Victory Capital Management Inc. Boosts Stake in Northrop Grumman Co. (NYSE:NOC)

Victory Capital Management Inc. lifted its stake in shares of Northrop Grumman Co. (NYSE:NOC) by 81.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 89,439 shares of the aerospace company’s stock after acquiring an additional 40,247 shares during the quarter. Victory Capital Management Inc.’s holdings in Northrop Grumman were worth $41,973,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the stock. Meeder Advisory Services Inc. increased its position in shares of Northrop Grumman by 0.9% during the third quarter. Meeder Advisory Services Inc. now owns 2,288 shares of the aerospace company’s stock worth $1,208,000 after acquiring an additional 20 shares during the period. Thompson Siegel & Walmsley LLC increased its position in shares of Northrop Grumman by 0.3% during the third quarter. Thompson Siegel & Walmsley LLC now owns 8,320 shares of the aerospace company’s stock worth $4,394,000 after acquiring an additional 21 shares during the period. Sapient Capital LLC increased its position in shares of Northrop Grumman by 1.1% during the fourth quarter. Sapient Capital LLC now owns 2,049 shares of the aerospace company’s stock worth $962,000 after acquiring an additional 22 shares during the period. Bank Pictet & Cie Europe AG increased its position in shares of Northrop Grumman by 2.2% during the fourth quarter. Bank Pictet & Cie Europe AG now owns 1,006 shares of the aerospace company’s stock worth $472,000 after acquiring an additional 22 shares during the period. Finally, Mather Group LLC. increased its position in shares of Northrop Grumman by 2.6% during the fourth quarter. Mather Group LLC. now owns 900 shares of the aerospace company’s stock worth $422,000 after acquiring an additional 23 shares during the period. 83.40% of the stock is owned by hedge funds and other institutional investors.

Northrop Grumman Trading Up 2.5 %

NYSE:NOC opened at $487.22 on Friday. Northrop Grumman Co. has a 12 month low of $418.60 and a 12 month high of $555.57. The firm has a fifty day simple moving average of $469.88 and a 200-day simple moving average of $495.11. The company has a current ratio of 1.01, a quick ratio of 0.91 and a debt-to-equity ratio of 0.96. The company has a market capitalization of $70.53 billion, a P/E ratio of 17.19, a PEG ratio of 3.73 and a beta of 0.31.

Northrop Grumman (NYSE:NOC) last posted its quarterly earnings data 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, equities research analysts anticipate that Northrop Grumman Co. will post 28.05 earnings per share for the current year.

Northrop Grumman declared that its Board of Directors has initiated a stock buyback program on Wednesday, December 11th that allows the company to buyback $3.00 billion in shares. This buyback authorization allows the aerospace company to reacquire up to 4.3% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s board of directors believes its stock is undervalued.

Northrop Grumman Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 19th. Stockholders of record on Monday, March 3rd will be paid 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 1.69%. Northrop Grumman’s payout ratio is currently 29.08%.

Insider Transactions at Northrop Grumman

In related news, VP Benjamin R. Davies sold 192 shares of the firm’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 transaction, the vice president now owns 709 shares of the company’s stock, valued at $304,217.72. This trade represents a 21.31 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Kathy J. Warden sold 3,750 shares of the firm’s stock in a transaction on Thursday, March 6th. The stock was sold at an average price of $475.65, for a total transaction of $1,783,687.50. Following the transaction, the chief executive officer now directly 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 position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 4,505 shares of company stock worth $2,126,405. Company insiders own 0.22% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently commented on NOC. Truist Financial started coverage on shares of Northrop Grumman in a research report on Tuesday, January 14th. They set a “buy” rating and a $544.00 target price on the stock. Argus raised shares of Northrop Grumman to a “strong-buy” rating in a report on Wednesday, February 26th. Susquehanna cut their price objective on shares of Northrop Grumman from $625.00 to $557.00 and set a “positive” rating on the stock in a report on Wednesday, January 8th. Barclays cut their price objective on shares of Northrop Grumman from $550.00 to $500.00 and set an “equal weight” rating on the stock in a report on Monday, January 6th. Finally, StockNews.com lowered shares of Northrop Grumman from a “strong-buy” rating to a “buy” rating in a report on Monday, February 3rd. Nine equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $542.88.

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.