State of New Jersey Common Pension Fund D Cuts Stock Position in Northrop Grumman Co. (NYSE:NOC)

State of New Jersey Common Pension Fund D lessened its stake in Northrop Grumman Co. (NYSE:NOC) by 2.4% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 50,541 shares of the aerospace company’s stock after selling 1,225 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Northrop Grumman were worth $23,718,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. RPg Family Wealth Advisory LLC purchased a new stake in shares of Northrop Grumman during the third quarter worth $31,000. Albion Financial Group UT purchased a new stake in shares of Northrop Grumman during the fourth quarter worth $33,000. FSA Wealth Management LLC purchased a new stake in shares of Northrop Grumman during the third quarter worth $36,000. Modus Advisors LLC purchased a new stake in shares of Northrop Grumman during the fourth quarter worth $38,000. Finally, Catalyst Capital Advisors LLC purchased a new stake in shares of Northrop Grumman during the third quarter worth $40,000. Hedge funds and other institutional investors own 83.40% of the company’s stock.

Northrop Grumman Trading Down 3.6 %

NYSE:NOC opened at $438.70 on Monday. The firm has a market cap of $63.51 billion, a PE ratio of 15.48, a price-to-earnings-growth ratio of 3.00 and a beta of 0.35. The stock has a fifty day moving average price of $474.95 and a 200 day moving average price of $499.28. Northrop Grumman Co. has a 12-month low of $418.60 and a 12-month high of $555.57. The company has a current ratio of 1.01, a quick ratio of 0.91 and a debt-to-equity ratio of 0.96.

Northrop Grumman (NYSE:NOC) last released its earnings results on Thursday, January 30th. The aerospace company reported $6.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $6.27 by $0.12. Northrop Grumman had a return on equity of 26.24% and a net margin of 10.17%. Sell-side analysts anticipate that Northrop Grumman Co. will post 27.94 earnings per share for the current fiscal year.

Northrop Grumman declared that its Board of Directors has approved a stock buyback plan on Wednesday, December 11th that authorizes the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization authorizes the aerospace company to repurchase up to 4.3% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s leadership believes its stock is undervalued.

Northrop Grumman Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, December 18th. Stockholders of record on Monday, December 2nd were given a dividend of $2.06 per share. This represents a $8.24 annualized dividend and a dividend yield of 1.88%. The ex-dividend date was Monday, December 2nd. Northrop Grumman’s dividend payout ratio (DPR) is presently 29.08%.

Analyst Upgrades and Downgrades

NOC has been the topic of several recent research reports. Barclays lowered their price target on shares of Northrop Grumman from $550.00 to $500.00 and set an “equal weight” rating on the stock in a research report on Monday, January 6th. StockNews.com cut shares of Northrop Grumman from a “strong-buy” rating to a “buy” rating in a research report on Monday, February 3rd. Truist Financial initiated coverage on shares of Northrop Grumman in a research report on Tuesday, January 14th. They set a “buy” rating and a $544.00 price target on the stock. Citigroup boosted their price target on shares of Northrop Grumman from $587.00 to $591.00 and gave the company a “buy” rating in a research report on Monday, February 10th. Finally, Susquehanna lowered their price target on shares of Northrop Grumman from $625.00 to $557.00 and set a “positive” rating on the stock in a research report on Wednesday, January 8th. Nine investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat.com, Northrop Grumman presently has a consensus rating of “Moderate Buy” and a consensus target price of $544.56.

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.