Northrop Grumman Co. (NYSE:NOC) Shares Purchased by Trinity Street Asset Management LLP

Trinity Street Asset Management LLP boosted its stake in shares of Northrop Grumman Co. (NYSE:NOC) by 3.8% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 48,367 shares of the aerospace company’s stock after acquiring an additional 1,786 shares during the period. Northrop Grumman comprises about 2.2% of Trinity Street Asset Management LLP’s holdings, making the stock its 11th biggest holding. Trinity Street Asset Management LLP’s holdings in Northrop Grumman were worth $22,698,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in NOC. Y Intercept Hong Kong Ltd acquired a new stake in shares of Northrop Grumman in the third quarter worth approximately $604,000. Fisher Asset Management LLC boosted its stake in Northrop Grumman by 2.6% during the 3rd quarter. Fisher Asset Management LLC now owns 212,514 shares of the aerospace company’s stock worth $112,222,000 after purchasing an additional 5,334 shares during the last quarter. AIA Group Ltd grew its holdings in shares of Northrop Grumman by 20.0% during the third quarter. AIA Group Ltd now owns 7,458 shares of the aerospace company’s stock worth $3,938,000 after buying an additional 1,242 shares in the last quarter. Aviso Wealth Management raised its position in shares of Northrop Grumman by 110.7% in the second quarter. Aviso Wealth Management now owns 1,896 shares of the aerospace company’s stock valued at $827,000 after buying an additional 996 shares during the last quarter. Finally, Susquehanna International Securities Ltd. purchased a new position in shares of Northrop Grumman in the second quarter worth about $1,133,000. 83.40% of the stock is owned by hedge funds and other institutional investors.

Northrop Grumman Stock Performance

Shares of NOC stock opened at $482.49 on Friday. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.97 and a current ratio of 1.09. The firm has a market cap of $70.30 billion, a P/E ratio of 29.89, a P/E/G ratio of 0.87 and a beta of 0.35. The firm’s 50 day moving average price is $481.48 and its 200-day moving average price is $493.38. Northrop Grumman Co. has a one year low of $418.60 and a one year high of $555.57.

Northrop Grumman (NYSE:NOC) last released its quarterly earnings results on Thursday, October 24th. The aerospace company reported $7.00 EPS for the quarter, topping analysts’ consensus estimates of $6.07 by $0.93. Northrop Grumman had a return on equity of 26.57% and a net margin of 5.79%. The company had revenue of $10 billion for the quarter, compared to analysts’ expectations of $10.18 billion. During the same period in the prior year, the firm earned $6.18 earnings per share. The firm’s revenue was up 2.3% compared to the same quarter last year. As a group, equities research analysts predict that Northrop Grumman Co. will post 25.93 EPS for the current year.

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

Northrop Grumman Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, December 18th. Shareholders of record on Monday, December 2nd were given a $2.06 dividend. This represents a $8.24 annualized dividend and a yield of 1.71%. The ex-dividend date was Monday, December 2nd. Northrop Grumman’s dividend payout ratio is currently 51.05%.

Insiders Place Their Bets

In other Northrop Grumman news, VP Benjamin R. Davies sold 1,156 shares of the firm’s stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $532.93, for a total value of $616,067.08. Following the completion of the transaction, the vice president now owns 537 shares of the company’s stock, valued at $286,183.41. This trade represents a 68.28 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Insiders have sold 1,255 shares of company stock worth $663,859 over the last three months. Company insiders own 0.22% of the company’s stock.

Wall Street Analysts Forecast Growth

NOC has been the subject of a number of recent research reports. Royal Bank of Canada increased their price objective on shares of Northrop Grumman from $500.00 to $540.00 and gave the company a “sector perform” rating in a report on Friday, October 25th. Wells Fargo & Company raised Northrop Grumman from an “equal weight” rating to an “overweight” rating and set a $595.00 price target for the company in a report on Wednesday, January 8th. Barclays lowered their price objective on Northrop Grumman from $550.00 to $500.00 and set an “equal weight” rating on the stock in a research note on Monday, January 6th. TD Cowen raised Northrop Grumman to a “hold” rating in a research note on Tuesday, October 8th. Finally, UBS Group boosted their price target on shares of Northrop Grumman from $614.00 to $643.00 and gave the company a “buy” rating in a research report on Friday, October 25th. Nine equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $550.94.

Northrop Grumman Company 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.