Davis R M Inc. Buys 3,238 Shares of Northrop Grumman Co. (NYSE:NOC)

Davis R M Inc. grew its position in Northrop Grumman Co. (NYSE:NOC - Free Report) by 5.3% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 64,765 shares of the aerospace company's stock after buying an additional 3,238 shares during the quarter. Davis R M Inc.'s holdings in Northrop Grumman were worth $30,394,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Two Sigma Advisers LP increased its holdings in shares of Northrop Grumman by 102.6% during the third quarter. Two Sigma Advisers LP now owns 735,600 shares of the aerospace company's stock worth $388,448,000 after buying an additional 372,500 shares in the last quarter. Raymond James Financial Inc. bought a new position in shares of Northrop Grumman during the fourth quarter valued at $171,580,000. Proficio Capital Partners LLC acquired a new position in shares of Northrop Grumman during the fourth quarter worth $94,370,000. Franklin Resources Inc. grew its stake in shares of Northrop Grumman by 6.2% in the third quarter. Franklin Resources Inc. now owns 2,426,270 shares of the aerospace company's stock worth $1,315,729,000 after purchasing an additional 141,816 shares during the last quarter. Finally, Wedge Capital Management L L P NC bought a new position in shares of Northrop Grumman during the fourth quarter worth about $66,171,000. 83.40% of the stock is currently owned by institutional investors and hedge funds.

Northrop Grumman Trading Up 3.4 %

Shares of NOC stock traded up $16.10 during trading hours on Thursday, reaching $491.20. The company's stock had a trading volume of 1,330,480 shares, compared to its average volume of 822,288. Northrop Grumman Co. has a one year low of $418.60 and a one year high of $555.57. 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 firm's fifty day simple moving average is $471.57 and its 200 day simple moving average is $494.67. The stock has a market capitalization of $71.10 billion, a P/E ratio of 17.33, a P/E/G ratio of 3.73 and a beta of 0.31.

Remove Ads

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

Northrop Grumman announced that its board has initiated a stock buyback plan on Wednesday, December 11th that authorizes the company to buyback $3.00 billion in shares. This buyback authorization authorizes the aerospace company to buy up to 4.3% of its shares through open market purchases. Shares buyback plans are typically a sign that the company's board believes its stock is undervalued.

Northrop Grumman Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, March 19th. Shareholders of record on Monday, March 3rd will be paid a dividend of $2.06 per share. This represents a $8.24 annualized dividend and a yield of 1.68%. The ex-dividend date of this dividend is Monday, March 3rd. Northrop Grumman's dividend payout ratio is currently 29.08%.

Insider Activity

In other news, VP Benjamin R. Davies sold 464 shares of the company's stock in a transaction dated Friday, February 28th. The shares were sold at an average price of $460.75, for a total transaction of $213,788.00. Following the completion of the sale, the vice president now owns 245 shares of the company's stock, valued at $112,883.75. This represents a 65.44 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Kathy J. Warden sold 3,750 shares of the stock in a transaction that occurred 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 owns 212,852 shares in the company, valued at $101,243,053.80. This trade represents a 1.73 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 4,505 shares of company stock valued at $2,126,405 over the last three months. Insiders own 0.22% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on NOC shares. Truist Financial assumed coverage on Northrop Grumman in a research note on Tuesday, January 14th. They set a "buy" rating and a $544.00 price target on the stock. Susquehanna cut their price target on Northrop Grumman from $625.00 to $557.00 and set a "positive" rating for the company in a research note on Wednesday, January 8th. Citigroup increased their price objective on shares of Northrop Grumman from $587.00 to $591.00 and gave the company a "buy" rating in a research note on Monday, February 10th. UBS Group decreased their target price on Northrop Grumman from $579.00 to $558.00 and set a "buy" rating for the company in a research report on Friday, January 31st. Finally, Wolfe Research raised shares of Northrop Grumman from an "underperform" rating to a "peer perform" rating in a report on Monday, February 3rd. Nine equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $542.88.

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.