Northrop Grumman Co. (NYSE:NOC) Shares Sold by Foster & Motley Inc.

Foster & Motley Inc. lessened its position in shares of Northrop Grumman Co. (NYSE:NOC) by 5.4% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 2,936 shares of the aerospace company’s stock after selling 166 shares during the quarter. Foster & Motley Inc.’s holdings in Northrop Grumman were worth $1,378,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Two Sigma Advisers LP grew its position in shares of Northrop Grumman by 102.6% in 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. Franklin Resources Inc. grew its position in shares of Northrop Grumman by 6.2% in the third 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 shares of Northrop Grumman in the fourth quarter valued at about $66,171,000. International Assets Investment Management LLC acquired a new stake in shares of Northrop Grumman in the fourth quarter valued at about $622,000. Finally, National Bank of Canada FI grew its position in shares of Northrop Grumman by 154.7% in the third quarter. National Bank of Canada FI now owns 157,601 shares of the aerospace company’s stock valued at $83,224,000 after purchasing an additional 95,724 shares during the period. Institutional investors and hedge funds own 83.40% of the company’s stock.

Insider Buying and Selling

In related news, VP Benjamin R. Davies sold 1,156 shares of the company’s stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $532.93, for a total transaction of $616,067.08. Following the sale, the vice president now directly owns 537 shares of the company’s stock, valued at $286,183.41. This represents a 68.28 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders have sold a total of 1,255 shares of company stock valued at $663,859 in the last ninety days. Company insiders own 0.22% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the stock. Barclays dropped their target price on shares of Northrop Grumman from $550.00 to $500.00 and set an “equal weight” rating on the stock in a research report on Monday, January 6th. Royal Bank of Canada boosted their price target on shares of Northrop Grumman from $500.00 to $540.00 and gave the stock a “sector perform” rating in a research report on Friday, October 25th. Truist Financial initiated coverage on shares of Northrop Grumman in a research report on Tuesday, January 14th. They set a “buy” rating and a $544.00 price target on the stock. Susquehanna lowered their price target 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. Finally, Citigroup upgraded shares of Northrop Grumman from a “neutral” rating to a “buy” rating and set a $587.00 price target on the stock in a research report on Tuesday, January 21st. Eight investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Northrop Grumman currently has a consensus rating of “Moderate Buy” and a consensus target price of $550.94.

Northrop Grumman Price Performance

Northrop Grumman stock opened at $483.70 on Friday. The company’s 50 day simple moving average is $478.66 and its 200-day simple moving average is $497.63. The company has a market capitalization of $70.48 billion, a price-to-earnings ratio of 29.97, a price-to-earnings-growth ratio of 0.95 and a beta of 0.35. Northrop Grumman Co. has a 1 year low of $418.60 and a 1 year high of $555.57. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.97 and a current ratio of 1.09.

Northrop Grumman (NYSE:NOC) last released 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 net margin of 5.79% and a return on equity of 26.57%. As a group, equities research analysts expect that Northrop Grumman Co. will post 25.96 earnings per share for the current year.

Northrop Grumman announced that its Board of Directors has authorized a stock repurchase program on Wednesday, December 11th that allows the company to buyback $3.00 billion in outstanding shares. This buyback authorization allows the aerospace company to purchase up to 4.3% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s leadership believes its shares are undervalued.

Northrop Grumman Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, December 18th. Investors of record on Monday, December 2nd were paid a dividend of $2.06 per share. This represents a $8.24 annualized dividend and a yield of 1.70%. The ex-dividend date of this dividend was Monday, December 2nd. Northrop Grumman’s payout ratio is currently 51.05%.

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.