Headlands Technologies LLC grew its stake in Northrop Grumman Co. (NYSE:NOC - Free Report) by 115.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 7,958 shares of the aerospace company's stock after purchasing an additional 4,260 shares during the period. Headlands Technologies LLC's holdings in Northrop Grumman were worth $3,735,000 at the end of the most recent reporting period.
Other large investors have also modified their holdings of the company. Sapient Capital LLC increased its stake in Northrop Grumman by 1.1% in the 4th quarter. Sapient Capital LLC now owns 2,049 shares of the aerospace company's stock valued at $962,000 after buying an additional 22 shares during the period. Bank Pictet & Cie Europe AG grew its stake in shares of Northrop Grumman by 2.2% during the 4th quarter. Bank Pictet & Cie Europe AG now owns 1,006 shares of the aerospace company's stock worth $472,000 after purchasing an additional 22 shares during the period. Mather Group LLC. increased its holdings in Northrop Grumman by 2.6% in the fourth quarter. Mather Group LLC. now owns 900 shares of the aerospace company's stock valued at $422,000 after buying an additional 23 shares in the last quarter. Jacobi Capital Management LLC lifted its position in shares of Northrop Grumman by 1.2% during the 4th quarter. Jacobi Capital Management LLC now owns 1,987 shares of the aerospace company's stock valued at $933,000 after acquiring an additional 23 shares during the period. Finally, Baron Silver Stevens Financial Advisors LLC boosted its stake in shares of Northrop Grumman by 5.9% during the 4th quarter. Baron Silver Stevens Financial Advisors LLC now owns 432 shares of the aerospace company's stock worth $203,000 after acquiring an additional 24 shares in the last quarter. Hedge funds and other institutional investors own 83.40% of the company's stock.
Northrop Grumman Trading Up 0.6 %
Shares of NOC stock traded up $3.02 during mid-day trading on Thursday, reaching $515.20. The company's stock had a trading volume of 1,055,787 shares, compared to its average volume of 867,320. The company's 50 day simple moving average is $479.17 and its 200-day simple moving average is $492.73. The company has a quick ratio of 0.91, a current ratio of 1.01 and a debt-to-equity ratio of 0.96. Northrop Grumman Co. has a 12-month low of $418.60 and a 12-month high of $555.57. The firm has a market capitalization of $74.58 billion, a PE ratio of 18.18, 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 earnings per share for the quarter, beating the consensus estimate 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, research analysts predict that Northrop Grumman Co. will post 28.05 EPS for the current fiscal year.
Northrop Grumman announced that its Board of Directors has authorized a stock repurchase plan on Wednesday, December 11th that allows the company to buyback $3.00 billion in outstanding shares. This buyback authorization allows the aerospace company to buy up to 4.3% of its shares through open market purchases. Shares buyback plans are generally a sign that the company's board of directors believes its shares are undervalued.
Northrop Grumman Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 19th. Shareholders of record on Monday, March 3rd were paid a dividend of $2.06 per share. The ex-dividend date was Monday, March 3rd. This represents a $8.24 dividend on an annualized basis and a yield of 1.60%. Northrop Grumman's dividend payout ratio (DPR) is 29.08%.
Insider Buying and Selling
In related news, VP Benjamin R. Davies sold 464 shares of the firm's stock in a transaction that occurred on Friday, February 28th. The stock was sold at an average price of $460.75, for a total value of $213,788.00. Following the sale, 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 position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Kathy J. Warden sold 3,750 shares of the company's stock in a transaction dated 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 transaction, the chief executive officer now owns 212,852 shares of the company's stock, valued at $101,243,053.80. This represents a 1.73 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 4,505 shares of company stock worth $2,126,405. Corporate insiders own 0.22% of the company's stock.
Wall Street Analyst Weigh In
A number of analysts have commented on the company. StockNews.com downgraded Northrop Grumman from a "strong-buy" rating to a "buy" rating in a research report on Monday, February 3rd. Royal Bank of Canada upgraded shares of Northrop Grumman from a "sector perform" rating to an "outperform" rating and boosted their price objective for the stock from $500.00 to $575.00 in a research report on Thursday, March 27th. Argus upgraded shares of Northrop Grumman to a "strong-buy" rating in a report on Wednesday, February 26th. UBS Group reduced their price objective on Northrop Grumman from $579.00 to $558.00 and set a "buy" rating on the stock in a research report on Friday, January 31st. Finally, Wells Fargo & Company upped their price objective on shares of Northrop Grumman from $545.00 to $547.00 and gave the company an "overweight" rating in a research note on Friday, March 7th. Eight investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Northrop Grumman presently has an average rating of "Moderate Buy" and an average price target of $545.06.
Check Out Our Latest Stock Analysis on NOC
About Northrop Grumman
(
Free Report)
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.
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