YANKCOM Partnership bought a new position in shares of Northrop Grumman Co. (NYSE:NOC - Free Report) during the 4th quarter, according to its most recent 13F filing with the SEC. The fund bought 853 shares of the aerospace company's stock, valued at approximately $400,000.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in NOC. RPg Family Wealth Advisory LLC purchased a new position in Northrop Grumman in the 3rd quarter worth $31,000. Albion Financial Group UT purchased a new position in shares of Northrop Grumman during the 4th quarter valued at about $33,000. FSA Wealth Management LLC acquired a new position in shares of Northrop Grumman in the 3rd quarter valued at about $36,000. Modus Advisors LLC acquired a new stake in Northrop Grumman during the fourth quarter worth about $38,000. Finally, Catalyst Capital Advisors LLC purchased a new position in Northrop Grumman during the third quarter valued at approximately $40,000. 83.40% of the stock is currently owned by hedge funds and other institutional investors.
A number of equities research analysts have recently commented on NOC shares. Citigroup raised shares of Northrop Grumman from a "neutral" rating to a "buy" rating and set a $587.00 price objective on the stock in a research note on Tuesday, January 21st. JPMorgan Chase & Co. lifted their price objective on shares of Northrop Grumman from $500.00 to $560.00 and gave the company a "neutral" rating in a report on Monday, October 14th. Truist Financial initiated coverage on shares of Northrop Grumman in a research note on Tuesday, January 14th. They set a "buy" rating and a $544.00 target price on the stock. Barclays dropped their price target 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. Finally, Wells Fargo & Company decreased their price objective on shares of Northrop Grumman from $595.00 to $574.00 and set an "overweight" rating on the stock in a report on Friday, January 31st. Nine analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $544.31.
Check Out Our Latest Stock Analysis on NOC
In related news, VP Benjamin R. Davies sold 1,156 shares of the business's stock in a transaction on Monday, November 11th. The shares were sold at an average price of $532.93, for a total value of $616,067.08. Following the completion of the sale, the vice president now directly owns 537 shares of the company's stock, valued at $286,183.41. The trade was a 68.28 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders sold 1,222 shares of company stock worth $647,025 over the last 90 days. 0.22% of the stock is owned by insiders.
NYSE NOC opened at $471.17 on Thursday. Northrop Grumman Co. has a twelve month low of $418.60 and a twelve month high of $555.57. The stock has a market cap of $68.21 billion, a PE ratio of 16.63, a P/E/G ratio of 0.91 and a beta of 0.35. The stock has a fifty day simple moving average of $478.14 and a 200-day simple moving average of $499.42. 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 posted its quarterly earnings data on Thursday, January 30th. The aerospace company reported $6.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.27 by $0.12. Northrop Grumman had a return on equity of 26.24% and a net margin of 10.17%. Equities analysts anticipate that Northrop Grumman Co. will post 28.04 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, December 18th. Stockholders of record on Monday, December 2nd were paid a $2.06 dividend. This represents a $8.24 annualized dividend and a dividend yield of 1.75%. The ex-dividend date of this dividend was Monday, December 2nd. Northrop Grumman's payout ratio is presently 29.08%.
Northrop Grumman declared that its board has initiated a share repurchase program on Wednesday, December 11th that permits the company to buyback $3.00 billion in outstanding shares. This buyback authorization permits the aerospace company to buy up to 4.3% of its stock through open market purchases. Stock buyback programs are often a sign that the company's leadership believes its stock is undervalued.
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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