Motco Buys 150 Shares of Northrop Grumman Co. (NYSE:NOC)

Motco raised its position in shares of Northrop Grumman Co. (NYSE:NOC) by 1.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 11,862 shares of the aerospace company’s stock after acquiring an additional 150 shares during the period. Motco’s holdings in Northrop Grumman were worth $5,567,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Pallas Capital Advisors LLC acquired a new stake in shares of Northrop Grumman during the third quarter worth $522,000. abrdn plc increased its position in Northrop Grumman by 27.1% during the third quarter. abrdn plc now owns 12,868 shares of the aerospace company’s stock worth $6,756,000 after acquiring an additional 2,747 shares during the period. Childress Capital Advisors LLC acquired a new stake in Northrop Grumman in the 3rd quarter worth about $264,000. Hudson Valley Investment Advisors Inc. ADV boosted its holdings in Northrop Grumman by 0.9% in the 3rd quarter. Hudson Valley Investment Advisors Inc. ADV now owns 2,262 shares of the aerospace company’s stock valued at $1,194,000 after purchasing an additional 20 shares during the period. Finally, Cornerstone Wealth Group LLC acquired a new position in shares of Northrop Grumman during the 3rd quarter worth approximately $229,000. Institutional investors and hedge funds own 83.40% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on NOC shares. Barclays dropped their price target on shares of 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. Susquehanna cut their target price on Northrop Grumman from $625.00 to $557.00 and set a “positive” rating for the company in a research report on Wednesday, January 8th. Wells Fargo & Company dropped their price target on Northrop Grumman from $574.00 to $545.00 and set an “overweight” rating for the company in a research note on Wednesday. Citigroup increased their price objective on shares of Northrop Grumman from $587.00 to $591.00 and gave the stock a “buy” rating in a research note on Monday, February 10th. Finally, Truist Financial started coverage on shares of Northrop Grumman in a research report on Tuesday, January 14th. They issued a “buy” rating and a $544.00 target price for the company. Nine equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $542.75.

Northrop Grumman Stock Up 1.1 %

Shares of NYSE:NOC opened at $459.90 on Friday. Northrop Grumman Co. has a 52-week low of $418.60 and a 52-week high of $555.57. The company has a market capitalization of $66.57 billion, a PE ratio of 16.23, a price-to-earnings-growth ratio of 3.73 and a beta of 0.35. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.91 and a current ratio of 1.01. The company has a fifty day moving average of $469.59 and a 200-day moving average of $496.50.

Northrop Grumman (NYSE:NOC) last issued its quarterly earnings data on Thursday, January 30th. The aerospace company reported $6.39 earnings per share 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%. On average, equities analysts predict that Northrop Grumman Co. will post 28.05 EPS for the current fiscal year.

Northrop Grumman Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 19th. Investors of record on Monday, March 3rd will be issued a $2.06 dividend. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $8.24 dividend on an annualized basis and a yield of 1.79%. Northrop Grumman’s dividend payout ratio (DPR) is presently 29.08%.

Northrop Grumman declared that its Board of Directors has initiated a stock buyback program on Wednesday, December 11th that authorizes the company to buyback $3.00 billion in shares. This buyback authorization authorizes the aerospace company to repurchase up to 4.3% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s leadership believes its shares are undervalued.

Insider Buying and Selling

In other news, VP Benjamin R. Davies sold 192 shares of Northrop Grumman stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $429.08, for a total transaction of $82,383.36. Following the transaction, the vice president now owns 709 shares in the company, valued at approximately $304,217.72. The trade was a 21.31 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have sold a total of 291 shares of company stock worth $129,184 in the last ninety days. Company insiders own 0.22% of the company’s stock.

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.