Blair William & Co. IL Lowers Position in Northrop Grumman Co. (NYSE:NOC)

Blair William & Co. IL decreased its position in shares of Northrop Grumman Co. (NYSE:NOC) by 6.2% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 18,105 shares of the aerospace company’s stock after selling 1,196 shares during the period. Blair William & Co. IL’s holdings in Northrop Grumman were worth $8,496,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. raised its holdings in Northrop Grumman by 0.5% in the fourth quarter. Vanguard Group Inc. now owns 12,677,781 shares of the aerospace company’s stock worth $5,949,556,000 after purchasing an additional 56,807 shares in the last quarter. Wellington Management Group LLP increased its stake in shares of Northrop Grumman by 0.4% in the 3rd quarter. Wellington Management Group LLP now owns 4,140,892 shares of the aerospace company’s stock worth $2,186,681,000 after acquiring an additional 17,596 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of Northrop Grumman by 0.6% in the 3rd quarter. Geode Capital Management LLC now owns 3,003,360 shares of the aerospace company’s stock worth $1,581,644,000 after acquiring an additional 18,791 shares in the last quarter. Franklin Resources Inc. lifted its position in Northrop Grumman by 6.2% during 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 acquiring an additional 141,816 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its stake in Northrop Grumman by 2.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 832,463 shares of the aerospace company’s stock worth $390,667,000 after acquiring an additional 23,018 shares in the last quarter. Institutional investors own 83.40% of the company’s stock.

Northrop Grumman Price Performance

Shares of NYSE:NOC opened at $511.86 on Friday. The firm’s 50 day moving average price is $478.20 and its 200-day moving average price is $492.84. 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 stock has a market capitalization of $74.09 billion, a PE ratio of 18.06, a price-to-earnings-growth ratio of 3.73 and a beta of 0.31. Northrop Grumman Co. has a twelve month low of $418.60 and a twelve month high of $555.57.

Northrop Grumman (NYSE:NOC) last issued its quarterly earnings results 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 expect that Northrop Grumman Co. will post 28.05 EPS for the current year.

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

Northrop Grumman Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 19th. Stockholders of record on Monday, March 3rd were paid a $2.06 dividend. This represents a $8.24 annualized dividend and a dividend yield of 1.61%. The ex-dividend date was Monday, March 3rd. Northrop Grumman’s dividend payout ratio (DPR) is currently 29.08%.

Insider Activity

In other Northrop Grumman news, VP Benjamin R. Davies sold 464 shares of Northrop Grumman stock in a transaction that occurred on 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 $112,883.75. The trade was a 65.44 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Kathy J. Warden sold 3,750 shares of the stock in a transaction on Thursday, March 6th. The stock was sold at an average price of $475.65, for a total transaction of $1,783,687.50. Following the completion of the sale, the chief executive officer now directly owns 212,852 shares of the company’s stock, valued at approximately $101,243,053.80. This trade represents a 1.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 4,505 shares of company stock valued at $2,126,405 in the last ninety days. Corporate insiders own 0.22% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently commented on NOC. Wells Fargo & Company boosted their price target on Northrop Grumman from $545.00 to $547.00 and gave the stock an “overweight” rating in a research report on Friday, March 7th. Susquehanna reduced their price target on Northrop Grumman from $625.00 to $557.00 and set a “positive” rating for the company in a report on Wednesday, January 8th. Barclays dropped 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. Truist Financial initiated coverage on shares of Northrop Grumman in a research note on Tuesday, January 14th. They set a “buy” rating and a $544.00 price objective for the company. Finally, Citigroup increased their price target on shares of Northrop Grumman from $587.00 to $591.00 and gave the company a “buy” rating in a report on Monday, February 10th. Eight equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $545.06.

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.