Franklin Resources Inc. Has $1.32 Billion Stake in Northrop Grumman Co. (NYSE:NOC)

Franklin Resources Inc. boosted its position in shares of Northrop Grumman Co. (NYSE:NOC - Free Report) by 6.2% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 2,426,270 shares of the aerospace company's stock after purchasing an additional 141,816 shares during the quarter. Franklin Resources Inc. owned about 1.67% of Northrop Grumman worth $1,315,729,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in the business. Wellington Management Group LLP raised its stake in shares of Northrop Grumman by 0.4% during the third quarter. Wellington Management Group LLP now owns 4,140,892 shares of the aerospace company's stock worth $2,186,681,000 after buying an additional 17,596 shares during the last quarter. Geode Capital Management LLC grew its holdings in Northrop Grumman by 0.6% during the 3rd quarter. Geode Capital Management LLC now owns 3,003,360 shares of the aerospace company's stock worth $1,581,644,000 after acquiring an additional 18,791 shares during the period. Legal & General Group Plc raised its position in shares of Northrop Grumman by 16.0% during the 2nd quarter. Legal & General Group Plc now owns 1,087,913 shares of the aerospace company's stock valued at $474,276,000 after acquiring an additional 150,367 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of Northrop Grumman by 0.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 809,445 shares of the aerospace company's stock valued at $427,444,000 after purchasing an additional 3,211 shares during the period. Finally, Two Sigma Advisers LP boosted its position in shares of Northrop Grumman by 102.6% in the 3rd quarter. Two Sigma Advisers LP now owns 735,600 shares of the aerospace company's stock worth $388,448,000 after purchasing an additional 372,500 shares during the last quarter. 83.40% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have weighed in on NOC shares. Royal Bank of Canada increased their target price on Northrop Grumman from $500.00 to $540.00 and gave the company a "sector perform" rating in a research note on Friday, October 25th. Wells Fargo & Company cut their price target on shares of Northrop Grumman from $565.00 to $505.00 and set an "equal weight" rating on the stock in a research report on Wednesday. StockNews.com upgraded shares of Northrop Grumman from a "buy" rating to a "strong-buy" rating in a report on Friday, December 6th. UBS Group lifted their price target on shares of Northrop Grumman from $614.00 to $643.00 and gave the stock a "buy" rating in a research report on Friday, October 25th. Finally, Susquehanna boosted their price target on shares of Northrop Grumman from $560.00 to $625.00 and gave the company a "positive" rating in a report on Friday, October 25th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Hold" and an average price target of $546.81.

Insider Activity

In related news, VP Benjamin R. Davies sold 1,156 shares of the firm's stock in a transaction on Monday, November 11th. The shares were sold at an average price of $532.93, for a total value of $616,067.08. Following the completion of the transaction, the vice president now directly owns 537 shares of the company's stock, valued at approximately $286,183.41. This trade represents a 68.28 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders sold 1,255 shares of company stock worth $666,461 in the last quarter. Corporate insiders own 0.22% of the company's stock.

Northrop Grumman Stock Down 0.3 %

Shares of NYSE:NOC traded down $1.51 during mid-day trading on Friday, reaching $480.00. 636,625 shares of the stock were exchanged, compared to its average volume of 861,471. Northrop Grumman Co. has a one year low of $418.60 and a one year high of $555.57. The company has a quick ratio of 0.97, a current ratio of 1.09 and a debt-to-equity ratio of 1.00. The stock's 50 day simple moving average is $507.90 and its 200-day simple moving average is $487.88. The company has a market cap of $69.94 billion, a P/E ratio of 29.83, a P/E/G ratio of 0.96 and a beta of 0.33.

Northrop Grumman (NYSE:NOC - Get Free Report) last announced its quarterly earnings data on Thursday, October 24th. The aerospace company reported $7.00 EPS for the quarter, topping analysts' consensus estimates of $6.07 by $0.93. The business had revenue of $10 billion for the quarter, compared to analyst estimates of $10.18 billion. Northrop Grumman had a net margin of 5.79% and a return on equity of 26.57%. The firm's revenue for the quarter was up 2.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $6.18 earnings per share. As a group, equities research analysts predict that Northrop Grumman Co. will post 25.93 EPS for the current year.

Northrop Grumman Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 18th. Stockholders of record on Monday, December 2nd will be issued a $2.06 dividend. This represents a $8.24 annualized dividend and a dividend yield of 1.72%. The ex-dividend date of this dividend is Monday, December 2nd. Northrop Grumman's payout ratio is 51.05%.

Northrop Grumman declared that its Board of Directors has approved a share repurchase plan on Wednesday, December 11th that permits the company to repurchase $3.00 billion in shares. This repurchase authorization permits the aerospace company to buy up to 4.3% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company's board of directors believes its stock is undervalued.

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.