Yacktman Asset Management LP Sells 52,577 Shares of Northrop Grumman Corporation (NYSE:NOC)

Yacktman Asset Management LP reduced its holdings in shares of Northrop Grumman Corporation (NYSE:NOC - Free Report) by 18.3% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 234,193 shares of the aerospace company's stock after selling 52,577 shares during the quarter. Northrop Grumman accounts for 1.6% of Yacktman Asset Management LP's portfolio, making the stock its 25th biggest holding. Yacktman Asset Management LP owned about 0.16% of Northrop Grumman worth $119,909,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of NOC. Wood Tarver Financial Group LLC bought a new position in shares of Northrop Grumman during the fourth quarter valued at $32,000. Bellwether Advisors LLC bought a new position in shares of Northrop Grumman during the fourth quarter valued at $33,000. Rakuten Securities Inc. lifted its holdings in shares of Northrop Grumman by 291.7% during the fourth quarter. Rakuten Securities Inc. now owns 94 shares of the aerospace company's stock valued at $44,000 after purchasing an additional 70 shares in the last quarter. HWG Holdings LP bought a new position in Northrop Grumman in the first quarter valued at about $46,000. Finally, VSM Wealth Advisory LLC bought a new position in Northrop Grumman in the fourth quarter valued at about $47,000. 83.40% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on NOC. UBS Group lowered their target price on Northrop Grumman from $583.00 to $571.00 and set a "buy" rating on the stock in a report on Wednesday, April 23rd. Deutsche Bank Aktiengesellschaft reissued a "hold" rating and issued a $542.00 target price (down previously from $580.00) on shares of Northrop Grumman in a report on Tuesday. Susquehanna lowered their target price on Northrop Grumman from $557.00 to $540.00 and set a "positive" rating on the stock in a report on Wednesday, April 23rd. Truist Financial lowered their target price on Northrop Grumman from $600.00 to $550.00 and set a "buy" rating on the stock in a report on Wednesday, April 23rd. Finally, Morgan Stanley upped their price target on Northrop Grumman from $580.00 to $625.00 and gave the stock an "overweight" rating in a research report on Wednesday, April 16th. Eight equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $550.00.

Insider Transactions at Northrop Grumman

In other Northrop Grumman news, VP Thomas H. Jones sold 729 shares of the firm's stock in a transaction that occurred on Friday, June 13th. The stock was sold at an average price of $505.77, for a total transaction of $368,706.33. Following the completion of the transaction, the vice president owned 7,552 shares in the company, valued at $3,819,575.04. This trade represents a 8.80% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, VP Roshan S. Roeder sold 991 shares of the firm's stock in a transaction that occurred on Wednesday, June 4th. The shares were sold at an average price of $490.00, for a total value of $485,590.00. Following the transaction, the vice president owned 319 shares of the company's stock, valued at $156,310. This represents a 75.65% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 16,569 shares of company stock worth $8,323,150. 0.23% of the stock is owned by corporate insiders.

Northrop Grumman Price Performance

Shares of NYSE:NOC traded up $6.41 during trading on Thursday, hitting $514.35. 623,936 shares of the company's stock were exchanged, compared to its average volume of 879,058. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.95 and a quick ratio of 0.84. Northrop Grumman Corporation has a 52-week low of $424.66 and a 52-week high of $555.57. The business's 50-day simple moving average is $488.87 and its 200 day simple moving average is $485.25. The company has a market cap of $74.03 billion, a price-to-earnings ratio of 20.30, a PEG ratio of 5.55 and a beta of 0.15.

Northrop Grumman (NYSE:NOC - Get Free Report) last released its quarterly earnings results on Tuesday, April 22nd. The aerospace company reported $6.06 earnings per share for the quarter, missing the consensus estimate of $6.33 by ($0.27). The firm had revenue of $9.47 billion for the quarter, compared to analysts' expectations of $10.07 billion. Northrop Grumman had a net margin of 9.19% and a return on equity of 25.46%. As a group, equities analysts predict that Northrop Grumman Corporation will post 28.05 EPS for the current year.

Northrop Grumman Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, June 18th. Shareholders of record on Monday, June 2nd were issued a dividend of $2.31 per share. This represents a $9.24 annualized dividend and a yield of 1.80%. The ex-dividend date was Monday, June 2nd. This is a boost from Northrop Grumman's previous quarterly dividend of $2.06. Northrop Grumman's dividend payout ratio (DPR) is currently 36.46%.

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.