grumman in a report on Tuesday, January 14th. They set a "buy" rating and a $544.00 price target on the stock. Argus raised shares of Northrop Grumman to a "strong-buy" rating in a research report on Wednesday, February 26th. Finally, Barclays reduced their price target on Northrop Grumman from $550.00 to $500.00 and set an "equal weight" rating on the stock in a report on Monday, January 6th. Nine investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $542.88.

Northrop Grumman Stock Down 0.1 %

Shares of NYSE NOC traded down $0.36 during mid-day trading on Wednesday, reaching $506.26. 821,063 shares of the company were exchanged, compared to its average volume of 832,772. Northrop Grumman Co. has a 1 year low of $418.60 and a 1 year high of $555.57. The firm has a 50-day moving average of $476.94 and a 200 day moving average of $492.97. The stock has a market cap of $73.28 billion, a price-to-earnings ratio of 17.86, a P/E/G ratio of 3.73 and a beta of 0.31. The company has a quick ratio of 0.91, a current ratio of 1.01 and a debt-to-equity ratio of 0.96.

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

Northrop Grumman Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 19th. Stockholders of record on Monday, March 3rd were issued a dividend of $2.06 per share. The ex-dividend date was Monday, March 3rd. This represents a $8.24 annualized dividend and a dividend yield of 1.63%. Northrop Grumman's dividend payout ratio is presently 29.08%.

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

Insider Transactions at Northrop Grumman

In other Northrop Grumman news, CEO Kathy J. Warden sold 3,750 shares of the stock in a transaction dated 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 sale, the chief executive officer now directly owns 212,852 shares in the company, valued at approximately $101,243,053.80. This trade represents a 1.73 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, 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 value of $213,788.00. Following the sale, the vice president now owns 245 shares in the company, valued at $112,883.75. The trade was a 65.44 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 4,505 shares of company stock valued at $2,126,405 in the last quarter. 0.22% of the stock is currently owned by corporate insiders.

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.