Pictet Asset Management Holding SA Reduces Stake in Northrop Grumman Co. (NYSE:NOC)

Pictet Asset Management Holding SA lowered its stake in shares of Northrop Grumman Co. (NYSE:NOC) by 5.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 44,669 shares of the aerospace company’s stock after selling 2,746 shares during the period. Pictet Asset Management Holding SA’s holdings in Northrop Grumman were worth $20,963,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the stock. Whipplewood Advisors LLC bought a new stake in shares of Northrop Grumman in the fourth quarter valued at $31,000. Albion Financial Group UT purchased a new stake in Northrop Grumman in the 4th quarter worth about $33,000. FSA Wealth Management LLC bought a new stake in Northrop Grumman in the 3rd quarter valued at about $36,000. Modus Advisors LLC purchased a new stake in Northrop Grumman during the fourth quarter valued at about $38,000. Finally, Stonebridge Financial Group LLC bought a new position in Northrop Grumman during the fourth quarter worth about $42,000. Institutional investors own 83.40% of the company’s stock.

Insider Activity at Northrop Grumman

In other 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 completion of the sale, the vice president now owns 709 shares of the company’s stock, valued at approximately $304,217.72. The trade was a 21.31 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Kathy J. Warden sold 3,750 shares of the firm’s stock in a transaction that occurred on Thursday, March 6th. The stock was 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 in the company, valued at approximately $101,243,053.80. The trade was a 1.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 4,505 shares of company stock valued at $2,126,405. Insiders own 0.22% of the company’s stock.

Northrop Grumman Trading Up 0.0 %

NYSE NOC opened at $512.42 on Tuesday. The company has a quick ratio of 0.91, a current ratio of 1.01 and a debt-to-equity ratio of 0.96. The stock’s 50-day simple moving average is $478.79 and its two-hundred day simple moving average is $492.64. Northrop Grumman Co. has a twelve month low of $418.60 and a twelve month high of $555.57. The company has a market capitalization of $74.18 billion, a price-to-earnings ratio of 18.08, a PEG ratio of 3.73 and a beta of 0.31.

Northrop Grumman (NYSE:NOC) last announced its quarterly earnings data on Thursday, January 30th. The aerospace company reported $6.39 earnings per share for the quarter, beating 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%. Research analysts forecast that Northrop Grumman Co. will post 28.05 EPS for the current fiscal year.

Northrop Grumman declared that its Board of Directors has approved a stock repurchase program on Wednesday, December 11th that permits the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization permits the aerospace company to repurchase up to 4.3% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s leadership believes its shares are undervalued.

Northrop Grumman Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 19th. Stockholders of record on Monday, March 3rd were paid a $2.06 dividend. The ex-dividend date was Monday, March 3rd. This represents a $8.24 dividend on an annualized basis and a dividend yield of 1.61%. Northrop Grumman’s dividend payout ratio (DPR) is 29.08%.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on NOC shares. Royal Bank of Canada upgraded shares of Northrop Grumman from a “sector perform” rating to an “outperform” rating and upped their price target for the company from $500.00 to $575.00 in a research note on Thursday, March 27th. Wolfe Research upgraded Northrop Grumman from an “underperform” rating to a “peer perform” rating in a research report on Monday, February 3rd. Truist Financial started coverage on Northrop Grumman in a research report on Tuesday, January 14th. They issued a “buy” rating and a $544.00 price target for the company. Susquehanna dropped their price objective on Northrop Grumman from $625.00 to $557.00 and set a “positive” rating on the stock in a report on Wednesday, January 8th. Finally, UBS Group reduced their target price on Northrop Grumman from $579.00 to $558.00 and set a “buy” rating for the company in a report on Friday, January 31st. Eight investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Northrop Grumman has an average rating of “Moderate Buy” and a consensus price target of $545.06.

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.