Wedge Capital Management L L P NC Invests $66.17 Million in Northrop Grumman Co. (NYSE:NOC)

Wedge Capital Management L L P NC purchased a new position in shares of Northrop Grumman Co. (NYSE:NOC - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 141,002 shares of the aerospace company's stock, valued at approximately $66,171,000. Northrop Grumman accounts for about 1.2% of Wedge Capital Management L L P NC's investment portfolio, making the stock its 11th largest holding. Wedge Capital Management L L P NC owned approximately 0.10% of Northrop Grumman at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of NOC. Two Sigma Advisers LP grew its position in shares of Northrop Grumman by 102.6% during the 3rd quarter. Two Sigma Advisers LP now owns 735,600 shares of the aerospace company's stock valued at $388,448,000 after acquiring an additional 372,500 shares during the period. Marshall Wace LLP acquired a new stake in shares of Northrop Grumman during the 2nd quarter valued at about $74,206,000. Canada Pension Plan Investment Board grew its position in shares of Northrop Grumman by 113.6% during the 2nd quarter. Canada Pension Plan Investment Board now owns 296,844 shares of the aerospace company's stock valued at $129,409,000 after acquiring an additional 157,854 shares during the period. Legal & General Group Plc grew its position in shares of Northrop Grumman by 16.0% during the 2nd quarter. Legal & General Group Plc now owns 1,087,913 shares of the aerospace company's stock valued at $474,276,000 after acquiring an additional 150,367 shares during the period. Finally, Franklin Resources Inc. lifted its stake 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 valued at $1,315,729,000 after buying an additional 141,816 shares in the last quarter. 83.40% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Northrop Grumman

In related news, VP Benjamin R. Davies sold 1,156 shares of Northrop Grumman stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $532.93, for a total value of $616,067.08. Following the completion of the sale, the vice president now owns 537 shares in the company, valued at approximately $286,183.41. This trade represents a 68.28 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In the last quarter, insiders sold 1,255 shares of company stock worth $663,859. Insiders own 0.22% of the company's stock.

Northrop Grumman Trading Up 0.3 %

Shares of NOC stock traded up $1.30 during trading on Friday, hitting $482.49. 1,091,510 shares of the stock traded hands, compared to its average volume of 573,523. The firm has a market capitalization of $70.30 billion, a P/E ratio of 29.89, a price-to-earnings-growth ratio of 0.87 and a beta of 0.35. The company has a debt-to-equity ratio of 1.00, a current ratio of 1.09 and a quick ratio of 0.97. The firm's fifty day moving average price is $480.55 and its 200-day moving average price is $493.71. Northrop Grumman Co. has a 52-week low of $418.60 and a 52-week high of $555.57.

Northrop Grumman (NYSE:NOC - Get Free Report) last released its quarterly earnings results on Thursday, October 24th. The aerospace company reported $7.00 EPS for the quarter, beating the consensus estimate of $6.07 by $0.93. Northrop Grumman had a net margin of 5.79% and a return on equity of 26.57%. The firm had revenue of $10 billion for the quarter, compared to analyst estimates of $10.18 billion. During the same quarter in the previous year, the company earned $6.18 EPS. The business's revenue for the quarter was up 2.3% compared to the same quarter last year. As a group, research analysts forecast that Northrop Grumman Co. will post 25.93 earnings per share for the current fiscal year.

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

Northrop Grumman Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, December 18th. Investors of record on Monday, December 2nd were issued a $2.06 dividend. The ex-dividend date of this dividend was Monday, December 2nd. This represents a $8.24 annualized dividend and a yield of 1.71%. Northrop Grumman's dividend payout ratio (DPR) is presently 51.05%.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on NOC. Royal Bank of Canada raised their price target on shares of 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 shares of Northrop Grumman in a research note on Tuesday. They issued a "buy" rating and a $544.00 price target on the stock. StockNews.com lowered shares of Northrop Grumman from a "strong-buy" rating to a "buy" rating in a research note on Saturday, January 11th. Barclays decreased 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. Finally, Wells Fargo & Company raised shares of Northrop Grumman from an "equal weight" rating to an "overweight" rating and set a $595.00 price target on the stock in a research note on Wednesday, January 8th. Nine analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average price target of $550.94.

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.