Rhumbline Advisers Has $116.22 Million Holdings in Northrop Grumman Co. (NYSE:NOC)

Rhumbline Advisers cut its stake in Northrop Grumman Co. (NYSE:NOC - Free Report) by 1.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 247,656 shares of the aerospace company's stock after selling 2,486 shares during the period. Rhumbline Advisers owned approximately 0.17% of Northrop Grumman worth $116,222,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of NOC. Foundations Investment Advisors LLC lifted its position in Northrop Grumman by 1.4% during the third quarter. Foundations Investment Advisors LLC now owns 1,478 shares of the aerospace company's stock worth $780,000 after buying an additional 20 shares during the period. PBMares Wealth Management LLC boosted its holdings in Northrop Grumman by 0.5% in the third quarter. PBMares Wealth Management LLC now owns 4,421 shares of the aerospace company's stock valued at $2,335,000 after acquiring an additional 20 shares during the last quarter. Hudson Valley Investment Advisors Inc. ADV grew its position in Northrop Grumman by 0.9% during the third quarter. Hudson Valley Investment Advisors Inc. ADV now owns 2,262 shares of the aerospace company's stock valued at $1,194,000 after acquiring an additional 20 shares during the period. Meeder Advisory Services Inc. lifted its stake in shares of Northrop Grumman by 0.9% in the 3rd quarter. Meeder Advisory Services Inc. now owns 2,288 shares of the aerospace company's stock valued at $1,208,000 after purchasing an additional 20 shares in the last quarter. Finally, Frank Rimerman Advisors LLC grew its holdings in shares of Northrop Grumman by 1.1% during the 3rd quarter. Frank Rimerman Advisors LLC now owns 1,937 shares of the aerospace company's stock worth $1,023,000 after purchasing an additional 21 shares during the period. 83.40% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have commented on NOC shares. UBS Group cut their price objective on Northrop Grumman from $579.00 to $558.00 and set a "buy" rating on the stock in a research report on Friday, January 31st. Truist Financial started coverage on shares of Northrop Grumman in a research note on Tuesday, January 14th. They set a "buy" rating and a $544.00 price objective on the stock. Barclays dropped their price target on shares of Northrop Grumman from $550.00 to $500.00 and set an "equal weight" rating on the stock in a research note on Monday, January 6th. Royal Bank of Canada raised their price target on shares of Northrop Grumman from $500.00 to $540.00 and gave the stock a "sector perform" rating in a research report on Friday, October 25th. Finally, Susquehanna reduced their price target on shares of Northrop Grumman from $625.00 to $557.00 and set a "positive" rating on the stock in a research report on Wednesday, January 8th. Nine research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $544.56.

Northrop Grumman Trading Down 1.8 %

Shares of NYSE:NOC traded down $7.74 during midday trading on Wednesday, hitting $433.63. The company had a trading volume of 1,779,136 shares, compared to its average volume of 927,574. The company has a current ratio of 1.01, a quick ratio of 0.91 and a debt-to-equity ratio of 0.96. Northrop Grumman Co. has a 12 month low of $418.60 and a 12 month high of $555.57. The stock has a market cap of $62.77 billion, a price-to-earnings ratio of 15.30, a PEG ratio of 3.73 and a beta of 0.35. The firm has a fifty day simple moving average of $473.36 and a 200 day simple moving average of $498.62.

Northrop Grumman (NYSE:NOC - Get Free Report) last announced 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 net margin of 10.17% and a return on equity of 26.24%. On average, analysts predict that Northrop Grumman Co. will post 28.05 EPS for the current year.

Northrop Grumman announced that its board has initiated a share repurchase program on Wednesday, December 11th that authorizes the company to buyback $3.00 billion in shares. This buyback authorization authorizes the aerospace company to reacquire up to 4.3% of its stock through open market purchases. Stock buyback programs are often an indication that the company's board believes its stock is undervalued.

Northrop Grumman Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 19th. Stockholders of record on Monday, March 3rd will be given a $2.06 dividend. This represents a $8.24 dividend on an annualized basis and a dividend yield of 1.90%. The ex-dividend date of this dividend is Monday, March 3rd. Northrop Grumman's dividend payout ratio (DPR) is presently 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.