Northrop Grumman Co. (NYSE:NOC) Shares Bought by McDonough Capital Management Inc

McDonough Capital Management Inc grew its stake in shares of Northrop Grumman Co. (NYSE:NOC) by 19.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,493 shares of the aerospace company’s stock after acquiring an additional 560 shares during the period. Northrop Grumman comprises approximately 1.0% of McDonough Capital Management Inc’s holdings, making the stock its 18th biggest position. McDonough Capital Management Inc’s holdings in Northrop Grumman were worth $1,639,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also modified their holdings of the company. Lockheed Martin Investment Management Co. boosted its holdings in shares of Northrop Grumman by 19.9% in the 4th quarter. Lockheed Martin Investment Management Co. now owns 16,660 shares of the aerospace company’s stock valued at $7,818,000 after buying an additional 2,770 shares during the period. Trinity Street Asset Management LLP boosted its holdings in shares of 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 buying an additional 1,786 shares during the period. Y Intercept Hong Kong Ltd acquired a new position in shares of Northrop Grumman in the 3rd quarter valued at about $604,000. Fisher Asset Management LLC boosted its stake 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 valued at $112,222,000 after purchasing an additional 5,334 shares during the period. Finally, AIA Group Ltd boosted its stake in Northrop Grumman by 20.0% during the 3rd quarter. AIA Group Ltd now owns 7,458 shares of the aerospace company’s stock valued at $3,938,000 after purchasing an additional 1,242 shares during the period. 83.40% of the stock is owned by institutional investors and hedge funds.

Northrop Grumman Stock Up 2.3 %

NOC stock opened at $474.71 on Thursday. Northrop Grumman Co. has a 12 month low of $418.60 and a 12 month high of $555.57. The firm has a market cap of $68.72 billion, a PE ratio of 16.75, a P/E/G ratio of 3.73 and a beta of 0.35. The firm has a 50 day simple moving average of $469.50 and a 200 day simple moving average of $495.46. The company has a debt-to-equity ratio of 0.96, a current ratio of 1.01 and a quick ratio of 0.91.

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

Northrop Grumman Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 19th. Investors of record on Monday, March 3rd will be paid a dividend of $2.06 per share. This represents a $8.24 annualized dividend and a yield of 1.74%. The ex-dividend date of this dividend is Monday, March 3rd. Northrop Grumman’s dividend payout ratio is presently 29.08%.

Northrop Grumman announced that its Board of Directors has approved a stock buyback plan on Wednesday, December 11th that permits the company to repurchase $3.00 billion in shares. This repurchase authorization permits the aerospace company to reacquire up to 4.3% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s board believes its shares are undervalued.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on NOC. Truist Financial began coverage on shares of Northrop Grumman in a research note on Tuesday, January 14th. They set a “buy” rating and a $544.00 target price for the company. UBS Group reduced their target price on shares of Northrop Grumman from $579.00 to $558.00 and set a “buy” rating for the company in a research note on Friday, January 31st. Wells Fargo & Company reduced their target price on shares of Northrop Grumman from $574.00 to $545.00 and set an “overweight” rating for the company in a research note on Wednesday, February 26th. Barclays reduced their target price on shares of Northrop Grumman from $550.00 to $500.00 and set an “equal weight” rating for the company in a research note on Monday, January 6th. Finally, Argus raised shares of Northrop Grumman to a “strong-buy” rating in a research note on Wednesday, February 26th. Nine equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Northrop Grumman presently has an average rating of “Moderate Buy” and a consensus price target of $542.75.

Insider Activity at Northrop Grumman

In related news, VP Benjamin R. Davies sold 464 shares of the company’s stock in a transaction that occurred on Friday, February 28th. The shares were sold at an average price of $460.75, for a total value of $213,788.00. Following the completion of the sale, the vice president now owns 245 shares in the company, valued at approximately $112,883.75. This represents a 65.44 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders sold a total of 722 shares of company stock valued at $327,086 over the last ninety days. Insiders own 0.22% of the company’s stock.

About Northrop Grumman

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.