QRG Capital Management Inc. Cuts Stock Holdings in Northrop Grumman Co. (NYSE:NOC)

QRG Capital Management Inc. reduced its position in Northrop Grumman Co. (NYSE:NOC) by 0.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,917 shares of the aerospace company’s stock after selling 65 shares during the period. QRG Capital Management Inc.’s holdings in Northrop Grumman were worth $3,715,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently added to or reduced their stakes in the company. Meeder Advisory Services Inc. increased its holdings in Northrop Grumman by 0.9% during the 3rd quarter. Meeder Advisory Services Inc. now owns 2,288 shares of the aerospace company’s stock worth $1,208,000 after purchasing an additional 20 shares during the period. Thompson Siegel & Walmsley LLC increased its stake in shares of Northrop Grumman by 0.3% during the third quarter. Thompson Siegel & Walmsley LLC now owns 8,320 shares of the aerospace company’s stock worth $4,394,000 after buying an additional 21 shares during the period. Sapient Capital LLC raised its holdings in Northrop Grumman by 1.1% in the fourth quarter. Sapient Capital LLC now owns 2,049 shares of the aerospace company’s stock valued at $962,000 after acquiring an additional 22 shares in the last quarter. Bank Pictet & Cie Europe AG raised its holdings in Northrop Grumman by 2.2% in the fourth quarter. Bank Pictet & Cie Europe AG now owns 1,006 shares of the aerospace company’s stock valued at $472,000 after acquiring an additional 22 shares in the last quarter. Finally, Mather Group LLC. lifted its stake in Northrop Grumman by 2.6% in the fourth quarter. Mather Group LLC. now owns 900 shares of the aerospace company’s stock worth $422,000 after acquiring an additional 23 shares during the last quarter. 83.40% of the stock is owned by hedge funds and other institutional investors.

Northrop Grumman Stock Performance

Shares of NOC opened at $461.74 on Friday. The stock has a market capitalization of $66.84 billion, a P/E ratio of 16.29, a P/E/G ratio of 3.73 and a beta of 0.35. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.91 and a current ratio of 1.01. Northrop Grumman Co. has a 1 year low of $418.60 and a 1 year high of $555.57. The company’s fifty day moving average is $469.44 and its two-hundred day moving average is $496.18.

Northrop Grumman (NYSE:NOC) last issued its quarterly earnings results on Thursday, January 30th. The aerospace company reported $6.39 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $6.27 by $0.12. Northrop Grumman had a net margin of 10.17% and a return on equity of 26.24%. On average, sell-side analysts predict that Northrop Grumman Co. will post 28.05 earnings per share for the current year.

Northrop Grumman announced that its board has approved a share repurchase program on Wednesday, December 11th that authorizes the company to buyback $3.00 billion in outstanding shares. This buyback authorization authorizes the aerospace company to reacquire up to 4.3% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s management believes its shares are undervalued.

Northrop Grumman Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, March 19th. Stockholders of record on Monday, March 3rd will be issued a $2.06 dividend. The ex-dividend date is Monday, March 3rd. This represents a $8.24 annualized dividend and a dividend yield of 1.78%. Northrop Grumman’s dividend payout ratio is currently 29.08%.

Insider Activity at Northrop Grumman

In other Northrop Grumman news, VP Benjamin R. Davies sold 192 shares of the firm’s stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $429.08, for a total value of $82,383.36. Following the completion of the sale, the vice president now owns 709 shares of the company’s stock, valued at approximately $304,217.72. This trade represents a 21.31 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have sold a total of 291 shares of company stock worth $129,184 over the last three months. 0.22% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the stock. Truist Financial started coverage on shares of Northrop Grumman in a report on Tuesday, January 14th. They issued a “buy” rating and a $544.00 price objective on the stock. Wells Fargo & Company decreased their price target on Northrop Grumman from $574.00 to $545.00 and set an “overweight” rating for the company in a report on Wednesday. StockNews.com downgraded Northrop Grumman from a “strong-buy” rating to a “buy” rating in a report on Monday, February 3rd. Susquehanna cut their target price on Northrop Grumman from $625.00 to $557.00 and set a “positive” rating on the stock in a research report on Wednesday, January 8th. Finally, UBS Group lowered their price target on Northrop Grumman from $579.00 to $558.00 and set a “buy” rating for the company in a report on Friday, January 31st. Nine investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $542.75.

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.