Quantbot Technologies LP Has $12.27 Million Stake in Northrop Grumman Co. (NYSE:NOC)

Quantbot Technologies LP raised its position in Northrop Grumman Co. (NYSE:NOC) by 240.9% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 26,155 shares of the aerospace company’s stock after buying an additional 18,483 shares during the period. Northrop Grumman accounts for 0.4% of Quantbot Technologies LP’s investment portfolio, making the stock its 24th biggest holding. Quantbot Technologies LP’s holdings in Northrop Grumman were worth $12,274,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Two Sigma Advisers LP lifted its holdings in Northrop Grumman by 102.6% during the third 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. Raymond James Financial Inc. purchased a new position in Northrop Grumman in the fourth quarter worth $171,580,000. Proficio Capital Partners LLC purchased a new position in shares of Northrop Grumman in the 4th quarter worth about $94,370,000. Franklin Resources Inc. grew its position in Northrop Grumman by 6.2% during the third quarter. Franklin Resources Inc. now owns 2,426,270 shares of the aerospace company’s stock valued at $1,315,729,000 after acquiring an additional 141,816 shares during the last quarter. Finally, Wedge Capital Management L L P NC bought a new position in shares of Northrop Grumman during the 4th quarter valued at $66,171,000. 83.40% of the stock is owned by hedge funds and other institutional investors.

Northrop Grumman Stock Performance

NYSE:NOC opened at $492.25 on Friday. The stock has a 50-day simple moving average of $475.18 and a two-hundred day simple moving average of $493.53. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.91 and a current ratio of 1.01. Northrop Grumman Co. has a 52-week low of $418.60 and a 52-week high of $555.57. The firm has a market capitalization of $71.26 billion, a PE ratio of 17.37, a P/E/G 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 EPS for the quarter, beating 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%. Analysts forecast that Northrop Grumman Co. will post 28.05 EPS for the current year.

Northrop Grumman Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 19th. Shareholders of record on Monday, March 3rd were paid a $2.06 dividend. This represents a $8.24 annualized dividend and a yield of 1.67%. The ex-dividend date of this dividend was Monday, March 3rd. Northrop Grumman’s payout ratio is currently 29.08%.

Northrop Grumman announced that its Board of Directors has initiated a share buyback plan on Wednesday, December 11th that authorizes the company to buyback $3.00 billion in shares. This buyback authorization authorizes the aerospace company to purchase up to 4.3% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s management believes its shares are undervalued.

Analyst Ratings Changes

NOC has been the subject of a number of analyst reports. Barclays dropped their price objective on Northrop Grumman from $550.00 to $500.00 and set an “equal weight” rating for the company in a research note on Monday, January 6th. Citigroup lifted their price target 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 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. Argus upgraded Northrop Grumman to a “strong-buy” rating in a report on Wednesday, February 26th. Finally, Truist Financial began coverage on shares of Northrop Grumman in a research report on Tuesday, January 14th. They set a “buy” rating and a $544.00 price target for the company. Nine investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $542.88.

Insider Buying and Selling

In related news, CEO Kathy J. Warden sold 3,750 shares of the stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $475.65, for a total value of $1,783,687.50. Following the completion of the transaction, the chief executive officer now 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Benjamin R. Davies sold 464 shares of Northrop Grumman stock in a transaction on Friday, February 28th. The stock was sold at an average price of $460.75, for a total transaction of $213,788.00. Following the transaction, the vice president now directly owns 245 shares of the company’s stock, valued at $112,883.75. The trade was a 65.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 4,505 shares of company stock worth $2,126,405. Corporate insiders own 0.22% of the company’s stock.

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.