Patron Partners LLC Increases Holdings in Northrop Grumman Co. (NYSE:NOC)

Patron Partners LLC lifted its stake in Northrop Grumman Co. (NYSE:NOC) by 13.5% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 453 shares of the aerospace company’s stock after buying an additional 54 shares during the quarter. Patron Partners LLC’s holdings in Northrop Grumman were worth $213,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Two Sigma Advisers LP grew its stake in Northrop Grumman by 102.6% during the 3rd quarter. Two Sigma Advisers LP now owns 735,600 shares of the aerospace company’s stock valued at $388,448,000 after purchasing an additional 372,500 shares during the last quarter. Franklin Resources Inc. lifted its stake in shares of Northrop Grumman by 6.2% in the 3rd quarter. Franklin Resources Inc. now owns 2,426,270 shares of the aerospace company’s stock valued at $1,315,729,000 after purchasing an additional 141,816 shares during the last quarter. Wedge Capital Management L L P NC acquired a new position in Northrop Grumman during the fourth quarter worth $66,171,000. International Assets Investment Management LLC purchased a new position in Northrop Grumman in the 4th quarter valued at approximately $622,000. Finally, National Bank of Canada FI increased its stake in shares of Northrop Grumman by 154.7% during the third quarter. National Bank of Canada FI now owns 157,601 shares of the aerospace company’s stock worth $83,224,000 after buying an additional 95,724 shares during the period. Institutional investors own 83.40% of the company’s stock.

Northrop Grumman Stock Performance

Shares of NYSE NOC opened at $487.87 on Tuesday. Northrop Grumman Co. has a 12-month low of $418.60 and a 12-month high of $555.57. The company has a market cap of $70.62 billion, a PE ratio of 17.21, a P/E/G ratio of 0.91 and a beta of 0.35. The stock has a 50 day simple moving average of $478.20 and a 200-day simple moving average of $498.76. The company has a current ratio of 1.01, a quick ratio of 0.91 and a debt-to-equity ratio of 0.96.

Northrop Grumman (NYSE:NOC) last announced its quarterly earnings data on Thursday, January 30th. The aerospace company reported $6.39 EPS 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, equities research analysts forecast that Northrop Grumman Co. will post 28.04 EPS for the current year.

Northrop Grumman announced that its board has authorized a stock repurchase program 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 programs are often a sign that the company’s leadership believes its stock is undervalued.

Northrop Grumman Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, December 18th. Investors of record on Monday, December 2nd were issued 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 1.69%. Northrop Grumman’s payout ratio is presently 29.08%.

Insider Activity at Northrop Grumman

In other Northrop Grumman news, VP Benjamin R. Davies sold 1,156 shares of the 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 completion of the sale, the vice president now directly owns 537 shares in the company, valued at approximately $286,183.41. This trade represents a 68.28 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Over the last ninety days, insiders sold 1,222 shares of company stock valued at $647,025. Insiders own 0.22% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the stock. StockNews.com lowered shares of Northrop Grumman from a “strong-buy” rating to a “buy” rating in a report on Monday. UBS Group decreased their price target on shares of Northrop Grumman from $579.00 to $558.00 and set a “buy” rating on the stock in a research report on Friday. Citigroup upgraded Northrop Grumman from a “neutral” rating to a “buy” rating and set a $587.00 price objective on the stock in a report on Tuesday, January 21st. JPMorgan Chase & Co. boosted their price target on Northrop Grumman from $500.00 to $560.00 and gave the company a “neutral” rating in a research note on Monday, October 14th. Finally, Truist Financial assumed coverage on Northrop Grumman in a research report on Tuesday, January 14th. They set a “buy” rating and a $544.00 price target on the stock. Nine investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, Northrop Grumman currently has an average rating of “Moderate Buy” and a consensus target price of $544.31.

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.