NEOS Investment Management LLC Buys 1,239 Shares of Northrop Grumman Co. (NYSE:NOC)

NEOS Investment Management LLC grew its stake in Northrop Grumman Co. (NYSE:NOC) by 26.2% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 5,965 shares of the aerospace company’s stock after purchasing an additional 1,239 shares during the period. NEOS Investment Management LLC’s holdings in Northrop Grumman were worth $2,799,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in NOC. Two Sigma Advisers LP grew its stake in shares of Northrop Grumman by 102.6% during the third quarter. Two Sigma Advisers LP now owns 735,600 shares of the aerospace company’s stock worth $388,448,000 after buying an additional 372,500 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in shares of Northrop Grumman during the 4th quarter valued at $171,580,000. Prudential Financial Inc. grew its position in Northrop Grumman by 225.8% during the 4th quarter. Prudential Financial Inc. now owns 327,998 shares of the aerospace company’s stock worth $153,926,000 after acquiring an additional 227,314 shares during the last quarter. Proficio Capital Partners LLC acquired a new position in Northrop Grumman in the 4th quarter worth about $94,370,000. Finally, Franklin Resources Inc. raised its position 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 valued at $1,315,729,000 after purchasing an additional 141,816 shares during the last quarter. 83.40% of the stock is owned by institutional investors.

Insider Activity

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. This trade represents a 1.73 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, VP Benjamin R. Davies sold 192 shares of the company’s stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $429.08, for a total transaction of $82,383.36. Following the transaction, the vice president now owns 709 shares in the company, valued at approximately $304,217.72. The trade was a 21.31 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 4,505 shares of company stock worth $2,126,405 in the last three months. Company insiders own 0.22% of the company’s stock.

Analyst Upgrades and Downgrades

NOC has been the topic of several research reports. Wells Fargo & Company boosted their price target on Northrop Grumman from $545.00 to $547.00 and gave the stock an “overweight” rating in a report on Friday, March 7th. StockNews.com lowered shares of Northrop Grumman from a “strong-buy” rating to a “buy” rating in a report on Monday, February 3rd. Susquehanna cut their price target on shares of Northrop Grumman from $625.00 to $557.00 and set a “positive” rating on the stock in a report on Wednesday, January 8th. Argus upgraded Northrop Grumman to a “strong-buy” rating in a report on Wednesday, February 26th. Finally, Truist Financial initiated coverage on Northrop Grumman in a report on Tuesday, January 14th. They set a “buy” rating and a $544.00 target price on the stock. Eight investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $545.06.

Northrop Grumman Trading Down 0.4 %

NYSE NOC opened at $511.86 on Friday. Northrop Grumman Co. has a one year low of $418.60 and a one year high of $555.57. The company has a debt-to-equity ratio of 0.96, a current ratio of 1.01 and a quick ratio of 0.91. The business has a 50 day simple moving average of $478.20 and a 200 day simple moving average of $493.03. 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 (NYSE:NOC) last released its quarterly earnings data on Thursday, January 30th. The aerospace company reported $6.39 earnings per share for the quarter, beating 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%. Research analysts expect that Northrop Grumman Co. will post 28.05 earnings per share for the current year.

Northrop Grumman declared that its Board of Directors has authorized a stock buyback plan on Wednesday, December 11th that allows the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization allows the aerospace company to buy up to 4.3% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s board believes its shares are undervalued.

Northrop Grumman Announces Dividend

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

About Northrop Grumman

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.