Kennebec Savings Bank Increases Holdings in Northrop Grumman Co. (NYSE:NOC)

Kennebec Savings Bank lifted its position in shares of Northrop Grumman Co. (NYSE:NOC) by 3.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,266 shares of the aerospace company’s stock after buying an additional 46 shares during the quarter. Kennebec Savings Bank’s holdings in Northrop Grumman were worth $598,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in NOC. Two Sigma Advisers LP increased its position in Northrop Grumman by 102.6% during 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. grew its position in Northrop Grumman by 6.2% during the 3rd quarter. Franklin Resources Inc. now owns 2,426,270 shares of the aerospace company’s stock worth $1,315,729,000 after purchasing an additional 141,816 shares during the period. Wedge Capital Management L L P NC purchased a new position in shares of Northrop Grumman during the 4th quarter valued at about $66,171,000. International Assets Investment Management LLC purchased a new stake in Northrop Grumman in the 4th quarter worth approximately $622,000. Finally, National Bank of Canada FI increased its holdings in shares of Northrop Grumman by 154.7% during 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 in the last quarter. 83.40% of the stock is owned by hedge funds and other institutional investors.

Northrop Grumman Stock Up 0.4 %

NOC opened at $483.70 on Friday. The stock has a market capitalization of $70.48 billion, a P/E ratio of 29.97, a P/E/G ratio of 0.91 and a beta of 0.35. Northrop Grumman Co. has a 12 month low of $418.60 and a 12 month high of $555.57. The business has a 50 day simple moving average of $478.66 and a 200-day simple moving average of $497.63. The company has a debt-to-equity ratio of 1.00, a current ratio of 1.09 and a quick ratio of 0.97.

Northrop Grumman (NYSE:NOC) last released its quarterly earnings data on Thursday, January 30th. The aerospace company reported $6.39 EPS for the quarter, topping analysts’ consensus estimates of $6.27 by $0.12. Northrop Grumman had a net margin of 5.79% and a return on equity of 26.57%. On average, equities analysts anticipate that Northrop Grumman Co. will post 25.96 earnings per share for the current fiscal year.

Northrop Grumman Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, December 18th. Investors of record on Monday, December 2nd were issued a dividend of $2.06 per share. The ex-dividend date of this dividend was Monday, December 2nd. This represents a $8.24 annualized dividend and a yield of 1.70%. Northrop Grumman’s dividend payout ratio is presently 51.05%.

Northrop Grumman announced that its board has initiated a stock buyback program on Wednesday, December 11th that permits the company to buyback $3.00 billion in outstanding shares. This buyback authorization permits the aerospace company to purchase up to 4.3% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.

Analyst Upgrades and Downgrades

NOC has been the subject of a number of recent analyst reports. Citigroup raised shares of Northrop Grumman from a “neutral” rating to a “buy” rating and set a $587.00 price objective for the company in a report on Tuesday, January 21st. Truist Financial began coverage on Northrop Grumman in a research note on Tuesday, January 14th. They set a “buy” rating and a $544.00 price objective for the company. JPMorgan Chase & Co. raised their target price on shares of Northrop Grumman from $500.00 to $560.00 and gave the stock a “neutral” rating in a research note on Monday, October 14th. StockNews.com upgraded shares of Northrop Grumman from a “buy” rating to a “strong-buy” rating in a report on Sunday, January 19th. Finally, TD Cowen raised shares of Northrop Grumman to a “hold” rating in a research report on Tuesday, October 8th. Eight equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $550.94.

Insiders Place Their Bets

In other news, VP Benjamin R. Davies sold 1,156 shares of the stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $532.93, for a total value of $616,067.08. Following the sale, the vice president now directly owns 537 shares in the company, valued at $286,183.41. This represents a 68.28 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Over the last ninety days, insiders have sold 1,255 shares of company stock worth $663,859. 0.22% of the stock is owned by corporate insiders.

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.