Smartleaf Asset Management LLC Increases Stake in Northrop Grumman Co. (NYSE:NOC)

Smartleaf Asset Management LLC increased its position in Northrop Grumman Co. (NYSE:NOC) by 40.6% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 1,275 shares of the aerospace company’s stock after acquiring an additional 368 shares during the quarter. Smartleaf Asset Management LLC’s holdings in Northrop Grumman were worth $595,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the company. Jacobi Capital Management LLC grew its holdings in Northrop Grumman by 1.2% during the 4th quarter. Jacobi Capital Management LLC now owns 1,987 shares of the aerospace company’s stock valued at $933,000 after buying an additional 23 shares in the last quarter. Metis Global Partners LLC grew its holdings in Northrop Grumman by 2.3% during the 4th quarter. Metis Global Partners LLC now owns 6,020 shares of the aerospace company’s stock valued at $2,825,000 after buying an additional 133 shares in the last quarter. SVB Wealth LLC purchased a new position in Northrop Grumman during the 4th quarter valued at about $1,730,000. Motco grew its holdings in Northrop Grumman by 1.3% during the 4th quarter. Motco now owns 11,862 shares of the aerospace company’s stock valued at $5,567,000 after buying an additional 150 shares in the last quarter. Finally, First American Bank grew its holdings in Northrop Grumman by 1.0% during the 4th quarter. First American Bank now owns 16,758 shares of the aerospace company’s stock valued at $7,864,000 after buying an additional 162 shares in the last quarter. Hedge funds and other institutional investors own 83.40% of the company’s stock.

Northrop Grumman Stock Performance

NYSE:NOC opened at $473.57 on Tuesday. The business has a 50 day moving average of $469.56 and a 200 day moving average of $495.91. The company has a market capitalization of $68.55 billion, a price-to-earnings ratio of 16.71, a PEG ratio of 3.73 and a beta of 0.35. Northrop Grumman Co. has a 1-year low of $418.60 and a 1-year 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.

Northrop Grumman (NYSE:NOC) last released its earnings results on Thursday, January 30th. The aerospace company reported $6.39 earnings per share for the quarter, topping 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%. On average, sell-side analysts predict that Northrop Grumman Co. will post 28.05 earnings per share for the current fiscal year.

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

Northrop Grumman Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 19th. Shareholders of record on Monday, March 3rd will be given a $2.06 dividend. The ex-dividend date is Monday, March 3rd. This represents a $8.24 annualized dividend and a yield of 1.74%. Northrop Grumman’s payout ratio is currently 29.08%.

Insider Buying and Selling at Northrop Grumman

In other Northrop Grumman news, VP Benjamin R. Davies sold 192 shares of the business’s stock in a transaction that occurred 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 in the company, valued at approximately $304,217.72. The trade was a 21.31 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Over the last 90 days, insiders sold 755 shares of company stock worth $342,972. 0.22% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on NOC. Citigroup lifted their target price on Northrop Grumman from $587.00 to $591.00 and gave the company a “buy” rating in a report on Monday, February 10th. Wells Fargo & Company reduced their target price on Northrop Grumman from $574.00 to $545.00 and set an “overweight” rating for the company in a report on Wednesday, February 26th. Truist Financial began coverage on Northrop Grumman in a report on Tuesday, January 14th. They set a “buy” rating and a $544.00 target price for the company. Barclays dropped their price target on Northrop Grumman from $550.00 to $500.00 and set an “equal weight” rating for the company in a research report on Monday, January 6th. Finally, UBS Group dropped their price target on Northrop Grumman from $579.00 to $558.00 and set a “buy” rating for the company in a research 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 company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $542.75.

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.