Kentucky Retirement Systems Has $4.43 Million Stock Holdings in Northrop Grumman Co. (NYSE:NOC)

Kentucky Retirement Systems lowered its stake in Northrop Grumman Co. (NYSE:NOC) by 1.4% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 9,447 shares of the aerospace company’s stock after selling 130 shares during the period. Kentucky Retirement Systems’ holdings in Northrop Grumman were worth $4,433,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Lockheed Martin Investment Management Co. grew its position in shares of Northrop Grumman by 19.9% in the fourth quarter. Lockheed Martin Investment Management Co. now owns 16,660 shares of the aerospace company’s stock valued at $7,818,000 after purchasing an additional 2,770 shares during the last quarter. Trinity Street Asset Management LLP boosted its stake 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 purchasing an additional 1,786 shares during the period. Y Intercept Hong Kong Ltd acquired a new position in Northrop Grumman in the 3rd quarter valued at $604,000. Fisher Asset Management LLC increased its position in Northrop Grumman by 2.6% during the 3rd quarter. Fisher Asset Management LLC now owns 212,514 shares of the aerospace company’s stock worth $112,222,000 after buying an additional 5,334 shares during the period. Finally, AIA Group Ltd lifted its holdings 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 worth $3,938,000 after buying an additional 1,242 shares in the last quarter. Institutional investors and hedge funds own 83.40% of the company’s stock.

Northrop Grumman Price Performance

Shares of NYSE:NOC opened at $448.59 on Friday. Northrop Grumman Co. has a one year low of $418.60 and a one year high of $555.57. 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 $64.94 billion, a price-to-earnings ratio of 15.83, a PEG ratio of 3.69 and a beta of 0.35. The firm has a 50 day simple moving average of $471.03 and a 200 day simple moving average of $497.45.

Northrop Grumman (NYSE:NOC) last released its quarterly earnings data on Thursday, January 30th. The aerospace company reported $6.39 earnings per share for the quarter, beating 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%. Research analysts predict that Northrop Grumman Co. will post 28.05 earnings per share for the current fiscal year.

Northrop Grumman declared that its Board of Directors has initiated a share repurchase plan on Wednesday, December 11th that allows the company to repurchase $3.00 billion in shares. This repurchase authorization allows the aerospace company to buy up to 4.3% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board of directors believes its shares are undervalued.

Northrop Grumman Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the stock. Susquehanna dropped their price target on shares of Northrop Grumman from $625.00 to $557.00 and set a “positive” rating for the company in a research report on Wednesday, January 8th. Barclays reduced 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 decreased their price target on Northrop Grumman from $595.00 to $574.00 and set an “overweight” rating on the stock in a research report on Friday, January 31st. Wolfe Research raised shares of Northrop Grumman from an “underperform” rating to a “peer perform” rating in a research report on Monday, February 3rd. Finally, Truist Financial began coverage on shares of Northrop Grumman in a report on Tuesday, January 14th. They issued a “buy” rating and a $544.00 target price on the stock. Nine analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat, Northrop Grumman currently has an average rating of “Moderate Buy” and an average target price of $544.56.

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.