Victory Capital Management Inc. Acquires 40,247 Shares of Northrop Grumman Co. (NYSE:NOC)

Victory Capital Management Inc. boosted its holdings in Northrop Grumman Co. (NYSE:NOC) by 81.8% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 89,439 shares of the aerospace company’s stock after acquiring an additional 40,247 shares during the quarter. Victory Capital Management Inc. owned 0.06% of Northrop Grumman worth $41,973,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Lockheed Martin Investment Management Co. lifted its position in 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 acquiring an additional 2,770 shares in the last quarter. 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. Y Intercept Hong Kong Ltd bought a new position in Northrop Grumman in the 3rd quarter valued at approximately $604,000. Fisher Asset Management LLC lifted its position in Northrop Grumman by 2.6% in the 3rd quarter. Fisher Asset Management LLC now owns 212,514 shares of the aerospace company’s stock valued at $112,222,000 after acquiring an additional 5,334 shares in the last quarter. Finally, Parsons Capital Management Inc. RI lifted its position in Northrop Grumman by 1,316.9% in the 4th quarter. Parsons Capital Management Inc. RI now owns 16,139 shares of the aerospace company’s stock valued at $7,574,000 after acquiring an additional 15,000 shares in the last quarter. 83.40% of the stock is owned by institutional investors.

Northrop Grumman Stock Up 2.5 %

NOC opened at $487.22 on Friday. The firm has a 50-day simple moving average of $469.88 and a two-hundred day simple moving average of $495.11. Northrop Grumman Co. has a 52 week low of $418.60 and a 52 week high of $555.57. The company has a market capitalization of $70.53 billion, a PE ratio of 17.19, a price-to-earnings-growth ratio of 3.73 and a beta of 0.31. The company has a quick ratio of 0.91, a current ratio of 1.01 and a debt-to-equity ratio of 0.96.

Northrop Grumman (NYSE:NOC) last released its quarterly earnings data 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%. Analysts forecast 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 approved a share buyback 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 shares through open market purchases. Shares repurchase plans are generally an indication that the company’s management believes its shares are undervalued.

Northrop Grumman Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 19th. Shareholders 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 1.69%. The ex-dividend date is Monday, March 3rd. Northrop Grumman’s dividend payout ratio (DPR) is presently 29.08%.

Insider Buying and Selling at Northrop Grumman

In related news, VP Benjamin R. Davies sold 464 shares of the stock in a transaction dated 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 transaction, the vice president now owns 245 shares of the company’s stock, valued at approximately $112,883.75. This trade represents a 65.44 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Kathy J. Warden sold 3,750 shares of the stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $475.65, for a total transaction of $1,783,687.50. Following the completion of the transaction, the chief executive officer now directly owns 212,852 shares of the company’s stock, valued at approximately $101,243,053.80. The trade was a 1.73 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 4,505 shares of company stock valued at $2,126,405 in the last 90 days. Insiders own 0.22% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have weighed in on NOC shares. Wolfe Research upgraded shares of Northrop Grumman from an “underperform” rating to a “peer perform” rating in a research note on Monday, February 3rd. Susquehanna decreased their target price on shares of Northrop Grumman from $625.00 to $557.00 and set a “positive” rating for the company in a research note on Wednesday, January 8th. Citigroup boosted their target price on shares of Northrop Grumman from $587.00 to $591.00 and gave the company a “buy” rating in a research note on Monday, February 10th. Argus upgraded shares of Northrop Grumman to a “strong-buy” rating in a research note on Wednesday, February 26th. Finally, StockNews.com lowered shares of Northrop Grumman from a “strong-buy” rating to a “buy” rating in a research note on Monday, February 3rd. Nine equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $542.88.

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.