Northrop Grumman Co. (NYSE:NOC) Shares Acquired by Jacobi Capital Management LLC

Jacobi Capital Management LLC boosted its stake in Northrop Grumman Co. (NYSE:NOC) by 1.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,987 shares of the aerospace company’s stock after buying an additional 23 shares during the period. Jacobi Capital Management LLC’s holdings in Northrop Grumman were worth $933,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in NOC. Two Sigma Advisers LP increased its holdings in shares of Northrop Grumman by 102.6% during the third quarter. Two Sigma Advisers LP now owns 735,600 shares of the aerospace company’s stock valued at $388,448,000 after purchasing an additional 372,500 shares during the period. Proficio Capital Partners LLC acquired a new position in shares of Northrop Grumman in the 4th quarter valued at $94,370,000. Franklin Resources Inc. boosted its position in shares of 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 purchasing an additional 141,816 shares during the period. Wedge Capital Management L L P NC acquired a new stake in Northrop Grumman during the 4th quarter worth about $66,171,000. Finally, International Assets Investment Management LLC acquired a new stake in Northrop Grumman during the 4th quarter worth about $622,000. 83.40% of the stock is owned by institutional investors and hedge funds.

Northrop Grumman Price Performance

NOC stock opened at $461.74 on Friday. 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 business has a 50-day simple moving average of $469.44 and a two-hundred day simple moving average of $496.18. The company has a market capitalization of $66.84 billion, a P/E ratio of 16.29, a price-to-earnings-growth ratio of 3.73 and a beta of 0.35. Northrop Grumman Co. has a 52-week low of $418.60 and a 52-week high of $555.57.

Northrop Grumman (NYSE:NOC) last released its earnings results on Thursday, January 30th. The aerospace company reported $6.39 earnings per share (EPS) for the quarter, beating the consensus estimate 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 expect that Northrop Grumman Co. will post 28.05 EPS for the current fiscal year.

Northrop Grumman Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 19th. Investors of record on Monday, March 3rd will be paid a $2.06 dividend. The ex-dividend date is Monday, March 3rd. This represents a $8.24 annualized dividend and a yield of 1.78%. Northrop Grumman’s payout ratio is 29.08%.

Northrop Grumman declared that its Board of Directors has initiated a share buyback plan on Wednesday, December 11th that authorizes the company to buyback $3.00 billion in outstanding shares. This buyback authorization authorizes the aerospace company to repurchase up to 4.3% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s management believes its shares are undervalued.

Analysts Set New Price Targets

A number of research firms have recently weighed in on NOC. Citigroup raised their price target on Northrop Grumman from $587.00 to $591.00 and gave the stock a “buy” rating in a research note on Monday, February 10th. Wolfe Research raised Northrop Grumman from an “underperform” rating to a “peer perform” rating in a research report on Monday, February 3rd. Susquehanna dropped their price target on Northrop Grumman from $625.00 to $557.00 and set a “positive” rating on the stock in a research report on Wednesday, January 8th. StockNews.com lowered Northrop Grumman from a “strong-buy” rating to a “buy” rating in a report on Monday, February 3rd. Finally, UBS Group decreased their price target on Northrop Grumman from $579.00 to $558.00 and set a “buy” rating on the stock in a research note on Friday, January 31st. Nine analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $542.75.

Insiders Place Their Bets

In related news, VP Benjamin R. Davies sold 192 shares of the 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 sale, the vice president now 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 accessible through the SEC website. Insiders have sold a total of 291 shares of company stock worth $129,184 over the last 90 days. Corporate insiders own 0.22% of the company’s stock.

Northrop Grumman Company 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.