AlphaQuest LLC Has $1.77 Million Holdings in Northrop Grumman Co. (NYSE:NOC)

AlphaQuest LLC raised its position in shares of Northrop Grumman Co. (NYSE:NOC) by 59.2% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 3,774 shares of the aerospace company’s stock after acquiring an additional 1,403 shares during the period. AlphaQuest LLC’s holdings in Northrop Grumman were worth $1,771,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of NOC. Concurrent Investment Advisors LLC raised its position in Northrop Grumman by 9.3% in the 3rd quarter. Concurrent Investment Advisors LLC now owns 2,026 shares of the aerospace company’s stock valued at $1,070,000 after purchasing an additional 173 shares during the last quarter. Principal Financial Group Inc. increased its stake in shares of Northrop Grumman by 3.1% in the third quarter. Principal Financial Group Inc. now owns 166,434 shares of the aerospace company’s stock valued at $87,889,000 after buying an additional 4,969 shares in the last quarter. Kornitzer Capital Management Inc. KS raised its holdings in shares of Northrop Grumman by 7.1% in the third quarter. Kornitzer Capital Management Inc. KS now owns 2,099 shares of the aerospace company’s stock valued at $1,108,000 after buying an additional 140 shares during the last quarter. Portside Wealth Group LLC acquired a new position in Northrop Grumman during the 3rd quarter worth about $974,000. Finally, TFB Advisors LLC acquired a new position in Northrop Grumman during the 3rd quarter worth about $202,000. Institutional investors own 83.40% of the company’s stock.

Analyst Ratings Changes

NOC has been the subject of several research reports. Wolfe Research raised shares of Northrop Grumman from an “underperform” rating to a “peer perform” rating in a research note on Monday, February 3rd. Wells Fargo & Company boosted their price objective on shares of Northrop Grumman from $545.00 to $547.00 and gave the stock an “overweight” rating in a research report on Friday. Truist Financial started coverage on Northrop Grumman in a report on Tuesday, January 14th. They set a “buy” rating and a $544.00 price objective on the stock. Susquehanna lowered their target price on Northrop Grumman from $625.00 to $557.00 and set a “positive” rating for the company in a research note on Wednesday, January 8th. Finally, UBS Group cut their price target on Northrop Grumman from $579.00 to $558.00 and set a “buy” rating on the stock in a research note on Friday, January 31st. Nine investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $542.88.

Northrop Grumman Stock Performance

Shares of NYSE:NOC opened at $487.22 on Friday. The firm’s 50 day simple moving average is $469.88 and its 200 day simple moving average is $495.11. Northrop Grumman Co. has a fifty-two week low of $418.60 and a fifty-two week high of $555.57. The company has a market capitalization of $70.53 billion, a price-to-earnings ratio of 17.19, a P/E/G ratio of 3.73 and a beta of 0.31. The company has a debt-to-equity ratio of 0.96, a current ratio of 1.01 and a quick ratio of 0.91.

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, 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%. As a group, sell-side analysts forecast that Northrop Grumman Co. will post 28.05 earnings per share for the current year.

Northrop Grumman Dividend Announcement

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 issued a dividend of $2.06 per share. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $8.24 annualized dividend and a yield of 1.69%. Northrop Grumman’s dividend payout ratio is presently 29.08%.

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

Insider Buying and Selling at Northrop Grumman

In related news, CEO Kathy J. Warden sold 3,750 shares of the business’s stock in a transaction that occurred on Thursday, March 6th. The stock was sold at an average price of $475.65, for a total value of $1,783,687.50. Following the completion of the transaction, the chief executive officer now directly owns 212,852 shares in the company, valued at approximately $101,243,053.80. The trade was a 1.73 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Benjamin R. Davies sold 464 shares of the stock in a transaction that occurred on Friday, February 28th. The stock was sold at an average price of $460.75, for a total value of $213,788.00. Following the sale, the vice president now directly owns 245 shares of the company’s stock, valued at approximately $112,883.75. The trade was a 65.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 4,505 shares of company stock valued at $2,126,405. Company insiders own 0.22% of the company’s stock.

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.