Kirtland Hills Capital Management LLC Has $712,000 Stake in Northrop Grumman Co. (NYSE:NOC)

Kirtland Hills Capital Management LLC increased its position in shares of Northrop Grumman Co. (NYSE:NOC) by 12.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,516 shares of the aerospace company’s stock after buying an additional 168 shares during the period. Kirtland Hills Capital Management LLC’s holdings in Northrop Grumman were worth $712,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Two Sigma Advisers LP increased its holdings in shares of Northrop Grumman by 102.6% in the third quarter. Two Sigma Advisers LP now owns 735,600 shares of the aerospace company’s stock valued at $388,448,000 after purchasing an additional 372,500 shares during the last quarter. Franklin Resources Inc. boosted its position in shares of 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 acquiring an additional 141,816 shares during the period. Wedge Capital Management L L P NC bought a new stake in shares of Northrop Grumman in the fourth quarter valued at about $66,171,000. International Assets Investment Management LLC bought a new stake in shares of Northrop Grumman in the fourth quarter valued at about $622,000. Finally, National Bank of Canada FI boosted its position in shares of Northrop Grumman by 154.7% in the third quarter. National Bank of Canada FI now owns 157,601 shares of the aerospace company’s stock valued at $83,224,000 after acquiring an additional 95,724 shares during the period. 83.40% of the stock is currently owned by institutional investors and hedge funds.

Northrop Grumman Price Performance

Northrop Grumman stock opened at $461.03 on Wednesday. The stock has a market capitalization of $66.74 billion, a price-to-earnings ratio of 16.27, a PEG ratio of 3.73 and a beta of 0.35. Northrop Grumman Co. has a 52-week low of $418.60 and a 52-week high of $555.57. The stock’s 50 day moving average price is $469.99 and its two-hundred day moving average price is $497.05. 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 (NYSE:NOC) last issued its earnings results on Thursday, January 30th. The aerospace company reported $6.39 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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, equities analysts predict 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 repurchase plan on Wednesday, December 11th that authorizes the company to buyback $3.00 billion in outstanding shares. This buyback authorization authorizes the aerospace company to repurchase up to 4.3% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s management believes its shares are undervalued.

Northrop Grumman Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 19th. Investors of record on Monday, March 3rd will be issued a $2.06 dividend. This represents a $8.24 dividend on an annualized basis and a dividend yield of 1.79%. The ex-dividend date of this dividend is Monday, March 3rd. Northrop Grumman’s dividend payout ratio is currently 29.08%.

Insider Buying and Selling

In related news, VP Benjamin R. Davies sold 192 shares of the stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $429.08, for a total value of $82,383.36. Following the transaction, the vice president now directly owns 709 shares in the company, valued at $304,217.72. This trade represents a 21.31 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders have sold a total of 291 shares of company stock worth $129,184 in the last ninety days. Corporate insiders own 0.22% of the company’s stock.

Wall Street Analysts Forecast Growth

NOC has been the subject of several recent analyst reports. Truist Financial initiated coverage on shares of Northrop Grumman in a research report on Tuesday, January 14th. They set a “buy” rating and a $544.00 price objective for the company. UBS Group lowered their price objective on Northrop Grumman from $579.00 to $558.00 and set a “buy” rating for the company in a research note on Friday, January 31st. StockNews.com downgraded Northrop Grumman from a “strong-buy” rating to a “buy” rating in a research note on Monday, February 3rd. Wolfe Research raised shares of Northrop Grumman from an “underperform” rating to a “peer perform” rating in a research report on Monday, February 3rd. Finally, Barclays decreased their target price on shares of 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. Nine equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $544.56.

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.