International Assets Investment Management LLC Takes Position in Northrop Grumman Co. (NYSE:NOC)

International Assets Investment Management LLC bought a new stake in shares of Northrop Grumman Co. (NYSE:NOC) during the 4th quarter, HoldingsChannel reports. The institutional investor bought 126,027 shares of the aerospace company’s stock, valued at approximately $622,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of NOC. Two Sigma Advisers LP increased its stake in Northrop Grumman by 102.6% in the third quarter. Two Sigma Advisers LP now owns 735,600 shares of the aerospace company’s stock worth $388,448,000 after purchasing an additional 372,500 shares during the period. Marshall Wace LLP bought a new position in shares of Northrop Grumman in the second quarter worth about $74,206,000. Canada Pension Plan Investment Board increased its stake in Northrop Grumman by 113.6% in the 2nd quarter. Canada Pension Plan Investment Board now owns 296,844 shares of the aerospace company’s stock worth $129,409,000 after buying an additional 157,854 shares during the period. Legal & General Group Plc lifted its holdings in Northrop Grumman by 16.0% during the 2nd quarter. Legal & General Group Plc now owns 1,087,913 shares of the aerospace company’s stock valued at $474,276,000 after buying an additional 150,367 shares in the last quarter. Finally, Franklin Resources Inc. boosted its position 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 buying an additional 141,816 shares during the period. Hedge funds and other institutional investors own 83.40% of the company’s stock.

Wall Street Analysts Forecast Growth

NOC has been the topic of a number of research reports. UBS Group raised their target price on shares of Northrop Grumman from $614.00 to $643.00 and gave the stock a “buy” rating in a research report on Friday, October 25th. Citigroup lifted their target price on Northrop Grumman from $521.00 to $587.00 and gave the company a “neutral” rating in a research report on Thursday, October 10th. 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 research note on Friday, October 25th. TD Cowen raised shares of Northrop Grumman to a “hold” rating in a research note on Tuesday, October 8th. Finally, Susquehanna cut their target price on shares of Northrop Grumman from $625.00 to $557.00 and set a “positive” rating on the stock in a research report on Wednesday. Nine research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $551.40.

Insider Transactions at Northrop Grumman

In related news, VP Benjamin R. Davies sold 1,156 shares of the firm’s stock in a transaction on Monday, November 11th. The stock was 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 owns 537 shares in the company, valued at $286,183.41. This trade represents a 68.28 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Over the last ninety days, insiders sold 1,255 shares of company stock worth $663,859. Company insiders own 0.22% of the company’s stock.

Northrop Grumman Stock Performance

Shares of NOC opened at $458.37 on Friday. The company has a current ratio of 1.09, a quick ratio of 0.97 and a debt-to-equity ratio of 1.00. The firm has a market cap of $66.78 billion, a PE ratio of 28.40, a P/E/G ratio of 0.97 and a beta of 0.35. Northrop Grumman Co. has a 12 month low of $418.60 and a 12 month high of $555.57. The stock has a fifty day moving average price of $484.74 and a 200-day moving average price of $492.20.

Northrop Grumman (NYSE:NOC) last issued its quarterly earnings results on Thursday, October 24th. The aerospace company reported $7.00 earnings per share for the quarter, topping the consensus estimate 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 last year, the company earned $6.18 earnings per share. The company’s quarterly revenue was up 2.3% on a year-over-year basis. Equities research analysts predict that Northrop Grumman Co. will post 25.93 earnings per share for the current fiscal year.

Northrop Grumman Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, December 18th. Shareholders of record on Monday, December 2nd were issued a $2.06 dividend. The ex-dividend date of this dividend was Monday, December 2nd. This represents a $8.24 dividend on an annualized basis and a dividend yield of 1.80%. Northrop Grumman’s dividend payout ratio is currently 51.05%.

Northrop Grumman announced that its board has approved a share buyback program on Wednesday, December 11th that permits the company to buyback $3.00 billion in shares. This buyback authorization permits the aerospace company to buy 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 stock is undervalued.

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.