Northrop Grumman Co. (NYSE:NOC) Stake Raised by Clearbridge Investments LLC

Clearbridge Investments LLC increased its holdings in Northrop Grumman Co. (NYSE:NOC) by 21.5% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 967,335 shares of the aerospace company’s stock after buying an additional 170,976 shares during the quarter. Clearbridge Investments LLC owned about 0.67% of Northrop Grumman worth $453,961,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Whipplewood Advisors LLC bought a new stake in shares of Northrop Grumman during the 4th quarter worth about $31,000. Albion Financial Group UT bought a new stake in Northrop Grumman during the fourth quarter worth approximately $33,000. FSA Wealth Management LLC acquired a new stake in Northrop Grumman in the third quarter worth approximately $36,000. Modus Advisors LLC acquired a new position in shares of Northrop Grumman during the 4th quarter valued at $38,000. Finally, Stonebridge Financial Group LLC bought a new stake in shares of Northrop Grumman in the 4th quarter worth $42,000. 83.40% of the stock is currently owned by institutional investors and hedge funds.

Northrop Grumman Stock Performance

NOC stock opened at $511.86 on Friday. 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 Co. has a twelve month low of $418.60 and a twelve month high of $555.57. The business’s fifty day moving average is $478.20 and its 200-day moving average is $492.84. The company has a market cap of $74.09 billion, a P/E ratio of 18.06, a price-to-earnings-growth ratio of 3.73 and a beta of 0.31.

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, topping 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 EPS for the current year.

Northrop Grumman announced that its Board of Directors has initiated a stock repurchase plan on Wednesday, December 11th that allows the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization allows the aerospace company to repurchase up to 4.3% of its stock through open market purchases. Stock repurchase plans are often 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 was paid on Wednesday, March 19th. Stockholders of record on Monday, March 3rd were given a dividend of $2.06 per share. This represents a $8.24 dividend on an annualized basis and a dividend yield of 1.61%. The ex-dividend date was Monday, March 3rd. Northrop Grumman’s dividend payout ratio is currently 29.08%.

Insider Activity

In other Northrop Grumman news, CEO Kathy J. Warden sold 3,750 shares of the company’s stock in a transaction that occurred on Thursday, March 6th. The stock was 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 owns 212,852 shares of the company’s stock, valued at $101,243,053.80. This represents a 1.73 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Benjamin R. Davies sold 464 shares of Northrop Grumman stock in a transaction that occurred on Friday, February 28th. The shares were sold at an average price of $460.75, for a total transaction of $213,788.00. Following the completion of the sale, the vice president now owns 245 shares in the company, valued at $112,883.75. This trade represents a 65.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 4,505 shares of company stock worth $2,126,405 in the last 90 days. Corporate insiders own 0.22% of the company’s stock.

Analyst Upgrades and Downgrades

NOC has been the topic of a number of research analyst reports. Wells Fargo & Company lifted their target price on Northrop Grumman from $545.00 to $547.00 and gave the stock an “overweight” rating in a report on Friday, March 7th. Barclays dropped their target price on shares of Northrop Grumman from $550.00 to $500.00 and set an “equal weight” rating on the stock in a report on Monday, January 6th. Argus raised shares of Northrop Grumman to a “strong-buy” rating in a research note on Wednesday, February 26th. Citigroup lifted their price target on shares of Northrop Grumman from $587.00 to $591.00 and gave the stock a “buy” rating in a research report on Monday, February 10th. Finally, Truist Financial began coverage on Northrop Grumman in a research report on Tuesday, January 14th. They set a “buy” rating and a $544.00 price objective for the company. Eight equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $545.06.

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.