Baring Financial LLC Acquires Shares of 612 Northrop Grumman Co. (NYSE:NOC)

Baring Financial LLC acquired a new stake in shares of Northrop Grumman Co. (NYSE:NOC) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 612 shares of the aerospace company’s stock, valued at approximately $287,000.

Other institutional investors have also recently made changes to their positions in the company. Wellington Management Group LLP increased its position in shares of 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 valued at $2,186,681,000 after purchasing an additional 17,596 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of Northrop Grumman by 0.6% during the 3rd quarter. Geode Capital Management LLC now owns 3,003,360 shares of the aerospace company’s stock worth $1,581,644,000 after purchasing an additional 18,791 shares during the period. Franklin Resources Inc. grew its holdings in Northrop Grumman by 6.2% during 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 during the last quarter. Charles Schwab Investment Management Inc. raised its position in Northrop Grumman by 0.4% in 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 period. Finally, Two Sigma Advisers LP lifted its stake 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 worth $388,448,000 after purchasing an additional 372,500 shares during the last quarter. Hedge funds and other institutional investors own 83.40% of the company’s stock.

Analysts Set New Price Targets

NOC has been the subject of a number of recent analyst reports. TD Cowen upgraded Northrop Grumman to a “hold” rating in a report on Tuesday, October 8th. Barclays lowered their target price on shares of Northrop Grumman from $550.00 to $500.00 and set an “equal weight” rating for the company in a research note on Monday, January 6th. Citigroup raised shares of Northrop Grumman from a “neutral” rating to a “buy” rating and set a $587.00 price target on the stock in a research note on Tuesday, January 21st. Susquehanna lowered their price objective on shares of Northrop Grumman from $625.00 to $557.00 and set a “positive” rating for the company in a research report on Wednesday, January 8th. Finally, UBS Group upped their target price on shares of Northrop Grumman from $614.00 to $643.00 and gave the stock a “buy” rating in a research note on Friday, October 25th. Eight research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $550.94.

Northrop Grumman Trading Down 1.0 %

Shares of NYSE:NOC opened at $481.56 on Thursday. The company has a market capitalization of $70.16 billion, a PE ratio of 29.84, a PEG ratio of 0.95 and a beta of 0.35. Northrop Grumman Co. has a 12-month low of $418.60 and a 12-month high of $555.57. The business has a 50 day moving average of $478.87 and a two-hundred day moving average of $497.74. The company has a current ratio of 1.09, a quick ratio of 0.97 and a debt-to-equity ratio of 1.00.

Northrop Grumman Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, December 18th. Investors of record on Monday, December 2nd were issued a dividend of $2.06 per share. This represents a $8.24 dividend on an annualized basis 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 presently 51.05%.

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

Insider Buying and Selling at Northrop Grumman

In related news, VP Benjamin R. Davies sold 1,156 shares of Northrop Grumman stock in a transaction on Monday, November 11th. The shares were sold at an average price of $532.93, for a total value of $616,067.08. Following the sale, the vice president now owns 537 shares of the company’s stock, 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 Securities & Exchange Commission, which can be accessed through the SEC website. Over the last quarter, insiders sold 1,255 shares of company stock valued at $663,859. Corporate insiders own 0.22% of the company’s stock.

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.