Northrop Grumman Co. (NYSE:NOC) Shares Sold by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D decreased its holdings in Northrop Grumman Co. (NYSE:NOC - Free Report) by 2.4% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 50,541 shares of the aerospace company's stock after selling 1,225 shares during the quarter. State of New Jersey Common Pension Fund D's holdings in Northrop Grumman were worth $23,718,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of the business. RPg Family Wealth Advisory LLC acquired a new stake in Northrop Grumman during the third quarter valued at approximately $31,000. Albion Financial Group UT acquired a new stake in Northrop Grumman during the fourth quarter valued at approximately $33,000. FSA Wealth Management LLC acquired a new stake in Northrop Grumman during the third quarter valued at approximately $36,000. Modus Advisors LLC acquired a new stake in Northrop Grumman during the fourth quarter valued at approximately $38,000. Finally, Catalyst Capital Advisors LLC acquired a new stake in Northrop Grumman during the third quarter valued at approximately $40,000. Institutional investors and hedge funds own 83.40% of the company's stock.

Northrop Grumman Stock Performance

NOC stock traded up $5.01 on Thursday, reaching $438.46. The company's stock had a trading volume of 1,218,796 shares, compared to its average volume of 936,566. Northrop Grumman Co. has a 52 week low of $418.60 and a 52 week high of $555.57. The company has a market capitalization of $63.47 billion, a P/E ratio of 15.47, a price-to-earnings-growth ratio of 3.76 and a beta of 0.35. The firm has a fifty day moving average of $472.52 and a two-hundred day moving average of $498.17. The company has a debt-to-equity ratio of 0.96, a current ratio of 1.01 and a quick ratio of 0.91.

Northrop Grumman (NYSE:NOC - Get Free Report) last issued its quarterly earnings results on Thursday, January 30th. The aerospace company reported $6.39 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $6.27 by $0.12. Northrop Grumman had a return on equity of 26.24% and a net margin of 10.17%. As a group, analysts predict that Northrop Grumman Co. will post 28.05 EPS for the current fiscal year.

Northrop Grumman Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, March 19th. Shareholders of record on Monday, March 3rd will be paid a dividend of $2.06 per share. This represents a $8.24 dividend on an annualized basis and a yield of 1.88%. The ex-dividend date of this dividend is Monday, March 3rd. Northrop Grumman's payout ratio is currently 29.08%.

Northrop Grumman declared that its Board of Directors has initiated a share repurchase plan on Wednesday, December 11th that permits the company to buyback $3.00 billion in shares. This buyback authorization permits the aerospace company to purchase up to 4.3% of its shares through open market purchases. Shares buyback plans are generally an indication that the company's board believes its stock is undervalued.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. Wolfe Research upgraded Northrop Grumman from an "underperform" rating to a "peer perform" rating in a research note on Monday, February 3rd. Wells Fargo & Company cut their price objective on Northrop Grumman from $595.00 to $574.00 and set an "overweight" rating on the stock in a research note on Friday, January 31st. Royal Bank of Canada upped their price objective on Northrop Grumman from $500.00 to $540.00 and gave the company a "sector perform" rating in a research note on Friday, October 25th. Truist Financial began coverage on Northrop Grumman in a report on Tuesday, January 14th. They set a "buy" rating and a $544.00 target price for the company. Finally, Susquehanna lowered their target price on Northrop Grumman from $625.00 to $557.00 and set a "positive" rating for the company in a report on Wednesday, January 8th. Nine investment 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 stock has an average rating of "Moderate Buy" and a consensus price target of $544.56.

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.