Meiji Yasuda Asset Management Co Ltd. Boosts Stock Holdings in Northrop Grumman Co. (NYSE:NOC)

Meiji Yasuda Asset Management Co Ltd. boosted its position in Northrop Grumman Co. (NYSE:NOC) by 2.1% in the fourth quarter, Holdings Channel.com reports. The firm owned 8,849 shares of the aerospace company’s stock after acquiring an additional 186 shares during the quarter. Meiji Yasuda Asset Management Co Ltd.’s holdings in Northrop Grumman were worth $4,153,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in NOC. Vanguard Group Inc. lifted its holdings in shares of Northrop Grumman by 0.5% in the 4th quarter. Vanguard Group Inc. now owns 12,677,781 shares of the aerospace company’s stock valued at $5,949,556,000 after buying an additional 56,807 shares during the period. Wellington Management Group LLP raised its position in Northrop Grumman by 0.4% in the third quarter. Wellington Management Group LLP now owns 4,140,892 shares of the aerospace company’s stock worth $2,186,681,000 after acquiring an additional 17,596 shares in the last quarter. Geode Capital Management LLC raised its position in Northrop Grumman by 0.6% in the third quarter. Geode Capital Management LLC now owns 3,003,360 shares of the aerospace company’s stock worth $1,581,644,000 after acquiring an additional 18,791 shares in the last quarter. 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 in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of Northrop Grumman by 2.8% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 832,463 shares of the aerospace company’s stock worth $390,667,000 after purchasing an additional 23,018 shares in the last quarter. Hedge funds and other institutional investors own 83.40% of the company’s stock.

Northrop Grumman Stock Up 2.4 %

NOC opened at $506.88 on Wednesday. Northrop Grumman Co. has a 12 month low of $418.60 and a 12 month high of $555.57. The business has a 50-day moving average of $476.25 and a two-hundred day moving average of $492.88. 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 stock has a market capitalization of $73.37 billion, a price-to-earnings ratio of 17.89, a price-to-earnings-growth ratio of 3.73 and a beta of 0.31.

Northrop Grumman (NYSE:NOC) last issued 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%. On average, research analysts expect that Northrop Grumman Co. will post 28.05 earnings per share for the current year.

Northrop Grumman announced that its Board of Directors has initiated a share repurchase plan on Wednesday, December 11th that authorizes the company to repurchase $3.00 billion in outstanding 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 generally an indication that the company’s board believes its stock is undervalued.

Northrop Grumman Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 19th. Stockholders of record on Monday, March 3rd were issued a dividend of $2.06 per share. This represents a $8.24 dividend on an annualized basis and a dividend yield of 1.63%. The ex-dividend date of this dividend was Monday, March 3rd. Northrop Grumman’s payout ratio is currently 29.08%.

Insiders Place Their Bets

In related news, VP Benjamin R. Davies sold 192 shares of the business’s stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $429.08, for a total value of $82,383.36. Following the transaction, 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 transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Kathy J. Warden sold 3,750 shares of the stock in a transaction that occurred on Thursday, March 6th. The shares were sold at an average price of $475.65, for a total value of $1,783,687.50. Following the transaction, the chief executive officer now owns 212,852 shares of the company’s stock, valued at approximately $101,243,053.80. This trade represents a 1.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 4,505 shares of company stock worth $2,126,405 over the last ninety days. 0.22% of the stock is owned by company insiders.

Analyst Ratings Changes

NOC has been the topic of a number of research analyst reports. Argus raised shares of Northrop Grumman to a “strong-buy” rating in a report on Wednesday, February 26th. Barclays decreased their price target on Northrop Grumman from $550.00 to $500.00 and set an “equal weight” rating on the stock in a research note on Monday, January 6th. UBS Group dropped their price objective on Northrop Grumman from $579.00 to $558.00 and set a “buy” rating for the company in a research note on Friday, January 31st. Wolfe Research upgraded Northrop Grumman from an “underperform” rating to a “peer perform” rating in a research report on Monday, February 3rd. Finally, Wells Fargo & Company upped their target price on Northrop Grumman from $545.00 to $547.00 and gave the company an “overweight” rating in a report on Friday, March 7th. Nine research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $542.88.

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.