Nomura Asset Management Co. Ltd. Trims Stock Position in Northrop Grumman Co. (NYSE:NOC)

Nomura Asset Management Co. Ltd. trimmed its stake in Northrop Grumman Co. (NYSE:NOC) by 0.4% in the 4th quarter, HoldingsChannel reports. The firm owned 45,199 shares of the aerospace company’s stock after selling 162 shares during the quarter. Nomura Asset Management Co. Ltd.’s holdings in Northrop Grumman were worth $21,211,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of the stock. Vanguard Group Inc. boosted its position in Northrop Grumman by 0.5% during the 4th quarter. Vanguard Group Inc. now owns 12,677,781 shares of the aerospace company’s stock valued at $5,949,556,000 after acquiring an additional 56,807 shares in the last quarter. Wellington Management Group LLP lifted its stake in shares of Northrop Grumman by 0.4% in the 3rd quarter. Wellington Management Group LLP now owns 4,140,892 shares of the aerospace company’s stock valued at $2,186,681,000 after purchasing an additional 17,596 shares during the period. Geode Capital Management LLC boosted its position in shares of Northrop Grumman by 0.6% during the third quarter. Geode Capital Management LLC now owns 3,003,360 shares of the aerospace company’s stock valued at $1,581,644,000 after purchasing an additional 18,791 shares in the last quarter. Franklin Resources Inc. grew its stake in Northrop Grumman by 6.2% in the third quarter. Franklin Resources Inc. now owns 2,426,270 shares of the aerospace company’s stock worth $1,315,729,000 after purchasing an additional 141,816 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its holdings in Northrop Grumman by 2.8% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 832,463 shares of the aerospace company’s stock worth $390,667,000 after purchasing an additional 23,018 shares in the last quarter. Institutional investors own 83.40% of the company’s stock.

Insider Buying and Selling at Northrop Grumman

In other Northrop Grumman news, VP Benjamin R. Davies sold 464 shares of the stock in a transaction that occurred on Friday, February 28th. The shares were sold at an average price of $460.75, for a total value of $213,788.00. Following the transaction, the vice president now directly owns 245 shares in the company, valued at approximately $112,883.75. This trade represents a 65.44 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Kathy J. Warden sold 3,750 shares of Northrop Grumman 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 owns 212,852 shares in the company, valued at $101,243,053.80. This represents a 1.73 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 4,505 shares of company stock valued at $2,126,405. 0.22% of the stock is owned by company insiders.

Northrop Grumman Price Performance

NOC opened at $511.86 on Friday. The company’s 50-day simple moving average is $478.20 and its two-hundred day simple moving average is $492.84. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.91 and a current ratio of 1.01. The stock has a market capitalization of $74.09 billion, a P/E ratio of 18.06, a P/E/G ratio of 3.73 and a beta of 0.31. Northrop Grumman Co. has a 52-week low of $418.60 and a 52-week high of $555.57.

Northrop Grumman (NYSE:NOC) last issued its quarterly earnings data on Thursday, January 30th. The aerospace company reported $6.39 earnings per share for the quarter, beating analysts’ consensus estimates of $6.27 by $0.12. Northrop Grumman had a net margin of 10.17% and a return on equity of 26.24%. As a group, analysts predict that Northrop Grumman Co. will post 28.05 EPS for the current year.

Northrop Grumman declared that its board has authorized a stock buyback plan on Wednesday, December 11th that authorizes the company to buyback $3.00 billion in outstanding shares. This buyback authorization authorizes the aerospace company to repurchase up to 4.3% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s board believes its shares are undervalued.

Northrop Grumman Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 19th. Investors of record on Monday, March 3rd were given a dividend of $2.06 per share. This represents a $8.24 dividend on an annualized basis and a yield of 1.61%. The ex-dividend date was Monday, March 3rd. Northrop Grumman’s dividend payout ratio (DPR) is presently 29.08%.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on NOC shares. Royal Bank of Canada upgraded shares of Northrop Grumman from a “sector perform” rating to an “outperform” rating and boosted their target price for the company from $500.00 to $575.00 in a report on Thursday. Argus upgraded shares of Northrop Grumman to a “strong-buy” rating in a report on Wednesday, February 26th. Citigroup lifted their target price on shares of Northrop Grumman from $587.00 to $591.00 and gave the company a “buy” rating in a report on Monday, February 10th. Truist Financial initiated coverage on Northrop Grumman in a research note on Tuesday, January 14th. They issued a “buy” rating and a $544.00 price target on the stock. Finally, UBS Group reduced their price objective on Northrop Grumman from $579.00 to $558.00 and set a “buy” rating for the company in a research report on Friday, January 31st. Eight research analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $545.06.

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.