Yacktman Asset Management LP trimmed its holdings in Northrop Grumman Co. (NYSE:NOC – Free Report) by 22.9% during the fourth quarter, Holdings Channel reports. The institutional investor owned 286,770 shares of the aerospace company’s stock after selling 84,990 shares during the quarter. Northrop Grumman makes up about 1.6% of Yacktman Asset Management LP’s holdings, making the stock its 24th largest position. Yacktman Asset Management LP’s holdings in Northrop Grumman were worth $134,578,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. RPg Family Wealth Advisory LLC acquired a new position in Northrop Grumman during the 3rd quarter valued at about $31,000. Albion Financial Group UT purchased a new position in shares of Northrop Grumman during the fourth quarter valued at approximately $33,000. FSA Wealth Management LLC bought a new stake in Northrop Grumman during the third quarter worth $36,000. Modus Advisors LLC purchased a new stake in Northrop Grumman in the 4th quarter valued at $38,000. Finally, Catalyst Capital Advisors LLC bought a new position in Northrop Grumman during the 3rd quarter valued at $40,000. 83.40% of the stock is owned by institutional investors.
Northrop Grumman Trading Up 1.1 %
NYSE:NOC opened at $473.94 on Tuesday. Northrop Grumman Co. has a 1 year low of $418.60 and a 1 year high of $555.57. The stock’s fifty day moving average price is $476.91 and its two-hundred day moving average price is $500.01. 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 company has a market cap of $68.61 billion, a P/E ratio of 16.72, a P/E/G ratio of 3.00 and a beta of 0.35.
Northrop Grumman announced that its board has initiated a stock buyback program on Wednesday, December 11th that permits the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization permits the aerospace company to repurchase 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 company also recently disclosed a quarterly dividend, which was paid on Wednesday, December 18th. Investors of record on Monday, December 2nd were paid a dividend of $2.06 per share. The ex-dividend date of this dividend was Monday, December 2nd. This represents a $8.24 annualized dividend and a yield of 1.74%. Northrop Grumman’s dividend payout ratio is currently 29.08%.
Analyst Ratings Changes
A number of research firms recently weighed in on NOC. Truist Financial began coverage on shares of Northrop Grumman in a research report on Tuesday, January 14th. They set a “buy” rating and a $544.00 price target on the stock. Susquehanna cut their target price on Northrop Grumman from $625.00 to $557.00 and set a “positive” rating on the stock in a research note on Wednesday, January 8th. Barclays dropped their price target 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 reduced their price objective on Northrop Grumman from $595.00 to $574.00 and set an “overweight” rating for the company in a research note on Friday, January 31st. Finally, Citigroup boosted their price target on shares of Northrop Grumman from $587.00 to $591.00 and gave the stock a “buy” rating in a report on Monday. Nine analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, Northrop Grumman presently has a consensus rating of “Moderate Buy” and a consensus price target of $544.56.
View Our Latest Stock Report on NOC
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.
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