Teacher Retirement System of Texas Has $73.28 Million Holdings in Northrop Grumman Co. (NYSE:NOC)

Teacher Retirement System of Texas boosted its holdings in Northrop Grumman Co. (NYSE:NOC - Free Report) by 74.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 156,149 shares of the aerospace company's stock after acquiring an additional 66,638 shares during the quarter. Teacher Retirement System of Texas owned about 0.11% of Northrop Grumman worth $73,279,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Pathstone Holdings LLC increased its position in shares of Northrop Grumman by 11.0% in the third quarter. Pathstone Holdings LLC now owns 18,562 shares of the aerospace company's stock worth $9,802,000 after acquiring an additional 1,844 shares in the last quarter. Prospera Private Wealth LLC purchased a new position in Northrop Grumman during the 3rd quarter valued at about $1,647,000. Commerce Bank increased its holdings in shares of Northrop Grumman by 1.0% in the 3rd quarter. Commerce Bank now owns 88,696 shares of the aerospace company's stock valued at $46,838,000 after purchasing an additional 895 shares during the period. Kirtland Hills Capital Management LLC lifted its position in shares of Northrop Grumman by 59.5% in the third quarter. Kirtland Hills Capital Management LLC now owns 1,348 shares of the aerospace company's stock worth $712,000 after purchasing an additional 503 shares in the last quarter. Finally, NS Partners Ltd lifted its position in shares of Northrop Grumman by 1.8% in the third quarter. NS Partners Ltd now owns 33,667 shares of the aerospace company's stock worth $17,779,000 after purchasing an additional 583 shares in the last quarter. 83.40% of the stock is owned by institutional investors and hedge funds.

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Analyst Upgrades and Downgrades

Several research analysts have weighed in on NOC shares. UBS Group dropped their price objective on shares of Northrop Grumman from $579.00 to $558.00 and set a "buy" rating on the stock in a research note on Friday, January 31st. Barclays cut their price objective on Northrop Grumman from $550.00 to $500.00 and set an "equal weight" rating for the company in a report on Monday, January 6th. 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. Wolfe Research raised Northrop Grumman from an "underperform" rating to a "peer perform" rating in a research note on Monday, February 3rd. Finally, Citigroup lifted their price target on Northrop Grumman from $587.00 to $591.00 and gave the company a "buy" rating in a report on Monday, February 10th. Nine research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $542.88.

Insider Transactions at Northrop Grumman

In other news, CEO Kathy J. Warden sold 3,750 shares of Northrop Grumman stock in a transaction that occurred 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 sale, the chief executive officer now owns 212,852 shares of the company's stock, valued at approximately $101,243,053.80. This trade represents a 1.73 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Benjamin R. Davies sold 464 shares of Northrop Grumman 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 sale, the vice president now owns 245 shares in the company, valued at $112,883.75. This represents a 65.44 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 4,505 shares of company stock worth $2,126,405. 0.22% of the stock is currently owned by company insiders.

Northrop Grumman Stock Performance

Shares of Northrop Grumman stock traded up $4.53 during trading on Monday, reaching $495.25. The company's stock had a trading volume of 626,690 shares, compared to its average volume of 829,626. Northrop Grumman Co. has a one year low of $418.60 and a one year high of $555.57. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.91 and a current ratio of 1.01. The firm has a market cap of $71.69 billion, a price-to-earnings ratio of 17.48, a price-to-earnings-growth ratio of 3.73 and a beta of 0.31. The business's fifty day moving average price is $475.18 and its 200-day moving average price is $493.11.

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 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, equities research analysts predict that Northrop Grumman Co. will post 28.05 earnings per share for the current year.

Northrop Grumman Announces Dividend

The business also recently declared 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 annualized dividend and a yield of 1.66%. Northrop Grumman's dividend payout ratio is 29.08%.

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

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.