Northrop Grumman Co. (NYSE:NOC) Shares Purchased by Machina Capital S.A.S.

Machina Capital S.A.S. boosted its position in Northrop Grumman Co. (NYSE:NOC) by 198.7% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 4,002 shares of the aerospace company’s stock after purchasing an additional 2,662 shares during the period. Northrop Grumman makes up about 0.8% of Machina Capital S.A.S.’s portfolio, making the stock its 21st largest holding. Machina Capital S.A.S.’s holdings in Northrop Grumman were worth $1,878,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Lockheed Martin Investment Management Co. lifted its position in Northrop Grumman by 19.9% in the fourth quarter. Lockheed Martin Investment Management Co. now owns 16,660 shares of the aerospace company’s stock worth $7,818,000 after purchasing an additional 2,770 shares during the period. Trinity Street Asset Management LLP lifted its position in Northrop Grumman by 3.8% in the fourth quarter. Trinity Street Asset Management LLP now owns 48,367 shares of the aerospace company’s stock worth $22,698,000 after purchasing an additional 1,786 shares during the period. Y Intercept Hong Kong Ltd acquired a new stake in Northrop Grumman in the third quarter worth approximately $604,000. Fisher Asset Management LLC lifted its position in Northrop Grumman by 2.6% in the third quarter. Fisher Asset Management LLC now owns 212,514 shares of the aerospace company’s stock worth $112,222,000 after purchasing an additional 5,334 shares during the period. Finally, AIA Group Ltd lifted its position in Northrop Grumman by 20.0% in the third quarter. AIA Group Ltd now owns 7,458 shares of the aerospace company’s stock worth $3,938,000 after purchasing an additional 1,242 shares during the period. 83.40% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on NOC shares. Barclays dropped their price target on Northrop Grumman from $550.00 to $500.00 and set an “equal weight” rating on the stock in a report on Monday, January 6th. Truist Financial started coverage on Northrop Grumman in a report on Tuesday, January 14th. They issued a “buy” rating and a $544.00 price target on the stock. Argus raised Northrop Grumman to a “strong-buy” rating in a report on Wednesday, February 26th. Wells Fargo & Company upped their price target on Northrop Grumman from $545.00 to $547.00 and gave the company an “overweight” rating in a report on Friday. Finally, UBS Group dropped their price target on Northrop Grumman from $579.00 to $558.00 and set a “buy” rating on the stock in a report on Friday, January 31st. Nine 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’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $542.88.

Insider Activity

In other news, CEO Kathy J. Warden sold 3,750 shares of the business’s stock in a transaction on Thursday, March 6th. The shares were sold at an average price of $475.65, for a total transaction of $1,783,687.50. Following the transaction, the chief executive officer now directly owns 212,852 shares in the company, valued at $101,243,053.80. The trade was a 1.73 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Benjamin R. Davies sold 192 shares of the company’s stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $429.08, for a total transaction of $82,383.36. Following the completion of the sale, the vice president now owns 709 shares of the company’s stock, valued at $304,217.72. This represents a 21.31 % 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 worth $2,126,405 in the last ninety days. Corporate insiders own 0.22% of the company’s stock.

Northrop Grumman Price Performance

Shares of NYSE:NOC opened at $487.22 on Friday. The company’s fifty day moving average is $469.88 and its two-hundred day moving average is $495.20. The company has a quick ratio of 0.91, a current ratio of 1.01 and a debt-to-equity ratio of 0.96. Northrop Grumman Co. has a 12-month low of $418.60 and a 12-month high of $555.57. The company has a market cap of $70.53 billion, a P/E ratio of 17.19, a price-to-earnings-growth ratio of 3.73 and a beta of 0.31.

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

Northrop Grumman Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 19th. Stockholders of record on Monday, March 3rd will be issued a dividend of $2.06 per share. This represents a $8.24 annualized dividend and a dividend yield of 1.69%. The ex-dividend date is Monday, March 3rd. Northrop Grumman’s dividend payout ratio is currently 29.08%.

Northrop Grumman announced that its Board of Directors has initiated a share buyback program on Wednesday, December 11th that allows the company to repurchase $3.00 billion in shares. This repurchase authorization allows the aerospace company to repurchase up to 4.3% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s management believes its stock is undervalued.

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.