Bayesian Capital Management LP Purchases New Shares in Northrop Grumman Co. (NYSE:NOC)

Bayesian Capital Management LP acquired a new position in shares of Northrop Grumman Co. (NYSE:NOC - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 1,800 shares of the aerospace company's stock, valued at approximately $845,000.

A number of other hedge funds have also bought and sold shares of the company. Sapient Capital LLC grew its holdings in Northrop Grumman by 1.1% during the 4th quarter. Sapient Capital LLC now owns 2,049 shares of the aerospace company's stock valued at $962,000 after purchasing an additional 22 shares during the last quarter. Bank Pictet & Cie Europe AG boosted its position in shares of Northrop Grumman by 2.2% during the fourth quarter. Bank Pictet & Cie Europe AG now owns 1,006 shares of the aerospace company's stock valued at $472,000 after buying an additional 22 shares during the period. Mather Group LLC. grew its stake in shares of Northrop Grumman by 2.6% during the fourth quarter. Mather Group LLC. now owns 900 shares of the aerospace company's stock valued at $422,000 after buying an additional 23 shares during the last quarter. Jacobi Capital Management LLC raised its holdings in shares of Northrop Grumman by 1.2% in the fourth quarter. Jacobi Capital Management LLC now owns 1,987 shares of the aerospace company's stock worth $933,000 after buying an additional 23 shares during the period. Finally, Baron Silver Stevens Financial Advisors LLC lifted its stake in shares of Northrop Grumman by 5.9% during the 4th quarter. Baron Silver Stevens Financial Advisors LLC now owns 432 shares of the aerospace company's stock worth $203,000 after acquiring an additional 24 shares during the last quarter. Institutional investors own 83.40% of the company's stock.

Northrop Grumman Trading Up 0.4 %

NYSE NOC opened at $493.23 on Tuesday. Northrop Grumman Co. has a 52 week low of $418.60 and a 52 week high of $555.57. The company has a 50 day moving average price of $496.42 and a 200 day moving average price of $487.90. The company has a quick ratio of 0.91, a current ratio of 1.01 and a debt-to-equity ratio of 0.96. The firm has a market cap of $70.99 billion, a PE ratio of 17.40, a price-to-earnings-growth ratio of 3.73 and a beta of 0.20.

Northrop Grumman (NYSE:NOC - Get Free Report) last issued its quarterly earnings results on Tuesday, April 22nd. The aerospace company reported $6.06 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $6.33 by ($0.27). The business had revenue of $9.47 billion for the quarter, compared to analyst estimates of $10.07 billion. Northrop Grumman had a return on equity of 26.24% and a net margin of 10.17%. As a group, sell-side analysts forecast that Northrop Grumman Co. will post 28.05 EPS for the current fiscal year.

Northrop Grumman Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 19th. Stockholders of record on Monday, March 3rd were paid a dividend of $2.06 per share. The ex-dividend date was Monday, March 3rd. This represents a $8.24 dividend on an annualized basis and a dividend yield of 1.67%. Northrop Grumman's payout ratio is 32.52%.

Insider Activity

In other news, CEO Kathy J. Warden sold 3,750 shares of the firm's stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $475.65, for a total value of $1,783,687.50. Following the completion of the transaction, the chief executive officer now directly owns 212,852 shares in the company, valued at $101,243,053.80. This trade represents a 1.73 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP Benjamin R. Davies sold 464 shares of the company's stock in a transaction that occurred on Friday, February 28th. The shares were sold at an average price of $460.75, for a total value of $213,788.00. Following the completion of the sale, the vice president now owns 245 shares in the company, valued at approximately $112,883.75. This represents a 65.44 % 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 worth $2,127,182 over the last 90 days. 0.23% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

NOC has been the topic of a number of recent analyst reports. Morgan Stanley increased their target price on Northrop Grumman from $580.00 to $625.00 and gave the stock an "overweight" rating in a research note on Wednesday, April 16th. Royal Bank of Canada reduced their price target on shares of Northrop Grumman from $575.00 to $550.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 23rd. Barclays dropped their target price on shares of 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. Argus raised shares of Northrop Grumman to a "strong-buy" rating in a research note on Wednesday, February 26th. Finally, Truist Financial dropped their price objective on Northrop Grumman from $600.00 to $550.00 and set a "buy" rating on the stock in a research note on Wednesday, April 23rd. Nine equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $545.31.

Northrop Grumman 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.

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