OneAscent Financial Services LLC Makes New Investment in Northrop Grumman Co. (NYSE:NOC)

OneAscent Financial Services LLC bought a new position in Northrop Grumman Co. (NYSE:NOC) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 506 shares of the aerospace company’s stock, valued at approximately $238,000.

A number of other institutional investors have also modified their holdings of NOC. Whipplewood Advisors LLC acquired a new stake in Northrop Grumman during the fourth quarter valued at approximately $31,000. Albion Financial Group UT bought a new stake in shares of Northrop Grumman in the 4th quarter valued at approximately $33,000. Modus Advisors LLC acquired a new stake in shares of Northrop Grumman during the 4th quarter valued at approximately $38,000. Stonebridge Financial Group LLC bought a new position in Northrop Grumman during the fourth quarter worth $42,000. Finally, Rakuten Securities Inc. lifted its stake in Northrop Grumman by 291.7% during the fourth quarter. Rakuten Securities Inc. now owns 94 shares of the aerospace company’s stock worth $44,000 after purchasing an additional 70 shares during the last quarter. Institutional investors and hedge funds own 83.40% of the company’s stock.

Wall Street Analyst Weigh In

NOC has been the topic of a number of research reports. Wolfe Research raised shares of Northrop Grumman from an “underperform” rating to a “peer perform” rating in a report on Monday, February 3rd. UBS Group cut 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. Truist Financial began coverage on Northrop Grumman in a report on Tuesday, January 14th. They set a “buy” rating and a $544.00 target price for the company. Barclays cut their price target on Northrop Grumman from $550.00 to $500.00 and set an “equal weight” rating on the stock in a report on Monday, January 6th. Finally, Susquehanna lowered their price objective on Northrop Grumman from $625.00 to $557.00 and set a “positive” rating for the company in a research note on Wednesday, January 8th. Eight equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Northrop Grumman has an average rating of “Moderate Buy” and a consensus target price of $545.06.

Northrop Grumman Trading Down 5.6 %

Shares of NOC stock opened at $486.23 on Friday. The company has a quick ratio of 0.91, a current ratio of 1.01 and a debt-to-equity ratio of 0.96. The stock has a 50-day simple moving average of $479.27 and a 200 day simple moving average of $492.64. Northrop Grumman Co. has a fifty-two week low of $418.60 and a fifty-two week high of $555.57. The stock has a market capitalization of $70.38 billion, a P/E ratio of 17.16, a P/E/G ratio of 3.73 and a beta of 0.31.

Northrop Grumman (NYSE:NOC) last announced its quarterly earnings data on Thursday, January 30th. The aerospace company reported $6.39 earnings per share (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, sell-side analysts expect that Northrop Grumman Co. will post 28.05 earnings per share for the current fiscal year.

Northrop Grumman Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 19th. Stockholders of record on Monday, March 3rd were given a dividend of $2.06 per share. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $8.24 dividend on an annualized basis and a dividend yield of 1.69%. Northrop Grumman’s dividend payout ratio (DPR) is presently 29.08%.

Northrop Grumman announced that its board has initiated a share buyback plan on Wednesday, December 11th that allows the company to repurchase $3.00 billion in shares. This repurchase authorization allows the aerospace company to buy up to 4.3% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s leadership believes its shares are undervalued.

Insider Transactions at Northrop Grumman

In related news, CEO Kathy J. Warden sold 3,750 shares of the stock in a transaction on Thursday, March 6th. The stock was sold at an average price of $475.65, for a total value of $1,783,687.50. Following the completion of the transaction, the chief executive officer now owns 212,852 shares in the company, valued at $101,243,053.80. This trade represents a 1.73 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, VP Benjamin R. Davies sold 192 shares of the business’s stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $429.08, for a total value of $82,383.36. Following the sale, the vice president now owns 709 shares in the company, valued at approximately $304,217.72. The trade was a 21.31 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 4,505 shares of company stock valued at $2,126,405 in the last three months. 0.22% of the stock is currently owned by corporate insiders.

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.