Phraction Management LLC Reduces Position in Northrop Grumman Co. (NYSE:NOC)

Phraction Management LLC trimmed its holdings in shares of Northrop Grumman Co. (NYSE:NOC) by 3.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 2,668 shares of the aerospace company’s stock after selling 85 shares during the quarter. Phraction Management LLC’s holdings in Northrop Grumman were worth $1,252,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Wellington Management Group LLP increased its position in shares of Northrop Grumman by 0.4% during the third quarter. Wellington Management Group LLP now owns 4,140,892 shares of the aerospace company’s stock worth $2,186,681,000 after acquiring an additional 17,596 shares during the last quarter. Geode Capital Management LLC increased its holdings in Northrop Grumman by 0.6% in the third quarter. Geode Capital Management LLC now owns 3,003,360 shares of the aerospace company’s stock valued at $1,581,644,000 after buying an additional 18,791 shares during the last quarter. Franklin Resources Inc. increased its holdings in Northrop Grumman by 6.2% in the third quarter. Franklin Resources Inc. now owns 2,426,270 shares of the aerospace company’s stock valued at $1,315,729,000 after buying an additional 141,816 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in Northrop Grumman by 0.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 809,445 shares of the aerospace company’s stock valued at $427,444,000 after buying an additional 3,211 shares during the last quarter. Finally, Two Sigma Advisers LP increased its holdings in Northrop Grumman by 102.6% in the third 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 during the last quarter. 83.40% of the stock is owned by hedge funds and other institutional investors.

Northrop Grumman Stock Performance

NOC stock opened at $471.25 on Thursday. The company has a market capitalization of $68.22 billion, a P/E ratio of 16.63, a PEG ratio of 3.00 and a beta of 0.35. The company has a 50-day simple moving average of $476.46 and a 200 day simple moving average of $499.98. 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 quick ratio of 0.91, a current ratio of 1.01 and a debt-to-equity ratio of 0.96.

Northrop Grumman (NYSE:NOC) last posted 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 return on equity of 26.24% and a net margin of 10.17%. Sell-side analysts predict that Northrop Grumman Co. will post 27.94 earnings per share for the current fiscal year.

Northrop Grumman announced that its Board of Directors has authorized a share buyback plan on Wednesday, December 11th that allows the company to repurchase $3.00 billion in shares. This repurchase authorization allows the aerospace company to repurchase 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 shares are undervalued.

Northrop Grumman Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, December 18th. Shareholders of record on Monday, December 2nd were issued a $2.06 dividend. This represents a $8.24 dividend on an annualized basis and a yield of 1.75%. The ex-dividend date was Monday, December 2nd. Northrop Grumman’s payout ratio is 29.08%.

Analysts Set New Price Targets

Several brokerages recently weighed in on NOC. Truist Financial began coverage on Northrop Grumman in a report on Tuesday, January 14th. They issued a “buy” rating and a $544.00 price objective for the company. StockNews.com lowered Northrop Grumman from a “strong-buy” rating to a “buy” rating in a report on Monday, February 3rd. Barclays lowered their price objective 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 decreased 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, Wells Fargo & Company decreased their target price on Northrop Grumman from $595.00 to $574.00 and set an “overweight” rating for the company in a research note on Friday, January 31st. Nine research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently 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.