Royal London Asset Management Ltd. Lowers Holdings in Northrop Grumman Co. (NYSE:NOC)

Royal London Asset Management Ltd. lessened its holdings in Northrop Grumman Co. (NYSE:NOC - Free Report) by 2.5% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 116,335 shares of the aerospace company's stock after selling 3,029 shares during the period. Royal London Asset Management Ltd. owned 0.08% of Northrop Grumman worth $54,595,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in NOC. Two Sigma Advisers LP boosted its stake in Northrop Grumman by 102.6% in 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 in the last quarter. Raymond James Financial Inc. purchased a new stake in shares of Northrop Grumman in the 4th quarter valued at $171,580,000. Proficio Capital Partners LLC bought a new position in shares of Northrop Grumman during the 4th quarter valued at $94,370,000. Franklin Resources Inc. raised its position in Northrop Grumman by 6.2% in the 3rd quarter. Franklin Resources Inc. now owns 2,426,270 shares of the aerospace company's stock worth $1,315,729,000 after purchasing an additional 141,816 shares during the period. Finally, Wedge Capital Management L L P NC bought a new stake in Northrop Grumman in the fourth quarter worth $66,171,000. Institutional investors own 83.40% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. Wells Fargo & Company boosted their target price on Northrop Grumman from $545.00 to $547.00 and gave the company an "overweight" rating in a research note on Friday, March 7th. Argus upgraded Northrop Grumman to a "strong-buy" rating in a research report on Wednesday, February 26th. Truist Financial started coverage on Northrop Grumman in a research note on Tuesday, January 14th. They set a "buy" rating and a $544.00 price objective for the company. Susquehanna decreased their target price on shares of Northrop Grumman from $625.00 to $557.00 and set a "positive" rating on the stock in a research note on Wednesday, January 8th. Finally, Wolfe Research raised shares of Northrop Grumman from an "underperform" rating to a "peer perform" rating in a research report on Monday, February 3rd. Nine research analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $542.88.

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Northrop Grumman Trading Up 2.4 %

NYSE:NOC traded up $11.80 during mid-day trading on Tuesday, hitting $506.88. 991,376 shares of the stock traded hands, compared to its average volume of 829,560. The company has a quick ratio of 0.91, a current ratio of 1.01 and a debt-to-equity ratio of 0.96. Northrop Grumman Co. has a 52 week low of $418.60 and a 52 week high of $555.57. The stock has a market capitalization of $73.37 billion, a price-to-earnings ratio of 17.89, a PEG ratio of 3.73 and a beta of 0.31. The firm's 50 day moving average is $475.62 and its two-hundred day moving average is $492.94.

Northrop Grumman (NYSE:NOC - Get Free Report) last posted its quarterly earnings results 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, equities research analysts predict that Northrop Grumman Co. will post 28.05 earnings per share for the current year.

Northrop Grumman Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 19th. Stockholders of record on Monday, March 3rd were given a $2.06 dividend. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $8.24 annualized dividend and a dividend yield of 1.63%. Northrop Grumman's payout ratio is presently 29.08%.

Northrop Grumman announced that its board has approved a stock buyback program on Wednesday, December 11th that authorizes the company to buyback $3.00 billion in shares. This buyback authorization authorizes the aerospace company to purchase up to 4.3% of its stock through open market purchases. Stock buyback programs are typically a sign that the company's management believes its stock is undervalued.

Insider Activity

In related news, VP Benjamin R. Davies sold 464 shares of the company's stock in a transaction on Friday, February 28th. The stock was sold at an average price of $460.75, for a total transaction of $213,788.00. Following the completion of the sale, the vice president now directly owns 245 shares in the company, valued at $112,883.75. This represents a 65.44 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Kathy J. Warden sold 3,750 shares of the stock in a transaction dated 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 sale, the chief executive officer now directly owns 212,852 shares of the company's stock, valued at approximately $101,243,053.80. The trade was a 1.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 4,505 shares of company stock worth $2,126,405. Corporate insiders own 0.22% of the company's stock.

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.