Mitsubishi UFJ Asset Management Co. Ltd. Has $109.64 Million Position in Northrop Grumman Co. (NYSE:NOC)

Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in Northrop Grumman Co. (NYSE:NOC) by 8.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 234,364 shares of the aerospace company’s stock after acquiring an additional 18,143 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd.’s holdings in Northrop Grumman were worth $109,640,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Larson Financial Group LLC lifted its holdings in shares of Northrop Grumman by 121.2% during the 3rd quarter. Larson Financial Group LLC now owns 460 shares of the aerospace company’s stock valued at $243,000 after buying an additional 252 shares during the last quarter. Avestar Capital LLC raised its position in Northrop Grumman by 13.0% during the third quarter. Avestar Capital LLC now owns 618 shares of the aerospace company’s stock valued at $326,000 after acquiring an additional 71 shares in the last quarter. Townsquare Capital LLC lifted its stake in Northrop Grumman by 75.6% in the third quarter. Townsquare Capital LLC now owns 5,390 shares of the aerospace company’s stock valued at $2,847,000 after acquiring an additional 2,320 shares during the last quarter. Glenmede Trust Co. NA grew its position in Northrop Grumman by 7.8% in the third quarter. Glenmede Trust Co. NA now owns 17,386 shares of the aerospace company’s stock worth $9,181,000 after acquiring an additional 1,253 shares in the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund acquired a new position in shares of Northrop Grumman during the 3rd quarter worth $1,056,000. 83.40% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, CEO Kathy J. Warden sold 3,750 shares of the stock in a transaction on 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 sale, the chief executive officer now owns 212,852 shares in the company, valued at approximately $101,243,053.80. This represents a 1.73 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Benjamin R. Davies sold 464 shares of the firm’s stock in a transaction on Friday, February 28th. The shares were sold at an average price of $460.75, for a total value of $213,788.00. Following the completion of the sale, the vice president now owns 245 shares of the company’s stock, valued at approximately $112,883.75. This trade represents a 65.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 4,505 shares of company stock worth $2,126,405 in the last three months. Insiders own 0.22% of the company’s stock.

Northrop Grumman Stock Performance

Shares of NYSE:NOC opened at $513.95 on Friday. The company has a debt-to-equity ratio of 0.96, a current ratio of 1.01 and a quick ratio of 0.91. The business’s fifty day moving average price is $477.61 and its two-hundred day moving average price is $493.12. Northrop Grumman Co. has a fifty-two week low of $418.60 and a fifty-two week high of $555.57. The stock has a market capitalization 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.

Northrop Grumman (NYSE:NOC) last announced its earnings results on Thursday, January 30th. The aerospace company reported $6.39 earnings per share (EPS) for the quarter, topping 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%. As a group, analysts predict that Northrop Grumman Co. will post 28.05 EPS for the current fiscal year.

Northrop Grumman declared that its board has authorized a stock repurchase program on Wednesday, December 11th that authorizes the company to repurchase $3.00 billion in shares. This repurchase authorization authorizes the aerospace company to buy up to 4.3% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.

Northrop Grumman Announces Dividend

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

Analysts Set New Price Targets

NOC has been the subject of a number of recent research reports. StockNews.com cut shares of Northrop Grumman from a “strong-buy” rating to a “buy” rating in a report on Monday, February 3rd. Wolfe Research raised Northrop Grumman from an “underperform” rating to a “peer perform” rating in a research note on Monday, February 3rd. Susquehanna decreased their target price 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. UBS Group dropped their price target on shares of Northrop Grumman from $579.00 to $558.00 and set a “buy” rating on the stock in a research report on Friday, January 31st. Finally, Truist Financial assumed coverage on Northrop Grumman in a research report on Tuesday, January 14th. They issued a “buy” rating and a $544.00 price target on the stock. Eight research analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $545.06.

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.