Franklin Resources Inc. Boosts Stake in Northrop Grumman Co. (NYSE:NOC)

Franklin Resources Inc. raised its position in shares of Northrop Grumman Co. (NYSE:NOC) by 6.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,426,270 shares of the aerospace company’s stock after acquiring an additional 141,816 shares during the period. Franklin Resources Inc.’s holdings in Northrop Grumman were worth $1,315,729,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Fisher Asset Management LLC lifted its stake in shares of Northrop Grumman by 2.6% during the third quarter. Fisher Asset Management LLC now owns 212,514 shares of the aerospace company’s stock worth $112,222,000 after purchasing an additional 5,334 shares in the last quarter. AIA Group Ltd lifted its stake in shares of Northrop Grumman by 20.0% during the third quarter. AIA Group Ltd now owns 7,458 shares of the aerospace company’s stock worth $3,938,000 after purchasing an additional 1,242 shares in the last quarter. Aviso Wealth Management lifted its stake in shares of Northrop Grumman by 110.7% during the second quarter. Aviso Wealth Management now owns 1,896 shares of the aerospace company’s stock worth $827,000 after purchasing an additional 996 shares in the last quarter. Susquehanna International Securities Ltd. acquired a new position in shares of Northrop Grumman during the second quarter worth about $1,133,000. Finally, Meridian Wealth Management LLC acquired a new position in shares of Northrop Grumman during the third quarter worth about $4,089,000. Institutional investors and hedge funds own 83.40% of the company’s stock.

Insider Activity

In other news, VP Benjamin R. Davies sold 1,156 shares of the company’s stock in a transaction that occurred 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. This represents a 68.28 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Over the last ninety days, insiders sold 1,255 shares of company stock valued at $666,461. 0.22% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the company. TD Cowen upgraded Northrop Grumman to a “hold” rating in a research note on Tuesday, October 8th. Alembic Global Advisors cut Northrop Grumman from an “overweight” rating to a “neutral” rating and set a $560.00 price objective on the stock. in a research note on Tuesday, August 27th. Susquehanna boosted their price target on Northrop Grumman from $560.00 to $625.00 and gave the stock a “positive” rating in a research note on Friday, October 25th. Royal Bank of Canada boosted their price target on Northrop Grumman from $500.00 to $540.00 and gave the stock a “sector perform” rating in a research note on Friday, October 25th. Finally, Citigroup boosted their price target on Northrop Grumman from $521.00 to $587.00 and gave the stock a “neutral” rating in a research note on Thursday, October 10th. One analyst has rated the stock with a sell rating, ten have issued a hold rating, five have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $546.81.

Northrop Grumman Trading Up 1.2 %

Shares of NYSE NOC opened at $481.51 on Friday. The stock’s 50 day moving average price is $507.90 and its two-hundred day moving average price is $487.88. Northrop Grumman Co. has a 52-week low of $418.60 and a 52-week high of $555.57. The stock has a market capitalization of $70.16 billion, a P/E ratio of 29.83, a PEG ratio of 0.96 and a beta of 0.33. The company has a quick ratio of 0.97, a current ratio of 1.09 and a debt-to-equity ratio of 1.00.

Northrop Grumman (NYSE:NOC) last announced its quarterly earnings data 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 return on equity of 26.57% and a net margin of 5.79%. The firm had revenue of $10 billion for the quarter, compared to analysts’ expectations of $10.18 billion. During the same quarter in the prior year, the firm posted $6.18 earnings per share. Northrop Grumman’s revenue for the quarter was up 2.3% compared to the same quarter last year. On average, analysts anticipate that Northrop Grumman Co. will post 25.93 earnings per share for the current fiscal year.

Northrop Grumman declared that its Board of Directors has initiated a share repurchase program on Wednesday, December 11th that allows the company to repurchase $3.00 billion in shares. This repurchase authorization allows the aerospace company to repurchase up to 4.3% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.

Northrop Grumman Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 18th. Stockholders of record on Monday, December 2nd will be issued a dividend of $2.06 per share. This represents a $8.24 annualized dividend and a dividend yield of 1.71%. The ex-dividend date of this dividend is Monday, December 2nd. Northrop Grumman’s dividend payout ratio (DPR) is presently 51.05%.

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.