AustralianSuper Pty Ltd Lowers Stake in Northrop Grumman Co. (NYSE:NOC)

AustralianSuper Pty Ltd lowered its stake in shares of Northrop Grumman Co. (NYSE:NOC) by 13.1% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 4,303 shares of the aerospace company’s stock after selling 651 shares during the period. AustralianSuper Pty Ltd’s holdings in Northrop Grumman were worth $2,019,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in NOC. Two Sigma Advisers LP boosted its position in shares of Northrop Grumman by 102.6% during the 3rd quarter. Two Sigma Advisers LP now owns 735,600 shares of the aerospace company’s stock worth $388,448,000 after purchasing an additional 372,500 shares during the period. Franklin Resources Inc. boosted its position in shares of Northrop Grumman by 6.2% during the 3rd quarter. Franklin Resources Inc. now owns 2,426,270 shares of the aerospace company’s stock worth $1,315,729,000 after purchasing an additional 141,816 shares during the period. Wedge Capital Management L L P NC purchased a new position in shares of Northrop Grumman during the 4th quarter worth approximately $66,171,000. International Assets Investment Management LLC purchased a new position in shares of Northrop Grumman during the 4th quarter worth approximately $622,000. Finally, National Bank of Canada FI boosted its position in shares of Northrop Grumman by 154.7% during the 3rd quarter. National Bank of Canada FI now owns 157,601 shares of the aerospace company’s stock worth $83,224,000 after purchasing an additional 95,724 shares during the period. Hedge funds and other institutional investors own 83.40% of the company’s stock.

Northrop Grumman Price Performance

Shares of NYSE:NOC opened at $438.70 on Friday. The company’s fifty day moving average price is $474.95 and its 200 day moving average price is $499.19. Northrop Grumman Co. has a 12 month low of $418.60 and a 12 month high of $555.57. The company has a debt-to-equity ratio of 0.96, a current ratio of 1.01 and a quick ratio of 0.91. The firm has a market capitalization of $63.51 billion, a P/E ratio of 15.48, a P/E/G ratio of 3.00 and a beta of 0.35.

Northrop Grumman (NYSE:NOC) last announced its quarterly earnings results on Thursday, January 30th. The aerospace company reported $6.39 EPS 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%. As a group, sell-side analysts predict 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 initiated a stock buyback program on Wednesday, December 11th that allows the company to buyback $3.00 billion in outstanding 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 a sign that the company’s board believes its stock is undervalued.

Northrop Grumman Announces Dividend

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

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the stock. Barclays reduced 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. Susquehanna reduced their target price on shares of Northrop Grumman from $625.00 to $557.00 and set a “positive” rating on the stock in a report on Wednesday, January 8th. Citigroup increased their target price on shares of Northrop Grumman from $587.00 to $591.00 and gave the stock a “buy” rating in a report on Monday, February 10th. Royal Bank of Canada increased their target price on shares of Northrop Grumman from $500.00 to $540.00 and gave the stock a “sector perform” rating in a report on Friday, October 25th. Finally, Wolfe Research upgraded shares of Northrop Grumman from an “underperform” rating to a “peer perform” rating in a report on Monday, February 3rd. Nine research 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 has an average rating of “Moderate Buy” and a consensus target price of $544.56.

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.