Northrop Grumman Co. (NYSE:NOC) Stake Cut by ExodusPoint Capital Management LP

ExodusPoint Capital Management LP lessened its holdings in shares of Northrop Grumman Co. (NYSE:NOC - Free Report) by 52.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 31,361 shares of the aerospace company's stock after selling 34,803 shares during the quarter. ExodusPoint Capital Management LP's holdings in Northrop Grumman were worth $14,717,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also bought and sold shares of the company. Whipplewood Advisors LLC purchased a new stake in Northrop Grumman during the fourth quarter valued at $31,000. Albion Financial Group UT bought a new stake in Northrop Grumman during the fourth quarter worth approximately $33,000. Modus Advisors LLC purchased a new stake in Northrop Grumman during the fourth quarter valued at approximately $38,000. Stonebridge Financial Group LLC purchased a new position in shares of Northrop Grumman in the 4th quarter worth approximately $42,000. Finally, Rakuten Securities Inc. boosted its holdings in shares of Northrop Grumman by 291.7% in the 4th quarter. Rakuten Securities Inc. now owns 94 shares of the aerospace company's stock worth $44,000 after purchasing an additional 70 shares during the period. Hedge funds and other institutional investors own 83.40% of the company's stock.

Northrop Grumman Trading Down 0.8 %

Shares of NOC traded down $3.87 during mid-day trading on Monday, reaching $481.65. The stock had a trading volume of 1,967,257 shares, compared to its average volume of 865,336. 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 fifty day moving average is $479.27 and its 200 day moving average is $492.23. Northrop Grumman Co. has a 52-week low of $418.60 and a 52-week high of $555.57. The firm has a market cap of $69.72 billion, a price-to-earnings ratio of 17.00, a P/E/G ratio of 3.73 and a beta of 0.20.

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Northrop Grumman (NYSE:NOC - Get Free Report) last issued its quarterly earnings data on Thursday, January 30th. The aerospace company reported $6.39 EPS for the quarter, topping 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%. On average, sell-side analysts predict that Northrop Grumman Co. will post 28.05 EPS for the current fiscal year.

Northrop Grumman Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 19th. Stockholders of record on Monday, March 3rd were given a dividend of $2.06 per share. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $8.24 annualized dividend and a dividend yield of 1.71%. Northrop Grumman's dividend payout ratio is currently 29.08%.

Northrop Grumman announced that its board has initiated a share repurchase plan on Wednesday, December 11th that authorizes the company to repurchase $3.00 billion in shares. This repurchase authorization authorizes the aerospace company to repurchase up to 4.3% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company's board believes its shares are undervalued.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on NOC shares. Barclays lowered their price target on 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. Susquehanna dropped their price target on shares of Northrop Grumman from $625.00 to $557.00 and set a "positive" rating for the company in a research note on Wednesday, January 8th. Wolfe Research raised shares of Northrop Grumman from an "underperform" rating to a "peer perform" rating in a research report on Monday, February 3rd. UBS Group dropped their target price on Northrop Grumman from $579.00 to $558.00 and set a "buy" rating for the company in a research report on Friday, January 31st. Finally, Citigroup increased their price target on Northrop Grumman from $587.00 to $591.00 and gave the stock a "buy" rating in a report on Monday, February 10th. Eight analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $545.06.

Insider Buying and Selling

In other Northrop Grumman news, CEO Kathy J. Warden sold 3,750 shares of the business's stock in a transaction on Thursday, March 6th. The shares were sold at an average price of $475.65, for a total value of $1,783,687.50. Following the transaction, the chief executive officer now directly owns 212,852 shares of the company's stock, valued at approximately $101,243,053.80. The trade was a 1.73 % decrease in their position. The sale 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 company's stock in a transaction on Friday, February 28th. The stock was sold at an average price of $460.75, for a total value of $213,788.00. Following the transaction, the vice president now directly owns 245 shares in the company, valued at $112,883.75. This represents a 65.44 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 4,472 shares of company stock worth $2,111,332 over the last 90 days. 0.22% of the stock is owned by insiders.

Northrop Grumman Company 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.