Northrop Grumman Co. (NYSE:NOC) Shares Bought by Unison Asset Management LLC

Unison Asset Management LLC boosted its holdings in shares of Northrop Grumman Co. (NYSE:NOC) by 2.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 8,375 shares of the aerospace company’s stock after purchasing an additional 212 shares during the period. Northrop Grumman makes up approximately 1.9% of Unison Asset Management LLC’s holdings, making the stock its 19th biggest position. Unison Asset Management LLC’s holdings in Northrop Grumman were worth $3,930,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in the business. Two Sigma Advisers LP boosted its stake in shares of Northrop Grumman by 102.6% during the 3rd quarter. Two Sigma Advisers LP now owns 735,600 shares of the aerospace company’s stock worth $388,448,000 after acquiring an additional 372,500 shares in the last quarter. Franklin Resources Inc. lifted its holdings in shares of 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 purchasing an additional 141,816 shares during the last quarter. Wedge Capital Management L L P NC acquired a new position in shares of Northrop Grumman in the 4th quarter valued at $66,171,000. International Assets Investment Management LLC purchased a new position in Northrop Grumman in the 4th quarter worth about $622,000. Finally, National Bank of Canada FI raised its holdings in Northrop Grumman by 154.7% during the 3rd quarter. National Bank of Canada FI now owns 157,601 shares of the aerospace company’s stock worth $83,224,000 after buying an additional 95,724 shares during the period. 83.40% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on NOC shares. Truist Financial started coverage on shares of Northrop Grumman in a research report on Tuesday, January 14th. They issued a “buy” rating and a $544.00 target price on the stock. Susquehanna cut their target price on shares of Northrop Grumman from $625.00 to $557.00 and set a “positive” rating on the stock in a research note on Wednesday, January 8th. Wolfe Research upgraded Northrop Grumman from an “underperform” rating to a “peer perform” rating in a report on Monday, February 3rd. Wells Fargo & Company reduced their price objective on Northrop Grumman from $595.00 to $574.00 and set an “overweight” rating for the company in a research note on Friday, January 31st. Finally, JPMorgan Chase & Co. lifted their target price on Northrop Grumman from $500.00 to $560.00 and gave the company a “neutral” rating in a research note on Monday, October 14th. Nine investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $544.31.

Northrop Grumman Price Performance

NYSE NOC opened at $468.75 on Friday. Northrop Grumman Co. has a fifty-two week low of $418.60 and a fifty-two week high of $555.57. The stock’s 50-day moving average is $477.33 and its two-hundred day moving average is $498.99. The firm has a market cap of $67.86 billion, a P/E ratio of 16.54, a price-to-earnings-growth ratio of 3.00 and a beta of 0.35. The company has a debt-to-equity ratio of 0.96, a current ratio of 1.01 and a quick ratio of 0.91.

Northrop Grumman (NYSE:NOC) last posted its earnings results on Thursday, January 30th. The aerospace company reported $6.39 earnings per share for the quarter, topping the consensus estimate of $6.27 by $0.12. Northrop Grumman had a return on equity of 26.24% and a net margin of 10.17%. On average, analysts anticipate that Northrop Grumman Co. will post 27.94 earnings per share for the current fiscal year.

Northrop Grumman Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, December 18th. Shareholders of record on Monday, December 2nd were issued a dividend of $2.06 per share. This represents a $8.24 dividend on an annualized basis and a yield of 1.76%. The ex-dividend date was Monday, December 2nd. Northrop Grumman’s dividend payout ratio (DPR) is 29.08%.

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

Insider Activity

In other news, VP Benjamin R. Davies sold 1,156 shares of the company’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $532.93, for a total transaction of $616,067.08. Following the completion of the transaction, the vice president now owns 537 shares of the company’s stock, valued at approximately $286,183.41. This represents a 68.28 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Over the last ninety days, insiders have sold 1,255 shares of company stock valued at $662,868. 0.22% of the stock is owned by insiders.

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.