Bank of Jackson Hole Trust Takes Position in Northrop Grumman Co. (NYSE:NOC)

Bank of Jackson Hole Trust acquired a new stake in shares of Northrop Grumman Co. (NYSE:NOC) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 219 shares of the aerospace company’s stock, valued at approximately $103,000.

Other institutional investors have also recently made changes to their positions in the company. RPg Family Wealth Advisory LLC bought a new stake in shares of Northrop Grumman in the 3rd quarter worth approximately $31,000. Albion Financial Group UT bought a new stake in shares of Northrop Grumman in the 4th quarter worth approximately $33,000. FSA Wealth Management LLC bought a new stake in shares of Northrop Grumman in the 3rd quarter worth approximately $36,000. Modus Advisors LLC bought a new stake in shares of Northrop Grumman in the 4th quarter worth approximately $38,000. Finally, Catalyst Capital Advisors LLC bought a new stake in shares of Northrop Grumman in the 3rd quarter worth approximately $40,000. Hedge funds and other institutional investors own 83.40% of the company’s stock.

Northrop Grumman Stock Down 1.8 %

NOC stock opened at $433.63 on Thursday. Northrop Grumman Co. has a 1-year low of $418.60 and a 1-year high of $555.57. The business has a fifty day moving average price of $472.52 and a 200-day moving average price of $498.17. The company has a debt-to-equity ratio of 0.96, a current ratio of 1.01 and a quick ratio of 0.91. The stock has a market capitalization of $62.77 billion, a P/E ratio of 15.30, a P/E/G ratio of 3.73 and a beta of 0.35.

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

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

Northrop Grumman Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, March 19th. Stockholders of record on Monday, March 3rd will be paid a $2.06 dividend. This represents a $8.24 annualized dividend and a dividend yield of 1.90%. The ex-dividend date is Monday, March 3rd. Northrop Grumman’s dividend payout ratio is currently 29.08%.

Analysts Set New Price Targets

NOC has been the topic of a number of recent analyst reports. Wolfe Research upgraded Northrop Grumman from an “underperform” rating to a “peer perform” rating in a research report on Monday, February 3rd. Citigroup lifted their price objective on Northrop Grumman from $587.00 to $591.00 and gave the stock a “buy” rating in a research report on Monday, February 10th. Truist Financial began coverage on Northrop Grumman in a research report on Tuesday, January 14th. They set a “buy” rating and a $544.00 price target on the stock. Barclays dropped their price target 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. Finally, Susquehanna dropped their price target on Northrop Grumman from $625.00 to $557.00 and set a “positive” rating on the stock in a research report on Wednesday, January 8th. Nine analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $544.56.

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.