Northrop Grumman Co. (NYSE:NOC) Holdings Trimmed by Wealthspire Advisors LLC

Wealthspire Advisors LLC lowered its holdings in Northrop Grumman Co. (NYSE:NOC) by 2.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,337 shares of the aerospace company’s stock after selling 128 shares during the period. Wealthspire Advisors LLC’s holdings in Northrop Grumman were worth $2,035,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the business. RPg Family Wealth Advisory LLC purchased a new stake in Northrop Grumman in the 3rd quarter worth about $31,000. Albion Financial Group UT acquired a new position in shares of Northrop Grumman in the 4th quarter valued at about $33,000. FSA Wealth Management LLC purchased a new stake in shares of Northrop Grumman in the third quarter worth approximately $36,000. Modus Advisors LLC acquired a new stake in shares of Northrop Grumman during the fourth quarter worth approximately $38,000. Finally, Catalyst Capital Advisors LLC purchased a new position in Northrop Grumman during the third quarter valued at approximately $40,000. Institutional investors and hedge funds own 83.40% of the company’s stock.

Insider Transactions at Northrop Grumman

In other Northrop Grumman news, VP Benjamin R. Davies sold 192 shares of the stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $429.08, for a total value of $82,383.36. Following the completion of the sale, the vice president now directly owns 709 shares of the company’s stock, valued at $304,217.72. This represents a 21.31 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Over the last quarter, insiders have sold 291 shares of company stock worth $129,184. Insiders own 0.22% of the company’s stock.

Wall Street Analysts Forecast Growth

NOC has been the subject of a number of research analyst reports. StockNews.com downgraded shares of Northrop Grumman from a “strong-buy” rating to a “buy” rating in a research report on Monday, February 3rd. Wells Fargo & Company reduced their price objective on Northrop Grumman from $595.00 to $574.00 and set an “overweight” rating for the company in a research report on Friday, January 31st. Truist Financial initiated coverage on Northrop Grumman in a research report on Tuesday, January 14th. They issued a “buy” rating and a $544.00 target price on the stock. Citigroup lifted their price target on Northrop Grumman from $587.00 to $591.00 and gave the company a “buy” rating in a report on Monday, February 10th. Finally, UBS Group dropped their price objective on Northrop Grumman from $579.00 to $558.00 and set a “buy” rating on the stock in a report on Friday, January 31st. Nine analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $544.56.

Northrop Grumman Stock Performance

Shares of NOC opened at $449.98 on Tuesday. The company has a debt-to-equity ratio of 0.96, a current ratio of 1.01 and a quick ratio of 0.91. Northrop Grumman Co. has a one year low of $418.60 and a one year high of $555.57. The company’s fifty day moving average price is $470.38 and its 200 day moving average price is $497.29. The company has a market capitalization of $65.14 billion, a PE ratio of 15.88, a price-to-earnings-growth ratio of 3.73 and a beta of 0.35.

Northrop Grumman (NYSE:NOC) last posted its quarterly earnings data on Thursday, January 30th. The aerospace company reported $6.39 EPS for the quarter, topping analysts’ consensus estimates of $6.27 by $0.12. Northrop Grumman had a return on equity of 26.24% and a net margin of 10.17%. As a group, analysts expect that Northrop Grumman Co. will post 28.05 earnings per share for the current year.

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

Northrop Grumman Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 19th. Stockholders of record on Monday, March 3rd will be given a $2.06 dividend. The ex-dividend date is Monday, March 3rd. This represents a $8.24 annualized dividend and a dividend yield of 1.83%. Northrop Grumman’s dividend payout ratio is 29.08%.

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.