Prudential PLC Grows Stock Position in Northrop Grumman Co. (NYSE:NOC)

Prudential PLC raised its position in shares of Northrop Grumman Co. (NYSE:NOC - Free Report) by 15.7% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 10,755 shares of the aerospace company's stock after buying an additional 1,459 shares during the quarter. Prudential PLC's holdings in Northrop Grumman were worth $5,047,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Whipplewood Advisors LLC acquired a new stake in Northrop Grumman in the fourth quarter valued at approximately $31,000. Albion Financial Group UT purchased a new stake in shares of Northrop Grumman during the 4th quarter valued at $33,000. Modus Advisors LLC purchased a new stake in shares of Northrop Grumman during the 4th quarter valued at $38,000. Stonebridge Financial Group LLC acquired a new stake in shares of Northrop Grumman in the 4th quarter worth $42,000. Finally, Rakuten Securities Inc. grew its stake in Northrop Grumman by 291.7% during the 4th quarter. Rakuten Securities Inc. now owns 94 shares of the aerospace company's stock worth $44,000 after buying an additional 70 shares during the last quarter. 83.40% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, VP Benjamin R. Davies sold 464 shares of Northrop Grumman stock in a transaction 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 sale, the vice president now owns 245 shares of the company's stock, valued at approximately $112,883.75. This trade represents a 65.44 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Kathy J. Warden sold 3,750 shares of the company's stock in a transaction 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 owns 212,852 shares of the company's stock, valued at $101,243,053.80. This represents a 1.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 4,505 shares of company stock worth $2,127,182. Company insiders own 0.22% of the company's stock.

Remove Ads

Analysts Set New Price Targets

A number of equities research analysts have commented on the company. Royal Bank of Canada upgraded 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 research note on Thursday, March 27th. The Goldman Sachs Group raised shares of Northrop Grumman from a "sell" rating to a "neutral" rating and increased their price objective for the company from $424.00 to $521.00 in a research report on Friday. Argus raised shares of Northrop Grumman to a "strong-buy" rating in a research report on Wednesday, February 26th. Truist Financial initiated coverage on shares of Northrop Grumman in a research note on Tuesday, January 14th. They set a "buy" rating and a $544.00 price target on the stock. Finally, Citigroup lifted 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. Nine investment 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 company's stock. Based on data from MarketBeat, Northrop Grumman currently has a consensus rating of "Moderate Buy" and a consensus target price of $543.65.

Northrop Grumman Stock Performance

Northrop Grumman stock traded up $18.05 during midday trading on Friday, hitting $534.14. 1,178,801 shares of the company were exchanged, compared to its average volume of 869,500. Northrop Grumman Co. has a fifty-two week low of $418.60 and a fifty-two week high of $555.57. The firm has a market capitalization of $76.99 billion, a PE ratio of 18.85, a price-to-earnings-growth ratio of 3.73 and a beta of 0.20. The business has a fifty day simple moving average of $481.83 and a two-hundred day simple moving average of $491.66. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.91 and a current ratio of 1.01.

Northrop Grumman (NYSE:NOC - Get Free Report) last issued its quarterly earnings data 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%. On average, sell-side analysts forecast that Northrop Grumman Co. will post 28.05 earnings per share for the current year.

Northrop Grumman Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 19th. Shareholders of record on Monday, March 3rd were given a $2.06 dividend. The ex-dividend date was Monday, March 3rd. This represents a $8.24 dividend on an annualized basis and a dividend yield of 1.54%. Northrop Grumman's dividend payout ratio (DPR) is currently 29.08%.

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.