Northrop Grumman Co. (NYSE:NOC) Shares Sold by Maryland State Retirement & Pension System

Maryland State Retirement & Pension System decreased its position in shares of Northrop Grumman Co. (NYSE:NOC) by 7.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 7,368 shares of the aerospace company’s stock after selling 610 shares during the quarter. Maryland State Retirement & Pension System’s holdings in Northrop Grumman were worth $3,458,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Thompson Siegel & Walmsley LLC grew its position in Northrop Grumman by 0.3% in the 3rd quarter. Thompson Siegel & Walmsley LLC now owns 8,320 shares of the aerospace company’s stock worth $4,394,000 after purchasing an additional 21 shares during the last quarter. Sapient Capital LLC grew its holdings in Northrop Grumman by 1.1% in the 4th quarter. Sapient Capital LLC now owns 2,049 shares of the aerospace company’s stock worth $962,000 after buying an additional 22 shares in the last quarter. Bank Pictet & Cie Europe AG increased its position in Northrop Grumman by 2.2% in the 4th quarter. Bank Pictet & Cie Europe AG now owns 1,006 shares of the aerospace company’s stock valued at $472,000 after acquiring an additional 22 shares during the period. Mather Group LLC. raised its stake in Northrop Grumman by 2.6% during the 4th quarter. Mather Group LLC. now owns 900 shares of the aerospace company’s stock valued at $422,000 after acquiring an additional 23 shares in the last quarter. Finally, Jacobi Capital Management LLC boosted its position in Northrop Grumman by 1.2% during the 4th quarter. Jacobi Capital Management LLC now owns 1,987 shares of the aerospace company’s stock worth $933,000 after acquiring an additional 23 shares during the period. Institutional investors own 83.40% of the company’s stock.

Northrop Grumman Price Performance

NOC opened at $491.56 on Thursday. The firm has a market capitalization of $71.16 billion, a P/E ratio of 17.35, a PEG ratio of 3.73 and a beta of 0.31. The stock has a fifty day moving average of $473.98 and a 200-day moving average of $493.77. The company has a quick ratio of 0.91, a current ratio of 1.01 and a debt-to-equity ratio of 0.96. Northrop Grumman Co. has a 12-month low of $418.60 and a 12-month high of $555.57.

Northrop Grumman (NYSE:NOC) last announced its quarterly earnings data on Thursday, January 30th. The aerospace company reported $6.39 earnings per share (EPS) 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%. Equities analysts forecast that Northrop Grumman Co. will post 28.05 EPS for the current fiscal year.

Northrop Grumman Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 19th. Shareholders of record on Monday, March 3rd were given a $2.06 dividend. The ex-dividend date was Monday, March 3rd. This represents a $8.24 dividend on an annualized basis and a yield of 1.68%. Northrop Grumman’s payout ratio is 29.08%.

Northrop Grumman announced that its Board of Directors has authorized 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 repurchase up to 4.3% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s management believes its shares are undervalued.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the stock. Wells Fargo & Company lifted their price objective on shares of Northrop Grumman from $545.00 to $547.00 and gave the company an “overweight” rating in a research note on Friday, March 7th. Barclays reduced their price target on shares of 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. Argus upgraded shares of Northrop Grumman to a “strong-buy” rating in a research note on Wednesday, February 26th. Truist Financial assumed coverage on Northrop Grumman in a research report on Tuesday, January 14th. They issued a “buy” rating and a $544.00 target price for the company. Finally, 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. Nine equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Northrop Grumman has an average rating of “Moderate Buy” and a consensus target price of $542.88.

Insider Buying and Selling at Northrop Grumman

In related news, CEO Kathy J. Warden sold 3,750 shares of Northrop Grumman stock in a transaction on 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 sale, the chief executive officer now owns 212,852 shares of the company’s stock, valued at approximately $101,243,053.80. The trade was a 1.73 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Benjamin R. Davies sold 192 shares of the business’s stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $429.08, for a total value of $82,383.36. Following the completion of the sale, the vice president now directly owns 709 shares of the company’s stock, valued at $304,217.72. This represents a 21.31 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 4,505 shares of company stock valued at $2,126,405 in the last quarter. Company 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.