NewEdge Wealth LLC Has $3 Million Position in Northrop Grumman Co. (NYSE:NOC)

NewEdge Wealth LLC lifted its stake in Northrop Grumman Co. (NYSE:NOC) by 2.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 6,381 shares of the aerospace company’s stock after acquiring an additional 130 shares during the quarter. NewEdge Wealth LLC’s holdings in Northrop Grumman were worth $2,995,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of the stock. Meeder Advisory Services Inc. increased its stake in shares of Northrop Grumman by 0.9% in the third quarter. Meeder Advisory Services Inc. now owns 2,288 shares of the aerospace company’s stock worth $1,208,000 after acquiring an additional 20 shares during the last quarter. Thompson Siegel & Walmsley LLC increased its stake in shares of Northrop Grumman by 0.3% in the third quarter. Thompson Siegel & Walmsley LLC now owns 8,320 shares of the aerospace company’s stock worth $4,394,000 after acquiring an additional 21 shares during the last quarter. Sapient Capital LLC increased its stake in shares of Northrop Grumman by 1.1% in the fourth quarter. Sapient Capital LLC now owns 2,049 shares of the aerospace company’s stock worth $962,000 after acquiring an additional 22 shares during the last quarter. Bank Pictet & Cie Europe AG increased its stake in shares of Northrop Grumman by 2.2% in the fourth quarter. Bank Pictet & Cie Europe AG now owns 1,006 shares of the aerospace company’s stock worth $472,000 after acquiring an additional 22 shares during the last quarter. Finally, Mather Group LLC. increased its stake in shares of Northrop Grumman by 2.6% in the fourth quarter. Mather Group LLC. now owns 900 shares of the aerospace company’s stock worth $422,000 after acquiring an additional 23 shares during the last quarter. 83.40% of the stock is owned by institutional investors and hedge funds.

Northrop Grumman Stock Up 0.4 %

NOC stock opened at $461.74 on Friday. 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 52-week low of $418.60 and a 52-week high of $555.57. The company has a 50-day moving average of $469.44 and a two-hundred day moving average of $496.22. The stock has a market capitalization of $66.84 billion, a price-to-earnings ratio of 16.29, a price-to-earnings-growth ratio of 3.73 and a beta of 0.35.

Northrop Grumman (NYSE:NOC) last released its quarterly earnings results on Thursday, January 30th. The aerospace company reported $6.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $6.27 by $0.12. Northrop Grumman had a net margin of 10.17% and a return on equity of 26.24%. As a group, equities research analysts anticipate that Northrop Grumman Co. will post 28.05 EPS for the current year.

Northrop Grumman announced that its board has authorized a stock buyback plan on Wednesday, December 11th that authorizes the company to repurchase $3.00 billion in shares. This repurchase authorization authorizes the aerospace company to reacquire up to 4.3% of its stock through open market purchases. Stock repurchase plans 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 will be paid on Wednesday, March 19th. Investors of record on Monday, March 3rd will be paid a $2.06 dividend. This represents a $8.24 annualized dividend and a dividend yield of 1.78%. The ex-dividend date is Monday, March 3rd. Northrop Grumman’s payout ratio is presently 29.08%.

Insider Activity at Northrop Grumman

In related news, VP Benjamin R. Davies sold 192 shares of the stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $429.08, for a total value of $82,383.36. Following the completion of the sale, the vice president now owns 709 shares in the company, valued at approximately $304,217.72. This trade represents a 21.31 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Over the last 90 days, insiders sold 291 shares of company stock worth $129,184. Company insiders own 0.22% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently weighed in on NOC. Citigroup upped their price target on shares of Northrop Grumman from $587.00 to $591.00 and gave the stock a “buy” rating in a research note on Monday, February 10th. Wolfe Research raised shares of Northrop Grumman from an “underperform” rating to a “peer perform” rating in a research note on Monday, February 3rd. UBS Group lowered their target price on shares of Northrop Grumman from $579.00 to $558.00 and set a “buy” rating on the stock in a research report on Friday, January 31st. Susquehanna lowered their target price on shares of Northrop Grumman from $625.00 to $557.00 and set a “positive” rating on the stock in a research report on Wednesday, January 8th. Finally, Truist Financial started coverage on shares of Northrop Grumman in a research report on Tuesday, January 14th. They set a “buy” rating and a $544.00 target price on the stock. Nine analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $542.75.

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.