USA Financial Formulas Purchases New Stake in Northrop Grumman Co. (NYSE:NOC)

USA Financial Formulas purchased a new stake in shares of Northrop Grumman Co. (NYSE:NOC) during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 506 shares of the aerospace company’s stock, valued at approximately $237,000.

Several other large investors have also recently bought and sold shares of NOC. Two Sigma Advisers LP raised its position 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 buying an additional 372,500 shares during the period. Marshall Wace LLP acquired a new position in Northrop Grumman during the second quarter valued at $74,206,000. Canada Pension Plan Investment Board raised its position in Northrop Grumman by 113.6% during the second quarter. Canada Pension Plan Investment Board now owns 296,844 shares of the aerospace company’s stock valued at $129,409,000 after buying an additional 157,854 shares during the period. Legal & General Group Plc raised its position in Northrop Grumman by 16.0% during the second quarter. Legal & General Group Plc now owns 1,087,913 shares of the aerospace company’s stock valued at $474,276,000 after buying an additional 150,367 shares during the period. Finally, Franklin Resources Inc. raised 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 buying an additional 141,816 shares during the period. 83.40% of the stock is owned by institutional investors and hedge funds.

Northrop Grumman Price Performance

Shares of NYSE:NOC opened at $480.29 on Friday. The business has a 50 day moving average price of $482.29 and a 200 day moving average price of $493.47. Northrop Grumman Co. has a twelve month low of $418.60 and a twelve month high of $555.57. The company has a market cap of $69.98 billion, a price-to-earnings ratio of 29.76, a PEG ratio of 0.87 and a beta of 0.35. The company has a quick ratio of 0.97, a current ratio of 1.09 and a debt-to-equity ratio of 1.00.

Northrop Grumman (NYSE:NOC) last announced its earnings results on Thursday, October 24th. The aerospace company reported $7.00 earnings per share for the quarter, beating the consensus estimate of $6.07 by $0.93. Northrop Grumman had a return on equity of 26.57% and a net margin of 5.79%. The firm had revenue of $10 billion during the quarter, compared to the consensus estimate of $10.18 billion. During the same quarter in the prior year, the company earned $6.18 EPS. The firm’s revenue for the quarter was up 2.3% compared to the same quarter last year. Research analysts predict that Northrop Grumman Co. will post 25.93 earnings per share for the current year.

Northrop Grumman announced that its Board of Directors has approved a share buyback program on Wednesday, December 11th that permits the company to repurchase $3.00 billion in shares. This repurchase authorization permits the aerospace company to buy up to 4.3% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s management believes its shares are undervalued.

Northrop Grumman Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, December 18th. Investors of record on Monday, December 2nd were paid a dividend of $2.06 per share. The ex-dividend date was Monday, December 2nd. This represents a $8.24 annualized dividend and a yield of 1.72%. Northrop Grumman’s payout ratio is 51.05%.

Insider Activity at Northrop Grumman

In other Northrop Grumman news, VP Benjamin R. Davies sold 1,156 shares of the firm’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $532.93, for a total value of $616,067.08. Following the completion of the sale, the vice president now 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 Securities & Exchange Commission, which can be accessed through the SEC website. Insiders sold a total of 1,255 shares of company stock worth $663,859 in the last 90 days. 0.22% of the stock is owned by company insiders.

Analyst Ratings Changes

NOC has been the topic of several research reports. Wells Fargo & Company raised Northrop Grumman from an “equal weight” rating to an “overweight” rating and set a $595.00 target price on the stock in a research report on Wednesday, January 8th. TD Cowen raised Northrop Grumman to a “hold” rating in a research report on Tuesday, October 8th. Truist Financial initiated coverage on Northrop Grumman in a research report on Tuesday. They issued a “buy” rating and a $544.00 target price on the stock. UBS Group upped their target price on Northrop Grumman from $614.00 to $643.00 and gave the stock a “buy” rating in a research report on Friday, October 25th. Finally, Citigroup upped their target price on Northrop Grumman from $521.00 to $587.00 and gave the stock a “neutral” rating in a research report on Thursday, October 10th. Nine analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $550.94.

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.