Northrop Grumman Co. (NYSE:NOC) Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. trimmed its holdings in Northrop Grumman Co. (NYSE:NOC - Free Report) by 1.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 164,451 shares of the aerospace company's stock after selling 1,983 shares during the period. Principal Financial Group Inc. owned about 0.11% of Northrop Grumman worth $77,175,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in NOC. Foundations Investment Advisors LLC lifted its stake in Northrop Grumman by 1.4% in the 3rd quarter. Foundations Investment Advisors LLC now owns 1,478 shares of the aerospace company's stock worth $780,000 after purchasing an additional 20 shares in the last quarter. PBMares Wealth Management LLC lifted its position in shares of Northrop Grumman by 0.5% in the third quarter. PBMares Wealth Management LLC now owns 4,421 shares of the aerospace company's stock worth $2,335,000 after buying an additional 20 shares in the last quarter. Hudson Valley Investment Advisors Inc. ADV raised its position in shares of Northrop Grumman by 0.9% during the 3rd quarter. Hudson Valley Investment Advisors Inc. ADV now owns 2,262 shares of the aerospace company's stock valued at $1,194,000 after buying an additional 20 shares in the last quarter. Meeder Advisory Services Inc. lifted its holdings in shares of Northrop Grumman by 0.9% in the 3rd quarter. Meeder Advisory Services Inc. now owns 2,288 shares of the aerospace company's stock valued at $1,208,000 after acquiring an additional 20 shares during the last quarter. Finally, Frank Rimerman Advisors LLC grew its position in Northrop Grumman by 1.1% in the third quarter. Frank Rimerman Advisors LLC now owns 1,937 shares of the aerospace company's stock worth $1,023,000 after acquiring an additional 21 shares in the last quarter. Hedge funds and other institutional investors own 83.40% of the company's stock.

Northrop Grumman Stock Up 2.5 %

NYSE:NOC traded up $10.95 during mid-day trading on Friday, reaching $449.06. The company's stock had a trading volume of 925,420 shares, compared to its average volume of 934,464. The company has a quick ratio of 0.91, a current ratio of 1.01 and a debt-to-equity ratio of 0.96. Northrop Grumman Co. has a 1 year low of $418.60 and a 1 year high of $555.57. The stock has a fifty day moving average of $471.66 and a 200-day moving average of $497.75. The firm has a market capitalization of $65.01 billion, a PE ratio of 15.82, a price-to-earnings-growth ratio of 3.69 and a beta of 0.35.

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

Northrop Grumman announced that its board has authorized a share repurchase 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 purchase up to 4.3% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company's board believes its shares are undervalued.

Northrop Grumman Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 19th. Stockholders of record on Monday, March 3rd will be issued a $2.06 dividend. The ex-dividend date is Monday, March 3rd. This represents a $8.24 dividend on an annualized basis and a dividend yield of 1.83%. Northrop Grumman's dividend payout ratio is presently 29.08%.

Analyst Ratings Changes

NOC has been the subject of several analyst reports. Citigroup raised their price objective on Northrop Grumman from $587.00 to $591.00 and gave the company a "buy" rating in a research note on Monday, February 10th. Royal Bank of Canada raised their price target on Northrop Grumman from $500.00 to $540.00 and gave the stock a "sector perform" rating in a research report on Friday, October 25th. 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 price objective on the stock. Barclays lowered their target price on shares of Northrop Grumman from $550.00 to $500.00 and set an "equal weight" rating for the company in a report on Monday, January 6th. Finally, StockNews.com downgraded shares of Northrop Grumman from a "strong-buy" rating to a "buy" rating in a report on Monday, February 3rd. Nine research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, the stock 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.