Geode Capital Management LLC Boosts Stock Holdings in Northrop Grumman Co. (NYSE:NOC)

Geode Capital Management LLC raised its position in shares of Northrop Grumman Co. (NYSE:NOC - Free Report) by 0.6% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 3,003,360 shares of the aerospace company's stock after buying an additional 18,791 shares during the period. Geode Capital Management LLC owned about 2.06% of Northrop Grumman worth $1,581,644,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of NOC. Fisher Asset Management LLC lifted its position in Northrop Grumman by 2.6% in the 3rd quarter. Fisher Asset Management LLC now owns 212,514 shares of the aerospace company's stock valued at $112,222,000 after acquiring an additional 5,334 shares in the last quarter. AIA Group Ltd lifted its holdings in shares of Northrop Grumman by 20.0% in the 3rd quarter. AIA Group Ltd now owns 7,458 shares of the aerospace company's stock worth $3,938,000 after acquiring an additional 1,242 shares during the last quarter. Aviso Wealth Management grew its stake in Northrop Grumman by 110.7% in the second quarter. Aviso Wealth Management now owns 1,896 shares of the aerospace company's stock worth $827,000 after purchasing an additional 996 shares in the last quarter. Susquehanna International Securities Ltd. bought a new stake in Northrop Grumman during the 2nd quarter valued at $1,133,000. Finally, Meridian Wealth Management LLC acquired a new position in Northrop Grumman during the 3rd quarter valued at about $4,089,000. Hedge funds and other institutional investors own 83.40% of the company's stock.

Analyst Ratings Changes

Several analysts have commented on the company. Barclays raised their price objective on Northrop Grumman from $500.00 to $550.00 and gave the company an "equal weight" rating in a report on Tuesday, October 29th. Wells Fargo & Company reduced their price objective on shares of Northrop Grumman from $565.00 to $505.00 and set an "equal weight" rating for the company in a research report on Wednesday. UBS Group boosted their price target on shares of Northrop Grumman from $614.00 to $643.00 and gave the stock a "buy" rating in a research note on Friday, October 25th. TD Cowen upgraded Northrop Grumman to a "hold" rating in a report on Tuesday, October 8th. Finally, Alembic Global Advisors lowered Northrop Grumman from an "overweight" rating to a "neutral" rating and set a $560.00 target price on the stock. in a research report on Tuesday, August 27th. One analyst has rated the stock with a sell rating, ten have given a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Northrop Grumman currently has a consensus rating of "Hold" and an average price target of $546.81.

Northrop Grumman Stock Performance

Northrop Grumman stock traded down $4.62 during mid-day trading on Wednesday, hitting $475.56. 1,058,365 shares of the company's stock traded hands, compared to its average volume of 860,501. The stock has a market cap of $69.29 billion, a price-to-earnings ratio of 29.46, a P/E/G ratio of 0.96 and a beta of 0.33. The firm has a 50 day simple moving average of $510.29 and a two-hundred day simple moving average of $488.01. The company has a debt-to-equity ratio of 1.00, a current ratio of 1.09 and a quick ratio of 0.97. Northrop Grumman Co. has a fifty-two week low of $418.60 and a fifty-two week high of $555.57.

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

Northrop Grumman Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 18th. Shareholders of record on Monday, December 2nd will be given a $2.06 dividend. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $8.24 annualized dividend and a yield of 1.73%. Northrop Grumman's dividend payout ratio is presently 51.05%.

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

Insider Activity

In other news, VP Benjamin R. Davies sold 1,156 shares of the 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 transaction, 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Over the last 90 days, insiders sold 1,255 shares of company stock valued at $666,461. 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.