Northrop Grumman Co. (NYSE:NOC) Shares Purchased by Franklin Resources Inc.

Franklin Resources Inc. increased its stake in shares of Northrop Grumman Co. (NYSE:NOC) by 6.2% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,426,270 shares of the aerospace company’s stock after purchasing an additional 141,816 shares during the quarter. Franklin Resources Inc. owned 1.67% of Northrop Grumman worth $1,315,729,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of NOC. RPg Family Wealth Advisory LLC acquired a new position in Northrop Grumman during the 3rd quarter worth $31,000. Meeder Asset Management Inc. grew its stake in Northrop Grumman by 245.5% during the 2nd quarter. Meeder Asset Management Inc. now owns 76 shares of the aerospace company’s stock worth $33,000 after purchasing an additional 54 shares in the last quarter. FSA Wealth Management LLC acquired a new position in shares of Northrop Grumman during the 3rd quarter worth about $36,000. Catalyst Capital Advisors LLC acquired a new position in shares of Northrop Grumman during the 3rd quarter worth about $40,000. Finally, Strategic Financial Concepts LLC acquired a new position in shares of Northrop Grumman during the 2nd quarter worth about $47,000. 83.40% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other Northrop Grumman news, VP Benjamin R. Davies sold 1,156 shares of the business’s stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $532.93, for a total transaction of $616,067.08. Following the completion of the sale, the vice president now owns 537 shares of the company’s stock, valued at approximately $286,183.41. The trade was a 68.28 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders sold a total of 1,255 shares of company stock valued at $666,461 over the last quarter. Company insiders own 0.22% of the company’s stock.

Northrop Grumman Stock Performance

Northrop Grumman stock opened at $481.51 on Friday. The company has a market capitalization of $70.16 billion, a price-to-earnings ratio of 29.83, a PEG ratio of 0.96 and a beta of 0.33. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.97 and a current ratio of 1.09. Northrop Grumman Co. has a fifty-two week low of $418.60 and a fifty-two week high of $555.57. The stock has a fifty day moving average of $507.90 and a two-hundred day moving average of $487.88.

Northrop Grumman (NYSE:NOC) last announced its quarterly earnings data on Thursday, October 24th. The aerospace company reported $7.00 EPS for the quarter, beating analysts’ consensus estimates of $6.07 by $0.93. The business had revenue of $10 billion during the quarter, compared to the consensus estimate of $10.18 billion. Northrop Grumman had a return on equity of 26.57% and a net margin of 5.79%. The business’s revenue for the quarter was up 2.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $6.18 earnings per share. On average, analysts anticipate that Northrop Grumman Co. will post 25.93 EPS for the current fiscal year.

Northrop Grumman announced that its board has initiated a share buyback plan on Wednesday, December 11th that permits the company to buyback $3.00 billion in shares. This buyback authorization permits the aerospace company to reacquire up to 4.3% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s management believes its shares are undervalued.

Northrop Grumman Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 18th. Stockholders of record on Monday, December 2nd will be given a $2.06 dividend. This represents a $8.24 dividend on an annualized basis and a dividend yield of 1.71%. The ex-dividend date is Monday, December 2nd. Northrop Grumman’s dividend payout ratio is currently 51.05%.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the company. Susquehanna upped their price objective on Northrop Grumman from $560.00 to $625.00 and gave the stock a “positive” rating in a research report on Friday, October 25th. Citigroup upped their price objective on Northrop Grumman from $521.00 to $587.00 and gave the stock a “neutral” rating in a research report on Thursday, October 10th. StockNews.com raised Northrop Grumman from a “buy” rating to a “strong-buy” rating in a research report on Friday, December 6th. Royal Bank of Canada upped their price objective on Northrop Grumman from $500.00 to $540.00 and gave the stock a “sector perform” rating in a research report on Friday, October 25th. Finally, TD Cowen raised Northrop Grumman to a “hold” rating in a research report on Tuesday, October 8th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $546.81.

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.