Yacktman Asset Management LP Cuts Position in Northrop Grumman Co. (NYSE:NOC)

Yacktman Asset Management LP decreased its position in shares of Northrop Grumman Co. (NYSE:NOC - Free Report) by 22.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 286,770 shares of the aerospace company's stock after selling 84,990 shares during the period. Northrop Grumman comprises 1.6% of Yacktman Asset Management LP's investment portfolio, making the stock its 24th biggest position. Yacktman Asset Management LP owned approximately 0.20% of Northrop Grumman worth $134,578,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of NOC. Two Sigma Advisers LP boosted its position in Northrop Grumman by 102.6% in the 3rd quarter. Two Sigma Advisers LP now owns 735,600 shares of the aerospace company's stock valued at $388,448,000 after buying an additional 372,500 shares during the period. Franklin Resources Inc. raised its stake in shares of Northrop Grumman by 6.2% in the third quarter. Franklin Resources Inc. now owns 2,426,270 shares of the aerospace company's stock valued at $1,315,729,000 after acquiring an additional 141,816 shares in the last quarter. Wedge Capital Management L L P NC purchased a new position in Northrop Grumman in the fourth quarter valued at $66,171,000. International Assets Investment Management LLC acquired a new position in Northrop Grumman during the 4th quarter worth $622,000. Finally, National Bank of Canada FI increased its holdings in Northrop Grumman by 154.7% during the 3rd quarter. National Bank of Canada FI now owns 157,601 shares of the aerospace company's stock worth $83,224,000 after purchasing an additional 95,724 shares during the period. 83.40% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts have recently commented on NOC shares. Wolfe Research raised Northrop Grumman from an "underperform" rating to a "peer perform" rating in a research report on Monday, February 3rd. Susquehanna lowered their price target on shares of Northrop Grumman from $625.00 to $557.00 and set a "positive" rating for the company in a report on Wednesday, January 8th. StockNews.com lowered shares of Northrop Grumman from a "strong-buy" rating to a "buy" rating in a report on Monday, February 3rd. Citigroup increased their target price on Northrop Grumman from $587.00 to $591.00 and gave the company a "buy" rating in a report on Monday. Finally, Barclays decreased their price target 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. Nine analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $544.56.

Northrop Grumman Stock Performance

NYSE:NOC traded down $15.71 during trading hours on Friday, reaching $439.35. 1,414,211 shares of the company's stock were exchanged, compared to its average volume of 871,490. Northrop Grumman Co. has a 1-year low of $418.60 and a 1-year high of $555.57. The company has a quick ratio of 0.91, a current ratio of 1.01 and a debt-to-equity ratio of 0.96. The firm has a market capitalization of $63.60 billion, a price-to-earnings ratio of 15.45, a P/E/G ratio of 3.00 and a beta of 0.35. The company has a 50-day moving average of $475.65 and a 200 day moving average of $499.46.

Northrop Grumman (NYSE:NOC - Get Free Report) last released its quarterly earnings results on Thursday, January 30th. The aerospace company reported $6.39 earnings per share (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%. Research analysts anticipate that Northrop Grumman Co. will post 27.94 EPS for the current year.

Northrop Grumman Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, December 18th. Stockholders of record on Monday, December 2nd were paid a dividend of $2.06 per share. This represents a $8.24 annualized dividend and a dividend yield of 1.88%. The ex-dividend date was Monday, December 2nd. Northrop Grumman's dividend payout ratio (DPR) is presently 29.08%.

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