Northrop Grumman Co. (NYSE:NOC) Holdings Reduced by ING Groep NV

ING Groep NV decreased its position in Northrop Grumman Co. (NYSE:NOC) by 4.9% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 17,492 shares of the aerospace company’s stock after selling 893 shares during the period. ING Groep NV’s holdings in Northrop Grumman were worth $8,209,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. RPg Family Wealth Advisory LLC bought a new position in Northrop Grumman in the 3rd quarter worth about $31,000. Albion Financial Group UT bought a new position in shares of Northrop Grumman in the fourth quarter valued at approximately $33,000. FSA Wealth Management LLC bought a new position in shares of Northrop Grumman in the third quarter valued at approximately $36,000. Modus Advisors LLC bought a new position in shares of Northrop Grumman in the fourth quarter valued at approximately $38,000. Finally, Catalyst Capital Advisors LLC bought a new position in shares of Northrop Grumman in the third quarter valued at approximately $40,000. Institutional investors own 83.40% of the company’s stock.

Northrop Grumman Stock Up 2.4 %

Shares of NYSE:NOC opened at $448.59 on Friday. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.91 and a current ratio of 1.01. The company has a market cap of $64.94 billion, a PE ratio of 15.83, a price-to-earnings-growth ratio of 3.69 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 firm has a 50 day simple moving average of $471.03 and a 200 day simple moving average of $497.45.

Northrop Grumman (NYSE:NOC) last issued its quarterly earnings results on Thursday, January 30th. The aerospace company reported $6.39 EPS 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%. As a group, research analysts expect that Northrop Grumman Co. will post 28.05 earnings per share for the current year.

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

Northrop Grumman Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, March 19th. Shareholders of record on Monday, March 3rd will be given a $2.06 dividend. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $8.24 dividend on an annualized basis and a yield of 1.84%. Northrop Grumman’s payout ratio is 29.08%.

Analysts Set New Price Targets

Several research analysts have recently issued reports on NOC shares. Wolfe Research upgraded shares of Northrop Grumman from an “underperform” rating to a “peer perform” rating in a report on Monday, February 3rd. Wells Fargo & Company decreased their price objective on shares of Northrop Grumman from $595.00 to $574.00 and set an “overweight” rating for the company in a report on Friday, January 31st. StockNews.com cut shares of Northrop Grumman from a “strong-buy” rating to a “buy” rating in a report on Monday, February 3rd. Citigroup increased their price objective on shares of Northrop Grumman from $587.00 to $591.00 and gave the company a “buy” rating in a report on Monday, February 10th. Finally, Truist Financial assumed coverage on shares of Northrop Grumman in a research note on Tuesday, January 14th. They set a “buy” rating and a $544.00 target price for the company. Nine equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, Northrop Grumman currently has an average rating of “Moderate Buy” and an average price target of $544.56.

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.