Clearbridge Investments LLC Raises Position in Northrop Grumman Co. (NYSE:NOC)

Clearbridge Investments LLC grew its stake in shares of Northrop Grumman Co. (NYSE:NOC - Free Report) by 21.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 967,335 shares of the aerospace company's stock after buying an additional 170,976 shares during the period. Clearbridge Investments LLC owned 0.67% of Northrop Grumman worth $453,961,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also bought and sold shares of the company. Townsquare Capital LLC grew its holdings in Northrop Grumman by 75.6% during the 3rd quarter. Townsquare Capital LLC now owns 5,390 shares of the aerospace company's stock valued at $2,847,000 after buying an additional 2,320 shares in the last quarter. Glenmede Trust Co. NA grew its holdings in shares of Northrop Grumman by 7.8% in the third quarter. Glenmede Trust Co. NA now owns 17,386 shares of the aerospace company's stock valued at $9,181,000 after purchasing an additional 1,253 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund bought a new stake in Northrop Grumman in the third quarter worth $1,056,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in Northrop Grumman by 15.3% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 572,451 shares of the aerospace company's stock valued at $302,294,000 after purchasing an additional 75,921 shares in the last quarter. Finally, Public Sector Pension Investment Board lifted its position in Northrop Grumman by 7.7% during the third quarter. Public Sector Pension Investment Board now owns 5,567 shares of the aerospace company's stock valued at $2,940,000 after purchasing an additional 400 shares during the last quarter. Hedge funds and other institutional investors own 83.40% of the company's stock.

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Insiders Place Their Bets

In other Northrop Grumman news, CEO Kathy J. Warden sold 3,750 shares of the company's stock in a transaction that occurred on Thursday, March 6th. The shares were 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 owns 212,852 shares in the company, valued at approximately $101,243,053.80. This represents a 1.73 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, VP Benjamin R. Davies sold 192 shares of Northrop Grumman stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $429.08, for a total transaction of $82,383.36. Following the sale, the vice president now owns 709 shares of the company's stock, valued at $304,217.72. The trade was a 21.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 4,505 shares of company stock valued at $2,126,405. 0.22% of the stock is currently owned by insiders.

Northrop Grumman Stock Up 1.3 %

NYSE:NOC traded up $6.74 during mid-day trading on Thursday, reaching $518.92. The company's stock had a trading volume of 509,109 shares, compared to its average volume of 865,224. 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 firm has a market capitalization of $75.12 billion, a PE ratio of 18.31, a price-to-earnings-growth ratio of 3.73 and a beta of 0.31. The stock has a fifty day moving average of $479.17 and a 200-day moving average of $492.73. 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 data 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 net margin of 10.17% and a return on equity of 26.24%. Equities research analysts forecast that Northrop Grumman Co. will post 28.05 earnings per share for the current year.

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

Northrop Grumman Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 19th. Stockholders of record on Monday, March 3rd were issued a $2.06 dividend. This represents a $8.24 dividend on an annualized basis and a dividend yield of 1.59%. The ex-dividend date of this dividend was Monday, March 3rd. Northrop Grumman's dividend payout ratio is currently 29.08%.

Analyst Ratings Changes

A number of research analysts recently commented on NOC shares. Royal Bank of Canada raised shares of Northrop Grumman from a "sector perform" rating to an "outperform" rating and increased their price target for the company from $500.00 to $575.00 in a report on Thursday, March 27th. Truist Financial began coverage on Northrop Grumman in a research report on Tuesday, January 14th. They issued a "buy" rating and a $544.00 price target for the company. UBS Group reduced their target price on shares of Northrop Grumman from $579.00 to $558.00 and set a "buy" rating on the stock in a research note on Friday, January 31st. Argus upgraded shares of Northrop Grumman to a "strong-buy" rating in a report on Wednesday, February 26th. Finally, Citigroup raised their price objective on shares of Northrop Grumman from $587.00 to $591.00 and gave the stock a "buy" rating in a research note on Monday, February 10th. Eight research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $545.06.

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.