Northrop Grumman Co. (NYSE:NOC) Shares Acquired by Lockheed Martin Investment Management Co.

Lockheed Martin Investment Management Co. boosted its stake in shares of Northrop Grumman Co. (NYSE:NOC - Free Report) by 19.9% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 16,660 shares of the aerospace company's stock after purchasing an additional 2,770 shares during the quarter. Lockheed Martin Investment Management Co.'s holdings in Northrop Grumman were worth $7,818,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in NOC. Czech National Bank boosted its holdings in Northrop Grumman by 5.6% during the third quarter. Czech National Bank now owns 28,004 shares of the aerospace company's stock valued at $14,788,000 after acquiring an additional 1,495 shares during the period. GAMMA Investing LLC grew its holdings in Northrop Grumman by 24.1% in the 3rd quarter. GAMMA Investing LLC now owns 2,789 shares of the aerospace company's stock valued at $1,473,000 after buying an additional 541 shares during the last quarter. Diversified Trust Co increased its position in Northrop Grumman by 2.8% in the 3rd quarter. Diversified Trust Co now owns 2,016 shares of the aerospace company's stock worth $1,065,000 after buying an additional 54 shares during the period. Everpar Advisors LLC acquired a new position in shares of Northrop Grumman during the third quarter worth approximately $223,000. Finally, Aprio Wealth Management LLC bought a new stake in shares of Northrop Grumman in the third quarter valued at approximately $210,000. Institutional investors and hedge funds own 83.40% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on NOC shares. Truist Financial started coverage on shares of Northrop Grumman in a report on Tuesday, January 14th. They issued a "buy" rating and a $544.00 price target for the company. Wells Fargo & Company decreased their target price on Northrop Grumman from $595.00 to $574.00 and set an "overweight" rating on the stock in a research report on Friday, January 31st. Citigroup upgraded Northrop Grumman from a "neutral" rating to a "buy" rating and set a $587.00 price objective for the company in a research report on Tuesday, January 21st. TD Cowen upgraded Northrop Grumman to a "hold" rating in a research report on Tuesday, October 8th. Finally, Royal Bank of Canada lifted their target price on shares of Northrop Grumman from $500.00 to $540.00 and gave the company a "sector perform" rating in a research report on Friday, October 25th. Nine investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, Northrop Grumman currently has a consensus rating of "Moderate Buy" and an average price target of $544.31.

Northrop Grumman Stock Down 2.3 %

Shares of NOC traded down $11.22 during midday trading on Wednesday, hitting $471.17. The stock had a trading volume of 1,079,951 shares, compared to its average volume of 860,284. The firm has a market cap of $68.20 billion, a price-to-earnings ratio of 16.63, a price-to-earnings-growth ratio of 0.91 and a beta of 0.35. The company has a 50 day simple moving average of $478.14 and a two-hundred day simple moving average of $499.42. The company has a debt-to-equity ratio of 0.96, a current ratio of 1.01 and a quick ratio of 0.91. Northrop Grumman Co. has a twelve month low of $418.60 and a twelve month high of $555.57.

Northrop Grumman (NYSE:NOC - Get Free Report) last issued its quarterly earnings results on Thursday, January 30th. The aerospace company reported $6.39 EPS for the quarter, beating the consensus estimate 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, analysts anticipate that Northrop Grumman Co. will post 28.04 EPS for the current year.

Northrop Grumman Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, December 18th. Stockholders of record on Monday, December 2nd were issued a $2.06 dividend. The ex-dividend date of this dividend was Monday, December 2nd. This represents a $8.24 dividend on an annualized basis and a dividend yield of 1.75%. Northrop Grumman's payout ratio is 29.08%.

Northrop Grumman declared that its Board of Directors has approved a share buyback program on Wednesday, December 11th that authorizes the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization authorizes the aerospace company to buy up to 4.3% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company's board believes its shares are undervalued.

Insider Activity at Northrop Grumman

In other Northrop Grumman news, VP Benjamin R. Davies sold 1,156 shares of the stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $532.93, for a total value of $616,067.08. Following the transaction, the vice president now directly owns 537 shares of the company's stock, valued at $286,183.41. This represents a 68.28 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In the last ninety days, insiders sold 1,222 shares of company stock worth $647,025. Insiders own 0.22% of the company's stock.

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.