Martingale Asset Management L P Has $24.72 Million Stock Holdings in Northrop Grumman Co. (NYSE:NOC)

Martingale Asset Management L P lifted its holdings in Northrop Grumman Co. (NYSE:NOC - Free Report) by 4.1% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 52,682 shares of the aerospace company's stock after buying an additional 2,070 shares during the quarter. Martingale Asset Management L P's holdings in Northrop Grumman were worth $24,723,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Sapient Capital LLC increased its holdings in shares of Northrop Grumman by 1.1% in the fourth quarter. Sapient Capital LLC now owns 2,049 shares of the aerospace company's stock valued at $962,000 after purchasing an additional 22 shares in the last quarter. Bank Pictet & Cie Europe AG increased its stake in shares of Northrop Grumman by 2.2% in the 4th quarter. Bank Pictet & Cie Europe AG now owns 1,006 shares of the aerospace company's stock valued at $472,000 after buying an additional 22 shares during the period. Mather Group LLC. raised its position in shares of Northrop Grumman by 2.6% during the fourth quarter. Mather Group LLC. now owns 900 shares of the aerospace company's stock worth $422,000 after acquiring an additional 23 shares during the last quarter. Jacobi Capital Management LLC lifted its stake in shares of Northrop Grumman by 1.2% during the fourth 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 holdings in Northrop Grumman by 5.9% in the fourth quarter. Baron Silver Stevens Financial Advisors LLC now owns 432 shares of the aerospace company's stock valued at $203,000 after acquiring an additional 24 shares during the last quarter. Institutional investors and hedge funds own 83.40% of the company's stock.

Remove Ads

Northrop Grumman Stock Performance

Shares of NYSE:NOC traded up $2.18 during trading on Monday, reaching $536.17. 203,584 shares of the stock were exchanged, compared to its average volume of 1,033,618. The firm has a market cap of $77.28 billion, a PE ratio of 18.92, a PEG ratio of 3.73 and a beta of 0.20. 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 12 month low of $418.60 and a 12 month high of $555.57. The stock has a 50-day moving average price of $481.83 and a 200-day moving average price of $491.44.

Northrop Grumman (NYSE:NOC - Get Free Report) last posted its quarterly earnings data on Thursday, January 30th. The aerospace company reported $6.39 earnings per share for the quarter, topping the consensus estimate of $6.27 by $0.12. Northrop Grumman had a return on equity of 26.24% and a net margin of 10.17%. Research analysts expect that Northrop Grumman Co. will post 28.05 EPS for the current fiscal year.

Northrop Grumman Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 19th. Stockholders of record on Monday, March 3rd were given a $2.06 dividend. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $8.24 dividend on an annualized basis and a dividend yield of 1.54%. Northrop Grumman's payout ratio is 29.08%.

Insider Activity at Northrop Grumman

In other news, VP Benjamin R. Davies sold 464 shares of the stock in a transaction on Friday, February 28th. The stock was sold at an average price of $460.75, for a total transaction of $213,788.00. Following the sale, the vice president now directly owns 245 shares of the company's stock, valued at approximately $112,883.75. This represents a 65.44 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed 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 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 position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 4,505 shares of company stock worth $2,127,182. Company insiders own 0.22% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on NOC. Truist Financial initiated coverage on shares of Northrop Grumman in a research report on Tuesday, January 14th. They set a "buy" rating and a $544.00 target price on the stock. Susquehanna reduced their price objective on shares of Northrop Grumman from $625.00 to $557.00 and set a "positive" rating on the stock in a research note on Wednesday, January 8th. Citigroup upped their target price on shares of Northrop Grumman from $587.00 to $591.00 and gave the company a "buy" rating in a research report on Monday, February 10th. Royal Bank of Canada upgraded Northrop Grumman from a "sector perform" rating to an "outperform" rating and raised their price target for the stock from $500.00 to $575.00 in a research report on Thursday, March 27th. Finally, Wells Fargo & Company upped their price objective on Northrop Grumman from $545.00 to $547.00 and gave the company an "overweight" rating in a report on Friday, March 7th. Nine investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $543.65.

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.