Kentucky Retirement Systems Insurance Trust Fund Acquires 3,791 Shares of Northrop Grumman Co. (NYSE:NOC)

Kentucky Retirement Systems Insurance Trust Fund grew its holdings in Northrop Grumman Co. (NYSE:NOC) by 93.1% in the fourth quarter, HoldingsChannel reports. The fund owned 7,861 shares of the aerospace company’s stock after buying an additional 3,791 shares during the period. Kentucky Retirement Systems Insurance Trust Fund’s holdings in Northrop Grumman were worth $3,689,000 as of its most recent filing with the SEC.

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

Northrop Grumman Stock Performance

NYSE:NOC opened at $438.70 on Tuesday. The company has a market capitalization of $63.51 billion, a PE ratio of 15.48, a P/E/G ratio of 3.00 and a beta of 0.35. The company has a 50 day simple moving average of $474.95 and a two-hundred day simple moving average of $499.39. 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 Co. has a fifty-two week low of $418.60 and a fifty-two week high of $555.57.

Northrop Grumman (NYSE:NOC) last announced its quarterly earnings data on Thursday, January 30th. The aerospace company reported $6.39 EPS for the quarter, topping 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%. Research analysts anticipate that Northrop Grumman Co. will post 27.94 earnings per share for the current year.

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

Northrop Grumman Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, December 18th. Stockholders of record on Monday, December 2nd were given a dividend of $2.06 per share. This represents a $8.24 annualized dividend and a dividend yield of 1.88%. The ex-dividend date was Monday, December 2nd. Northrop Grumman’s dividend payout ratio (DPR) is 29.08%.

Analysts Set New Price Targets

A number of research analysts recently commented on NOC shares. Citigroup boosted their price target on Northrop Grumman from $587.00 to $591.00 and gave the company a “buy” rating in a research note on Monday, February 10th. StockNews.com cut shares of Northrop Grumman from a “strong-buy” rating to a “buy” rating in a report on Monday, February 3rd. Wells Fargo & Company dropped their target price 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. Royal Bank of Canada increased their target price on shares of Northrop Grumman from $500.00 to $540.00 and gave the stock a “sector perform” rating in a report on Friday, October 25th. Finally, Barclays dropped their target price on shares of Northrop Grumman from $550.00 to $500.00 and set an “equal weight” rating for the company in a report on Monday, January 6th. Nine investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, Northrop Grumman 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.