Bahl & Gaynor Inc. Sells 1,904 Shares of Northrop Grumman Co. (NYSE:NOC)

Bahl & Gaynor Inc. decreased its position in shares of Northrop Grumman Co. (NYSE:NOC - Free Report) by 1.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 143,922 shares of the aerospace company's stock after selling 1,904 shares during the quarter. Bahl & Gaynor Inc. owned about 0.10% of Northrop Grumman worth $67,541,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Wellington Management Group LLP lifted its stake in Northrop Grumman by 0.4% in the third quarter. Wellington Management Group LLP now owns 4,140,892 shares of the aerospace company's stock valued at $2,186,681,000 after buying an additional 17,596 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of Northrop Grumman by 0.6% in the third quarter. Geode Capital Management LLC now owns 3,003,360 shares of the aerospace company's stock valued at $1,581,644,000 after purchasing an additional 18,791 shares during the last quarter. Franklin Resources Inc. raised its holdings in shares of Northrop Grumman by 6.2% in the third quarter. Franklin Resources Inc. now owns 2,426,270 shares of the aerospace company's stock valued at $1,315,729,000 after purchasing an additional 141,816 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in Northrop Grumman by 2.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 832,463 shares of the aerospace company's stock worth $390,667,000 after buying an additional 23,018 shares during the last quarter. Finally, Two Sigma Advisers LP increased its holdings in Northrop Grumman by 102.6% during the third quarter. Two Sigma Advisers LP now owns 735,600 shares of the aerospace company's stock worth $388,448,000 after buying an additional 372,500 shares during the last quarter. Institutional investors own 83.40% of the company's stock.

Northrop Grumman Stock Performance

NOC traded down $9.08 during trading hours on Tuesday, hitting $464.34. The stock had a trading volume of 1,335,710 shares, compared to its average volume of 990,335. Northrop Grumman Co. has a 1 year low of $418.60 and a 1 year high of $555.57. The company's fifty day simple moving average is $469.43 and its 200 day simple moving average is $495.61. 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 $67.22 billion, a PE ratio of 16.38, a price-to-earnings-growth ratio of 3.73 and a beta of 0.35.

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 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 analysts anticipate that Northrop Grumman Co. will post 28.05 earnings per share for the current year.

Northrop Grumman announced that its Board of Directors has authorized a stock buyback plan on Wednesday, December 11th that authorizes the company to repurchase $3.00 billion in shares. This repurchase authorization authorizes the aerospace company to reacquire 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 will be paid on Wednesday, March 19th. Stockholders of record on Monday, March 3rd will be given a dividend of $2.06 per share. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $8.24 dividend on an annualized basis and a dividend yield of 1.77%. Northrop Grumman's dividend payout ratio (DPR) is presently 29.08%.

Insider Activity

In other Northrop Grumman news, VP Benjamin R. Davies sold 464 shares of the company's stock in a transaction that occurred on Friday, February 28th. The stock was 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 owns 245 shares of the company's stock, valued at $112,883.75. This represents a 65.44 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In the last 90 days, insiders sold 755 shares of company stock worth $342,972. 0.22% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several equities analysts have 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 objective on the stock. Citigroup upped their price objective on shares of Northrop Grumman from $587.00 to $591.00 and gave the stock a "buy" rating in a research report on Monday, February 10th. Wolfe Research raised shares of Northrop Grumman from an "underperform" rating to a "peer perform" rating in a research report on Monday, February 3rd. Wells Fargo & Company lowered their target price on Northrop Grumman from $574.00 to $545.00 and set an "overweight" rating for the company in a research note on Wednesday, February 26th. Finally, Argus raised Northrop Grumman to a "strong-buy" rating in a research note on Wednesday, February 26th. Nine equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $542.75.

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.