MassMutual Private Wealth & Trust FSB Acquires 519 Shares of Northrop Grumman Co. (NYSE:NOC)

MassMutual Private Wealth & Trust FSB raised its stake in Northrop Grumman Co. (NYSE:NOC) by 1.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 27,156 shares of the aerospace company’s stock after acquiring an additional 519 shares during the period. MassMutual Private Wealth & Trust FSB’s holdings in Northrop Grumman were worth $12,744,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Y Intercept Hong Kong Ltd purchased a new stake in Northrop Grumman during the 3rd quarter valued at about $604,000. Fisher Asset Management LLC grew its holdings in shares of Northrop Grumman by 2.6% during the third quarter. Fisher Asset Management LLC now owns 212,514 shares of the aerospace company’s stock valued at $112,222,000 after buying an additional 5,334 shares during the last quarter. AIA Group Ltd increased its position 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 valued at $3,938,000 after acquiring an additional 1,242 shares in the last quarter. Aviso Wealth Management raised its holdings in Northrop Grumman by 110.7% in the 2nd quarter. Aviso Wealth Management now owns 1,896 shares of the aerospace company’s stock worth $827,000 after acquiring an additional 996 shares during the last quarter. Finally, Trinity Street Asset Management LLP lifted its position in Northrop Grumman by 3.8% in the 4th quarter. Trinity Street Asset Management LLP now owns 48,367 shares of the aerospace company’s stock valued at $22,698,000 after acquiring an additional 1,786 shares in the last quarter. 83.40% of the stock is currently owned by institutional investors.

Northrop Grumman Stock Performance

NOC opened at $482.49 on Monday. The company has a 50 day simple moving average of $480.55 and a two-hundred day simple moving average of $494.10. The company has a debt-to-equity ratio of 1.00, a current ratio of 1.09 and a quick ratio of 0.97. The firm has a market cap of $70.30 billion, a P/E ratio of 29.89, a PEG ratio of 0.87 and a beta of 0.35. Northrop Grumman Co. has a 1-year low of $418.60 and a 1-year high of $555.57.

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

Northrop Grumman declared that its board has approved a stock buyback plan 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 plans are usually a sign that the company’s leadership believes its shares are undervalued.

Northrop Grumman Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, December 18th. Shareholders of record on Monday, December 2nd were paid 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 payout ratio is currently 51.05%.

Insider Buying and Selling at Northrop Grumman

In other news, VP Benjamin R. Davies sold 1,156 shares of the stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $532.93, for a total transaction of $616,067.08. Following the completion of the transaction, the vice president now directly owns 537 shares in the company, valued at approximately $286,183.41. This represents a 68.28 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders sold 1,255 shares of company stock valued at $663,859 in the last 90 days. Insiders own 0.22% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the company. Wells Fargo & Company upgraded Northrop Grumman from an “equal weight” rating to an “overweight” rating and set a $595.00 price target for the company in a research note on Wednesday, January 8th. TD Cowen raised Northrop Grumman to a “hold” rating in a research report on Tuesday, October 8th. Truist Financial started coverage on shares of Northrop Grumman in a research note on Tuesday, January 14th. They issued a “buy” rating and a $544.00 price target for the company. Citigroup increased their price objective on shares of Northrop Grumman from $521.00 to $587.00 and gave the company a “neutral” rating in a research report on Thursday, October 10th. Finally, UBS Group lifted their target price on shares of Northrop Grumman from $614.00 to $643.00 and gave the stock a “buy” rating in a research report on Friday, October 25th. Nine analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $550.94.

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.