Pacer Advisors Inc. Boosts Stock Holdings in Northrop Grumman Co. (NYSE:NOC)

Pacer Advisors Inc. lifted its holdings in Northrop Grumman Co. (NYSE:NOC) by 43.7% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 14,727 shares of the aerospace company’s stock after purchasing an additional 4,477 shares during the period. Pacer Advisors Inc.’s holdings in Northrop Grumman were worth $6,911,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of NOC. RPg Family Wealth Advisory LLC bought a new stake in Northrop Grumman during the 3rd quarter valued at $31,000. Albion Financial Group UT purchased a new stake in shares of Northrop Grumman during the 4th quarter worth $33,000. FSA Wealth Management LLC bought a new stake in Northrop Grumman during the third quarter valued at about $36,000. Modus Advisors LLC purchased a new position in Northrop Grumman in the fourth quarter valued at about $38,000. Finally, Catalyst Capital Advisors LLC bought a new position in Northrop Grumman in the third quarter worth about $40,000. 83.40% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, VP Benjamin R. Davies sold 1,156 shares of Northrop Grumman stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $532.93, for a total value of $616,067.08. Following the completion of the transaction, the vice president now owns 537 shares in the company, valued at $286,183.41. The trade was a 68.28 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Over the last quarter, insiders sold 1,255 shares of company stock worth $663,859. Company insiders own 0.22% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the stock. Royal Bank of Canada boosted their price objective on shares of Northrop Grumman from $500.00 to $540.00 and gave the stock a “sector perform” rating in a research note on Friday, October 25th. JPMorgan Chase & Co. increased their price objective on Northrop Grumman from $500.00 to $560.00 and gave the company a “neutral” rating in a report on Monday, October 14th. Wells Fargo & Company upgraded Northrop Grumman from an “equal weight” rating to an “overweight” rating and set a $595.00 target price on the stock in a research note on Wednesday, January 8th. Citigroup upgraded Northrop Grumman from a “neutral” rating to a “buy” rating and set a $587.00 price target for the company in a research note on Tuesday, January 21st. Finally, Truist Financial started coverage on Northrop Grumman in a research note on Tuesday, January 14th. They set a “buy” rating and a $544.00 price target on the stock. Eight investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Northrop Grumman currently has a consensus rating of “Moderate Buy” and a consensus price target of $550.94.

Northrop Grumman Price Performance

Shares of NYSE NOC opened at $481.56 on Thursday. The company has a debt-to-equity ratio of 1.00, a current ratio of 1.09 and a quick ratio of 0.97. The firm’s 50 day simple moving average is $478.87 and its 200-day simple moving average is $497.74. Northrop Grumman Co. has a 12 month low of $418.60 and a 12 month high of $555.57. The stock has a market capitalization of $70.16 billion, a price-to-earnings ratio of 29.84, a PEG ratio of 0.95 and a beta of 0.35.

Northrop Grumman declared that its Board of Directors has authorized a stock buyback program on Wednesday, December 11th that allows the company to buyback $3.00 billion in shares. This buyback authorization allows the aerospace company to repurchase up to 4.3% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s board of directors believes its stock is undervalued.

Northrop Grumman Announces Dividend

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

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.