Diversified Trust Co Buys 2,886 Shares of Northrop Grumman Co. (NYSE:NOC)

Diversified Trust Co lifted its stake in shares of Northrop Grumman Co. (NYSE:NOC) by 143.2% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 4,902 shares of the aerospace company’s stock after purchasing an additional 2,886 shares during the quarter. Diversified Trust Co’s holdings in Northrop Grumman were worth $2,300,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the stock. Two Sigma Advisers LP increased its position 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 valued at $388,448,000 after buying an additional 372,500 shares during the period. Marshall Wace LLP purchased a new position in Northrop Grumman during the second quarter valued at approximately $74,206,000. Canada Pension Plan Investment Board increased its holdings in Northrop Grumman by 113.6% during the 2nd quarter. Canada Pension Plan Investment Board now owns 296,844 shares of the aerospace company’s stock worth $129,409,000 after acquiring an additional 157,854 shares during the period. Legal & General Group Plc lifted its stake in Northrop Grumman by 16.0% in the 2nd quarter. Legal & General Group Plc now owns 1,087,913 shares of the aerospace company’s stock worth $474,276,000 after purchasing an additional 150,367 shares in the last quarter. Finally, Franklin Resources Inc. boosted its holdings in Northrop Grumman by 6.2% in the 3rd 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 period. Hedge funds and other institutional investors own 83.40% of the company’s stock.

Insider Transactions at Northrop Grumman

In related news, VP Benjamin R. Davies sold 1,156 shares of the business’s stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $532.93, for a total value of $616,067.08. Following the completion of the transaction, the vice president now directly owns 537 shares in the company, valued at $286,183.41. The trade was a 68.28 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders sold a total of 1,255 shares of company stock valued at $663,859 in the last quarter. 0.22% of the stock is owned by insiders.

Northrop Grumman Stock Down 0.6 %

NOC stock opened at $452.47 on Wednesday. The company has a market capitalization of $65.92 billion, a price-to-earnings ratio of 28.03, a price-to-earnings-growth ratio of 0.97 and a beta of 0.35. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.97 and a current ratio of 1.09. The business’s 50 day moving average price is $487.49 and its two-hundred day moving average price is $492.42. Northrop Grumman Co. has a fifty-two week low of $418.60 and a fifty-two week high of $555.57.

Northrop Grumman (NYSE:NOC) last posted its quarterly earnings data on Thursday, October 24th. The aerospace company reported $7.00 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $6.07 by $0.93. Northrop Grumman had a return on equity of 26.57% and a net margin of 5.79%. The business had revenue of $10 billion during the quarter, compared to the consensus estimate of $10.18 billion. During the same quarter in the prior year, the company earned $6.18 earnings per share. The firm’s quarterly revenue was up 2.3% compared to the same quarter last year. As a group, analysts forecast that Northrop Grumman Co. will post 25.93 earnings per share for the current fiscal year.

Northrop Grumman announced that its board has approved a stock repurchase program on Wednesday, December 11th that allows the company to repurchase $3.00 billion in shares. This repurchase authorization allows the aerospace company to purchase up to 4.3% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board believes its shares are undervalued.

Northrop Grumman Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, December 18th. Stockholders of record on Monday, December 2nd were issued a dividend of $2.06 per share. The ex-dividend date of this dividend was Monday, December 2nd. This represents a $8.24 annualized dividend and a dividend yield of 1.82%. Northrop Grumman’s payout ratio is presently 51.05%.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on NOC shares. Susquehanna increased their price objective on Northrop Grumman from $560.00 to $625.00 and gave the stock a “positive” rating in a research report on Friday, October 25th. Royal Bank of Canada raised their price target on Northrop Grumman from $500.00 to $540.00 and gave the company a “sector perform” rating in a report on Friday, October 25th. JPMorgan Chase & Co. boosted their price objective on Northrop Grumman from $500.00 to $560.00 and gave the stock a “neutral” rating in a report on Monday, October 14th. UBS Group raised their target price on shares of Northrop Grumman from $614.00 to $643.00 and gave the company a “buy” rating in a research note on Friday, October 25th. Finally, TD Cowen raised shares of Northrop Grumman to a “hold” rating in a research note on Tuesday, October 8th. Ten research analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $549.93.

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.