Northrop Grumman Co. (NYSE:NOC) Shares Bought by Czech National Bank

Czech National Bank boosted its holdings in Northrop Grumman Co. (NYSE:NOC - Free Report) by 6.0% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 29,695 shares of the aerospace company's stock after purchasing an additional 1,691 shares during the quarter. Czech National Bank's holdings in Northrop Grumman were worth $13,936,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. RPg Family Wealth Advisory LLC purchased a new position in shares of Northrop Grumman during the 3rd quarter worth about $31,000. Meeder Asset Management Inc. raised its stake in Northrop Grumman by 245.5% during the second quarter. Meeder Asset Management Inc. now owns 76 shares of the aerospace company's stock worth $33,000 after purchasing an additional 54 shares during the period. FSA Wealth Management LLC acquired a new position in shares of Northrop Grumman in the 3rd quarter valued at $36,000. Modus Advisors LLC purchased a new stake in shares of Northrop Grumman during the 4th quarter valued at $38,000. Finally, Catalyst Capital Advisors LLC acquired a new stake in shares of Northrop Grumman during the 3rd quarter worth $40,000. 83.40% of the stock is owned by institutional investors and hedge funds.

Northrop Grumman Stock Up 0.6 %

NOC traded up $2.99 during trading on Tuesday, hitting $475.37. The company had a trading volume of 553,950 shares, compared to its average volume of 760,943. Northrop Grumman Co. has a 1-year low of $418.60 and a 1-year high of $555.57. The company has a debt-to-equity ratio of 1.00, a current ratio of 1.09 and a quick ratio of 0.97. The company has a market cap of $69.26 billion, a PE ratio of 29.45, a P/E/G ratio of 0.97 and a beta of 0.35. The business has a 50-day moving average of $483.30 and a 200-day moving average of $493.62.

Northrop Grumman (NYSE:NOC - Get Free Report) last issued its earnings results on Thursday, October 24th. The aerospace company reported $7.00 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $6.07 by $0.93. The business had revenue of $10 billion for the quarter, compared to analyst estimates of $10.18 billion. Northrop Grumman had a net margin of 5.79% and a return on equity of 26.57%. The company's revenue for the quarter was up 2.3% on a year-over-year basis. During the same quarter in the prior year, the business posted $6.18 EPS. As a group, analysts forecast that Northrop Grumman Co. will post 25.93 earnings per share for the current year.

Northrop Grumman Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, December 18th. Stockholders of record on Monday, December 2nd were issued a $2.06 dividend. The ex-dividend date was Monday, December 2nd. This represents a $8.24 dividend on an annualized basis and a dividend yield of 1.73%. Northrop Grumman's dividend payout ratio (DPR) is 51.05%.

Northrop Grumman announced that its Board of Directors has authorized a share repurchase program on Wednesday, December 11th that authorizes the company to buyback $3.00 billion in outstanding 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 often a sign that the company's management believes its shares are undervalued.

Analysts Set New Price Targets

A number of research analysts recently weighed in on NOC shares. Citigroup boosted their price target on Northrop Grumman from $521.00 to $587.00 and gave the company a "neutral" rating in a research report on Thursday, October 10th. Barclays dropped their target price on shares of Northrop Grumman from $550.00 to $500.00 and set an "equal weight" rating for the company in a research report on Monday, January 6th. Truist Financial assumed coverage on shares of Northrop Grumman in a report on Tuesday. They issued a "buy" rating and a $544.00 price target on the stock. StockNews.com downgraded shares of Northrop Grumman from a "strong-buy" rating to a "buy" rating in a research note on Saturday. Finally, Wells Fargo & Company raised shares of Northrop Grumman from an "equal weight" rating to an "overweight" rating and set a $595.00 target price on the stock in a research note on Wednesday, January 8th. Nine equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $550.94.

Insider Activity at Northrop Grumman

In related news, VP Benjamin R. Davies sold 1,156 shares of the business's stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $532.93, for a total transaction of $616,067.08. Following the completion of the sale, the vice president now owns 537 shares of the company's stock, valued at $286,183.41. This represents a 68.28 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In the last ninety days, insiders have sold 1,255 shares of company stock valued at $663,859. Corporate insiders own 0.22% of the company's stock.

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.