Northrop Grumman Co. (NYSE:NOC) Shares Sold by Meeder Asset Management Inc.

Meeder Asset Management Inc. decreased its holdings in Northrop Grumman Co. (NYSE:NOC - Free Report) by 66.3% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,298 shares of the aerospace company's stock after selling 2,555 shares during the quarter. Meeder Asset Management Inc.'s holdings in Northrop Grumman were worth $609,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of NOC. Sapient Capital LLC lifted its position in shares of Northrop Grumman by 1.1% during 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 in the last quarter. Bank Pictet & Cie Europe AG raised its position in Northrop Grumman by 2.2% during the fourth quarter. Bank Pictet & Cie Europe AG now owns 1,006 shares of the aerospace company's stock worth $472,000 after acquiring an additional 22 shares during the period. Mather Group LLC. lifted its holdings in Northrop Grumman by 2.6% during the fourth quarter. Mather Group LLC. now owns 900 shares of the aerospace company's stock valued at $422,000 after purchasing an additional 23 shares in the last quarter. Jacobi Capital Management LLC grew its position in shares of Northrop Grumman by 1.2% in the fourth quarter. Jacobi Capital Management LLC now owns 1,987 shares of the aerospace company's stock valued at $933,000 after purchasing an additional 23 shares during the period. Finally, Baron Silver Stevens Financial Advisors LLC increased its stake in shares of Northrop Grumman by 5.9% during the fourth quarter. Baron Silver Stevens Financial Advisors LLC now owns 432 shares of the aerospace company's stock worth $203,000 after purchasing an additional 24 shares in the last quarter. Hedge funds and other institutional investors own 83.40% of the company's stock.

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Insider Buying and Selling

In related news, CEO Kathy J. Warden sold 3,750 shares of the business's stock in a transaction 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 directly owns 212,852 shares of the company's stock, valued at $101,243,053.80. The trade was a 1.73 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Benjamin R. Davies sold 192 shares of the stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $429.08, for a total value of $82,383.36. Following the completion of the sale, the vice president now directly owns 709 shares in the company, valued at $304,217.72. This represents a 21.31 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 4,505 shares of company stock valued at $2,126,405 in the last ninety days. Company insiders own 0.22% of the company's stock.

Northrop Grumman Trading Down 0.2 %

Shares of NOC traded down $0.94 during midday trading on Wednesday, hitting $512.16. 749,699 shares of the stock were exchanged, compared to its average volume of 866,567. Northrop Grumman Co. has a 52-week low of $418.60 and a 52-week high of $555.57. 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 fifty day simple moving average of $479.17 and a 200 day simple moving average of $492.73. The firm has a market cap of $74.14 billion, a P/E ratio of 18.07, a P/E/G 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 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%. On average, 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 stock buyback plan on Wednesday, December 11th that permits the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization permits the aerospace company to reacquire up to 4.3% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company's leadership believes its shares are undervalued.

Northrop Grumman Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 19th. Investors of record on Monday, March 3rd were issued a $2.06 dividend. This represents a $8.24 dividend on an annualized basis and a dividend yield of 1.61%. The ex-dividend date was Monday, March 3rd. Northrop Grumman's dividend payout ratio (DPR) is currently 29.08%.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the company. Susquehanna lowered their price objective on Northrop Grumman from $625.00 to $557.00 and set a "positive" rating on the stock in a report on Wednesday, January 8th. Wells Fargo & Company raised their price target on shares of Northrop Grumman from $545.00 to $547.00 and gave the stock an "overweight" rating in a research note on Friday, March 7th. Truist Financial initiated coverage on shares of Northrop Grumman in a report on Tuesday, January 14th. They issued a "buy" rating and a $544.00 price objective for the company. StockNews.com cut Northrop Grumman from a "strong-buy" rating to a "buy" rating in a report on Monday, February 3rd. Finally, Citigroup increased their price target on Northrop Grumman from $587.00 to $591.00 and gave the company a "buy" rating in a report on Monday, February 10th. Eight equities research 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 company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $545.06.

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.