Parisi Gray Wealth Management Has $542,000 Stake in Northrop Grumman Co. (NYSE:NOC)

Parisi Gray Wealth Management raised its position in Northrop Grumman Co. (NYSE:NOC) by 9.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,156 shares of the aerospace company’s stock after acquiring an additional 95 shares during the quarter. Parisi Gray Wealth Management’s holdings in Northrop Grumman were worth $542,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Miracle Mile Advisors LLC bought a new position in Northrop Grumman in the 4th quarter valued at about $266,000. Bar Harbor Wealth Management acquired a new position in shares of Northrop Grumman in the fourth quarter valued at approximately $208,000. Cooper Financial Group increased its stake in shares of Northrop Grumman by 5.5% during the fourth quarter. Cooper Financial Group now owns 1,906 shares of the aerospace company’s stock worth $894,000 after purchasing an additional 99 shares during the period. Wedmont Private Capital lifted its holdings in Northrop Grumman by 16.9% during the 4th quarter. Wedmont Private Capital now owns 1,243 shares of the aerospace company’s stock worth $570,000 after purchasing an additional 180 shares during the last quarter. Finally, Talbot Financial LLC boosted its stake in Northrop Grumman by 2.8% in the 4th quarter. Talbot Financial LLC now owns 25,696 shares of the aerospace company’s stock valued at $12,059,000 after purchasing an additional 707 shares during the period. Institutional investors own 83.40% of the company’s stock.

Insider Activity

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 transaction of $616,067.08. Following the transaction, the vice president now owns 537 shares in the company, valued at $286,183.41. The trade was a 68.28 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Over the last quarter, insiders sold 1,255 shares of company stock valued at $663,859. Company insiders own 0.22% of the company’s stock.

Wall Street Analyst Weigh In

NOC has been the subject of a number of research reports. Citigroup lifted their target price on Northrop Grumman from $521.00 to $587.00 and gave the stock a “neutral” rating in a report on Thursday, October 10th. Royal Bank of Canada boosted their price objective on shares of Northrop Grumman from $500.00 to $540.00 and gave the company a “sector perform” rating in a report on Friday, October 25th. Wells Fargo & Company raised Northrop Grumman from an “equal weight” rating to an “overweight” rating and set a $595.00 price target on the stock in a research report on Wednesday, January 8th. JPMorgan Chase & Co. lifted their price objective on Northrop Grumman from $500.00 to $560.00 and gave the company a “neutral” rating in a report on Monday, October 14th. Finally, Barclays cut their target price on Northrop Grumman from $550.00 to $500.00 and set an “equal weight” rating for the company in a research report on Monday, January 6th. Nine research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, Northrop Grumman has a consensus rating of “Hold” and a consensus target price of $551.40.

Northrop Grumman Price Performance

Shares of NYSE NOC traded up $14.40 during mid-day trading on Monday, hitting $473.09. 964,414 shares of the stock traded hands, compared to its average volume of 790,472. Northrop Grumman Co. has a twelve month low of $418.60 and a twelve month high of $555.57. The firm has a 50 day simple moving average of $484.74 and a two-hundred day simple moving average of $493.07. The company has a debt-to-equity ratio of 1.00, a current ratio of 1.09 and a quick ratio of 0.97. The company has a market cap of $68.93 billion, a PE ratio of 29.31, a price-to-earnings-growth ratio of 0.97 and a beta of 0.35.

Northrop Grumman (NYSE:NOC) last released its quarterly earnings data on Thursday, October 24th. The aerospace company reported $7.00 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.07 by $0.93. Northrop Grumman had a return on equity of 26.57% and a net margin of 5.79%. The company had revenue of $10 billion during the quarter, compared to the consensus estimate of $10.18 billion. During the same quarter in the prior year, the firm posted $6.18 earnings per share. The firm’s revenue was up 2.3% compared to the same quarter last year. As a group, equities research analysts forecast that Northrop Grumman Co. will post 25.93 EPS for the current fiscal year.

Northrop Grumman announced that its Board of Directors has approved a stock buyback plan on Wednesday, December 11th that permits the company to repurchase $3.00 billion in shares. This repurchase authorization permits the aerospace company to repurchase up to 4.3% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board of directors believes its stock is undervalued.

Northrop Grumman Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, December 18th. Shareholders of record on Monday, December 2nd were given a $2.06 dividend. The ex-dividend date of this dividend was Monday, December 2nd. This represents a $8.24 dividend on an annualized basis and a dividend yield of 1.74%. Northrop Grumman’s dividend payout ratio (DPR) is presently 51.05%.

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.