Northrop Grumman Co. (NYSE:NOC) Shares Acquired by Jones Financial Companies Lllp

Jones Financial Companies Lllp boosted its holdings in shares of Northrop Grumman Co. (NYSE:NOC - Free Report) by 71.7% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 6,023 shares of the aerospace company's stock after buying an additional 2,515 shares during the quarter. Jones Financial Companies Lllp's holdings in Northrop Grumman were worth $2,826,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the business. Modera Wealth Management LLC boosted its holdings in shares of Northrop Grumman by 1.6% in the 4th quarter. Modera Wealth Management LLC now owns 7,974 shares of the aerospace company's stock valued at $3,742,000 after acquiring an additional 122 shares during the last quarter. SRS Capital Advisors Inc. boosted its holdings in Northrop Grumman by 810.6% during the fourth quarter. SRS Capital Advisors Inc. now owns 856 shares of the aerospace company's stock worth $402,000 after buying an additional 762 shares in the last quarter. Smartleaf Asset Management LLC boosted its holdings in Northrop Grumman by 40.6% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,275 shares of the aerospace company's stock worth $595,000 after buying an additional 368 shares in the last quarter. Jacobi Capital Management LLC boosted its holdings in Northrop Grumman by 1.2% during the fourth quarter. Jacobi Capital Management LLC now owns 1,987 shares of the aerospace company's stock worth $933,000 after buying an additional 23 shares in the last quarter. Finally, Metis Global Partners LLC boosted its holdings in Northrop Grumman by 2.3% during the fourth quarter. Metis Global Partners LLC now owns 6,020 shares of the aerospace company's stock worth $2,825,000 after buying an additional 133 shares in the last quarter. 83.40% of the stock is owned by hedge funds and other institutional investors.

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Insider Buying and Selling

In related news, VP Benjamin R. Davies sold 192 shares of the firm's stock in a transaction dated 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. This trade represents a 21.31 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Kathy J. Warden sold 3,750 shares of Northrop Grumman stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $475.65, for a total transaction of $1,783,687.50. Following the sale, the chief executive officer now owns 212,852 shares of the company's stock, valued at approximately $101,243,053.80. This represents a 1.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 4,505 shares of company stock worth $2,126,405. Insiders own 0.22% of the company's stock.

Analyst Ratings Changes

A number of analysts recently issued reports on the stock. Citigroup increased their price target on shares of Northrop Grumman from $587.00 to $591.00 and gave the stock a "buy" rating in a report on Monday, February 10th. UBS Group lowered their price target on shares of Northrop Grumman from $579.00 to $558.00 and set a "buy" rating on the stock in a report on Friday, January 31st. Truist Financial began coverage on shares of Northrop Grumman in a report on Tuesday, January 14th. They set a "buy" rating and a $544.00 price target on the stock. Wolfe Research raised shares of Northrop Grumman from an "underperform" rating to a "peer perform" rating in a report on Monday, February 3rd. Finally, Susquehanna decreased 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. Nine investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Northrop Grumman presently has a consensus rating of "Moderate Buy" and an average price target of $542.88.

Northrop Grumman Price Performance

Shares of NYSE NOC traded up $12.02 during mid-day trading on Friday, reaching $487.22. The company's stock had a trading volume of 1,027,141 shares, compared to its average volume of 996,657. The stock has a 50-day moving average of $469.88 and a two-hundred day moving average of $495.20. The stock has a market capitalization of $70.53 billion, a P/E ratio of 17.19, a P/E/G ratio of 3.73 and a beta of 0.31. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.91 and a current ratio of 1.01. 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 issued its earnings results on Thursday, January 30th. The aerospace company reported $6.39 EPS for the quarter, beating 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%. On average, equities research analysts anticipate 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 share repurchase plan on Wednesday, December 11th that authorizes the company to buyback $3.00 billion in 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 typically an indication that the company's board of directors believes its shares are undervalued.

Northrop Grumman Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 19th. Investors of record on Monday, March 3rd will be given a dividend of $2.06 per share. This represents a $8.24 annualized dividend and a yield of 1.69%. The ex-dividend date of this dividend is Monday, March 3rd. Northrop Grumman's payout ratio is currently 29.08%.

About Northrop Grumman

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.