Avidian Wealth Enterprises LLC Sells 24 Shares of Northrop Grumman Co. (NYSE:NOC)

Avidian Wealth Enterprises LLC trimmed its holdings in shares of Northrop Grumman Co. (NYSE:NOC) by 3.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 662 shares of the aerospace company’s stock after selling 24 shares during the quarter. Avidian Wealth Enterprises LLC’s holdings in Northrop Grumman were worth $311,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of NOC. Exchange Traded Concepts LLC increased its holdings in Northrop Grumman by 18.0% in the 3rd quarter. Exchange Traded Concepts LLC now owns 1,736 shares of the aerospace company’s stock valued at $917,000 after buying an additional 265 shares during the period. Creative Planning increased its holdings in Northrop Grumman by 7.6% in the 3rd quarter. Creative Planning now owns 42,571 shares of the aerospace company’s stock valued at $22,481,000 after buying an additional 3,017 shares during the period. Foster Victor Wealth Advisors LLC bought a new position in Northrop Grumman in the 3rd quarter valued at about $244,000. Asset Dedication LLC increased its holdings in Northrop Grumman by 1.0% in the 3rd quarter. Asset Dedication LLC now owns 2,025 shares of the aerospace company’s stock valued at $1,069,000 after buying an additional 20 shares during the period. Finally, Firethorn Wealth Partners LLC bought a new position in Northrop Grumman in the 3rd quarter valued at about $245,000. 83.40% of the stock is owned by institutional investors.

Northrop Grumman Stock Down 3.6 %

NYSE:NOC opened at $454.09 on Friday. The firm’s 50 day simple moving average is $476.15 and its 200 day simple moving average is $499.78. The company has a debt-to-equity ratio of 0.96, a current ratio of 1.01 and a quick ratio of 0.91. Northrop Grumman Co. has a one year low of $418.60 and a one year high of $555.57. The company has a market cap of $65.73 billion, a PE ratio of 16.02, a P/E/G ratio of 3.00 and a beta of 0.35.

Northrop Grumman (NYSE:NOC) last posted 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 net margin of 10.17% and a return on equity of 26.24%. On average, research analysts anticipate that Northrop Grumman Co. will post 27.94 earnings per share for the current year.

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

Northrop Grumman Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, December 18th. Shareholders of record on Monday, December 2nd were issued 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 yield of 1.81%. Northrop Grumman’s payout ratio is 29.08%.

Wall Street Analyst Weigh In

Several equities analysts have commented on NOC shares. UBS Group decreased their target price on shares of Northrop Grumman from $579.00 to $558.00 and set a “buy” rating on the stock in a report on Friday, January 31st. Susquehanna decreased their target price on shares of Northrop Grumman from $625.00 to $557.00 and set a “positive” rating on the stock in a report on Wednesday, January 8th. Citigroup raised their price target on shares of Northrop Grumman from $587.00 to $591.00 and gave the company a “buy” rating in a research note on Monday. StockNews.com downgraded shares of Northrop Grumman from a “strong-buy” rating to a “buy” rating in a research note on Monday, February 3rd. Finally, Wells Fargo & Company reduced their price target on shares of Northrop Grumman from $595.00 to $574.00 and set an “overweight” rating on the stock in a research note on Friday, January 31st. Nine equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price 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.