Pure Financial Advisors LLC Raises Holdings in Northrop Grumman Co. (NYSE:NOC)

Pure Financial Advisors LLC increased its position in Northrop Grumman Co. (NYSE:NOC) by 11.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,404 shares of the aerospace company’s stock after buying an additional 469 shares during the period. Pure Financial Advisors LLC’s holdings in Northrop Grumman were worth $2,067,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. RPg Family Wealth Advisory LLC bought a new stake in Northrop Grumman in the 3rd quarter worth approximately $31,000. FSA Wealth Management LLC purchased a new position in shares of Northrop Grumman in the third quarter valued at $36,000. Catalyst Capital Advisors LLC bought a new stake in Northrop Grumman in the third quarter worth $40,000. Modus Advisors LLC purchased a new stake in Northrop Grumman during the fourth quarter valued at $38,000. Finally, True Wealth Design LLC bought a new position in Northrop Grumman during the third quarter valued at $53,000. 83.40% of the stock is owned by institutional investors.

Insider Activity at Northrop Grumman

In other news, VP Benjamin R. Davies sold 1,156 shares of the stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $532.93, for a total transaction of $616,067.08. Following the transaction, the vice president now directly 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders sold 1,255 shares of company stock worth $663,859 over the last three months. 0.22% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on NOC shares. TD Cowen upgraded shares of Northrop Grumman to a “hold” rating in a research report on Tuesday, October 8th. Susquehanna decreased their price objective 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. Barclays dropped their target price on Northrop Grumman from $550.00 to $500.00 and set an “equal weight” rating for the company in a report on Monday, January 6th. Truist Financial started 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. Finally, UBS Group lifted their price objective on shares of Northrop Grumman from $614.00 to $643.00 and gave the stock a “buy” rating in a research note on Friday, October 25th. Nine analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $550.94.

Northrop Grumman Price Performance

Northrop Grumman stock opened at $482.49 on Tuesday. The company has a debt-to-equity ratio of 1.00, a current ratio of 1.09 and a quick ratio of 0.97. The stock has a market cap of $70.30 billion, a price-to-earnings ratio of 29.89, a price-to-earnings-growth ratio of 0.91 and a beta of 0.35. The firm has a 50-day moving average of $480.55 and a two-hundred day moving average of $494.51. Northrop Grumman Co. has a 1 year low of $418.60 and a 1 year high of $555.57.

Northrop Grumman (NYSE:NOC) last announced its quarterly earnings results on Thursday, October 24th. The aerospace company reported $7.00 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $6.07 by $0.93. The firm had revenue of $10 billion during the quarter, compared to analyst estimates of $10.18 billion. Northrop Grumman had a return on equity of 26.57% and a net margin of 5.79%. Northrop Grumman’s quarterly revenue was up 2.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $6.18 earnings per share. On average, research analysts forecast that Northrop Grumman Co. will post 25.95 earnings per share for the current year.

Northrop Grumman announced that its Board of Directors has initiated a stock repurchase plan on Wednesday, December 11th that authorizes the company to buyback $3.00 billion in outstanding shares. This buyback authorization authorizes the aerospace company to reacquire up to 4.3% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s management believes its shares are undervalued.

Northrop Grumman Announces Dividend

The company also recently declared 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. The ex-dividend date of this dividend was Monday, December 2nd. This represents a $8.24 annualized dividend and a dividend yield of 1.71%. Northrop Grumman’s dividend payout ratio is currently 51.05%.

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.