Northrop Grumman Co. (NYSE:NOC) Shares Acquired by New York Life Investment Management LLC

New York Life Investment Management LLC grew its position in shares of Northrop Grumman Co. (NYSE:NOC) by 0.4% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 18,421 shares of the aerospace company’s stock after purchasing an additional 81 shares during the quarter. New York Life Investment Management LLC’s holdings in Northrop Grumman were worth $8,645,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Two Sigma Advisers LP increased its holdings 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 valued at $388,448,000 after buying an additional 372,500 shares in the last quarter. Franklin Resources Inc. boosted its holdings in shares of Northrop Grumman by 6.2% during the third 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 last quarter. Wedge Capital Management L L P NC purchased a new stake in Northrop Grumman in the 4th quarter valued at about $66,171,000. International Assets Investment Management LLC purchased a new stake in Northrop Grumman in the fourth quarter valued at approximately $622,000. Finally, National Bank of Canada FI increased its holdings in shares of 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 buying an additional 95,724 shares during the last quarter. 83.40% of the stock is owned by institutional investors and hedge funds.

Northrop Grumman Stock Up 1.1 %

Shares of NYSE:NOC opened at $459.90 on Friday. The company’s fifty day moving average is $469.59 and its 200-day moving average is $496.50. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.91 and a current ratio of 1.01. 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 $66.57 billion, a PE ratio of 16.23, a P/E/G ratio of 3.73 and a beta of 0.35.

Northrop Grumman (NYSE:NOC) last issued its quarterly earnings data on Thursday, January 30th. The aerospace company reported $6.39 earnings per share for the quarter, topping the consensus estimate of $6.27 by $0.12. Northrop Grumman had a net margin of 10.17% and a return on equity of 26.24%. Equities research analysts predict that Northrop Grumman Co. will post 28.05 earnings per share for the current fiscal year.

Northrop Grumman Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, March 19th. Investors of record on Monday, March 3rd will be issued a dividend of $2.06 per share. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $8.24 dividend on an annualized basis and a yield of 1.79%. Northrop Grumman’s dividend payout ratio is 29.08%.

Northrop Grumman announced that its Board of Directors has approved 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 often an indication that the company’s leadership believes its shares are undervalued.

Analysts Set New Price Targets

Several research firms have recently issued reports on NOC. Barclays dropped their price objective on shares of Northrop Grumman from $550.00 to $500.00 and set an “equal weight” rating for the company in a research report on Monday, January 6th. StockNews.com lowered Northrop Grumman from a “strong-buy” rating to a “buy” rating in a research report on Monday, February 3rd. Citigroup increased their price target on shares of Northrop Grumman from $587.00 to $591.00 and gave the stock a “buy” rating in a research report on Monday, February 10th. Susquehanna reduced their price target on shares of Northrop Grumman from $625.00 to $557.00 and set a “positive” rating on the stock in a research report on Wednesday, January 8th. Finally, UBS Group reduced their price objective on Northrop Grumman from $579.00 to $558.00 and set a “buy” rating for the company in a research report on Friday, January 31st. Nine investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, Northrop Grumman presently has an average rating of “Moderate Buy” and a consensus target price of $542.75.

Insider Buying and Selling at Northrop Grumman

In other news, VP Benjamin R. Davies sold 192 shares of the firm’s stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $429.08, for a total value of $82,383.36. Following the completion of the sale, the vice president now directly owns 709 shares in the company, valued at approximately $304,217.72. This trade represents a 21.31 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. In the last quarter, insiders sold 291 shares of company stock worth $129,184. 0.22% of the stock is currently owned by insiders.

About Northrop Grumman

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.