Gateway Investment Advisers LLC Has $4.60 Million Stake in Northrop Grumman Co. (NYSE:NOC)

Gateway Investment Advisers LLC cut its position in Northrop Grumman Co. (NYSE:NOC) by 0.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 9,795 shares of the aerospace company’s stock after selling 64 shares during the quarter. Gateway Investment Advisers LLC’s holdings in Northrop Grumman were worth $4,597,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in NOC. RPg Family Wealth Advisory LLC bought a new position in Northrop Grumman during the third quarter worth $31,000. FSA Wealth Management LLC acquired a new position in Northrop Grumman in the third quarter worth about $36,000. Catalyst Capital Advisors LLC acquired a new position in shares of Northrop Grumman in the 3rd quarter worth approximately $40,000. Modus Advisors LLC acquired a new position in Northrop Grumman during the fourth quarter worth $38,000. Finally, True Wealth Design LLC bought a new position in Northrop Grumman during the 3rd quarter valued at about $53,000. 83.40% of the stock is currently owned by institutional investors.

Insider Activity at Northrop Grumman

In other news, VP Benjamin R. Davies sold 1,156 shares of Northrop Grumman stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $532.93, for a total transaction of $616,067.08. Following the completion of the transaction, the vice president now directly owns 537 shares in the company, valued at $286,183.41. This trade represents a 68.28 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders sold 1,255 shares of company stock valued at $663,859 in the last three months. Corporate insiders own 0.22% of the company’s stock.

Analyst Ratings Changes

Several brokerages have issued reports on NOC. TD Cowen upgraded Northrop Grumman to a “hold” rating in a research report on Tuesday, October 8th. Susquehanna reduced their price objective on shares of Northrop Grumman from $625.00 to $557.00 and set a “positive” rating on the stock in a research note on Wednesday, January 8th. Truist Financial began coverage on shares of Northrop Grumman in a report on Tuesday. They set a “buy” rating and a $544.00 target price on the stock. JPMorgan Chase & Co. boosted their target price on Northrop Grumman from $500.00 to $560.00 and gave the company a “neutral” rating in a research note on Monday, October 14th. Finally, Citigroup raised their price objective on Northrop Grumman from $521.00 to $587.00 and gave the company a “neutral” rating in a research report on Thursday, October 10th. Nine research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, Northrop Grumman presently has a consensus rating of “Hold” and a consensus price target of $550.94.

Northrop Grumman Trading Up 0.3 %

NOC opened at $482.49 on Friday. The firm has a market capitalization of $70.30 billion, a price-to-earnings ratio of 29.89, a PEG ratio of 0.87 and a beta of 0.35. 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 Co. has a fifty-two week low of $418.60 and a fifty-two week 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 released its earnings results on Thursday, October 24th. The aerospace company reported $7.00 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.07 by $0.93. Northrop Grumman had a net margin of 5.79% and a return on equity of 26.57%. The business had revenue of $10 billion for the quarter, compared to analyst estimates of $10.18 billion. During the same quarter in the previous year, the business earned $6.18 earnings per share. Northrop Grumman’s revenue for the quarter was up 2.3% on a year-over-year basis. As a group, research analysts predict that Northrop Grumman Co. will post 25.93 earnings per share for the current year.

Northrop Grumman declared that its Board of Directors has initiated a stock buyback plan on Wednesday, December 11th that authorizes the company to buyback $3.00 billion in outstanding shares. This buyback authorization authorizes the aerospace company to reacquire up to 4.3% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s leadership believes its shares are undervalued.

Northrop Grumman Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, December 18th. Shareholders of record on Monday, December 2nd were paid a $2.06 dividend. This represents a $8.24 annualized dividend and a 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%.

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.