Northrop Grumman Co. (NYSE:NOC) Shares Sold by TIAA Trust National Association

TIAA Trust National Association trimmed its holdings in shares of Northrop Grumman Co. (NYSE:NOC) by 0.7% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 17,187 shares of the aerospace company’s stock after selling 115 shares during the period. TIAA Trust National Association’s holdings in Northrop Grumman were worth $8,066,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also made changes to their positions in the company. Two Sigma Advisers LP raised its holdings in 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 purchasing an additional 372,500 shares in the last quarter. Raymond James Financial Inc. acquired a new position in shares of Northrop Grumman in the 4th quarter valued at $171,580,000. Prudential Financial Inc. boosted its stake 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 purchasing an additional 227,314 shares during the period. Proficio Capital Partners LLC purchased a new position in Northrop Grumman during the 4th quarter worth $94,370,000. Finally, Franklin Resources Inc. increased its stake 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 period. 83.40% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CEO Kathy J. Warden sold 3,750 shares of Northrop Grumman stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $475.65, for a total transaction of $1,783,687.50. Following the completion of the sale, the chief executive officer now owns 212,852 shares in the company, 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 this hyperlink. Also, VP Benjamin R. Davies sold 464 shares of the company’s stock in a transaction dated Friday, February 28th. The shares were sold at an average price of $460.75, for a total transaction of $213,788.00. Following the completion of the transaction, the vice president now owns 245 shares in the company, valued at approximately $112,883.75. This trade represents a 65.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 4,505 shares of company stock worth $2,126,405 in the last ninety days. Insiders own 0.22% of the company’s stock.

Analyst Upgrades and Downgrades

NOC has been the subject of several recent research reports. Susquehanna decreased their target price on shares of Northrop Grumman from $625.00 to $557.00 and set a “positive” rating for the company in a research note on Wednesday, January 8th. Citigroup lifted their target price on Northrop Grumman from $587.00 to $591.00 and gave the company a “buy” rating in a research note on Monday, February 10th. Argus upgraded shares of Northrop Grumman to a “strong-buy” rating in a research report on Wednesday, February 26th. Wolfe Research upgraded shares of Northrop Grumman from an “underperform” rating to a “peer perform” rating in a research report on Monday, February 3rd. Finally, Barclays lowered their target price on shares of Northrop Grumman from $550.00 to $500.00 and set an “equal weight” rating on the stock in a report on Monday, January 6th. Nine research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Northrop Grumman presently has a consensus rating of “Moderate Buy” and an average price target of $542.88.

Northrop Grumman Stock Up 2.4 %

Northrop Grumman stock opened at $506.88 on Wednesday. Northrop Grumman Co. has a fifty-two week low of $418.60 and a fifty-two week high of $555.57. The firm has a market capitalization of $73.37 billion, a price-to-earnings ratio of 17.89, a price-to-earnings-growth ratio of 3.73 and a beta of 0.31. The stock’s fifty day moving average is $476.25 and its two-hundred day moving average is $492.88. 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 quarterly earnings data on Thursday, January 30th. The aerospace company reported $6.39 EPS for the quarter, beating analysts’ consensus estimates of $6.27 by $0.12. Northrop Grumman had a net margin of 10.17% and a return on equity of 26.24%. Analysts predict that Northrop Grumman Co. will post 28.05 EPS for the current fiscal 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 shares. This repurchase authorization allows the aerospace company to repurchase up to 4.3% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board believes its stock is undervalued.

Northrop Grumman Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 19th. Investors 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 annualized dividend and a dividend yield of 1.63%. Northrop Grumman’s dividend payout ratio is currently 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.