Northrop Grumman Co. (NYSE:NOC) Shares Acquired by Arrowstreet Capital Limited Partnership

Arrowstreet Capital Limited Partnership lifted its stake in Northrop Grumman Co. (NYSE:NOC) by 61.6% in the 4th quarter, Holdings Channel.com reports. The firm owned 150,960 shares of the aerospace company’s stock after purchasing an additional 57,571 shares during the period. Arrowstreet Capital Limited Partnership’s holdings in Northrop Grumman were worth $70,844,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Whipplewood Advisors LLC acquired a new stake in shares of Northrop Grumman in the 4th quarter worth $31,000. Albion Financial Group UT purchased a new stake in shares of Northrop Grumman in the fourth quarter valued at about $33,000. FSA Wealth Management LLC acquired a new stake in Northrop Grumman during the third quarter worth about $36,000. Modus Advisors LLC purchased a new position in Northrop Grumman during the fourth quarter worth about $38,000. Finally, Stonebridge Financial Group LLC acquired a new position in Northrop Grumman in the 4th quarter valued at about $42,000. Hedge funds and other institutional investors own 83.40% of the company’s stock.

Insider Transactions at Northrop Grumman

In related news, CEO Kathy J. Warden sold 3,750 shares of the firm’s stock in a transaction dated 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 of the company’s stock, valued at $101,243,053.80. This trade represents a 1.73 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, VP Benjamin R. Davies sold 192 shares of the business’s stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $429.08, for a total value of $82,383.36. Following the completion of the transaction, the vice president now owns 709 shares in the company, valued at $304,217.72. This trade represents a 21.31 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 4,505 shares of company stock worth $2,126,405. Insiders own 0.22% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the stock. Wolfe Research raised shares of Northrop Grumman from an “underperform” rating to a “peer perform” rating in a research report on Monday, February 3rd. Wells Fargo & Company upped their price target on Northrop Grumman from $545.00 to $547.00 and gave the company an “overweight” rating in a research note on Friday, March 7th. Barclays cut their price objective on Northrop Grumman from $550.00 to $500.00 and set an “equal weight” rating for the company in a research report on Monday, January 6th. StockNews.com lowered shares of Northrop Grumman from a “strong-buy” rating to a “buy” rating in a research note on Monday, February 3rd. Finally, Susquehanna dropped 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. Eight analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Northrop Grumman currently has a consensus rating of “Moderate Buy” and an average price target of $545.06.

Northrop Grumman Stock Performance

Shares of NOC opened at $512.42 on Tuesday. The stock has a 50-day simple moving average of $478.79 and a 200-day simple moving average of $492.64. 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 1 year low of $418.60 and a 1 year high of $555.57. The stock has a market capitalization of $74.18 billion, a PE ratio of 18.08, a PEG 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 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%. On average, analysts predict that Northrop Grumman Co. will post 28.05 earnings per share for the current fiscal year.

Northrop Grumman announced that its board has approved a share repurchase program on Wednesday, December 11th that authorizes the company to buyback $3.00 billion in outstanding shares. This buyback authorization authorizes the aerospace company to reacquire up to 4.3% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s management believes its shares are undervalued.

Northrop Grumman Announces Dividend

The company also recently disclosed 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 dividend on an annualized basis and a yield of 1.61%. The ex-dividend date of this dividend was Monday, March 3rd. Northrop Grumman’s dividend payout ratio is currently 29.08%.

Northrop Grumman Company 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.