Kentucky Retirement Systems Insurance Trust Fund Grows Stock Position in Northrop Grumman Co. (NYSE:NOC)

Kentucky Retirement Systems Insurance Trust Fund grew its holdings in Northrop Grumman Co. (NYSE:NOC - Free Report) by 93.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,861 shares of the aerospace company's stock after purchasing an additional 3,791 shares during the quarter. Kentucky Retirement Systems Insurance Trust Fund's holdings in Northrop Grumman were worth $3,689,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently made changes to their positions in NOC. Wellington Management Group LLP boosted its holdings in shares of Northrop Grumman by 0.4% during the 3rd quarter. Wellington Management Group LLP now owns 4,140,892 shares of the aerospace company's stock worth $2,186,681,000 after buying an additional 17,596 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of Northrop Grumman by 0.6% in the 3rd quarter. Geode Capital Management LLC now owns 3,003,360 shares of the aerospace company's stock valued at $1,581,644,000 after acquiring an additional 18,791 shares in the last quarter. Franklin Resources Inc. increased its stake in shares of Northrop Grumman by 6.2% in the 3rd quarter. Franklin Resources Inc. now owns 2,426,270 shares of the aerospace company's stock valued at $1,315,729,000 after acquiring an additional 141,816 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of Northrop Grumman by 0.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 809,445 shares of the aerospace company's stock valued at $427,444,000 after acquiring an additional 3,211 shares in the last quarter. Finally, Two Sigma Advisers LP increased its stake in shares of Northrop Grumman by 102.6% in the 3rd quarter. Two Sigma Advisers LP now owns 735,600 shares of the aerospace company's stock valued at $388,448,000 after acquiring an additional 372,500 shares in the last quarter. Institutional investors own 83.40% of the company's stock.

Northrop Grumman Stock Up 2.4 %

NYSE:NOC traded up $10.48 on Friday, hitting $448.59. The stock had a trading volume of 1,677,601 shares, compared to its average volume of 958,365. Northrop Grumman Co. has a 1 year low of $418.60 and a 1 year high of $555.57. The firm's fifty day simple moving average is $471.03 and its two-hundred day simple moving average is $497.45. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.91 and a current ratio of 1.01. The stock has a market cap of $64.94 billion, a P/E ratio of 15.83, a price-to-earnings-growth ratio of 3.69 and a beta of 0.35.

Northrop Grumman (NYSE:NOC - Get Free Report) last issued its quarterly 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 return on equity of 26.24% and a net margin of 10.17%. Analysts predict that Northrop Grumman Co. will post 28.05 earnings per share for the current year.

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

Northrop Grumman Announces Dividend

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 paid a dividend of $2.06 per share. This represents a $8.24 dividend on an annualized basis and a dividend yield of 1.84%. The ex-dividend date of this dividend is Monday, March 3rd. Northrop Grumman's payout ratio is 29.08%.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on NOC shares. Wells Fargo & Company lowered their price objective on shares of Northrop Grumman from $595.00 to $574.00 and set an "overweight" rating for the company in a research note on Friday, January 31st. StockNews.com lowered shares of Northrop Grumman from a "strong-buy" rating to a "buy" rating in a research note on Monday, February 3rd. UBS Group lowered their target price 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. Truist Financial initiated coverage on shares of Northrop Grumman in a research report on Tuesday, January 14th. They issued a "buy" rating and a $544.00 price target for the company. Finally, Barclays decreased 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 research note on Monday, January 6th. Nine analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, Northrop Grumman presently has a consensus rating of "Moderate Buy" and an average target price of $544.56.

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.