Mount Yale Investment Advisors LLC Boosts Stock Position in Northrop Grumman Co. (NYSE:NOC)

Mount Yale Investment Advisors LLC boosted its position in Northrop Grumman Co. (NYSE:NOC) by 1,284.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 7,351 shares of the aerospace company’s stock after buying an additional 6,820 shares during the period. Mount Yale Investment Advisors LLC’s holdings in Northrop Grumman were worth $3,450,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently bought and sold shares of the business. RPg Family Wealth Advisory LLC purchased a new stake in Northrop Grumman in the 3rd quarter worth $31,000. Albion Financial Group UT acquired a new stake in shares of Northrop Grumman during the fourth quarter valued at about $33,000. FSA Wealth Management LLC purchased a new position in shares of Northrop Grumman during the third quarter worth $36,000. Modus Advisors LLC acquired a new stake in shares of Northrop Grumman during the fourth quarter worth about $38,000. Finally, Catalyst Capital Advisors LLC purchased a new position in Northrop Grumman in the 3rd quarter valued at approximately $40,000. 83.40% of the stock is owned by hedge funds and other institutional investors.

Northrop Grumman Stock Performance

Shares of NOC opened at $497.13 on Monday. 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 stock has a market capitalization 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 firm’s 50 day moving average is $478.66 and its 200-day moving average is $496.86. Northrop Grumman Co. has a 12-month low of $418.60 and a 12-month high of $555.57.

Northrop Grumman (NYSE:NOC) last posted its quarterly earnings results on Thursday, October 24th. The aerospace company reported $7.00 earnings per share 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 firm had revenue of $10 billion for the quarter, compared to analyst estimates of $10.18 billion. During the same period in the previous year, the firm earned $6.18 earnings per share. Northrop Grumman’s quarterly revenue was up 2.3% on a year-over-year basis. Equities research analysts anticipate that Northrop Grumman Co. will post 25.96 EPS for the current fiscal year.

Northrop Grumman announced that its board has initiated a stock repurchase program on Wednesday, December 11th that authorizes the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization authorizes the aerospace company to purchase up to 4.3% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.

Northrop Grumman Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, December 18th. Stockholders of record on Monday, December 2nd were paid a dividend of $2.06 per share. This represents a $8.24 dividend on an annualized basis and a dividend yield of 1.66%. The ex-dividend date of this dividend was Monday, December 2nd. Northrop Grumman’s dividend payout ratio (DPR) is presently 51.05%.

Insider Buying and Selling at Northrop Grumman

In related news, VP Benjamin R. Davies sold 1,156 shares of Northrop Grumman 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 transaction, the vice president now owns 537 shares in the company, valued at $286,183.41. This trade represents a 68.28 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders sold 1,255 shares of company stock worth $663,859 over the last ninety days. 0.22% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on NOC shares. Barclays reduced 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 report on Monday, January 6th. Truist Financial started coverage on shares of Northrop Grumman in a research report on Tuesday, January 14th. They set a “buy” rating and a $544.00 target price on the stock. Citigroup raised Northrop Grumman from a “neutral” rating to a “buy” rating and set a $587.00 price objective for the company in a report on Tuesday, January 21st. TD Cowen raised shares of Northrop Grumman to a “hold” rating in a research note on Tuesday, October 8th. Finally, Wells Fargo & Company upgraded Northrop Grumman from an “equal weight” rating to an “overweight” rating and set a $595.00 price objective on the stock in a report on Wednesday, January 8th. Eight investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $550.94.

Northrop Grumman 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.