Northrop Grumman Co. (NYSE:NOC) Shares Purchased by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. raised its holdings in Northrop Grumman Co. (NYSE:NOC) by 95.3% during the fourth quarter, Holdings Channel reports. The institutional investor owned 16,301 shares of the aerospace company’s stock after buying an additional 7,953 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Northrop Grumman were worth $7,681,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. RPg Family Wealth Advisory LLC purchased a new stake in Northrop Grumman during the third quarter worth approximately $31,000. FSA Wealth Management LLC purchased a new stake in shares of Northrop Grumman during the 3rd quarter worth approximately $36,000. Albion Financial Group UT acquired a new position in shares of Northrop Grumman in the 4th quarter valued at $33,000. Catalyst Capital Advisors LLC purchased a new position in shares of Northrop Grumman in the 3rd quarter valued at $40,000. Finally, Modus Advisors LLC acquired a new stake in Northrop Grumman during the 4th quarter worth $38,000. 83.40% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions 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 stock was 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 of the company’s stock, valued at approximately $286,183.41. The trade was a 68.28 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders have sold 1,255 shares of company stock valued at $662,868 in the last quarter. 0.22% of the stock is currently owned by corporate insiders.

Northrop Grumman Stock Up 0.5 %

NOC opened at $468.75 on Friday. The business has a 50 day simple moving average of $477.33 and a 200-day simple moving average of $498.99. Northrop Grumman Co. has a 12 month low of $418.60 and a 12 month high of $555.57. The stock has a market capitalization of $67.86 billion, a P/E ratio of 16.54, a P/E/G ratio of 0.91 and a beta of 0.35. The company has a debt-to-equity ratio of 0.96, a current ratio of 1.01 and a quick ratio of 0.91.

Northrop Grumman (NYSE:NOC) last issued its earnings results on Thursday, January 30th. The aerospace company reported $6.39 EPS for the quarter, topping the consensus estimate of $6.27 by $0.12. Northrop Grumman had a net margin of 10.17% and a return on equity of 26.24%. On average, equities analysts anticipate that Northrop Grumman Co. will post 28.04 earnings per share for the current fiscal year.

Northrop Grumman declared that its board has initiated a stock 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 reacquire up to 4.3% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s leadership believes its stock is undervalued.

Northrop Grumman Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, December 18th. Stockholders of record on Monday, December 2nd were given a dividend of $2.06 per share. The ex-dividend date of this dividend was Monday, December 2nd. This represents a $8.24 dividend on an annualized basis and a dividend yield of 1.76%. Northrop Grumman’s payout ratio is 29.08%.

Analysts Set New Price Targets

NOC has been the subject of several research analyst reports. StockNews.com downgraded shares of Northrop Grumman from a “strong-buy” rating to a “buy” rating in a research note on Monday, February 3rd. JPMorgan Chase & Co. upped their target price on Northrop Grumman from $500.00 to $560.00 and gave the company a “neutral” rating in a research report on Monday, October 14th. Susquehanna cut their price target on Northrop Grumman from $625.00 to $557.00 and set a “positive” rating on the stock in a research report on Wednesday, January 8th. Barclays decreased 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. Finally, Citigroup raised shares of Northrop Grumman from a “neutral” rating to a “buy” rating and set a $587.00 target price on the stock in a report on Tuesday, January 21st. Nine research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $544.31.

Northrop Grumman Company 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.