Synergy Asset Management LLC Takes $57,000 Position in Northrop Grumman Co. (NYSE:NOC)

Synergy Asset Management LLC purchased a new position in shares of Northrop Grumman Co. (NYSE:NOCFree Report) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 121 shares of the aerospace company’s stock, valued at approximately $57,000.

A number of other hedge funds have also added to or reduced their stakes in the company. RPg Family Wealth Advisory LLC bought a new position in shares of Northrop Grumman in the 3rd quarter valued at $31,000. FSA Wealth Management LLC acquired a new stake in Northrop Grumman in the third quarter valued at about $36,000. Albion Financial Group UT acquired a new stake in Northrop Grumman in the fourth quarter valued at about $33,000. Catalyst Capital Advisors LLC bought a new position in Northrop Grumman in the third quarter valued at about $40,000. Finally, Modus Advisors LLC acquired a new position in Northrop Grumman during the fourth quarter worth about $38,000. 83.40% of the stock is owned by institutional investors.

Northrop Grumman Stock Performance

Shares of NOC opened at $483.70 on Friday. The firm’s fifty day simple moving average is $478.66 and its two-hundred day simple moving average is $497.63. Northrop Grumman Co. has a 12 month low of $418.60 and a 12 month high of $555.57. The company has a current ratio of 1.09, a quick ratio of 0.97 and a debt-to-equity ratio of 1.00. The stock has a market capitalization of $70.48 billion, a P/E ratio of 29.97, a price-to-earnings-growth ratio of 0.95 and a beta of 0.35.

Northrop Grumman (NYSE:NOCGet Free Report) last released its earnings results on Thursday, January 30th. The aerospace company reported $6.39 EPS for the quarter, topping the consensus estimate of $6.27 by $0.12. Northrop Grumman had a return on equity of 26.57% and a net margin of 5.79%. As a group, analysts predict that Northrop Grumman Co. will post 25.96 EPS for the current year.

Northrop Grumman declared that its Board of Directors has initiated a stock repurchase program on Wednesday, December 11th that permits the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization permits the aerospace company to buy up to 4.3% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s board believes its shares are undervalued.

Northrop Grumman Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, December 18th. Investors 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 dividend yield of 1.70%. Northrop Grumman’s payout ratio is presently 51.05%.

Insider Buying and Selling

In other news, VP Benjamin R. Davies sold 1,156 shares of the stock in a transaction dated 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 owns 537 shares of the company’s stock, valued at $286,183.41. This represents a 68.28 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders have sold a total of 1,255 shares of company stock valued at $663,859 over the last ninety days. 0.22% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on NOC. StockNews.com upgraded shares of Northrop Grumman from a “buy” rating to a “strong-buy” rating in a research note on Sunday, January 19th. Royal Bank of Canada boosted their price objective on Northrop Grumman from $500.00 to $540.00 and gave the stock a “sector perform” rating in a research report on Friday, October 25th. Susquehanna dropped their target price on Northrop Grumman from $625.00 to $557.00 and set a “positive” rating for the company in a research report on Wednesday, January 8th. TD Cowen upgraded Northrop Grumman to a “hold” rating in a report on Tuesday, October 8th. Finally, Barclays dropped their price objective on shares of Northrop Grumman from $550.00 to $500.00 and set an “equal weight” rating for the company in a report on Monday, January 6th. Eight research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Northrop Grumman currently has an average rating of “Moderate Buy” and an average target price of $550.94.

Read Our Latest Stock Report on Northrop Grumman

Northrop Grumman Company Profile

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Northrop Grumman (NYSE:NOC)

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