Avior Wealth Management LLC decreased its stake in Northrop Grumman Co. (NYSE:NOC – Free Report) by 5.4% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 764 shares of the aerospace company’s stock after selling 44 shares during the period. Avior Wealth Management LLC’s holdings in Northrop Grumman were worth $359,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently modified their holdings of the stock. RPg Family Wealth Advisory LLC acquired a new position in Northrop Grumman during the third quarter worth approximately $31,000. Albion Financial Group UT purchased a new stake in Northrop Grumman in the 4th quarter valued at $33,000. FSA Wealth Management LLC acquired a new stake in Northrop Grumman during the 3rd quarter worth $36,000. Modus Advisors LLC purchased a new position in Northrop Grumman during the 4th quarter worth $38,000. Finally, Catalyst Capital Advisors LLC acquired a new position in Northrop Grumman in the third quarter valued at $40,000. 83.40% of the stock is owned by hedge funds and other institutional investors.
Northrop Grumman Trading Down 0.5 %
Shares of NYSE:NOC opened at $497.13 on Monday. The firm has a market cap of $72.43 billion, a P/E ratio of 30.80, a P/E/G ratio of 0.95 and a beta of 0.35. The company has a current ratio of 1.09, a quick ratio of 0.97 and a debt-to-equity ratio of 1.00. Northrop Grumman Co. has a twelve month low of $418.60 and a twelve month high of $555.57. The company has a 50 day moving average of $478.66 and a 200-day moving average of $496.36.
Northrop Grumman Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Wednesday, December 18th. Shareholders of record on Monday, December 2nd were issued a $2.06 dividend. This represents a $8.24 annualized dividend and a dividend yield of 1.66%. The ex-dividend date was Monday, December 2nd. Northrop Grumman’s payout ratio is 51.05%.
Northrop Grumman declared that its Board of Directors has authorized a stock repurchase plan on Wednesday, December 11th that allows the company to buyback $3.00 billion in outstanding shares. This buyback authorization allows the aerospace company to buy up to 4.3% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s board believes its shares are undervalued.
Wall Street Analyst Weigh In
Several research firms have commented on NOC. Royal Bank of Canada upped their price objective on Northrop Grumman from $500.00 to $540.00 and gave the company a “sector perform” rating in a research note on Friday, October 25th. Barclays dropped their price objective 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. StockNews.com raised shares of Northrop Grumman from a “buy” rating to a “strong-buy” rating in a report on Sunday, January 19th. Susquehanna dropped their target price on Northrop Grumman from $625.00 to $557.00 and set a “positive” rating on the stock in a research report on Wednesday, January 8th. Finally, TD Cowen raised Northrop Grumman to a “hold” rating in a report on Tuesday, October 8th. Eight research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $550.94.
Read Our Latest Stock Report on NOC
Insider Transactions at Northrop Grumman
In related news, VP Benjamin R. Davies sold 1,156 shares of the company’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $532.93, for a total transaction of $616,067.08. Following the transaction, the vice president now directly owns 537 shares of the company’s stock, valued at approximately $286,183.41. The trade was a 68.28 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have sold a total of 1,255 shares of company stock valued at $663,859 over the last ninety days. Corporate insiders own 0.22% of the company’s stock.
Northrop Grumman Company 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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