National Pension Service Cuts Stock Position in Northrop Grumman Co. (NYSE:NOC)

National Pension Service cut its holdings in Northrop Grumman Co. (NYSE:NOC) by 16.7% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 297,870 shares of the aerospace company’s stock after selling 59,596 shares during the quarter. National Pension Service owned 0.21% of Northrop Grumman worth $139,787,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Hudson Valley Investment Advisors Inc. ADV increased its position in shares of Northrop Grumman by 0.9% in the third quarter. Hudson Valley Investment Advisors Inc. ADV now owns 2,262 shares of the aerospace company’s stock valued at $1,194,000 after buying an additional 20 shares in the last quarter. Meeder Advisory Services Inc. increased its position in shares of Northrop Grumman by 0.9% during the third quarter. Meeder Advisory Services Inc. now owns 2,288 shares of the aerospace company’s stock worth $1,208,000 after purchasing an additional 20 shares in the last quarter. Thompson Siegel & Walmsley LLC increased its position in shares of Northrop Grumman by 0.3% during the third quarter. Thompson Siegel & Walmsley LLC now owns 8,320 shares of the aerospace company’s stock worth $4,394,000 after purchasing an additional 21 shares in the last quarter. Sapient Capital LLC increased its position in shares of Northrop Grumman by 1.1% during the fourth quarter. Sapient Capital LLC now owns 2,049 shares of the aerospace company’s stock worth $962,000 after purchasing an additional 22 shares in the last quarter. Finally, Bank Pictet & Cie Europe AG increased its position in shares of Northrop Grumman by 2.2% during the fourth quarter. Bank Pictet & Cie Europe AG now owns 1,006 shares of the aerospace company’s stock worth $472,000 after purchasing an additional 22 shares in the last quarter. 83.40% of the stock is currently owned by hedge funds and other institutional investors.

Northrop Grumman Stock Performance

Shares of Northrop Grumman stock opened at $454.80 on Thursday. The business’s fifty day simple moving average is $469.74 and its 200-day simple moving average is $496.76. Northrop Grumman Co. has a 52 week low of $418.60 and a 52 week high of $555.57. The company has a quick ratio of 0.91, a current ratio of 1.01 and a debt-to-equity ratio of 0.96. The firm has a market cap of $65.84 billion, a PE ratio of 16.05, a price-to-earnings-growth ratio of 3.73 and a beta of 0.35.

Northrop Grumman (NYSE:NOC) last posted its earnings results on Thursday, January 30th. The aerospace company reported $6.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.27 by $0.12. Northrop Grumman had a return on equity of 26.24% and a net margin of 10.17%. Equities analysts forecast that Northrop Grumman Co. will post 28.05 earnings per share for the current year.

Northrop Grumman announced that its Board of Directors has authorized a stock buyback program on Wednesday, December 11th that authorizes the company to buyback $3.00 billion in outstanding shares. This buyback authorization authorizes the aerospace company to buy up to 4.3% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board of directors believes its shares are undervalued.

Northrop Grumman Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 19th. Investors 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 1.81%. The ex-dividend date is Monday, March 3rd. Northrop Grumman’s payout ratio is 29.08%.

Insider Buying and Selling

In related news, VP Benjamin R. Davies sold 192 shares of the stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $429.08, for a total transaction of $82,383.36. Following the transaction, the vice president now owns 709 shares of the company’s stock, valued at approximately $304,217.72. This represents a 21.31 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In the last 90 days, insiders have sold 291 shares of company stock valued at $129,184. Corporate insiders own 0.22% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently commented on NOC. Susquehanna dropped their price target 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 Northrop Grumman from $579.00 to $558.00 and set a “buy” rating for the company in a research report on Friday, January 31st. Wolfe Research upgraded Northrop Grumman from an “underperform” rating to a “peer perform” rating in a research report on Monday, February 3rd. StockNews.com cut Northrop Grumman from a “strong-buy” rating to a “buy” rating in a research report on Monday, February 3rd. Finally, Truist Financial began coverage on Northrop Grumman in a report on Tuesday, January 14th. They issued a “buy” rating and a $544.00 target price for the company. Nine analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $542.75.

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.