Franklin Resources Inc. Raises Position in Northrop Grumman Co. (NYSE:NOC)

Franklin Resources Inc. boosted its stake in Northrop Grumman Co. (NYSE:NOC - Free Report) by 4.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,533,378 shares of the aerospace company's stock after purchasing an additional 107,108 shares during the period. Franklin Resources Inc. owned about 1.75% of Northrop Grumman worth $1,188,889,000 at the end of the most recent reporting period.

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

Northrop Grumman Stock Down 3.3 %

NYSE NOC traded down $17.17 during trading hours on Friday, hitting $498.01. The company's stock had a trading volume of 659,484 shares, compared to its average volume of 865,073. The company has a current ratio of 1.01, a quick ratio of 0.91 and a debt-to-equity ratio of 0.96. The company's 50-day simple moving average is $479.48 and its two-hundred day simple moving average is $492.88. The company has a market capitalization of $72.09 billion, a PE ratio of 17.56, a price-to-earnings-growth ratio of 3.73 and a beta of 0.31. Northrop Grumman Co. has a 52 week low of $418.60 and a 52 week high of $555.57.

Northrop Grumman (NYSE:NOC - Get Free Report) last posted its earnings results on Thursday, January 30th. The aerospace company reported $6.39 earnings per share for the quarter, beating analysts' consensus estimates of $6.27 by $0.12. Northrop Grumman had a return on equity of 26.24% and a net margin of 10.17%. Research analysts anticipate that Northrop Grumman Co. will post 28.05 EPS for the current fiscal year.

Northrop Grumman Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 19th. Stockholders of record on Monday, March 3rd were paid 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 1.65%. Northrop Grumman's payout ratio is 29.08%.

Northrop Grumman declared that its Board of Directors has authorized a share buyback program on Wednesday, December 11th that authorizes the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization authorizes the aerospace company to purchase up to 4.3% of its shares through open market purchases. Shares repurchase programs are often a sign that the company's board believes its shares are undervalued.

Analyst Ratings Changes

A number of brokerages have commented on NOC. Royal Bank of Canada raised shares of Northrop Grumman from a "sector perform" rating to an "outperform" rating and upped their price target for the company from $500.00 to $575.00 in a research report on Thursday, March 27th. Susquehanna cut their target price on Northrop Grumman from $625.00 to $557.00 and set a "positive" rating on the stock in a research report on Wednesday, January 8th. Wolfe Research upgraded Northrop Grumman from an "underperform" rating to a "peer perform" rating in a report on Monday, February 3rd. Truist Financial initiated coverage on Northrop Grumman in a research note on Tuesday, January 14th. They issued a "buy" rating and a $544.00 price target on the stock. Finally, Argus raised shares of Northrop Grumman to a "strong-buy" rating in a research report on Wednesday, February 26th. Eight analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Northrop Grumman currently has a consensus rating of "Moderate Buy" and a consensus target price of $545.06.

Insider Activity

In related news, CEO Kathy J. Warden sold 3,750 shares of the stock in a transaction that occurred on Thursday, March 6th. The stock was 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 directly owns 212,852 shares of the company's stock, valued at approximately $101,243,053.80. This trade represents a 1.73 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Benjamin R. Davies sold 192 shares of the business's stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $429.08, for a total value of $82,383.36. Following the completion of the transaction, the vice president now directly owns 709 shares in the company, valued at approximately $304,217.72. This represents a 21.31 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 4,505 shares of company stock worth $2,126,405 over the last quarter. 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.