Northrop Grumman Co. (NYSE:NOC) Shares Bought by Cohen Investment Advisors LLC

Cohen Investment Advisors LLC grew its holdings in Northrop Grumman Co. (NYSE:NOC) by 1.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 5,740 shares of the aerospace company’s stock after purchasing an additional 88 shares during the period. Northrop Grumman makes up 1.6% of Cohen Investment Advisors LLC’s investment portfolio, making the stock its 26th largest position. Cohen Investment Advisors LLC’s holdings in Northrop Grumman were worth $2,694,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Y Intercept Hong Kong Ltd acquired a new position in Northrop Grumman in the third quarter valued at about $604,000. Fisher Asset Management LLC raised its stake in shares of Northrop Grumman by 2.6% in the 3rd quarter. Fisher Asset Management LLC now owns 212,514 shares of the aerospace company’s stock valued at $112,222,000 after acquiring an additional 5,334 shares during the period. AIA Group Ltd lifted its holdings in shares of Northrop Grumman by 20.0% in the 3rd quarter. AIA Group Ltd now owns 7,458 shares of the aerospace company’s stock worth $3,938,000 after acquiring an additional 1,242 shares during the last quarter. Aviso Wealth Management boosted its position in shares of Northrop Grumman by 110.7% during the 2nd quarter. Aviso Wealth Management now owns 1,896 shares of the aerospace company’s stock worth $827,000 after purchasing an additional 996 shares during the period. Finally, Susquehanna International Securities Ltd. acquired a new stake in Northrop Grumman in the 2nd quarter valued at approximately $1,133,000. 83.40% of the stock is currently owned by hedge funds and other institutional investors.

Northrop Grumman Price Performance

Shares of NOC opened at $480.29 on Friday. The company has a market capitalization of $69.98 billion, a price-to-earnings ratio of 29.76, a price-to-earnings-growth ratio of 0.87 and a beta of 0.35. Northrop Grumman Co. has a fifty-two week low of $418.60 and a fifty-two week high of $555.57. The firm has a 50-day simple moving average of $482.29 and a 200-day simple moving average of $493.47. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.97 and a current ratio of 1.09.

Northrop Grumman (NYSE:NOC) last announced its 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. The company had revenue of $10 billion for the quarter, compared to the consensus estimate of $10.18 billion. Northrop Grumman had a return on equity of 26.57% and a net margin of 5.79%. The company’s revenue was up 2.3% on a year-over-year basis. During the same period last year, the business posted $6.18 EPS. On average, equities research analysts anticipate that Northrop Grumman Co. will post 25.93 earnings per share for the current year.

Northrop Grumman Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, December 18th. Shareholders of record on Monday, December 2nd were given a dividend of $2.06 per share. The ex-dividend date was Monday, December 2nd. This represents a $8.24 dividend on an annualized basis and a yield of 1.72%. Northrop Grumman’s payout ratio is currently 51.05%.

Northrop Grumman announced that its board has approved a stock repurchase program on Wednesday, December 11th that allows the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization allows the aerospace company to repurchase up to 4.3% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s leadership believes its shares are undervalued.

Wall Street Analyst Weigh In

A number of research firms have commented on NOC. StockNews.com cut Northrop Grumman from a “strong-buy” rating to a “buy” rating in a research note on Saturday, January 11th. Susquehanna decreased their target price on Northrop Grumman from $625.00 to $557.00 and set a “positive” rating on the stock in a research note on Wednesday, January 8th. Wells Fargo & Company raised Northrop Grumman from an “equal weight” rating to an “overweight” rating and set a $595.00 target price for the company in a research report on Wednesday, January 8th. Royal Bank of Canada increased their price target on shares of Northrop Grumman from $500.00 to $540.00 and gave the stock a “sector perform” rating in a research report on Friday, October 25th. Finally, Truist Financial started coverage on shares of Northrop Grumman in a report on Tuesday. They issued a “buy” rating and a $544.00 price objective for the company. Nine investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, Northrop Grumman has an average rating of “Hold” and an average target price of $550.94.

Insider Transactions at Northrop Grumman

In other news, VP Benjamin R. Davies sold 1,156 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the vice president now directly owns 537 shares of the company’s stock, valued at $286,183.41. This trade represents a 68.28 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In the last quarter, insiders sold 1,255 shares of company stock worth $663,859. Company insiders own 0.22% of the company’s stock.

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.