Louisiana State Employees Retirement System Has $3.47 Million Stock Position in Northrop Grumman Co. (NYSE:NOC)

Louisiana State Employees Retirement System decreased its position in shares of Northrop Grumman Co. (NYSE:NOC) by 3.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 7,400 shares of the aerospace company’s stock after selling 300 shares during the period. Louisiana State Employees Retirement System’s holdings in Northrop Grumman were worth $3,473,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the company. Wellington Management Group LLP boosted its position in Northrop Grumman by 0.4% during the third quarter. Wellington Management Group LLP now owns 4,140,892 shares of the aerospace company’s stock valued at $2,186,681,000 after purchasing an additional 17,596 shares during the last quarter. Geode Capital Management LLC boosted its position in Northrop Grumman by 0.6% during the third quarter. Geode Capital Management LLC now owns 3,003,360 shares of the aerospace company’s stock valued at $1,581,644,000 after purchasing an additional 18,791 shares during the last quarter. Franklin Resources Inc. lifted 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 worth $1,315,729,000 after buying an additional 141,816 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of Northrop Grumman by 0.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 809,445 shares of the aerospace company’s stock worth $427,444,000 after buying an additional 3,211 shares during the last quarter. Finally, Two Sigma Advisers LP lifted 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 worth $388,448,000 after buying an additional 372,500 shares during the last quarter. Institutional investors and hedge funds own 83.40% of the company’s stock.

Northrop Grumman Trading Down 3.6 %

Shares of NOC opened at $454.09 on Friday. Northrop Grumman Co. has a 12-month low of $418.60 and a 12-month high of $555.57. 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 firm has a market capitalization of $65.73 billion, a price-to-earnings ratio of 16.02, a P/E/G ratio of 3.00 and a beta of 0.35. The stock’s 50-day moving average price is $476.15 and its 200 day moving average price is $499.78.

Northrop Grumman (NYSE:NOC) last issued its quarterly earnings results on Thursday, January 30th. The aerospace company reported $6.39 earnings per share (EPS) for the quarter, beating the consensus estimate 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, research analysts predict that Northrop Grumman Co. will post 27.94 earnings per share for the current year.

Northrop Grumman declared that its Board of Directors has initiated a stock repurchase plan on Wednesday, December 11th that permits the company to buyback $3.00 billion in outstanding shares. This buyback authorization permits the aerospace company to repurchase up to 4.3% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s leadership believes its stock is undervalued.

Northrop Grumman Dividend Announcement

The company also recently declared 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. The ex-dividend date was Monday, December 2nd. This represents a $8.24 annualized dividend and a yield of 1.81%. Northrop Grumman’s dividend payout ratio is 29.08%.

Analyst Ratings Changes

NOC has been the subject of a number of analyst reports. Barclays reduced their price target on Northrop Grumman from $550.00 to $500.00 and set an “equal weight” rating for the company in a research report on Monday, January 6th. Wells Fargo & Company reduced their price target on Northrop Grumman from $595.00 to $574.00 and set an “overweight” rating for the company in a research report on Friday, January 31st. StockNews.com cut Northrop Grumman from a “strong-buy” rating to a “buy” rating in a research report on Monday, February 3rd. Susquehanna reduced their price target on Northrop Grumman from $625.00 to $557.00 and set a “positive” rating for the company in a research report on Wednesday, January 8th. Finally, Truist Financial initiated coverage on Northrop Grumman in a research report on Tuesday, January 14th. They issued a “buy” rating and a $544.00 price target for the company. Nine research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $544.56.

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.