Nuance Investments LLC Has $42.55 Million Stock Holdings in Northrop Grumman Co. (NYSE:NOC)

Nuance Investments LLC raised its holdings in shares of Northrop Grumman Co. (NYSE:NOC) by 13.4% in the fourth quarter, HoldingsChannel.com reports. The firm owned 90,673 shares of the aerospace company’s stock after buying an additional 10,720 shares during the period. Northrop Grumman comprises 1.7% of Nuance Investments LLC’s holdings, making the stock its 18th largest position. Nuance Investments LLC’s holdings in Northrop Grumman were worth $42,552,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. RPg Family Wealth Advisory LLC bought a new stake in Northrop Grumman during the 3rd quarter worth approximately $31,000. Whipplewood Advisors LLC bought a new position in Northrop Grumman during the 4th quarter valued at $31,000. FSA Wealth Management LLC purchased a new position in Northrop Grumman during the 3rd quarter worth $36,000. Albion Financial Group UT purchased a new position in Northrop Grumman during the 4th quarter worth $33,000. Finally, Modus Advisors LLC bought a new position in shares of Northrop Grumman during the fourth quarter valued at about $38,000. 83.40% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the company. Citigroup boosted their target price on Northrop Grumman from $587.00 to $591.00 and gave the stock a “buy” rating in a research note on Monday, February 10th. Truist Financial started coverage on Northrop Grumman in a research note on Tuesday, January 14th. They issued a “buy” rating and a $544.00 price objective on the stock. Wells Fargo & Company boosted their price objective on Northrop Grumman from $545.00 to $547.00 and gave the company an “overweight” rating in a research note on Friday, March 7th. Barclays reduced their target price on shares of 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. Finally, UBS Group cut their price objective on shares of Northrop Grumman from $579.00 to $558.00 and set a “buy” rating for the company in a report on Friday, January 31st. Nine investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $542.88.

Northrop Grumman Price Performance

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

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

Northrop Grumman Dividend Announcement

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 dividend of $2.06 per share. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $8.24 dividend on an annualized basis and a dividend yield of 1.63%. Northrop Grumman’s dividend payout ratio (DPR) is currently 29.08%.

Northrop Grumman announced that its Board of Directors has approved a share buyback 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 stock through open market purchases. Stock buyback plans are often an indication that the company’s management believes its stock is undervalued.

Insider Transactions at Northrop Grumman

In other Northrop Grumman news, VP Benjamin R. Davies sold 464 shares of the stock in a transaction 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 completion of the sale, the vice president now owns 245 shares of the company’s stock, valued at $112,883.75. This represents a 65.44 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Kathy J. Warden sold 3,750 shares of the 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 sale, the chief executive officer now 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 position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 4,505 shares of company stock worth $2,126,405. Company insiders own 0.22% of the company’s stock.

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.