Sumitomo Mitsui Trust Group Inc. Cuts Position in Northrop Grumman Co. (NYSE:NOC)

Sumitomo Mitsui Trust Group Inc. trimmed its position in shares of Northrop Grumman Co. (NYSE:NOC) by 0.8% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 350,622 shares of the aerospace company’s stock after selling 2,844 shares during the period. Sumitomo Mitsui Trust Group Inc. owned approximately 0.24% of Northrop Grumman worth $164,543,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. RPg Family Wealth Advisory LLC bought a new position in Northrop Grumman during the third quarter valued at $31,000. FSA Wealth Management LLC bought a new position in shares of Northrop Grumman in the 3rd quarter valued at about $36,000. Albion Financial Group UT purchased a new position in Northrop Grumman in the fourth quarter worth about $33,000. Catalyst Capital Advisors LLC bought a new stake in Northrop Grumman during the third quarter worth approximately $40,000. Finally, Modus Advisors LLC purchased a new stake in Northrop Grumman during the fourth quarter valued at approximately $38,000. 83.40% of the stock is currently owned by institutional investors.

Northrop Grumman Stock Performance

Shares of Northrop Grumman stock opened at $468.75 on Friday. Northrop Grumman Co. has a one year low of $418.60 and a one year high of $555.57. The company has a market capitalization of $67.86 billion, a PE ratio of 16.54, a P/E/G ratio of 0.91 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. The company has a 50-day simple moving average of $477.33 and a two-hundred day simple moving average of $498.99.

Northrop Grumman (NYSE:NOC) last posted its earnings results on Thursday, January 30th. The aerospace company reported $6.39 EPS for the quarter, beating 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%. Research analysts expect that Northrop Grumman Co. will post 28.04 EPS for the current fiscal year.

Northrop Grumman announced that its board has authorized a share buyback program on Wednesday, December 11th that allows the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization allows the aerospace company to reacquire up to 4.3% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board of directors believes its shares are undervalued.

Northrop Grumman Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, December 18th. Stockholders of record on Monday, December 2nd were paid a dividend of $2.06 per share. The ex-dividend date of this dividend was Monday, December 2nd. This represents a $8.24 dividend on an annualized basis and a dividend yield of 1.76%. Northrop Grumman’s payout ratio is 29.08%.

Insider Activity

In other Northrop Grumman news, VP Benjamin R. Davies sold 1,156 shares of the business’s stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $532.93, for a total transaction of $616,067.08. Following the sale, the vice president now owns 537 shares in the company, valued at approximately $286,183.41. The trade was a 68.28 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have sold a total of 1,255 shares of company stock worth $662,868 over the last 90 days. 0.22% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

NOC has been the topic of several analyst reports. Wolfe Research raised Northrop Grumman from an “underperform” rating to a “peer perform” rating in a research report on Monday, February 3rd. UBS Group cut their price target on shares of Northrop Grumman from $579.00 to $558.00 and set a “buy” rating on the stock in a report on Friday, January 31st. StockNews.com downgraded shares of Northrop Grumman from a “strong-buy” rating to a “buy” rating in a research note on Monday, February 3rd. Citigroup upgraded Northrop Grumman from a “neutral” rating to a “buy” rating and set a $587.00 price target on the stock in a report on Tuesday, January 21st. Finally, 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 objective on the stock. Nine equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $544.31.

Northrop Grumman Company 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.