Advisors Asset Management Inc. Purchases 1,061 Shares of Northrop Grumman Co. (NYSE:NOC)

Advisors Asset Management Inc. grew its position in Northrop Grumman Co. (NYSE:NOC) by 14.1% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 8,581 shares of the aerospace company’s stock after buying an additional 1,061 shares during the period. Advisors Asset Management Inc.’s holdings in Northrop Grumman were worth $4,027,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of NOC. Thompson Siegel & Walmsley LLC boosted its stake 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 in the last quarter. Sapient Capital LLC boosted its stake 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 purchasing an additional 22 shares in the last quarter. Bank Pictet & Cie Europe AG boosted its stake 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 worth $472,000 after purchasing an additional 22 shares in the last quarter. Mather Group LLC. boosted its stake in Northrop Grumman by 2.6% in the 4th quarter. Mather Group LLC. now owns 900 shares of the aerospace company’s stock worth $422,000 after purchasing an additional 23 shares in the last quarter. Finally, Jacobi Capital Management LLC boosted its stake in Northrop Grumman by 1.2% in the 4th quarter. Jacobi Capital Management LLC now owns 1,987 shares of the aerospace company’s stock worth $933,000 after purchasing an additional 23 shares in the last quarter. 83.40% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, VP Benjamin R. Davies sold 464 shares of the business’s stock in a transaction 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 completion of the sale, the vice president now owns 245 shares of the company’s stock, valued at approximately $112,883.75. The trade was a 65.44 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Kathy J. Warden sold 3,750 shares of the company’s 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 sale, the chief executive officer now directly owns 212,852 shares of the company’s stock, valued at $101,243,053.80. The trade was a 1.73 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 4,505 shares of company stock valued at $2,126,405. 0.22% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on NOC shares. Truist Financial assumed coverage on shares of Northrop Grumman in a research note on Tuesday, January 14th. They issued a “buy” rating and a $544.00 target price for the company. Wolfe Research upgraded shares of Northrop Grumman from an “underperform” rating to a “peer perform” rating in a research note on Monday, February 3rd. Argus upgraded shares of Northrop Grumman to a “strong-buy” rating in a research note on Wednesday, February 26th. UBS Group decreased their price objective on shares of Northrop Grumman from $579.00 to $558.00 and set a “buy” rating for the company in a research note on Friday, January 31st. Finally, Susquehanna decreased their price objective on shares of Northrop Grumman from $625.00 to $557.00 and set a “positive” rating for the company in a research note on Wednesday, January 8th. Nine analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Northrop Grumman has an average rating of “Moderate Buy” and an average price target of $542.88.

Northrop Grumman Price Performance

Shares of NYSE NOC opened at $488.98 on Friday. The firm has a market cap of $70.78 billion, a PE ratio of 17.25, a PEG ratio of 3.73 and a beta of 0.31. The firm has a fifty day moving average of $474.50 and a 200 day moving average of $493.74. 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 one year low of $418.60 and a one year high of $555.57.

Northrop Grumman (NYSE:NOC) last issued its quarterly earnings results on Thursday, January 30th. The aerospace company reported $6.39 EPS for the quarter, topping the consensus estimate 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, research analysts predict that Northrop Grumman Co. will post 28.05 EPS for the current fiscal year.

Northrop Grumman announced that its board has initiated a share buyback program on Wednesday, December 11th that allows the company to buyback $3.00 billion in shares. This buyback authorization allows the aerospace company to reacquire up to 4.3% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s leadership believes its shares are undervalued.

Northrop Grumman Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 19th. Investors of record on Monday, March 3rd were issued a $2.06 dividend. This represents a $8.24 annualized dividend and a yield of 1.69%. The ex-dividend date was Monday, March 3rd. Northrop Grumman’s payout ratio is presently 29.08%.

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.