Franklin Resources Inc. Grows Stake in Northrop Grumman Co. (NYSE:NOC)

Franklin Resources Inc. increased its holdings in Northrop Grumman Co. (NYSE:NOC - Free Report) by 4.4% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,533,378 shares of the aerospace company's stock after acquiring an additional 107,108 shares during the quarter. Franklin Resources Inc. owned about 1.75% of Northrop Grumman worth $1,188,889,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors also recently bought and sold shares of NOC. Whipplewood Advisors LLC purchased a new position in shares of Northrop Grumman during the fourth quarter valued at approximately $31,000. FSA Wealth Management LLC bought a new position in Northrop Grumman during the 3rd quarter valued at approximately $36,000. Albion Financial Group UT bought a new position in Northrop Grumman during the 4th quarter valued at approximately $33,000. Modus Advisors LLC purchased a new position in Northrop Grumman during the fourth quarter valued at $38,000. Finally, Stonebridge Financial Group LLC bought a new stake in Northrop Grumman in the fourth quarter worth $42,000. 83.40% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the company. Argus upgraded Northrop Grumman to a "strong-buy" rating in a report on Wednesday, February 26th. StockNews.com cut shares of Northrop Grumman from a "strong-buy" rating to a "buy" rating in a report on Monday, February 3rd. Royal Bank of Canada upgraded shares of Northrop Grumman from a "sector perform" rating to an "outperform" rating and increased their price target for the company from $500.00 to $575.00 in a report on Thursday, March 27th. Barclays reduced their price target 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. Finally, Citigroup upped their price objective on Northrop Grumman from $587.00 to $591.00 and gave the company a "buy" rating in a research report on Monday, February 10th. Eight equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $545.06.

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Northrop Grumman Stock Performance

Shares of NYSE NOC traded up $0.82 during midday trading on Tuesday, hitting $512.83. 710,530 shares of the company's stock traded hands, compared to its average volume of 866,771. The firm has a fifty day moving average of $478.97 and a 200 day moving average of $492.59. 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 0.96, a quick ratio of 0.91 and a current ratio of 1.01. The stock has a market capitalization of $74.24 billion, a price-to-earnings ratio of 18.10, a price-to-earnings-growth ratio of 3.73 and a beta of 0.31.

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

Northrop Grumman Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 19th. Investors of record on Monday, March 3rd were issued a $2.06 dividend. The ex-dividend date was Monday, March 3rd. This represents a $8.24 dividend on an annualized basis and a yield of 1.61%. Northrop Grumman's dividend payout ratio is currently 29.08%.

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

Insider Activity at Northrop Grumman

In other news, CEO Kathy J. Warden sold 3,750 shares of the firm's 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 transaction, the chief executive officer now owns 212,852 shares of the company's stock, valued at $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 Securities & Exchange Commission, which is available through this hyperlink. Also, VP Benjamin R. Davies sold 464 shares of the business'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 value of $213,788.00. Following the transaction, the vice president now owns 245 shares of the company's stock, valued at approximately $112,883.75. This trade represents a 65.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 4,505 shares of company stock worth $2,126,405. Corporate insiders own 0.22% of the company's stock.

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.