Northrop Grumman Co. (NYSE:NOC) Shares Sold by Massachusetts Financial Services Co. MA

Massachusetts Financial Services Co. MA decreased its holdings in Northrop Grumman Co. (NYSE:NOC - Free Report) by 10.1% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,134,711 shares of the aerospace company's stock after selling 239,870 shares during the period. Massachusetts Financial Services Co. MA owned about 1.47% of Northrop Grumman worth $1,001,799,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. lifted its position in shares of Northrop Grumman by 0.5% during the fourth quarter. Vanguard Group Inc. now owns 12,677,781 shares of the aerospace company's stock valued at $5,949,556,000 after buying an additional 56,807 shares during the last quarter. Wellington Management Group LLP grew its stake in shares of Northrop Grumman by 0.6% during the fourth quarter. Wellington Management Group LLP now owns 4,164,700 shares of the aerospace company's stock worth $1,954,452,000 after acquiring an additional 23,808 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Northrop Grumman by 0.7% in the 4th quarter. Geode Capital Management LLC now owns 3,025,263 shares of the aerospace company's stock valued at $1,417,850,000 after acquiring an additional 21,903 shares during the period. Franklin Resources Inc. increased its holdings in Northrop Grumman by 4.4% in the 4th quarter. Franklin Resources Inc. now owns 2,533,378 shares of the aerospace company's stock worth $1,188,889,000 after buying an additional 107,108 shares during the period. Finally, Clearbridge Investments LLC grew its position in Northrop Grumman by 21.5% during the 4th quarter. Clearbridge Investments LLC now owns 967,335 shares of the aerospace company's stock worth $453,961,000 after purchasing an additional 170,976 shares during the period. Hedge funds and other institutional investors own 83.40% of the company's stock.

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Northrop Grumman Trading Up 0.6 %

Shares of NYSE NOC traded up $3.02 during midday trading on Thursday, reaching $515.20. 1,055,787 shares of the stock were exchanged, compared to its average volume of 865,709. 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 company has a market capitalization of $74.58 billion, a P/E ratio of 18.18, a P/E/G ratio of 3.73 and a beta of 0.31. The stock has a 50 day moving average price of $479.48 and a 200-day moving average price of $492.88. Northrop Grumman Co. has a 52-week low of $418.60 and a 52-week 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 earnings per share 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%. Equities research analysts expect that Northrop Grumman Co. will post 28.05 earnings per share for the current fiscal year.

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

Northrop Grumman Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 19th. Shareholders of record on Monday, March 3rd were issued a $2.06 dividend. This represents a $8.24 annualized dividend and a yield of 1.60%. The ex-dividend date of this dividend was Monday, March 3rd. Northrop Grumman's dividend payout ratio (DPR) is 29.08%.

Insider Activity

In related news, VP Benjamin R. Davies sold 464 shares of the business's stock in a transaction that occurred on Friday, February 28th. The shares were sold at an average price of $460.75, for a total value of $213,788.00. Following the completion of the sale, the vice president now directly owns 245 shares in the company, valued at approximately $112,883.75. The trade was a 65.44 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 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 transaction, the chief executive officer now directly owns 212,852 shares in the company, valued at approximately $101,243,053.80. This represents a 1.73 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 4,505 shares of company stock valued at $2,126,405 in the last 90 days. 0.22% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several research firms have issued reports on NOC. Susquehanna decreased their price objective on shares of Northrop Grumman from $625.00 to $557.00 and set a "positive" rating on the stock in a report on Wednesday, January 8th. Argus upgraded Northrop Grumman to a "strong-buy" rating in a report on Wednesday, February 26th. Barclays reduced their price target on Northrop Grumman from $550.00 to $500.00 and set an "equal weight" rating on the stock in a research report on Monday, January 6th. UBS Group lowered their target price on shares of Northrop Grumman from $579.00 to $558.00 and set a "buy" rating for the company in a report on Friday, January 31st. Finally, Wolfe Research raised Northrop Grumman from an "underperform" rating to a "peer perform" rating in a report on Monday, February 3rd. Eight research analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $545.06.

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.