Korea Investment CORP Grows Stake in Northrop Grumman Co. (NYSE:NOC)

Korea Investment CORP grew its position in Northrop Grumman Co. (NYSE:NOC) by 32.1% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 129,960 shares of the aerospace company’s stock after buying an additional 31,607 shares during the quarter. Korea Investment CORP’s holdings in Northrop Grumman were worth $60,989,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. RPg Family Wealth Advisory LLC bought a new position in shares of Northrop Grumman during the third quarter valued at approximately $31,000. Whipplewood Advisors LLC purchased a new stake in Northrop Grumman during the fourth quarter worth $31,000. Albion Financial Group UT bought a new stake in Northrop Grumman during the 4th quarter valued at $33,000. FSA Wealth Management LLC purchased a new position in shares of Northrop Grumman in the 3rd quarter valued at $36,000. Finally, Modus Advisors LLC bought a new position in shares of Northrop Grumman in the 4th quarter worth $38,000. Institutional investors own 83.40% of the company’s stock.

Northrop Grumman Stock Performance

NOC opened at $513.95 on Friday. The firm has a 50 day moving average of $477.61 and a two-hundred day moving average of $493.12. The firm has a market capitalization of $74.40 billion, a PE ratio of 18.14, a P/E/G ratio of 3.73 and a beta of 0.31. The company has a current ratio of 1.01, a quick ratio of 0.91 and a debt-to-equity ratio of 0.96. Northrop Grumman Co. has a 12-month low of $418.60 and a 12-month high of $555.57.

Northrop Grumman (NYSE:NOC) last issued its earnings results on Thursday, January 30th. The aerospace company reported $6.39 earnings per share (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, analysts anticipate that Northrop Grumman Co. will post 28.05 EPS for the current year.

Northrop Grumman announced that its board has approved a share buyback plan on Wednesday, December 11th that allows the company to buyback $3.00 billion in outstanding shares. This buyback authorization allows the aerospace company to purchase up to 4.3% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s leadership believes its shares are undervalued.

Northrop Grumman Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 19th. Stockholders of record on Monday, March 3rd were paid a $2.06 dividend. The ex-dividend date was Monday, March 3rd. This represents a $8.24 dividend on an annualized basis and a dividend yield of 1.60%. Northrop Grumman’s payout ratio is 29.08%.

Insider Buying and Selling

In related news, VP Benjamin R. Davies sold 192 shares of the stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $429.08, for a total transaction of $82,383.36. Following the sale, the vice president now directly owns 709 shares of the company’s stock, valued at approximately $304,217.72. This represents a 21.31 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Kathy J. Warden sold 3,750 shares of the firm’s stock in a transaction on Thursday, March 6th. The shares were sold at an average price of $475.65, for a total transaction of $1,783,687.50. Following the sale, the chief executive officer now owns 212,852 shares in the company, valued at approximately $101,243,053.80. This represents a 1.73 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 4,505 shares of company stock valued at $2,126,405 over the last ninety days. Company insiders own 0.22% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the company. StockNews.com lowered Northrop Grumman from a “strong-buy” rating to a “buy” rating in a research note on Monday, February 3rd. Wolfe Research raised shares of Northrop Grumman from an “underperform” rating to a “peer perform” rating in a research report on Monday, February 3rd. Wells Fargo & Company upped their price target on Northrop Grumman from $545.00 to $547.00 and gave the stock an “overweight” rating in a research report on Friday, March 7th. 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 note on Monday, January 6th. Finally, Susquehanna decreased their price target 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. Eight investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Northrop Grumman currently has a consensus rating of “Moderate Buy” and an average price target of $545.06.

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.