Global Retirement Partners LLC Raises Stock Position in Northrop Grumman Co. (NYSE:NOC)

Global Retirement Partners LLC raised its stake in shares of Northrop Grumman Co. (NYSE:NOC) by 11.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 947 shares of the aerospace company’s stock after purchasing an additional 98 shares during the period. Global Retirement Partners LLC’s holdings in Northrop Grumman were worth $444,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the stock. Two Sigma Advisers LP lifted its stake in Northrop Grumman by 102.6% in the 3rd 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 in the last quarter. Franklin Resources Inc. lifted 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 in the last quarter. Wedge Capital Management L L P NC acquired a new stake in shares of Northrop Grumman in the fourth quarter worth approximately $66,171,000. International Assets Investment Management LLC purchased a new stake in shares of Northrop Grumman during the fourth quarter worth approximately $622,000. Finally, National Bank of Canada FI raised its stake in Northrop Grumman by 154.7% in the 3rd quarter. National Bank of Canada FI now owns 157,601 shares of the aerospace company’s stock valued at $83,224,000 after purchasing an additional 95,724 shares during the last quarter. Institutional investors and hedge funds own 83.40% of the company’s stock.

Northrop Grumman Stock Performance

Shares of NOC stock opened at $448.59 on Monday. Northrop Grumman Co. has a one year low of $418.60 and a one year high of $555.57. 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 firm’s 50 day moving average price is $471.03 and its 200-day moving average price is $497.58. The firm has a market cap of $64.94 billion, a P/E ratio of 15.83, a P/E/G ratio of 3.73 and a beta of 0.35.

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

Northrop Grumman declared that its Board of Directors has initiated a share repurchase program on Wednesday, December 11th that permits the company to repurchase $3.00 billion in shares. This repurchase authorization permits the aerospace company to reacquire up to 4.3% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s leadership 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 paid a dividend of $2.06 per share. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $8.24 dividend on an annualized basis and a dividend yield of 1.84%. Northrop Grumman’s payout ratio is 29.08%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on NOC shares. Truist Financial initiated coverage on shares of Northrop Grumman in a report on Tuesday, January 14th. They set a “buy” rating and a $544.00 target price for the company. Wells Fargo & Company cut 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. Wolfe Research upgraded Northrop Grumman from an “underperform” rating to a “peer perform” rating in a report on Monday, February 3rd. UBS Group cut their price target on Northrop Grumman from $579.00 to $558.00 and set a “buy” rating for the company in a report on Friday, January 31st. Finally, Citigroup boosted their price objective on Northrop Grumman from $587.00 to $591.00 and gave the stock a “buy” rating in a research note on Monday, February 10th. Nine research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus 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.