Mizuho Securities USA LLC Increases Stock Holdings in Northrop Grumman Co. (NYSE:NOC)

Mizuho Securities USA LLC raised its holdings in Northrop Grumman Co. (NYSE:NOC - Free Report) by 45.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 12,980 shares of the aerospace company's stock after acquiring an additional 4,066 shares during the period. Mizuho Securities USA LLC's holdings in Northrop Grumman were worth $6,091,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of NOC. King Luther Capital Management Corp raised its holdings in shares of Northrop Grumman by 7.6% during the 3rd quarter. King Luther Capital Management Corp now owns 1,229 shares of the aerospace company's stock worth $649,000 after acquiring an additional 87 shares during the period. LPL Financial LLC increased its position in shares of Northrop Grumman by 4.0% during the 3rd quarter. LPL Financial LLC now owns 242,983 shares of the aerospace company's stock worth $128,312,000 after purchasing an additional 9,353 shares during the last quarter. Integrated Investment Consultants LLC acquired a new position in Northrop Grumman in the third quarter valued at about $273,000. GM Advisory Group LLC purchased a new position in Northrop Grumman during the third quarter worth about $226,000. Finally, Nwam LLC purchased a new stake in shares of Northrop Grumman in the 3rd quarter valued at approximately $761,000. Institutional investors and hedge funds own 83.40% of the company's stock.

Northrop Grumman Price Performance

Shares of NOC traded up $6.81 during mid-day trading on Thursday, hitting $513.95. 927,934 shares of the company traded hands, compared to its average volume of 833,236. The business has a 50-day moving average of $476.94 and a 200 day moving average of $492.97. The company has a current ratio of 1.01, a quick ratio of 0.91 and a debt-to-equity ratio of 0.96. The stock has a market capitalization of $74.40 billion, a price-to-earnings ratio of 18.14, a PEG ratio of 3.73 and a beta of 0.31. Northrop Grumman Co. has a one year low of $418.60 and a one year high of $555.57.

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Northrop Grumman (NYSE:NOC - Get Free Report) last released its quarterly earnings results on Thursday, January 30th. The aerospace company reported $6.39 earnings per share for the quarter, beating the consensus estimate 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, equities analysts expect that Northrop Grumman Co. will post 28.05 earnings per share for the current fiscal year.

Northrop Grumman declared that its board has initiated a share repurchase program on Wednesday, December 11th that allows the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization allows the aerospace company to buy up to 4.3% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company's management believes its stock is undervalued.

Northrop Grumman Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 19th. Investors of record on Monday, March 3rd were given a dividend of $2.06 per share. This represents a $8.24 annualized dividend and a yield of 1.60%. The ex-dividend date of this dividend was Monday, March 3rd. Northrop Grumman's dividend payout ratio is currently 29.08%.

Insider Activity at Northrop Grumman

In other news, VP Benjamin R. Davies sold 192 shares of the firm'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 owns 709 shares in the company, valued at $304,217.72. This trade represents a 21.31 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Kathy J. Warden sold 3,750 shares of the stock in a transaction on Thursday, March 6th. The stock was sold at an average price of $475.65, for a total value of $1,783,687.50. Following the sale, the chief executive officer now owns 212,852 shares in the company, valued at approximately $101,243,053.80. This represents a 1.73 % 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 worth $2,126,405 in the last 90 days. Corporate insiders own 0.22% of the company's stock.

Analyst Ratings Changes

Several analysts recently weighed in on NOC shares. Susquehanna dropped their target price on shares of Northrop Grumman from $625.00 to $557.00 and set a "positive" rating for the company in a report on Wednesday, January 8th. Barclays decreased their target price on Northrop Grumman from $550.00 to $500.00 and set an "equal weight" rating on the stock in a research note on Monday, January 6th. StockNews.com downgraded shares of Northrop Grumman from a "strong-buy" rating to a "buy" rating in a research note on Monday, February 3rd. Wolfe Research raised Northrop Grumman from an "underperform" rating to a "peer perform" rating in a research report on Monday, February 3rd. Finally, Wells Fargo & Company raised their target price on Northrop Grumman from $545.00 to $547.00 and gave the stock an "overweight" rating in a research report on Friday, March 7th. Eight research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $545.06.

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.