AustralianSuper Pty Ltd Sells 651 Shares of Northrop Grumman Co. (NYSE:NOC)

AustralianSuper Pty Ltd lessened its position in Northrop Grumman Co. (NYSE:NOC - Free Report) by 13.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,303 shares of the aerospace company's stock after selling 651 shares during the period. AustralianSuper Pty Ltd's holdings in Northrop Grumman were worth $2,019,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the company. Two Sigma Advisers LP raised its position in Northrop Grumman by 102.6% during 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. Franklin Resources Inc. raised its position in shares of Northrop Grumman by 6.2% during the third quarter. Franklin Resources Inc. now owns 2,426,270 shares of the aerospace company's stock worth $1,315,729,000 after acquiring an additional 141,816 shares during the last quarter. Wedge Capital Management L L P NC acquired a new position in shares of Northrop Grumman in the fourth quarter worth approximately $66,171,000. International Assets Investment Management LLC bought a new stake in Northrop Grumman in the fourth quarter valued at approximately $622,000. Finally, National Bank of Canada FI increased its position in Northrop Grumman by 154.7% during the 3rd quarter. National Bank of Canada FI now owns 157,601 shares of the aerospace company's stock valued at $83,224,000 after purchasing an additional 95,724 shares during the period. 83.40% of the stock is currently owned by institutional investors.

Northrop Grumman Stock Down 1.8 %

Shares of NYSE NOC traded down $7.74 during mid-day trading on Wednesday, reaching $433.63. 1,779,136 shares of the company's stock traded hands, compared to its average volume of 927,574. The company has a debt-to-equity ratio of 0.96, a current ratio of 1.01 and a quick ratio of 0.91. The business has a 50-day simple moving average of $473.36 and a 200 day simple moving average of $498.62. The stock has a market cap of $62.77 billion, a P/E ratio of 15.30, a PEG ratio of 3.73 and a beta of 0.35. Northrop Grumman Co. has a 1-year low of $418.60 and a 1-year high of $555.57.

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 (EPS) for the quarter, beating analysts' consensus estimates 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 expect that Northrop Grumman Co. will post 28.05 EPS for the current fiscal year.

Northrop Grumman declared that its board has initiated a share buyback program on Wednesday, December 11th that permits the company to buyback $3.00 billion in outstanding shares. This buyback authorization permits the aerospace company to repurchase up to 4.3% of its shares through open market purchases. Shares buyback programs are often a sign that the company's board of directors believes its shares are undervalued.

Northrop Grumman Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 19th. Investors of record on Monday, March 3rd will be given a $2.06 dividend. This represents a $8.24 dividend on an annualized basis and a yield of 1.90%. The ex-dividend date of this dividend is Monday, March 3rd. Northrop Grumman's payout ratio is currently 29.08%.

Analyst Ratings Changes

NOC has been the topic of a number of recent analyst reports. StockNews.com downgraded shares of Northrop Grumman from a "strong-buy" rating to a "buy" rating in a research report on Monday, February 3rd. Royal Bank of Canada upped their price target 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. Susquehanna lowered their price objective on Northrop Grumman from $625.00 to $557.00 and set a "positive" rating for the company in a research report on Wednesday, January 8th. Citigroup boosted 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. Finally, Truist Financial assumed coverage on Northrop Grumman in a research note on Tuesday, January 14th. They set a "buy" rating and a $544.00 target price for the company. Nine research 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 an average rating of "Moderate Buy" and a consensus price target of $544.56.

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.