Northrop Grumman Co. (NYSE:NOC) Shares Bought by Olympiad Research LP

Olympiad Research LP boosted its holdings in shares of Northrop Grumman Co. (NYSE:NOC) by 24.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 578 shares of the aerospace company’s stock after purchasing an additional 112 shares during the quarter. Olympiad Research LP’s holdings in Northrop Grumman were worth $271,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of NOC. PBMares Wealth Management LLC lifted its position in shares of Northrop Grumman by 0.5% during the 3rd quarter. PBMares Wealth Management LLC now owns 4,421 shares of the aerospace company’s stock valued at $2,335,000 after buying an additional 20 shares in the last quarter. Hudson Valley Investment Advisors Inc. ADV lifted its holdings in Northrop Grumman by 0.9% during 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 purchasing an additional 20 shares in the last quarter. Meeder Advisory Services Inc. lifted its holdings in Northrop Grumman by 0.9% during the third quarter. Meeder Advisory Services Inc. now owns 2,288 shares of the aerospace company’s stock valued at $1,208,000 after purchasing an additional 20 shares in the last quarter. Frank Rimerman Advisors LLC raised its holdings in Northrop Grumman by 1.1% in the 3rd quarter. Frank Rimerman Advisors LLC now owns 1,937 shares of the aerospace company’s stock valued at $1,023,000 after buying an additional 21 shares during the period. Finally, Thompson Siegel & Walmsley LLC lifted its position in Northrop Grumman by 0.3% in the third quarter. Thompson Siegel & Walmsley LLC now owns 8,320 shares of the aerospace company’s stock valued at $4,394,000 after buying an additional 21 shares during the last quarter. 83.40% of the stock is owned by institutional investors and hedge funds.

Northrop Grumman Price Performance

Shares of NOC opened at $448.59 on Monday. The firm has a market capitalization of $64.94 billion, a price-to-earnings ratio of 15.83, a PEG ratio of 3.73 and a beta of 0.35. The firm’s fifty day simple moving average is $471.03 and its 200-day simple moving average is $497.58. Northrop Grumman Co. has a twelve month low of $418.60 and a twelve month high of $555.57. The company has a current ratio of 1.01, a quick ratio of 0.91 and a debt-to-equity ratio of 0.96.

Northrop Grumman (NYSE:NOC) last posted its quarterly earnings results on Thursday, January 30th. The aerospace company reported $6.39 earnings per share for the quarter, beating analysts’ consensus estimates 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 EPS for the current fiscal year.

Northrop Grumman announced that its Board of Directors has authorized a stock repurchase program on Wednesday, December 11th that authorizes the company to buyback $3.00 billion in 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 generally a sign that the company’s management believes its shares are undervalued.

Northrop Grumman Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, March 19th. Investors of record on Monday, March 3rd will be issued a $2.06 dividend. This represents a $8.24 dividend on an annualized basis and a yield of 1.84%. The ex-dividend date is Monday, March 3rd. Northrop Grumman’s dividend payout ratio (DPR) is 29.08%.

Wall Street Analyst Weigh In

NOC has been the topic of a number of research analyst reports. StockNews.com downgraded shares of Northrop Grumman from a “strong-buy” rating to a “buy” rating in a research note on Monday, February 3rd. Truist Financial started coverage on Northrop Grumman in a research note on Tuesday, January 14th. They set a “buy” rating and a $544.00 price target on the stock. Citigroup raised their target price on Northrop Grumman from $587.00 to $591.00 and gave the company a “buy” rating in a report on Monday, February 10th. Susquehanna cut their price target on shares of Northrop Grumman from $625.00 to $557.00 and set a “positive” rating on the stock in a research note on Wednesday, January 8th. Finally, Barclays reduced their price target on shares of Northrop Grumman from $550.00 to $500.00 and set an “equal weight” rating on the stock in a research report on Monday, January 6th. Nine investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, Northrop Grumman has an average rating of “Moderate Buy” and an average target price of $544.56.

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.