Brooklyn Investment Group Purchases 28 Shares of Northrop Grumman Co. (NYSE:NOC)

Brooklyn Investment Group boosted its holdings in shares of Northrop Grumman Co. (NYSE:NOC) by 2.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,092 shares of the aerospace company’s stock after buying an additional 28 shares during the period. Brooklyn Investment Group’s holdings in Northrop Grumman were worth $512,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of NOC. Wellington Management Group LLP lifted its position in Northrop Grumman by 0.4% during the 3rd quarter. Wellington Management Group LLP now owns 4,140,892 shares of the aerospace company’s stock worth $2,186,681,000 after buying an additional 17,596 shares in the last quarter. Geode Capital Management LLC raised its position in shares of Northrop Grumman by 0.6% during the third quarter. Geode Capital Management LLC now owns 3,003,360 shares of the aerospace company’s stock worth $1,581,644,000 after acquiring an additional 18,791 shares during the last quarter. Franklin Resources Inc. lifted its stake in shares of Northrop Grumman by 6.2% during 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 acquiring an additional 141,816 shares during the period. Legal & General Group Plc increased its position in Northrop Grumman by 16.0% in the second quarter. Legal & General Group Plc now owns 1,087,913 shares of the aerospace company’s stock worth $474,276,000 after purchasing an additional 150,367 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its holdings in Northrop Grumman by 0.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 809,445 shares of the aerospace company’s stock worth $427,444,000 after purchasing an additional 3,211 shares during the last quarter. Institutional investors own 83.40% of the company’s stock.

Insider Buying and Selling

In related 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 transaction of $616,067.08. Following the sale, the vice president now owns 537 shares in the company, valued at approximately $286,183.41. This trade represents a 68.28 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders have sold 1,255 shares of company stock valued at $663,859 over the last 90 days. 0.22% of the stock is owned by corporate insiders.

Northrop Grumman Stock Up 0.3 %

Northrop Grumman stock opened at $482.49 on Friday. The stock has a market cap of $70.30 billion, a P/E ratio of 29.89, a P/E/G ratio of 0.87 and a beta of 0.35. The company has a quick ratio of 0.97, a current ratio of 1.09 and a debt-to-equity ratio of 1.00. Northrop Grumman Co. has a twelve month low of $418.60 and a twelve month high of $555.57. The company’s 50-day moving average price is $481.48 and its two-hundred day moving average price is $493.38.

Northrop Grumman (NYSE:NOC) last posted its earnings results on Thursday, October 24th. The aerospace company reported $7.00 earnings per share for the quarter, topping analysts’ consensus estimates of $6.07 by $0.93. Northrop Grumman had a return on equity of 26.57% and a net margin of 5.79%. The company had revenue of $10 billion during the quarter, compared to the consensus estimate of $10.18 billion. During the same quarter last year, the firm earned $6.18 earnings per share. The company’s revenue was up 2.3% on a year-over-year basis. As a group, analysts expect that Northrop Grumman Co. will post 25.93 EPS for the current year.

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

Northrop Grumman Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, December 18th. Investors of record on Monday, December 2nd were paid a $2.06 dividend. This represents a $8.24 annualized dividend and a dividend yield of 1.71%. The ex-dividend date of this dividend was Monday, December 2nd. Northrop Grumman’s dividend payout ratio (DPR) is currently 51.05%.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on NOC shares. Truist Financial started coverage on Northrop Grumman in a report on Tuesday. They set a “buy” rating and a $544.00 target price on the stock. StockNews.com lowered shares of Northrop Grumman from a “strong-buy” rating to a “buy” rating in a research note on Saturday, January 11th. Royal Bank of Canada boosted their price target on Northrop Grumman from $500.00 to $540.00 and gave the company a “sector perform” rating in a report on Friday, October 25th. Wells Fargo & Company upgraded Northrop Grumman from an “equal weight” rating to an “overweight” rating and set a $595.00 price objective for the company in a report on Wednesday, January 8th. Finally, Barclays dropped their target price on Northrop Grumman from $550.00 to $500.00 and set an “equal weight” rating on the stock in a research report on Monday, January 6th. Nine investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, Northrop Grumman has an average rating of “Hold” and an average price target of $550.94.

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.