Edgestream Partners L.P. Boosts Stock Holdings in Northrop Grumman Co. (NYSE:NOC)

Edgestream Partners L.P. grew its position in shares of Northrop Grumman Co. (NYSE:NOC) by 831.5% in the 4th quarter, Holdings Channel.com reports. The firm owned 7,536 shares of the aerospace company’s stock after buying an additional 6,727 shares during the period. Edgestream Partners L.P.’s holdings in Northrop Grumman were worth $3,537,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in the company. Wellington Management Group LLP increased its holdings in shares of Northrop Grumman by 0.4% during the 3rd 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 in the last quarter. Geode Capital Management LLC increased its holdings in shares of Northrop Grumman by 0.6% during the 3rd 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 in the last quarter. Franklin Resources Inc. increased its holdings 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 purchasing an additional 141,816 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of Northrop Grumman by 2.8% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 832,463 shares of the aerospace company’s stock valued at $390,667,000 after purchasing an additional 23,018 shares in the last quarter. Finally, Two Sigma Advisers LP increased its holdings in shares of Northrop Grumman by 102.6% during the 3rd 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 in the last quarter. 83.40% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages recently commented on NOC. Citigroup boosted their price target on shares of Northrop Grumman from $587.00 to $591.00 and gave the stock a “buy” rating in a report on Monday, February 10th. Wells Fargo & Company boosted their price target on shares of Northrop Grumman from $545.00 to $547.00 and gave the stock an “overweight” rating in a report on Friday. Truist Financial began coverage on shares of Northrop Grumman in a report on Tuesday, January 14th. They issued a “buy” rating and a $544.00 price target for the company. Susquehanna cut their price target on shares of Northrop Grumman from $625.00 to $557.00 and set a “positive” rating for the company in a report on Wednesday, January 8th. Finally, UBS Group cut their price target on shares of Northrop Grumman from $579.00 to $558.00 and set a “buy” rating for the company in a report on Friday, January 31st. Nine research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $542.88.

Insiders Place Their Bets

In other Northrop Grumman news, VP Benjamin R. Davies sold 192 shares of the stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $429.08, for a total transaction of $82,383.36. Following the completion of the transaction, the vice president now owns 709 shares of the company’s stock, valued at $304,217.72. This trade represents a 21.31 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Kathy J. Warden sold 3,750 shares of the stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $475.65, for a total transaction of $1,783,687.50. Following the transaction, the chief executive officer now directly 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 position. The disclosure for this sale can be found here. Insiders sold a total of 4,505 shares of company stock valued at $2,126,405 over the last 90 days. 0.22% of the stock is owned by company insiders.

Northrop Grumman Trading Up 2.5 %

Shares of NOC opened at $487.22 on Friday. The company has a current ratio of 1.01, a quick ratio of 0.91 and a debt-to-equity ratio of 0.96. Northrop Grumman Co. has a 12-month low of $418.60 and a 12-month high of $555.57. The firm has a 50-day moving average price of $469.88 and a 200 day moving average price of $495.11. The firm has a market capitalization of $70.53 billion, a P/E ratio of 17.19, a P/E/G ratio of 3.73 and a beta of 0.31.

Northrop Grumman (NYSE:NOC) last announced its quarterly earnings data 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 10.17% and a return on equity of 26.24%. Sell-side analysts forecast that Northrop Grumman Co. will post 28.05 EPS for the current year.

Northrop Grumman Dividend Announcement

The business 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 1.69%. The ex-dividend date is Monday, March 3rd. Northrop Grumman’s dividend payout ratio (DPR) is presently 29.08%.

Northrop Grumman announced that its Board of Directors has initiated a stock buyback 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 buy up to 4.3% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s board believes its shares are undervalued.

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.