Retirement Systems of Alabama Buys 38,749 Shares of Northrop Grumman Corporation (NYSE:NOC)

Retirement Systems of Alabama grew its holdings in shares of Northrop Grumman Corporation (NYSE:NOC - Free Report) by 41.7% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 131,585 shares of the aerospace company's stock after buying an additional 38,749 shares during the period. Retirement Systems of Alabama owned 0.09% of Northrop Grumman worth $67,373,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Brighton Jones LLC raised its position in shares of Northrop Grumman by 176.3% during the 4th quarter. Brighton Jones LLC now owns 2,970 shares of the aerospace company's stock worth $1,394,000 after buying an additional 1,895 shares in the last quarter. Vontobel Holding Ltd. lifted its holdings in shares of Northrop Grumman by 34.3% in the fourth quarter. Vontobel Holding Ltd. now owns 1,476 shares of the aerospace company's stock valued at $693,000 after buying an additional 377 shares during the period. Bank Pictet & Cie Europe AG grew its holdings in 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 worth $472,000 after acquiring an additional 22 shares during the period. Principal Securities Inc. boosted its position in shares of Northrop Grumman by 96.2% during the 4th quarter. Principal Securities Inc. now owns 2,313 shares of the aerospace company's stock valued at $1,086,000 after purchasing an additional 1,134 shares in the last quarter. Finally, Venturi Wealth Management LLC grew its stake in shares of Northrop Grumman by 41.2% in the 4th quarter. Venturi Wealth Management LLC now owns 476 shares of the aerospace company's stock worth $223,000 after purchasing an additional 139 shares during the last quarter. 83.40% of the stock is owned by institutional investors.

Northrop Grumman Stock Performance

NYSE NOC traded up $3.27 during midday trading on Friday, hitting $497.92. The company had a trading volume of 915,895 shares, compared to its average volume of 884,728. The firm has a fifty day simple moving average of $490.07 and a two-hundred day simple moving average of $482.87. The stock has a market cap of $71.67 billion, a price-to-earnings ratio of 19.65, a P/E/G ratio of 5.40 and a beta of 0.14. The company has a quick ratio of 0.84, a current ratio of 0.95 and a debt-to-equity ratio of 0.95. Northrop Grumman Corporation has a fifty-two week low of $422.69 and a fifty-two week high of $555.57.

Northrop Grumman (NYSE:NOC - Get Free Report) last released its quarterly earnings data 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). Northrop Grumman had a net margin of 9.19% and a return on equity of 25.46%. The firm had revenue of $9.47 billion for the quarter, compared to the consensus estimate of $10.07 billion. Equities analysts forecast that Northrop Grumman Corporation will post 28.05 earnings per share for the current fiscal year.

Northrop Grumman Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 18th. Investors of record on Monday, June 2nd were paid a $2.31 dividend. The ex-dividend date was Monday, June 2nd. This represents a $9.24 dividend on an annualized basis and a yield of 1.86%. This is a boost from Northrop Grumman's previous quarterly dividend of $2.06. Northrop Grumman's payout ratio is presently 36.46%.

Analyst Ratings Changes

Several analysts recently commented on the stock. UBS Group cut their target price on shares of Northrop Grumman from $583.00 to $571.00 and set a "buy" rating for the company in a research note on Wednesday, April 23rd. Argus upgraded Northrop Grumman to a "strong-buy" rating in a research report on Wednesday, February 26th. Royal Bank Of Canada decreased their target price on Northrop Grumman from $575.00 to $550.00 and set an "outperform" rating on the stock in a report on Wednesday, April 23rd. Truist Financial cut their target price on Northrop Grumman from $600.00 to $550.00 and set a "buy" rating on the stock in a research report on Wednesday, April 23rd. Finally, Wells Fargo & Company set a $525.00 price target on Northrop Grumman and gave the company an "overweight" rating in a research report on Thursday, April 24th. Eight investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, Northrop Grumman has a consensus rating of "Moderate Buy" and an average target price of $548.33.

Insider Buying and Selling

In other news, VP Roshan S. Roeder sold 991 shares of the company's stock in a transaction dated Wednesday, June 4th. The shares were sold at an average price of $490.00, for a total value of $485,590.00. Following the sale, the vice president now owns 319 shares of the company's stock, valued at approximately $156,310. This represents a 75.65% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Kathy J. Warden sold 7,500 shares of the business's stock in a transaction dated Friday, June 13th. The shares were sold at an average price of $505.77, for a total transaction of $3,793,275.00. Following the completion of the transaction, the chief executive officer now owns 201,602 shares in the company, valued at approximately $101,964,243.54. This trade represents a 3.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 16,569 shares of company stock valued at $8,322,279 over the last quarter. Corporate insiders own 0.23% of the company's stock.

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.