Homestead Advisers Corp Purchases 6,700 Shares of Northrop Grumman Co. (NYSE:NOC)

Homestead Advisers Corp lifted its stake in shares of Northrop Grumman Co. (NYSE:NOC - Free Report) by 3.8% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 184,672 shares of the aerospace company's stock after buying an additional 6,700 shares during the quarter. Northrop Grumman comprises 2.1% of Homestead Advisers Corp's portfolio, making the stock its 16th largest position. Homestead Advisers Corp owned approximately 0.13% of Northrop Grumman worth $86,665,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of the stock. Vanguard Group Inc. grew its holdings in shares of Northrop Grumman by 0.5% during the 4th quarter. Vanguard Group Inc. now owns 12,677,781 shares of the aerospace company's stock worth $5,949,556,000 after acquiring an additional 56,807 shares during the period. Wellington Management Group LLP boosted its position in shares of Northrop Grumman by 0.4% during the third quarter. Wellington Management Group LLP now owns 4,140,892 shares of the aerospace company's stock valued at $2,186,681,000 after purchasing an additional 17,596 shares in the last quarter. Geode Capital Management LLC grew its stake in Northrop Grumman by 0.6% in the third quarter. Geode Capital Management LLC now owns 3,003,360 shares of the aerospace company's stock worth $1,581,644,000 after purchasing an additional 18,791 shares during the period. Franklin Resources Inc. grew its stake in Northrop Grumman by 6.2% in the third quarter. Franklin Resources Inc. now owns 2,426,270 shares of the aerospace company's stock worth $1,315,729,000 after purchasing an additional 141,816 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its holdings in Northrop Grumman by 2.8% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 832,463 shares of the aerospace company's stock worth $390,667,000 after purchasing an additional 23,018 shares in the last quarter. 83.40% of the stock is owned by institutional investors.

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Insider Activity

In related news, VP Benjamin R. Davies sold 192 shares of the business's stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $429.08, for a total transaction of $82,383.36. Following the completion of the sale, the vice president now directly owns 709 shares in the company, valued at approximately $304,217.72. The trade was a 21.31 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, 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 transaction, the chief executive officer now owns 212,852 shares in the company, valued at $101,243,053.80. The trade was a 1.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 4,505 shares of company stock valued at $2,126,405 in the last ninety days. 0.22% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on NOC shares. Wells Fargo & Company upped their target price on shares of Northrop Grumman from $545.00 to $547.00 and gave the stock an "overweight" rating in a research report on Friday, March 7th. Susquehanna cut their price objective on shares of Northrop Grumman from $625.00 to $557.00 and set a "positive" rating on the stock in a report on Wednesday, January 8th. Wolfe Research upgraded shares of Northrop Grumman from an "underperform" rating to a "peer perform" rating in a report on Monday, February 3rd. Barclays dropped their price target on Northrop Grumman from $550.00 to $500.00 and set an "equal weight" rating on the stock in a research report on Monday, January 6th. Finally, UBS Group reduced their price objective on Northrop Grumman from $579.00 to $558.00 and set a "buy" rating for the company in a research report on Friday, January 31st. Eight research analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $545.06.

Northrop Grumman Stock Performance

NYSE NOC traded down $1.96 during trading hours on Friday, hitting $511.86. The company's stock had a trading volume of 730,463 shares, compared to its average volume of 866,646. Northrop Grumman Co. has a 12 month low of $418.60 and a 12 month high of $555.57. The company's 50 day simple moving average is $478.20 and its two-hundred day simple moving average is $492.84. The company has a debt-to-equity ratio of 0.96, a current ratio of 1.01 and a quick ratio of 0.91. The company has a market cap of $74.09 billion, a P/E ratio of 18.06, 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 quarterly 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%. As a group, sell-side analysts expect that Northrop Grumman Co. will post 28.05 EPS for the current fiscal year.

Northrop Grumman announced that its board has approved a stock repurchase program on Wednesday, December 11th that authorizes the company to repurchase $3.00 billion in shares. This repurchase authorization authorizes the aerospace company to repurchase up to 4.3% of its stock through open market purchases. Stock repurchase programs are often a sign that the company's board of directors believes its stock is undervalued.

Northrop Grumman Dividend Announcement

The business also recently announced 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 1.61%. Northrop Grumman's dividend payout ratio is presently 29.08%.

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.