Northrop Grumman Co. (NYSE:NOC) Shares Sold by Fisher Asset Management LLC

Fisher Asset Management LLC trimmed its position in shares of Northrop Grumman Co. (NYSE:NOC - Free Report) by 4.1% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 203,811 shares of the aerospace company's stock after selling 8,703 shares during the period. Fisher Asset Management LLC owned about 0.14% of Northrop Grumman worth $95,647,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. RPg Family Wealth Advisory LLC bought a new position in Northrop Grumman during the 3rd quarter valued at about $31,000. Whipplewood Advisors LLC bought a new position in Northrop Grumman in the 4th quarter worth about $31,000. FSA Wealth Management LLC bought a new position in Northrop Grumman in the 3rd quarter worth about $36,000. Albion Financial Group UT bought a new position in Northrop Grumman in the 4th quarter worth about $33,000. Finally, Catalyst Capital Advisors LLC bought a new position in Northrop Grumman in the 3rd quarter worth about $40,000. 83.40% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on NOC. Citigroup upped their target price on shares of Northrop Grumman from $587.00 to $591.00 and gave the stock a "buy" rating in a research note on Monday, February 10th. Susquehanna dropped their target price on shares of Northrop Grumman from $625.00 to $557.00 and set a "positive" rating on the stock in a research note on Wednesday, January 8th. 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 target price on the stock. Argus upgraded shares of Northrop Grumman to a "strong-buy" rating in a research note on Wednesday, February 26th. Finally, Wells Fargo & Company lowered their price target on shares of Northrop Grumman from $574.00 to $545.00 and set an "overweight" rating for the company in a research report on Wednesday, February 26th. Nine equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Northrop Grumman has an average rating of "Moderate Buy" and a consensus target price of $542.75.

Insider Buying and Selling at Northrop Grumman

In other news, VP Benjamin R. Davies sold 192 shares of the stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $429.08, for a total value of $82,383.36. Following the sale, the vice president now owns 709 shares in the company, valued at $304,217.72. This represents a 21.31 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In the last quarter, insiders have sold 755 shares of company stock worth $342,972. 0.22% of the stock is owned by corporate insiders.

Northrop Grumman Stock Performance

Northrop Grumman stock traded up $10.88 during mid-day trading on Wednesday, reaching $474.71. 1,188,398 shares of the company traded hands, compared to its average volume of 997,238. The company has a debt-to-equity ratio of 0.96, a current ratio of 1.01 and a quick ratio of 0.91. Northrop Grumman Co. has a fifty-two week low of $418.60 and a fifty-two week high of $555.57. The company has a market capitalization of $68.72 billion, a price-to-earnings ratio of 16.75, a price-to-earnings-growth ratio of 3.73 and a beta of 0.35. The firm's fifty day moving average is $469.50 and its two-hundred day moving average is $495.46.

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

Northrop Grumman Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 19th. Shareholders of record on Monday, March 3rd will be paid a dividend of $2.06 per share. The ex-dividend date is Monday, March 3rd. This represents a $8.24 dividend on an annualized basis and a yield of 1.74%. Northrop Grumman's payout ratio is 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 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.