Mitsubishi UFJ Trust & Banking Corp Raises Position in Northrop Grumman Co. (NYSE:NOC)

Mitsubishi UFJ Trust & Banking Corp grew its holdings in Northrop Grumman Co. (NYSE:NOC) by 1.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 105,064 shares of the aerospace company’s stock after acquiring an additional 1,089 shares during the period. Mitsubishi UFJ Trust & Banking Corp’s holdings in Northrop Grumman were worth $49,305,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also modified their holdings of NOC. Two Sigma Advisers LP increased its holdings in Northrop Grumman by 102.6% during the 3rd quarter. Two Sigma Advisers LP now owns 735,600 shares of the aerospace company’s stock worth $388,448,000 after purchasing an additional 372,500 shares during the period. Raymond James Financial Inc. purchased a new stake in shares of Northrop Grumman during the fourth quarter worth approximately $171,580,000. Prudential Financial Inc. increased its stake in shares of Northrop Grumman by 225.8% during the fourth quarter. Prudential Financial Inc. now owns 327,998 shares of the aerospace company’s stock worth $153,926,000 after buying an additional 227,314 shares during the period. Proficio Capital Partners LLC acquired a new stake in Northrop Grumman in the fourth quarter valued at approximately $94,370,000. Finally, Franklin Resources Inc. grew its stake 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 in the last quarter. Hedge funds and other institutional investors own 83.40% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on NOC shares. Citigroup upped 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. Susquehanna lowered their price objective 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. UBS Group dropped their target price on Northrop Grumman from $579.00 to $558.00 and set a “buy” rating on the stock in a research report on Friday, January 31st. Argus upgraded shares of Northrop Grumman to a “strong-buy” rating in a report on Wednesday, February 26th. Finally, Barclays dropped their price objective on Northrop Grumman from $550.00 to $500.00 and set an “equal weight” rating for the company in a research note on Monday, January 6th. Nine equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $542.88.

Insider Activity

In other news, VP Benjamin R. Davies sold 464 shares of the stock in a transaction dated Friday, February 28th. The shares were sold at an average price of $460.75, for a total transaction of $213,788.00. Following the transaction, the vice president now owns 245 shares of the company’s stock, valued at approximately $112,883.75. This trade represents a 65.44 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, 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 value of $1,783,687.50. Following the completion of the transaction, the chief executive officer now owns 212,852 shares of the company’s stock, valued at approximately $101,243,053.80. The trade was a 1.73 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 4,505 shares of company stock worth $2,126,405. 0.22% of the stock is currently owned by corporate insiders.

Northrop Grumman Trading Up 2.4 %

NYSE NOC opened at $506.88 on Wednesday. Northrop Grumman Co. has a 12 month low of $418.60 and a 12 month high of $555.57. The company has a 50-day moving average of $476.25 and a 200-day moving average of $492.88. The company has a market cap of $73.37 billion, a P/E ratio of 17.89, a P/E/G ratio of 3.73 and a beta of 0.31. The company has a debt-to-equity ratio of 0.96, a current ratio of 1.01 and a quick ratio of 0.91.

Northrop Grumman (NYSE:NOC) last posted its quarterly earnings results on Thursday, January 30th. The aerospace company reported $6.39 earnings per share (EPS) for the quarter, beating 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 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. Investors of record on Monday, March 3rd were issued a $2.06 dividend. The ex-dividend date was Monday, March 3rd. This represents a $8.24 annualized dividend and a yield of 1.63%. Northrop Grumman’s dividend payout ratio is currently 29.08%.

Northrop Grumman declared that its board has approved a share repurchase program on Wednesday, December 11th that allows the company to repurchase $3.00 billion in shares. This repurchase authorization allows the aerospace company to reacquire up to 4.3% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s board of directors 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.