Globeflex Capital L P Invests $8.31 Million in Northrop Grumman Co. (NYSE:NOC)

Globeflex Capital L P purchased a new stake in Northrop Grumman Co. (NYSE:NOC - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 17,700 shares of the aerospace company's stock, valued at approximately $8,306,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. RPg Family Wealth Advisory LLC acquired a new position in Northrop Grumman during the third quarter worth about $31,000. Whipplewood Advisors LLC purchased a new position in shares of Northrop Grumman during the 4th quarter worth approximately $31,000. Albion Financial Group UT acquired a new position in shares of Northrop Grumman during the 4th quarter worth approximately $33,000. FSA Wealth Management LLC acquired a new position in shares of Northrop Grumman during the 3rd quarter worth approximately $36,000. Finally, Modus Advisors LLC purchased a new stake in Northrop Grumman in the 4th quarter valued at approximately $38,000. Institutional investors and hedge funds own 83.40% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on NOC. Susquehanna cut their price target on Northrop Grumman from $625.00 to $557.00 and set a "positive" rating for the company in a report on Wednesday, January 8th. Citigroup boosted their target price on shares of Northrop Grumman from $587.00 to $591.00 and gave the company a "buy" rating in a research note on Monday, February 10th. Wolfe Research raised shares of Northrop Grumman from an "underperform" rating to a "peer perform" rating in a research note on Monday, February 3rd. Barclays lowered 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 report on Monday, January 6th. Finally, Truist Financial started coverage on shares of Northrop Grumman in a research note on Tuesday, January 14th. They set a "buy" rating and a $544.00 price objective on the stock. Nine investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Northrop Grumman currently has an average rating of "Moderate Buy" and a consensus target price of $542.88.

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Northrop Grumman Stock Up 0.4 %

Shares of NOC traded up $1.75 during midday trading on Wednesday, reaching $491.56. 846,750 shares of the company were exchanged, compared to its average volume of 824,328. The stock has a 50-day moving average price of $473.40 and a 200-day moving average price of $493.79. The company has a market cap of $71.16 billion, a price-to-earnings ratio of 17.35, a P/E/G ratio of 3.73 and a beta of 0.31. The company has a current ratio of 1.01, a quick ratio of 0.91 and a debt-to-equity ratio of 0.96. Northrop Grumman Co. has a 1-year low of $418.60 and a 1-year 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 EPS for the quarter, topping 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%. Research analysts expect that Northrop Grumman Co. will post 28.05 earnings per share for the current year.

Northrop Grumman Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 19th. Stockholders of record on Monday, March 3rd will be given a dividend of $2.06 per share. This represents a $8.24 dividend on an annualized basis and a dividend yield of 1.68%. The ex-dividend date of this dividend is Monday, March 3rd. Northrop Grumman's payout ratio is 29.08%.

Northrop Grumman declared that its board has approved a share repurchase program 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 shares through open market purchases. Shares buyback programs are generally an indication that the company's leadership believes its stock is undervalued.

Insider Buying and Selling

In related news, CEO Kathy J. Warden sold 3,750 shares of the company'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 sale, the chief executive officer now directly owns 212,852 shares of the company's stock, valued at $101,243,053.80. This represents a 1.73 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Benjamin R. Davies sold 192 shares of the firm's stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $429.08, for a total transaction of $82,383.36. Following the transaction, the vice president now directly owns 709 shares of the company's stock, valued at approximately $304,217.72. This represents a 21.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 4,505 shares of company stock worth $2,126,405. 0.22% of the stock is currently owned by corporate 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.