T. Rowe Price Investment Management Inc. Reduces Stock Holdings in Northrop Grumman Co. (NYSE:NOC)

T. Rowe Price Investment Management Inc. lessened its stake in shares of Northrop Grumman Co. (NYSE:NOC - Free Report) by 87.5% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 65,644 shares of the aerospace company's stock after selling 457,927 shares during the period. T. Rowe Price Investment Management Inc.'s holdings in Northrop Grumman were worth $30,807,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently added to or reduced their stakes in the business. Whipplewood Advisors LLC acquired a new stake in shares of Northrop Grumman in the 4th quarter valued at $31,000. Albion Financial Group UT acquired a new stake in shares of Northrop Grumman in the 4th quarter worth $33,000. Modus Advisors LLC acquired a new stake in Northrop Grumman in the fourth quarter valued at $38,000. Stonebridge Financial Group LLC purchased a new stake in shares of Northrop Grumman during the 4th quarter worth approximately $42,000. Finally, Rakuten Securities Inc. increased its position in shares of Northrop Grumman by 291.7% in the fourth quarter. Rakuten Securities Inc. now owns 94 shares of the aerospace company's stock valued at $44,000 after buying an additional 70 shares in the last quarter. 83.40% of the stock is currently owned by hedge funds and other institutional investors.

Northrop Grumman Price Performance

Shares of Northrop Grumman stock traded up $1.15 on Friday, hitting $487.82. 911,355 shares of the company traded hands, compared to its average volume of 891,944. The firm's 50-day simple moving average is $495.03 and its 200 day simple moving average is $488.98. The company has a market cap of $70.21 billion, a P/E ratio of 17.20, a P/E/G ratio of 3.73 and a beta of 0.20. Northrop Grumman Co. has a 12-month low of $418.60 and a 12-month high of $555.57. The company has a current ratio of 1.01, a quick ratio of 0.91 and a debt-to-equity ratio of 0.96.

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). Northrop Grumman had a net margin of 10.17% and a return on equity of 26.24%. The firm had revenue of $9.47 billion for the quarter, compared to the consensus estimate of $10.07 billion. Analysts expect that Northrop Grumman Co. will post 28.05 earnings per share for the current fiscal year.

Northrop Grumman Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 19th. Shareholders of record on Monday, March 3rd were given a $2.06 dividend. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $8.24 annualized dividend and a yield of 1.69%. Northrop Grumman's payout ratio is 32.52%.

Insiders Place Their Bets

In other news, VP Benjamin R. Davies sold 464 shares of the business's stock in a transaction on Friday, February 28th. The shares were sold at an average price of $460.75, for a total transaction of $213,788.00. Following the completion of the sale, the vice president now directly owns 245 shares of the company's stock, valued at approximately $112,883.75. The trade was a 65.44 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Kathy J. Warden sold 3,750 shares of the stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $475.65, for a total transaction of $1,783,687.50. Following the sale, the chief executive officer now directly owns 212,852 shares of the company's stock, valued at approximately $101,243,053.80. The trade was a 1.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 4,505 shares of company stock worth $2,127,182. Company insiders own 0.23% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. The Goldman Sachs Group raised shares of Northrop Grumman from a "sell" rating to a "neutral" rating and lifted their target price for the stock from $424.00 to $521.00 in a research note on Friday, April 11th. Argus upgraded Northrop Grumman to a "strong-buy" rating in a report on Wednesday, February 26th. Morgan Stanley upped their price target on Northrop Grumman from $580.00 to $625.00 and gave the company an "overweight" rating in a research report on Wednesday, April 16th. Wells Fargo & Company set a $525.00 target price on Northrop Grumman and gave the company an "overweight" rating in a research note on Thursday, April 24th. Finally, Susquehanna reduced their price objective on shares of Northrop Grumman from $557.00 to $540.00 and set a "positive" rating for the company in a report on Wednesday, April 23rd. Nine equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Northrop Grumman currently has an average rating of "Moderate Buy" and a consensus price target of $545.31.

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.