Baker Tilly Wealth Management LLC Increases Stock Holdings in Northrop Grumman Co. (NYSE:NOC)

Baker Tilly Wealth Management LLC increased its stake in shares of Northrop Grumman Co. (NYSE:NOC) by 46.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,403 shares of the aerospace company’s stock after purchasing an additional 445 shares during the quarter. Baker Tilly Wealth Management LLC’s holdings in Northrop Grumman were worth $658,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of NOC. Ashton Thomas Private Wealth LLC acquired a new stake in Northrop Grumman in the second quarter valued at about $61,000. Daiwa Securities Group Inc. boosted its stake in shares of Northrop Grumman by 8.9% in the second quarter. Daiwa Securities Group Inc. now owns 15,247 shares of the aerospace company’s stock valued at $6,647,000 after buying an additional 1,251 shares in the last quarter. Angeles Wealth Management LLC grew its holdings in Northrop Grumman by 6.1% during the second quarter. Angeles Wealth Management LLC now owns 542 shares of the aerospace company’s stock worth $236,000 after acquiring an additional 31 shares during the period. HHM Wealth Advisors LLC raised its position in Northrop Grumman by 463.6% in the second quarter. HHM Wealth Advisors LLC now owns 124 shares of the aerospace company’s stock worth $54,000 after acquiring an additional 102 shares in the last quarter. Finally, LPL Financial LLC raised its position in Northrop Grumman by 4.7% in the second quarter. LPL Financial LLC now owns 233,630 shares of the aerospace company’s stock worth $101,851,000 after acquiring an additional 10,572 shares in the last quarter. 83.40% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions 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 stock was 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 approximately $286,183.41. This trade represents a 68.28 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have sold a total of 1,255 shares of company stock worth $663,859 in the last three months. Company insiders own 0.22% of the company’s stock.

Northrop Grumman Trading Down 0.8 %

Shares of NOC traded down $3.67 on Friday, hitting $458.54. 86,625 shares of the stock traded hands, compared to its average volume of 668,421. Northrop Grumman Co. has a 1 year low of $418.60 and a 1 year high of $555.57. The stock’s 50 day moving average is $485.71 and its two-hundred day moving average is $492.01. The firm has a market capitalization of $66.81 billion, a P/E ratio of 28.41, a P/E/G ratio of 0.97 and a beta of 0.35. The company has a quick ratio of 0.97, a current ratio of 1.09 and a debt-to-equity ratio of 1.00.

Northrop Grumman (NYSE:NOC) last issued 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 company had revenue of $10 billion during the quarter, compared to the consensus estimate of $10.18 billion. During the same period in the previous year, the firm posted $6.18 EPS. Northrop Grumman’s revenue was up 2.3% on a year-over-year basis. As a group, sell-side analysts predict that Northrop Grumman Co. will post 25.93 earnings per share for the current year.

Northrop Grumman announced that its board has initiated a share buyback program on Wednesday, December 11th that allows the company to buyback $3.00 billion in shares. This buyback authorization allows the aerospace company to buy up to 4.3% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s board believes its shares are undervalued.

Northrop Grumman Dividend Announcement

The business also recently disclosed 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 1.80%. The ex-dividend date was Monday, December 2nd. Northrop Grumman’s dividend payout ratio is currently 51.05%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the stock. Barclays lowered their price target on shares of Northrop Grumman from $550.00 to $500.00 and set an “equal weight” rating on the stock in a research note on Monday. Susquehanna dropped their target price on shares of Northrop Grumman from $625.00 to $557.00 and set a “positive” rating for the company in a report on Wednesday. Citigroup lifted their price target on shares of Northrop Grumman from $521.00 to $587.00 and gave the company a “neutral” rating in a research report on Thursday, October 10th. TD Cowen upgraded Northrop Grumman to a “hold” rating in a report on Tuesday, October 8th. Finally, JPMorgan Chase & Co. lifted their price objective on Northrop Grumman from $500.00 to $560.00 and gave the stock a “neutral” rating in a report on Monday, October 14th. Nine equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $551.40.

Northrop Grumman Company 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.