JLB & Associates Inc. Sells 765 Shares of Northrop Grumman Co. (NYSE:NOC)

JLB & Associates Inc. lessened its position in Northrop Grumman Co. (NYSE:NOC) by 2.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 29,100 shares of the aerospace company’s stock after selling 765 shares during the period. Northrop Grumman comprises about 1.9% of JLB & Associates Inc.’s portfolio, making the stock its 23rd largest holding. JLB & Associates Inc.’s holdings in Northrop Grumman were worth $13,656,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Two Sigma Advisers LP boosted its position in Northrop Grumman by 102.6% during the third 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 during the period. 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 worth $1,315,729,000 after buying an additional 141,816 shares during the last quarter. Wedge Capital Management L L P NC bought a new stake in shares of Northrop Grumman during the 4th quarter worth about $66,171,000. International Assets Investment Management LLC acquired a new position in Northrop Grumman in the 4th quarter valued at about $622,000. Finally, National Bank of Canada FI raised its holdings in Northrop Grumman by 154.7% in the 3rd quarter. National Bank of Canada FI now owns 157,601 shares of the aerospace company’s stock valued at $83,224,000 after acquiring an additional 95,724 shares during the period. 83.40% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on NOC shares. UBS Group reduced their price objective on Northrop Grumman from $579.00 to $558.00 and set a “buy” rating for the company in a report on Friday, January 31st. 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 note on Monday, January 6th. Truist Financial assumed coverage on Northrop Grumman in a research report on Tuesday, January 14th. They set a “buy” rating and a $544.00 price objective on the stock. Wells Fargo & Company reduced their target price on shares of Northrop Grumman from $595.00 to $574.00 and set an “overweight” rating for the company in a research report on Friday, January 31st. Finally, StockNews.com lowered shares of Northrop Grumman from a “strong-buy” rating to a “buy” rating in a research report on Monday, February 3rd. Nine equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, Northrop Grumman presently has an average rating of “Moderate Buy” and an average target price of $544.56.

Northrop Grumman Stock Performance

NYSE NOC opened at $438.46 on Friday. Northrop Grumman Co. has a 1 year low of $418.60 and a 1 year high of $555.57. The firm has a market capitalization of $63.47 billion, a price-to-earnings ratio of 15.47, a P/E/G ratio of 3.69 and a beta of 0.35. 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 firm’s 50 day simple moving average is $471.66 and its 200 day simple moving average is $497.75.

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

Northrop Grumman Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 19th. Shareholders of record on Monday, March 3rd will be paid a dividend of $2.06 per share. This represents a $8.24 annualized dividend and a yield of 1.88%. The ex-dividend date is Monday, March 3rd. Northrop Grumman’s payout ratio is 29.08%.

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

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.