Napatree Capital LLC Takes Position in Northrop Grumman Co. (NYSE:NOC)

Napatree Capital LLC bought a new stake in Northrop Grumman Co. (NYSE:NOC) during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 1,008 shares of the aerospace company’s stock, valued at approximately $473,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Wellington Management Group LLP boosted its stake in shares of Northrop Grumman by 0.4% in the 3rd quarter. Wellington Management Group LLP now owns 4,140,892 shares of the aerospace company’s stock valued at $2,186,681,000 after purchasing an additional 17,596 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of Northrop Grumman by 0.6% in the 3rd quarter. Geode Capital Management LLC now owns 3,003,360 shares of the aerospace company’s stock valued at $1,581,644,000 after purchasing an additional 18,791 shares in the last quarter. Franklin Resources Inc. boosted its stake in shares of Northrop Grumman by 6.2% in the 3rd quarter. Franklin Resources Inc. now owns 2,426,270 shares of the aerospace company’s stock valued at $1,315,729,000 after purchasing an additional 141,816 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of Northrop Grumman by 2.8% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 832,463 shares of the aerospace company’s stock valued at $390,667,000 after purchasing an additional 23,018 shares in the last quarter. Finally, Two Sigma Advisers LP boosted its stake in shares of Northrop Grumman by 102.6% in the 3rd quarter. Two Sigma Advisers LP now owns 735,600 shares of the aerospace company’s stock valued at $388,448,000 after purchasing an additional 372,500 shares in the last quarter. Institutional investors and hedge funds own 83.40% of the company’s stock.

Insider Activity 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 business’s stock in a transaction that occurred on Friday, February 28th. The shares were sold at an average price of $460.75, for a total value of $213,788.00. Following the completion of the transaction, the vice president now owns 245 shares of the company’s stock, valued at $112,883.75. This represents a 65.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 4,505 shares of company stock worth $2,126,405. 0.22% of the stock is owned by company insiders.

Northrop Grumman Stock Performance

Shares of NOC stock opened at $492.25 on Friday. The company has a debt-to-equity ratio of 0.96, a current ratio of 1.01 and a quick ratio of 0.91. The stock has a market cap of $71.26 billion, a PE ratio of 17.37, a price-to-earnings-growth ratio of 3.73 and a beta of 0.31. The stock has a 50-day moving average of $475.18 and a 200-day moving average of $493.32. Northrop Grumman Co. has a one year low of $418.60 and a one year high of $555.57.

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

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

Northrop Grumman Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 19th. Investors of record on Monday, March 3rd were given a $2.06 dividend. The ex-dividend date was Monday, March 3rd. This represents a $8.24 annualized dividend and a dividend yield of 1.67%. Northrop Grumman’s dividend payout ratio is presently 29.08%.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the company. Barclays cut their price target on Northrop Grumman from $550.00 to $500.00 and set an “equal weight” rating for the company in a report on Monday, January 6th. Susquehanna cut 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. StockNews.com cut Northrop Grumman from a “strong-buy” rating to a “buy” rating in a report on Monday, February 3rd. Argus raised Northrop Grumman to a “strong-buy” rating in a report on Wednesday, February 26th. Finally, Truist Financial assumed coverage on Northrop Grumman in a report on Tuesday, January 14th. They issued a “buy” rating and a $544.00 price target for the company. Nine equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $542.88.

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.