Northrop Grumman Co. (NYSE:NOC) Shares Purchased by Olympiad Research LP

Olympiad Research LP increased its position in shares of Northrop Grumman Co. (NYSE:NOC) by 24.0% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 578 shares of the aerospace company’s stock after buying an additional 112 shares during the quarter. Olympiad Research LP’s holdings in Northrop Grumman were worth $271,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. RPg Family Wealth Advisory LLC purchased a new position in shares of Northrop Grumman during the third quarter worth approximately $31,000. Albion Financial Group UT acquired a new stake in Northrop Grumman during the 4th quarter worth $33,000. FSA Wealth Management LLC purchased a new position in Northrop Grumman during the 3rd quarter worth $36,000. Modus Advisors LLC purchased a new position in Northrop Grumman during the 4th quarter worth $38,000. Finally, Catalyst Capital Advisors LLC acquired a new position in Northrop Grumman in the third quarter valued at $40,000. Institutional investors and hedge funds own 83.40% of the company’s stock.

Northrop Grumman Price Performance

NOC stock opened at $448.59 on Monday. The company has a market cap of $64.94 billion, a price-to-earnings ratio of 15.83, a PEG ratio of 3.73 and a beta of 0.35. The company has a current ratio of 1.01, a quick ratio of 0.91 and a debt-to-equity ratio of 0.96. The firm has a 50 day moving average of $471.03 and a 200-day moving average of $497.58. Northrop Grumman Co. has a 12-month low of $418.60 and a 12-month high of $555.57.

Northrop Grumman (NYSE:NOC) last posted its earnings results on Thursday, January 30th. The aerospace company reported $6.39 earnings per share for the quarter, beating the consensus estimate 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 analysts expect that Northrop Grumman Co. will post 28.05 EPS for the current fiscal year.

Northrop Grumman announced that its board has approved a stock repurchase plan on Wednesday, December 11th that allows the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization allows the aerospace company to purchase up to 4.3% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board of directors believes its shares are undervalued.

Northrop Grumman Announces Dividend

The firm 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 dividend of $2.06 per share. This represents a $8.24 dividend on an annualized basis and a yield of 1.84%. The ex-dividend date is Monday, March 3rd. Northrop Grumman’s payout ratio is currently 29.08%.

Wall Street Analyst Weigh In

NOC has been the subject of several recent research reports. Citigroup increased their target price on shares of Northrop Grumman from $587.00 to $591.00 and gave the stock a “buy” rating in a research note on Monday, February 10th. Truist Financial assumed coverage on Northrop Grumman in a research note on Tuesday, January 14th. They issued a “buy” rating and a $544.00 target price on the stock. 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 research note on Friday, January 31st. Susquehanna decreased their price target on Northrop Grumman from $625.00 to $557.00 and set a “positive” rating for the company in a report on Wednesday, January 8th. Finally, 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 research report on Friday, January 31st. Nine equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $544.56.

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.