Northrop Grumman Co. (NYSE:NOC) Shares Sold by Maryland State Retirement & Pension System

Maryland State Retirement & Pension System lessened its stake in Northrop Grumman Co. (NYSE:NOC - Free Report) by 7.6% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 7,368 shares of the aerospace company's stock after selling 610 shares during the quarter. Maryland State Retirement & Pension System's holdings in Northrop Grumman were worth $3,458,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of the stock. RPg Family Wealth Advisory LLC acquired a new position in Northrop Grumman in the third quarter valued at approximately $31,000. Whipplewood Advisors LLC acquired a new position in shares of Northrop Grumman in the 4th quarter valued at $31,000. Albion Financial Group UT purchased a new stake in Northrop Grumman during the fourth quarter worth $33,000. FSA Wealth Management LLC acquired a new stake in Northrop Grumman during the third quarter valued at $36,000. Finally, Modus Advisors LLC purchased a new position in Northrop Grumman in the fourth quarter valued at $38,000. Hedge funds and other institutional investors own 83.40% of the company's stock.

Northrop Grumman Trading Up 0.9 %

Shares of NOC traded up $4.53 during midday trading on Monday, reaching $495.25. The company had a trading volume of 626,690 shares, compared to its average volume of 829,626. The firm has a 50 day simple moving average of $475.18 and a 200-day simple moving average of $493.11. The company has a quick ratio of 0.91, a current ratio of 1.01 and a debt-to-equity ratio of 0.96. The stock has a market cap of $71.69 billion, a PE ratio of 17.48, a price-to-earnings-growth ratio of 3.73 and a beta of 0.31. Northrop Grumman Co. has a 1-year low of $418.60 and a 1-year high of $555.57.

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Northrop Grumman (NYSE:NOC - Get Free Report) last issued its earnings results on Thursday, January 30th. The aerospace company reported $6.39 EPS for the quarter, topping 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%. Research analysts forecast that Northrop Grumman Co. will post 28.05 EPS for the current fiscal year.

Northrop Grumman Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 19th. Shareholders of record on Monday, March 3rd were paid a dividend of $2.06 per share. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $8.24 annualized dividend and a yield of 1.66%. Northrop Grumman's dividend payout ratio (DPR) is 29.08%.

Northrop Grumman declared that its board has authorized a stock 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 repurchase 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.

Analyst Ratings Changes

NOC has been the topic of a number of analyst reports. StockNews.com cut Northrop Grumman from a "strong-buy" rating to a "buy" rating in a research report on Monday, February 3rd. Wolfe Research upgraded Northrop Grumman from an "underperform" rating to a "peer perform" rating in a research report on Monday, February 3rd. Citigroup increased their target price on Northrop Grumman from $587.00 to $591.00 and gave the company a "buy" rating in a research report on Monday, February 10th. Susquehanna reduced their price objective on shares of Northrop Grumman from $625.00 to $557.00 and set a "positive" rating for the company in a research report on Wednesday, January 8th. Finally, Truist Financial started coverage on shares of Northrop Grumman in a research report on Tuesday, January 14th. They issued a "buy" rating and a $544.00 target price on the stock. Nine research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $542.88.

Insider Buying and Selling at Northrop Grumman

In other Northrop Grumman news, VP Benjamin R. Davies sold 464 shares of the company's stock in a transaction on Friday, February 28th. The stock was sold at an average price of $460.75, for a total transaction of $213,788.00. Following the transaction, the vice president now directly owns 245 shares in the company, valued at $112,883.75. This represents a 65.44 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Kathy J. Warden sold 3,750 shares of Northrop Grumman stock in a transaction on Thursday, March 6th. The shares were sold at an average price of $475.65, for a total value of $1,783,687.50. Following the completion of the sale, the chief executive officer now directly owns 212,852 shares of the company's stock, valued at $101,243,053.80. The trade was a 1.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 4,505 shares of company stock worth $2,126,405 over the last quarter. 0.22% of the stock is currently owned by company insiders.

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.