Pacer Advisors Inc. Acquires 4,477 Shares of Northrop Grumman Co. (NYSE:NOC)

Pacer Advisors Inc. grew its position in Northrop Grumman Co. (NYSE:NOC - Free Report) by 43.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 14,727 shares of the aerospace company's stock after acquiring an additional 4,477 shares during the period. Pacer Advisors Inc.'s holdings in Northrop Grumman were worth $6,911,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the business. Blue Trust Inc. raised its position in Northrop Grumman by 2.7% in the 4th quarter. Blue Trust Inc. now owns 3,669 shares of the aerospace company's stock valued at $1,722,000 after purchasing an additional 96 shares during the last quarter. Narwhal Capital Management grew its holdings in Northrop Grumman by 0.6% during the 4th quarter. Narwhal Capital Management now owns 18,937 shares of the aerospace company's stock worth $8,887,000 after acquiring an additional 119 shares during the last quarter. Asio Capital LLC increased its position in Northrop Grumman by 0.6% in the 4th quarter. Asio Capital LLC now owns 6,228 shares of the aerospace company's stock valued at $2,923,000 after acquiring an additional 35 shares in the last quarter. Grimes & Company Inc. raised its stake in shares of Northrop Grumman by 68.8% in the fourth quarter. Grimes & Company Inc. now owns 932 shares of the aerospace company's stock worth $437,000 after acquiring an additional 380 shares during the last quarter. Finally, Cyndeo Wealth Partners LLC lifted its position in shares of Northrop Grumman by 5.4% during the fourth quarter. Cyndeo Wealth Partners LLC now owns 978 shares of the aerospace company's stock worth $459,000 after purchasing an additional 50 shares in the last quarter. 83.40% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, VP Benjamin R. Davies sold 1,156 shares of the business's stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $532.93, for a total value of $616,067.08. Following the completion of the sale, the vice president now directly owns 537 shares in the company, valued at approximately $286,183.41. The trade was a 68.28 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Insiders have sold a total of 1,255 shares of company stock worth $663,859 in the last quarter. Corporate insiders own 0.22% of the company's stock.

Northrop Grumman Stock Up 0.4 %

Shares of NYSE NOC traded up $2.16 during midday trading on Thursday, reaching $483.70. The company's stock had a trading volume of 1,468,333 shares, compared to its average volume of 874,810. The stock has a 50 day simple moving average of $478.66 and a 200-day simple moving average of $497.63. The company has a current ratio of 1.09, a quick ratio of 0.97 and a debt-to-equity ratio of 1.00. The stock has a market capitalization of $70.48 billion, a price-to-earnings ratio of 29.97, a PEG ratio of 0.95 and a beta of 0.35. Northrop Grumman Co. has a fifty-two week low of $418.60 and a fifty-two 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 EPS for the quarter, topping the consensus estimate of $6.27 by $0.12. Northrop Grumman had a net margin of 5.79% and a return on equity of 26.57%. Equities research analysts predict that Northrop Grumman Co. will post 25.96 earnings per share for the current year.

Northrop Grumman declared that its board has approved a share 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 buy up to 4.3% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company's leadership believes its shares are undervalued.

Northrop Grumman Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, December 18th. Shareholders of record on Monday, December 2nd were issued a $2.06 dividend. This represents a $8.24 dividend on an annualized basis and a yield of 1.70%. The ex-dividend date was Monday, December 2nd. Northrop Grumman's dividend payout ratio is currently 51.05%.

Analysts Set New Price Targets

Several research firms recently weighed in on NOC. TD Cowen upgraded shares of Northrop Grumman to a "hold" rating in a research report on Tuesday, October 8th. Truist Financial began coverage on Northrop Grumman in a research note on Tuesday, January 14th. They set a "buy" rating and a $544.00 price target on the stock. Citigroup upgraded Northrop Grumman from a "neutral" rating to a "buy" rating and set a $587.00 price objective for the company in a research report on Tuesday, January 21st. StockNews.com upgraded shares of Northrop Grumman from a "buy" rating to a "strong-buy" rating in a research report on Sunday, January 19th. Finally, UBS Group raised their price target on Northrop Grumman from $614.00 to $643.00 and gave the stock a "buy" rating in a research report on Friday, October 25th. Eight research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Northrop Grumman presently has an average rating of "Moderate Buy" and a consensus target price of $550.94.

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.