Northrop Grumman Co. (NYSE:NOC) Shares Bought by Versor Investments LP

Versor Investments LP grew its position in Northrop Grumman Co. (NYSE:NOC) by 132.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,898 shares of the aerospace company’s stock after purchasing an additional 2,221 shares during the quarter. Versor Investments LP’s holdings in Northrop Grumman were worth $1,829,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Mirae Asset Global Investments Co. Ltd. raised its stake in Northrop Grumman by 36.8% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 8,348 shares of the aerospace company’s stock valued at $4,398,000 after buying an additional 2,246 shares during the last quarter. Pallas Capital Advisors LLC acquired a new position in shares of Northrop Grumman during the third quarter valued at about $522,000. abrdn plc raised its position in shares of Northrop Grumman by 27.1% in the 3rd quarter. abrdn plc now owns 12,868 shares of the aerospace company’s stock valued at $6,756,000 after purchasing an additional 2,747 shares during the last quarter. Childress Capital Advisors LLC purchased a new position in shares of Northrop Grumman in the 3rd quarter valued at approximately $264,000. Finally, Walter & Keenan Wealth Management LLC IN ADV boosted its stake in Northrop Grumman by 21.6% in the 3rd quarter. Walter & Keenan Wealth Management LLC IN ADV now owns 575 shares of the aerospace company’s stock worth $304,000 after purchasing an additional 102 shares in the last quarter. 83.40% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts recently issued reports on NOC shares. Barclays cut their target price on Northrop Grumman from $550.00 to $500.00 and set an “equal weight” rating on the stock in a research report on Monday, January 6th. StockNews.com downgraded Northrop Grumman from a “strong-buy” rating to a “buy” rating in a report on Monday, February 3rd. Citigroup upped their target price on Northrop Grumman from $587.00 to $591.00 and gave the company a “buy” rating in a research report on Monday, February 10th. Susquehanna reduced their price target on shares of Northrop Grumman from $625.00 to $557.00 and set a “positive” rating for the company in a research report on Wednesday, January 8th. Finally, UBS Group cut their price objective on shares of Northrop Grumman from $579.00 to $558.00 and set a “buy” rating on the stock in a research note on Friday, January 31st. Nine equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, Northrop Grumman presently has a consensus rating of “Moderate Buy” and an average target price of $542.75.

Northrop Grumman Price Performance

Shares of Northrop Grumman stock opened at $454.80 on Thursday. The firm has a market cap of $65.84 billion, a PE ratio of 16.05, a P/E/G ratio of 3.73 and a beta of 0.35. Northrop Grumman Co. has a twelve month low of $418.60 and a twelve month high of $555.57. 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 business has a 50-day moving average price of $469.74 and a 200 day moving average price of $496.76.

Northrop Grumman (NYSE:NOC) last posted its quarterly earnings data 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 return on equity of 26.24% and a net margin of 10.17%. Sell-side analysts predict that Northrop Grumman Co. will post 28.05 earnings per share for the current fiscal year.

Northrop Grumman Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 19th. Investors of record on Monday, March 3rd will be given a dividend of $2.06 per share. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $8.24 annualized dividend and a dividend yield of 1.81%. Northrop Grumman’s dividend payout ratio (DPR) is presently 29.08%.

Northrop Grumman announced that its Board of Directors has initiated a stock repurchase plan on Wednesday, December 11th that allows the company to buyback $3.00 billion in shares. This buyback authorization allows the aerospace company to buy up to 4.3% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s management believes its shares are undervalued.

Insider Activity at Northrop Grumman

In other news, VP Benjamin R. Davies sold 192 shares of the company’s stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $429.08, for a total transaction of $82,383.36. Following the completion of the sale, the vice president now owns 709 shares of the company’s stock, valued at $304,217.72. This represents a 21.31 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In the last ninety days, insiders sold 291 shares of company stock valued at $129,184. 0.22% of the stock is owned by insiders.

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.