Teacher Retirement System of Texas Increases Stock Position in Northrop Grumman Co. (NYSE:NOC)

Teacher Retirement System of Texas raised its stake in shares of Northrop Grumman Co. (NYSE:NOC) by 74.4% in the 4th quarter, HoldingsChannel reports. The firm owned 156,149 shares of the aerospace company’s stock after purchasing an additional 66,638 shares during the period. Teacher Retirement System of Texas’ holdings in Northrop Grumman were worth $73,279,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. RPg Family Wealth Advisory LLC bought a new stake in shares of Northrop Grumman during the 3rd quarter worth $31,000. Whipplewood Advisors LLC purchased a new stake in Northrop Grumman during the fourth quarter valued at about $31,000. Albion Financial Group UT bought a new stake in Northrop Grumman during the fourth quarter worth about $33,000. FSA Wealth Management LLC bought a new stake in Northrop Grumman during the third quarter worth about $36,000. Finally, Modus Advisors LLC purchased a new position in shares of Northrop Grumman in the 4th quarter worth about $38,000. Hedge funds and other institutional investors own 83.40% of the company’s stock.

Northrop Grumman Stock Performance

NYSE:NOC opened at $491.56 on Thursday. The company has a quick ratio of 0.91, a current ratio of 1.01 and a debt-to-equity ratio of 0.96. The firm’s fifty day simple moving average is $473.98 and its 200 day simple moving average is $493.77. The stock has a market cap of $71.16 billion, a P/E ratio of 17.35, a price-to-earnings-growth ratio of 3.73 and a beta of 0.31. Northrop Grumman Co. has a twelve month low of $418.60 and a twelve 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, topping 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, research analysts predict that Northrop Grumman Co. will post 28.05 EPS for the current year.

Northrop Grumman Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 19th. Investors of record on Monday, March 3rd were given a dividend of $2.06 per share. The ex-dividend date was Monday, March 3rd. This represents a $8.24 dividend on an annualized basis and a yield of 1.68%. Northrop Grumman’s dividend payout ratio (DPR) is currently 29.08%.

Northrop Grumman announced that its board has authorized a share repurchase plan on Wednesday, December 11th that permits the company to buyback $3.00 billion in shares. This buyback authorization permits the aerospace company to purchase up to 4.3% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s board believes its shares are undervalued.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on NOC. StockNews.com downgraded Northrop Grumman from a “strong-buy” rating to a “buy” rating in a research report on Monday, February 3rd. Citigroup boosted their price objective on shares of Northrop Grumman from $587.00 to $591.00 and gave the stock a “buy” rating in a report on Monday, February 10th. Wells Fargo & Company increased their target price on shares of Northrop Grumman from $545.00 to $547.00 and gave the company an “overweight” rating in a report on Friday, March 7th. Argus raised shares of Northrop Grumman to a “strong-buy” rating in a research note on Wednesday, February 26th. Finally, Susquehanna reduced their price objective on Northrop Grumman from $625.00 to $557.00 and set a “positive” rating on the stock in a research note on Wednesday, January 8th. Nine analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $542.88.

Insider Buying and Selling

In other 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 sale, the chief executive officer now directly owns 212,852 shares of the company’s stock, valued at $101,243,053.80. The trade was a 1.73 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP Benjamin R. Davies sold 192 shares of the firm’s stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $429.08, for a total value of $82,383.36. Following the transaction, the vice president now directly owns 709 shares of the company’s stock, valued at approximately $304,217.72. This trade represents a 21.31 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 4,505 shares of company stock valued at $2,126,405 over the last quarter. Corporate insiders own 0.22% of the company’s stock.

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.