Swiss National Bank Lowers Stock Position in Northrop Grumman Co. (NYSE:NOC)

Swiss National Bank lessened its stake in shares of Northrop Grumman Co. (NYSE:NOC) by 5.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 392,445 shares of the aerospace company’s stock after selling 24,800 shares during the quarter. Swiss National Bank’s holdings in Northrop Grumman were worth $184,171,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of the stock. Wellington Management Group LLP boosted its stake in Northrop Grumman by 0.4% during the third quarter. Wellington Management Group LLP now owns 4,140,892 shares of the aerospace company’s stock worth $2,186,681,000 after buying an additional 17,596 shares during the period. Geode Capital Management LLC lifted its position in shares of Northrop Grumman by 0.6% during the third quarter. Geode Capital Management LLC now owns 3,003,360 shares of the aerospace company’s stock worth $1,581,644,000 after purchasing an additional 18,791 shares in the last quarter. Franklin Resources Inc. lifted its position in shares of Northrop Grumman by 6.2% during the third 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. Charles Schwab Investment Management Inc. lifted its position in shares of Northrop Grumman by 2.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 832,463 shares of the aerospace company’s stock worth $390,667,000 after purchasing an additional 23,018 shares in the last quarter. Finally, Two Sigma Advisers LP lifted its position in shares of 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 in the last quarter. Hedge funds and other institutional investors own 83.40% of the company’s stock.

Northrop Grumman Stock Up 3.4 %

NOC opened at $491.20 on Friday. Northrop Grumman Co. has a 12 month low of $418.60 and a 12 month high of $555.57. 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 has a 50 day simple moving average of $471.57 and a 200-day simple moving average of $494.67. The stock has a market capitalization of $71.10 billion, a P/E ratio of 17.33, a P/E/G ratio of 3.73 and a beta of 0.31.

Northrop Grumman (NYSE:NOC) last issued its earnings results 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%. On average, equities analysts anticipate that Northrop Grumman Co. will post 28.05 earnings per share for the current fiscal year.

Northrop Grumman Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 19th. Stockholders of record on Monday, March 3rd will be paid 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 dividend yield of 1.68%. Northrop Grumman’s dividend payout ratio (DPR) is 29.08%.

Northrop Grumman declared that its board has authorized a stock buyback plan on Wednesday, December 11th that allows the company to buyback $3.00 billion in outstanding shares. This buyback authorization allows 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 management believes its stock is undervalued.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on NOC shares. Citigroup increased their price target on shares of Northrop Grumman from $587.00 to $591.00 and gave the stock a “buy” rating in a research report on Monday, February 10th. Argus raised shares of Northrop Grumman to a “strong-buy” rating in a research report on Wednesday, February 26th. UBS Group reduced their target price on shares of Northrop Grumman from $579.00 to $558.00 and set a “buy” rating on the stock in a report on Friday, January 31st. Barclays reduced their target price on shares of Northrop Grumman from $550.00 to $500.00 and set an “equal weight” rating on the stock in a report on Monday, January 6th. Finally, Truist Financial initiated 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. Nine 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. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $542.88.

Insider Transactions at Northrop Grumman

In related news, CEO Kathy J. Warden sold 3,750 shares of the firm’s stock in a transaction that occurred on Thursday, March 6th. The shares were 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 trade represents a 1.73 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Benjamin R. Davies sold 464 shares of the firm’s stock in a transaction that occurred on Friday, February 28th. The stock was sold at an average price of $460.75, for a total transaction of $213,788.00. Following the sale, the vice president now owns 245 shares in the company, valued at approximately $112,883.75. This trade represents a 65.44 % 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 in the last ninety days. Corporate insiders own 0.22% of the company’s stock.

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.