Mizuho Securities USA LLC Purchases 4,066 Shares of Northrop Grumman Co. (NYSE:NOC)

Mizuho Securities USA LLC boosted its position in Northrop Grumman Co. (NYSE:NOC) by 45.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 12,980 shares of the aerospace company’s stock after purchasing an additional 4,066 shares during the quarter. Mizuho Securities USA LLC’s holdings in Northrop Grumman were worth $6,091,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Virtu Financial LLC lifted its position in Northrop Grumman by 7.4% during the 4th quarter. Virtu Financial LLC now owns 2,456 shares of the aerospace company’s stock valued at $1,153,000 after acquiring an additional 170 shares during the period. Quantbot Technologies LP increased its stake in shares of Northrop Grumman by 240.9% during the fourth quarter. Quantbot Technologies LP now owns 26,155 shares of the aerospace company’s stock valued at $12,274,000 after purchasing an additional 18,483 shares in the last quarter. Summit Global Investments lifted its holdings in shares of Northrop Grumman by 972.6% during the fourth quarter. Summit Global Investments now owns 18,224 shares of the aerospace company’s stock valued at $8,552,000 after purchasing an additional 16,525 shares during the last quarter. Magnetar Financial LLC bought a new stake in shares of Northrop Grumman in the 4th quarter worth approximately $297,000. Finally, Teacher Retirement System of Texas grew its stake in shares of Northrop Grumman by 74.4% in the 4th quarter. Teacher Retirement System of Texas now owns 156,149 shares of the aerospace company’s stock worth $73,279,000 after buying an additional 66,638 shares during the last quarter. Hedge funds and other institutional investors own 83.40% of the company’s stock.

Analyst Ratings Changes

NOC has been the topic of several analyst reports. Barclays dropped their target price on Northrop Grumman from $550.00 to $500.00 and set an “equal weight” rating on the stock in a report on Monday, January 6th. Wells Fargo & Company upped their price target on shares of Northrop Grumman from $545.00 to $547.00 and gave the stock an “overweight” rating in a research note on Friday, March 7th. Argus upgraded shares of Northrop Grumman to a “strong-buy” rating in a research note on Wednesday, February 26th. Truist Financial began coverage on shares of Northrop Grumman in a research note on Tuesday, January 14th. They issued a “buy” rating and a $544.00 target price on the stock. Finally, Susquehanna decreased their price objective 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. Nine investment 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. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $542.88.

Insider Transactions at Northrop Grumman

In other Northrop Grumman news, VP Benjamin R. Davies sold 464 shares of Northrop Grumman stock in a transaction that occurred on Friday, February 28th. The shares were sold at an average price of $460.75, for a total transaction of $213,788.00. Following the transaction, the vice president now owns 245 shares of the company’s stock, valued at $112,883.75. The trade was a 65.44 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 completion of the sale, 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 ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 4,505 shares of company stock valued at $2,126,405 over the last quarter. 0.22% of the stock is currently owned by company insiders.

Northrop Grumman Price Performance

NYSE NOC opened at $492.25 on Friday. 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 capitalization of $71.26 billion, a P/E ratio of 17.37, a PEG ratio of 3.73 and a beta of 0.31. The company has a 50-day moving average price of $475.18 and a 200-day moving average price of $493.32. Northrop Grumman Co. has a 52 week low of $418.60 and a 52 week high of $555.57.

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

Northrop Grumman Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 19th. Shareholders of record on Monday, March 3rd were given a $2.06 dividend. This represents a $8.24 dividend on an annualized basis and a yield of 1.67%. The ex-dividend date was Monday, March 3rd. Northrop Grumman’s payout ratio is 29.08%.

Northrop Grumman announced that its board has initiated a stock repurchase program on Wednesday, December 11th that allows the company to buyback $3.00 billion in shares. This buyback authorization allows the aerospace company to reacquire up to 4.3% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s management believes its stock is undervalued.

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.