Northrop Grumman Co. (NYSE:NOC) Shares Sold by Corient Private Wealth LLC

Corient Private Wealth LLC cut its holdings in Northrop Grumman Co. (NYSE:NOC - Free Report) by 16.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 172,000 shares of the aerospace company's stock after selling 35,026 shares during the period. Corient Private Wealth LLC owned 0.12% of Northrop Grumman worth $80,720,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in NOC. CIBC Asset Management Inc lifted its stake in shares of Northrop Grumman by 7.2% during the 3rd quarter. CIBC Asset Management Inc now owns 20,597 shares of the aerospace company's stock valued at $10,877,000 after buying an additional 1,382 shares in the last quarter. Mizuho Securities USA LLC lifted its stake in shares of Northrop Grumman by 165.7% during the 3rd quarter. Mizuho Securities USA LLC now owns 28,512 shares of the aerospace company's stock valued at $15,056,000 after buying an additional 17,781 shares in the last quarter. BCGM Wealth Management LLC lifted its stake in shares of Northrop Grumman by 1.0% during the 3rd quarter. BCGM Wealth Management LLC now owns 6,312 shares of the aerospace company's stock valued at $3,333,000 after buying an additional 62 shares in the last quarter. Chesapeake Capital Corp IL purchased a new position in shares of Northrop Grumman during the 3rd quarter valued at $759,000. Finally, Claro Advisors LLC lifted its stake in shares of Northrop Grumman by 24.2% during the 3rd quarter. Claro Advisors LLC now owns 2,467 shares of the aerospace company's stock valued at $1,303,000 after buying an additional 480 shares in the last quarter. 83.40% of the stock is currently owned by institutional investors.

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Analysts Set New Price Targets

Several brokerages have commented on NOC. Wolfe Research upgraded shares of Northrop Grumman from an "underperform" rating to a "peer perform" rating in a research note on Monday, February 3rd. Truist Financial began coverage on shares of Northrop Grumman in a research note on Tuesday, January 14th. They issued a "buy" rating and a $544.00 price target on the stock. StockNews.com cut shares of Northrop Grumman from a "strong-buy" rating to a "buy" rating in a research note on Monday, February 3rd. UBS Group decreased their price target on shares of Northrop Grumman from $579.00 to $558.00 and set a "buy" rating on the stock in a research note on Friday, January 31st. Finally, Barclays decreased their price target on shares of 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. Nine 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. Based on data from MarketBeat.com, Northrop Grumman presently has a consensus rating of "Moderate Buy" and a consensus price target of $542.88.

Insider Transactions at Northrop Grumman

In related news, CEO Kathy J. Warden sold 3,750 shares of the stock in a transaction that occurred 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 owns 212,852 shares of the company's stock, valued at $101,243,053.80. This represents a 1.73 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Benjamin R. Davies sold 464 shares of the company's stock in a transaction that occurred 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 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. In the last quarter, insiders sold 4,505 shares of company stock valued at $2,126,405. Company insiders own 0.22% of the company's stock.

Northrop Grumman Trading Down 0.5 %

NOC stock traded down $2.54 during mid-day trading on Thursday, reaching $488.98. The company had a trading volume of 685,595 shares, compared to its average volume of 824,089. 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 company has a market capitalization of $70.78 billion, a PE ratio of 17.25, a price-to-earnings-growth ratio of 3.73 and a beta of 0.31. The firm has a 50 day moving average of $473.98 and a 200 day moving average of $493.77. Northrop Grumman Co. has a 12 month low of $418.60 and a 12 month high of $555.57.

Northrop Grumman (NYSE:NOC - Get Free Report) last issued 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%. On average, equities analysts predict that Northrop Grumman Co. will post 28.05 earnings per share for the current fiscal year.

Northrop Grumman Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 19th. Stockholders of record on Monday, March 3rd were given a $2.06 dividend. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $8.24 annualized dividend and a dividend yield of 1.69%. Northrop Grumman's payout ratio is presently 29.08%.

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

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.