Korea Investment CORP Purchases 31,607 Shares of Northrop Grumman Co. (NYSE:NOC)

Korea Investment CORP lifted its holdings in Northrop Grumman Co. (NYSE:NOC) by 32.1% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 129,960 shares of the aerospace company’s stock after purchasing an additional 31,607 shares during the period. Korea Investment CORP owned about 0.09% of Northrop Grumman worth $60,989,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Two Sigma Advisers LP raised its stake in Northrop Grumman by 102.6% during the 3rd quarter. Two Sigma Advisers LP now owns 735,600 shares of the aerospace company’s stock worth $388,448,000 after acquiring an additional 372,500 shares during the period. Raymond James Financial Inc. purchased a new stake in shares of Northrop Grumman in the fourth quarter worth $171,580,000. Prudential Financial Inc. raised its position in shares of Northrop Grumman by 225.8% during the 4th quarter. Prudential Financial Inc. now owns 327,998 shares of the aerospace company’s stock valued at $153,926,000 after purchasing an additional 227,314 shares during the period. Proficio Capital Partners LLC purchased a new position in shares of Northrop Grumman during the 4th quarter valued at $94,370,000. Finally, Franklin Resources Inc. lifted its stake in shares of Northrop Grumman by 6.2% during the 3rd quarter. Franklin Resources Inc. now owns 2,426,270 shares of the aerospace company’s stock valued at $1,315,729,000 after buying an additional 141,816 shares in the last quarter. 83.40% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have commented on NOC. Susquehanna decreased their price target on Northrop Grumman from $625.00 to $557.00 and set a “positive” rating on the stock in a report on Wednesday, January 8th. Citigroup boosted their price target on Northrop Grumman from $587.00 to $591.00 and gave the stock a “buy” rating in a report on Monday, February 10th. Argus raised shares of Northrop Grumman to a “strong-buy” rating in a report on Wednesday, February 26th. Truist Financial assumed coverage on shares of Northrop Grumman in a report on Tuesday, January 14th. They issued a “buy” rating and a $544.00 target price on the stock. Finally, UBS Group cut their target price on shares of Northrop Grumman from $579.00 to $558.00 and set a “buy” rating for the company in a research note on Friday, January 31st. Eight research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Northrop Grumman currently has a consensus rating of “Moderate Buy” and a consensus target price of $545.06.

Northrop Grumman Price Performance

Shares of Northrop Grumman stock opened at $513.95 on Friday. The stock has a market cap of $74.40 billion, a price-to-earnings ratio of 18.14, a price-to-earnings-growth ratio of 3.73 and a beta of 0.31. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.91 and a current ratio of 1.01. The stock has a 50 day moving average price of $477.61 and a 200-day moving average price of $493.12. Northrop Grumman Co. has a one year low of $418.60 and a one year high of $555.57.

Northrop Grumman (NYSE:NOC) last posted its quarterly earnings data 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 expect that Northrop Grumman Co. will post 28.05 EPS for the current year.

Northrop Grumman Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 19th. Investors of record on Monday, March 3rd were issued a dividend of $2.06 per share. The ex-dividend date was Monday, March 3rd. This represents a $8.24 annualized dividend and a yield of 1.60%. Northrop Grumman’s payout ratio is 29.08%.

Northrop Grumman announced that its Board of Directors has authorized a share repurchase plan on Wednesday, December 11th that authorizes the company to buyback $3.00 billion in shares. This buyback authorization authorizes the aerospace company to reacquire up to 4.3% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s board of directors believes its stock is undervalued.

Insider Buying and Selling

In other Northrop Grumman news, VP Benjamin R. Davies sold 464 shares of the stock in a transaction on Friday, February 28th. The stock was sold at an average price of $460.75, for a total value of $213,788.00. Following the sale, the vice president now owns 245 shares in the company, valued at $112,883.75. This trade represents a 65.44 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Kathy J. Warden sold 3,750 shares of Northrop Grumman stock in a transaction 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 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 ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 4,505 shares of company stock valued at $2,126,405 in the last ninety days. 0.22% of the stock is owned by company insiders.

Northrop Grumman 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.