Vestmark Advisory Solutions Inc. Buys 33 Shares of Northrop Grumman Co. (NYSE:NOC)

Vestmark Advisory Solutions Inc. boosted its stake in shares of Northrop Grumman Co. (NYSE:NOC) by 0.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,375 shares of the aerospace company’s stock after buying an additional 33 shares during the period. Vestmark Advisory Solutions Inc.’s holdings in Northrop Grumman were worth $2,522,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Two Sigma Advisers LP increased its holdings in shares of Northrop Grumman by 102.6% in the 3rd quarter. Two Sigma Advisers LP now owns 735,600 shares of the aerospace company’s stock worth $388,448,000 after purchasing an additional 372,500 shares in the last quarter. Raymond James Financial Inc. bought a new stake in shares of Northrop Grumman in the 4th quarter worth $171,580,000. Proficio Capital Partners LLC bought a new stake in shares of Northrop Grumman in the 4th quarter worth $94,370,000. Franklin Resources Inc. increased its holdings in shares of Northrop Grumman by 6.2% in the 3rd quarter. Franklin Resources Inc. now owns 2,426,270 shares of the aerospace company’s stock worth $1,315,729,000 after purchasing an additional 141,816 shares in the last quarter. Finally, Wedge Capital Management L L P NC bought a new stake in shares of Northrop Grumman in the 4th quarter worth $66,171,000. Institutional investors own 83.40% of the company’s stock.

Northrop Grumman Price Performance

NYSE:NOC opened at $475.13 on Friday. 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 business’s 50-day simple moving average is $469.56 and its two-hundred day simple moving average is $495.32. The stock has a market cap of $68.78 billion, a PE ratio of 16.77, a P/E/G ratio of 3.73 and a beta of 0.35. Northrop Grumman Co. has a 52 week low of $418.60 and a 52 week 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, beating analysts’ consensus estimates 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, analysts forecast that Northrop Grumman Co. will post 28.05 EPS for the current fiscal year.

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

Northrop Grumman Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, March 19th. Shareholders of record on Monday, March 3rd will be issued a dividend of $2.06 per share. The ex-dividend date is Monday, March 3rd. This represents a $8.24 dividend on an annualized basis and a yield of 1.73%. Northrop Grumman’s dividend payout ratio is presently 29.08%.

Insider Transactions at Northrop Grumman

In other news, VP Benjamin R. Davies sold 192 shares of Northrop Grumman stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $429.08, for a total value of $82,383.36. Following the sale, the vice president now directly owns 709 shares of the company’s stock, valued at approximately $304,217.72. The trade was a 21.31 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Kathy J. Warden sold 3,750 shares of Northrop Grumman stock in a transaction dated 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 directly owns 212,852 shares in the company, valued at $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. Over the last three months, insiders have sold 4,505 shares of company stock valued at $2,126,405. 0.22% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of analysts have commented on the company. Citigroup lifted their target price on Northrop Grumman from $587.00 to $591.00 and gave the stock a “buy” rating in a report on Monday, February 10th. Wolfe Research upgraded Northrop Grumman from an “underperform” rating to a “peer perform” rating in a research note on Monday, February 3rd. Wells Fargo & Company dropped their price target on Northrop Grumman from $574.00 to $545.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 26th. Truist Financial assumed coverage on Northrop Grumman in a research note on Tuesday, January 14th. They issued a “buy” rating and a $544.00 price target on the stock. Finally, Argus upgraded Northrop Grumman to a “strong-buy” rating in a research note on Wednesday, February 26th. Nine equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Northrop Grumman currently has a consensus rating of “Moderate Buy” and an average target price of $542.75.

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.