Yacktman Asset Management LP Decreases Holdings in Northrop Grumman Co. (NYSE:NOC)

Yacktman Asset Management LP lowered its holdings in Northrop Grumman Co. (NYSE:NOC) by 0.6% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 405,617 shares of the aerospace company’s stock after selling 2,331 shares during the quarter. Northrop Grumman comprises 1.8% of Yacktman Asset Management LP’s investment portfolio, making the stock its 22nd biggest holding. Yacktman Asset Management LP owned about 0.27% of Northrop Grumman worth $189,886,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in NOC. Annis Gardner Whiting Capital Advisors LLC acquired a new stake in Northrop Grumman during the third quarter worth approximately $29,000. Providence Capital Advisors LLC grew its stake in Northrop Grumman by 400.0% during the 3rd quarter. Providence Capital Advisors LLC now owns 100 shares of the aerospace company’s stock worth $44,000 after buying an additional 80 shares during the last quarter. Mizuho Securities Co. Ltd. acquired a new position in Northrop Grumman during the third quarter worth approximately $70,000. Rational Advisors LLC purchased a new stake in Northrop Grumman in the third quarter valued at approximately $72,000. Finally, Venturi Wealth Management LLC boosted its holdings in shares of Northrop Grumman by 16.2% in the third quarter. Venturi Wealth Management LLC now owns 165 shares of the aerospace company’s stock valued at $73,000 after acquiring an additional 23 shares during the period. Institutional investors and hedge funds own 83.40% of the company’s stock.

Insiders Place Their Bets

In other news, VP Kathryn G. Simpson sold 711 shares of the stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $453.22, for a total transaction of $322,239.42. Following the transaction, the vice president now directly owns 2,024 shares in the company, valued at approximately $917,317.28. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, VP Kathryn G. Simpson sold 711 shares of the company’s stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $453.22, for a total transaction of $322,239.42. Following the completion of the sale, the vice president now directly owns 2,024 shares in the company, valued at approximately $917,317.28. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Michael A. Hardesty sold 210 shares of Northrop Grumman stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $454.68, for a total value of $95,482.80. Following the completion of the transaction, the chief accounting officer now owns 3,127 shares in the company, valued at approximately $1,421,784.36. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 3,149 shares of company stock valued at $1,421,147. Insiders own 0.22% of the company’s stock.

Northrop Grumman Price Performance

Northrop Grumman stock traded down $5.28 during midday trading on Friday, reaching $482.78. 737,579 shares of the company were exchanged, compared to its average volume of 998,651. The company has a market capitalization of $71.55 billion, a price-to-earnings ratio of 35.72, a P/E/G ratio of 1.91 and a beta of 0.35. Northrop Grumman Co. has a 1 year low of $414.56 and a 1 year high of $496.89. The company has a debt-to-equity ratio of 0.93, a quick ratio of 1.05 and a current ratio of 1.15. The firm’s 50-day simple moving average is $462.00 and its 200-day simple moving average is $465.71.

Northrop Grumman (NYSE:NOC) last announced its earnings results on Thursday, April 25th. The aerospace company reported $6.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.83 by $0.49. The firm had revenue of $10.13 billion for the quarter, compared to analyst estimates of $9.77 billion. Northrop Grumman had a net margin of 5.23% and a return on equity of 23.07%. Northrop Grumman’s revenue was up 8.9% compared to the same quarter last year. During the same quarter last year, the business earned $5.50 earnings per share. On average, analysts anticipate that Northrop Grumman Co. will post 24.67 EPS for the current year.

Northrop Grumman Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 13th. Investors of record on Monday, February 26th were given a dividend of $1.87 per share. The ex-dividend date was Friday, February 23rd. This represents a $7.48 annualized dividend and a yield of 1.55%. Northrop Grumman’s dividend payout ratio (DPR) is presently 55.49%.

Analyst Ratings Changes

NOC has been the topic of a number of recent research reports. Alembic Global Advisors raised shares of Northrop Grumman from a “neutral” rating to an “overweight” rating and set a $532.00 target price on the stock in a report on Monday. StockNews.com downgraded shares of Northrop Grumman from a “buy” rating to a “hold” rating in a research note on Monday, January 29th. TheStreet cut Northrop Grumman from a “b+” rating to a “c+” rating in a research report on Thursday, January 25th. Susquehanna boosted their target price on Northrop Grumman from $540.00 to $560.00 and gave the company a “positive” rating in a report on Friday. Finally, Royal Bank of Canada lifted their price objective on shares of Northrop Grumman from $450.00 to $475.00 and gave the company a “sector perform” rating in a research report on Friday. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, Northrop Grumman currently has an average rating of “Hold” and an average price target of $503.00.

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.