IMG Wealth Management Inc. Invests $79,000 in Northrop Grumman Co. (NYSE:NOC)

IMG Wealth Management Inc. purchased a new position in Northrop Grumman Co. (NYSE:NOC) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 169 shares of the aerospace company’s stock, valued at approximately $79,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in NOC. RPg Family Wealth Advisory LLC bought a new position in Northrop Grumman in the 3rd quarter valued at approximately $31,000. Whipplewood Advisors LLC bought a new position in Northrop Grumman in the 4th quarter valued at approximately $31,000. Albion Financial Group UT bought a new position in Northrop Grumman in the 4th quarter valued at approximately $33,000. FSA Wealth Management LLC bought a new position in Northrop Grumman in the 3rd quarter valued at approximately $36,000. Finally, Modus Advisors LLC bought a new position in Northrop Grumman in the 4th quarter valued at approximately $38,000. 83.40% of the stock is owned by institutional investors.

Northrop Grumman Trading Down 0.9 %

Shares of NOC stock opened at $486.10 on Monday. Northrop Grumman Co. has a 52-week low of $418.60 and a 52-week high of $555.57. 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 firm has a market capitalization of $70.37 billion, a PE ratio of 17.15, a PEG ratio of 3.73 and a beta of 0.31. The stock has a fifty day simple moving average of $471.93 and a two-hundred day simple moving average of $494.23.

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, beating 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, analysts predict that Northrop Grumman Co. will post 28.05 EPS for the current fiscal year.

Northrop Grumman declared that its Board of Directors has approved a share buyback plan on Wednesday, December 11th that allows the company to repurchase $3.00 billion in shares. This repurchase authorization allows the aerospace company to buy up to 4.3% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s management believes its shares are undervalued.

Northrop Grumman Dividend Announcement

The company 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 dividend of $2.06 per share. The ex-dividend date is Monday, March 3rd. This represents a $8.24 dividend on an annualized basis and a dividend yield of 1.70%. Northrop Grumman’s payout ratio is 29.08%.

Insider Activity

In related news, VP Benjamin R. Davies sold 464 shares of the stock in a transaction dated Friday, February 28th. The shares were sold at an average price of $460.75, for a total value of $213,788.00. Following the completion of the transaction, the vice president now owns 245 shares of the company’s stock, valued at approximately $112,883.75. This trade represents a 65.44 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Kathy J. Warden sold 3,750 shares of the stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $475.65, for a total transaction of $1,783,687.50. Following the completion of the transaction, the chief executive officer now directly owns 212,852 shares of the company’s stock, valued at approximately $101,243,053.80. The trade was a 1.73 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 4,505 shares of company stock worth $2,126,405 over the last 90 days. Corporate insiders own 0.22% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently issued reports on NOC shares. Barclays lowered their price objective on Northrop Grumman from $550.00 to $500.00 and set an “equal weight” rating on the stock in a research report on Monday, January 6th. UBS Group lowered their price target on Northrop Grumman from $579.00 to $558.00 and set a “buy” rating on the stock in a report on Friday, January 31st. Truist Financial began coverage on Northrop Grumman in a report on Tuesday, January 14th. They set a “buy” rating and a $544.00 price target on the stock. StockNews.com cut Northrop Grumman from a “strong-buy” rating to a “buy” rating in a report on Monday, February 3rd. Finally, Wells Fargo & Company increased their price target on Northrop Grumman from $545.00 to $547.00 and gave the company an “overweight” rating in a report on Friday, March 7th. Nine equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $542.88.

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.