Jeppson Wealth Management LLC Sells 50 Shares of Northrop Grumman Co. (NYSE:NOC)

Jeppson Wealth Management LLC lessened its holdings in shares of Northrop Grumman Co. (NYSE:NOC) by 2.1% in the fourth quarter, Holdings Channel.com reports. The firm owned 2,387 shares of the aerospace company’s stock after selling 50 shares during the period. Jeppson Wealth Management LLC’s holdings in Northrop Grumman were worth $1,120,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. RPg Family Wealth Advisory LLC purchased a new position in Northrop Grumman in the 3rd quarter valued at approximately $31,000. FSA Wealth Management LLC purchased a new position in shares of Northrop Grumman in the third quarter valued at $36,000. Albion Financial Group UT bought a new stake in shares of Northrop Grumman during the 4th quarter valued at $33,000. Catalyst Capital Advisors LLC purchased a new stake in Northrop Grumman during the 3rd quarter worth about $40,000. Finally, Modus Advisors LLC bought a new position in Northrop Grumman in the 4th quarter worth about $38,000. Institutional investors own 83.40% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on NOC shares. Royal Bank of Canada upped their price target on Northrop Grumman from $500.00 to $540.00 and gave the company a “sector perform” rating in a research report on Friday, October 25th. Citigroup upgraded shares of Northrop Grumman from a “neutral” rating to a “buy” rating and set a $587.00 target price on the stock in a research note on Tuesday, January 21st. JPMorgan Chase & Co. boosted their price target on shares of Northrop Grumman from $500.00 to $560.00 and gave the company a “neutral” rating in a research report on Monday, October 14th. Truist Financial began coverage on Northrop Grumman in a research report on Tuesday, January 14th. They issued a “buy” rating and a $544.00 price objective on the stock. Finally, Wells Fargo & Company upgraded Northrop Grumman from an “equal weight” rating to an “overweight” rating and set a $595.00 target price for the company in a research report on Wednesday, January 8th. Eight equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Northrop Grumman has a consensus rating of “Moderate Buy” and a consensus price target of $550.94.

Northrop Grumman Price Performance

NOC stock opened at $503.09 on Tuesday. The firm has a market cap of $73.30 billion, a P/E ratio of 31.17, a P/E/G ratio of 0.95 and a beta of 0.35. The firm’s fifty day moving average is $478.66 and its 200 day moving average is $496.86. Northrop Grumman Co. has a 52 week low of $418.60 and a 52 week high of $555.57. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.97 and a current ratio of 1.09.

Northrop Grumman Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, December 18th. Stockholders of record on Monday, December 2nd were issued a $2.06 dividend. The ex-dividend date was Monday, December 2nd. This represents a $8.24 annualized dividend and a dividend yield of 1.64%. Northrop Grumman’s dividend payout ratio is currently 51.05%.

Northrop Grumman declared that its board has initiated a share repurchase plan 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 plans are typically a sign that the company’s management believes its shares are undervalued.

Insider Activity

In related news, VP Benjamin R. Davies sold 1,156 shares of Northrop Grumman stock in a transaction on Monday, November 11th. The shares were sold at an average price of $532.93, for a total value of $616,067.08. Following the transaction, the vice president now directly owns 537 shares of the company’s stock, valued at $286,183.41. The trade was a 68.28 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In the last quarter, insiders sold 1,255 shares of company stock valued at $663,859. Insiders own 0.22% of the company’s stock.

About Northrop Grumman

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.