540 Shares in Northrop Grumman Co. (NYSE:NOC) Bought by World Equity Group Inc.

World Equity Group Inc. bought a new position in shares of Northrop Grumman Co. (NYSE:NOC) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 540 shares of the aerospace company’s stock, valued at approximately $253,000.

A number of other institutional investors and hedge funds have also bought and sold shares of NOC. Allworth Financial LP increased its position in Northrop Grumman by 1.1% during the third quarter. Allworth Financial LP now owns 4,385 shares of the aerospace company’s stock worth $2,315,000 after acquiring an additional 47 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its position in Northrop Grumman by 36.8% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 8,348 shares of the aerospace company’s stock worth $4,398,000 after acquiring an additional 2,246 shares during the period. Wealth Enhancement Advisory Services LLC increased its position in Northrop Grumman by 4.2% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 28,825 shares of the aerospace company’s stock worth $15,222,000 after acquiring an additional 1,157 shares during the period. Modera Wealth Management LLC increased its holdings in Northrop Grumman by 3.0% in the 3rd quarter. Modera Wealth Management LLC now owns 7,852 shares of the aerospace company’s stock valued at $4,146,000 after buying an additional 230 shares during the period. Finally, Frank Rimerman Advisors LLC increased its holdings in Northrop Grumman by 1.1% in the 3rd quarter. Frank Rimerman Advisors LLC now owns 1,937 shares of the aerospace company’s stock valued at $1,023,000 after buying an additional 21 shares during the period. Institutional investors own 83.40% of the company’s stock.

Wall Street Analyst Weigh In

NOC has been the topic of several analyst reports. Wolfe Research raised shares of Northrop Grumman from an “underperform” rating to a “peer perform” rating in a report on Monday, February 3rd. Truist Financial initiated coverage on shares of Northrop Grumman in a report on Tuesday, January 14th. They issued a “buy” rating and a $544.00 price target on the stock. Wells Fargo & Company lowered their price target on shares of Northrop Grumman from $595.00 to $574.00 and set an “overweight” rating on the stock in a report on Friday, January 31st. Barclays lowered their price target on shares of 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, Citigroup boosted their price target on shares of Northrop Grumman from $587.00 to $591.00 and gave the company a “buy” rating in a report on Monday, February 10th. Nine analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $544.56.

Northrop Grumman Stock Up 0.5 %

Shares of NYSE:NOC opened at $449.98 on Tuesday. The company’s fifty day moving average is $470.38 and its 200-day moving average is $497.29. The company has a market capitalization of $65.14 billion, a PE ratio of 15.88, a P/E/G ratio of 3.73 and a beta of 0.35. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.91 and a current ratio of 1.01. Northrop Grumman Co. has a 52 week low of $418.60 and a 52 week high of $555.57.

Northrop Grumman (NYSE:NOC) last issued its quarterly earnings results 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%. Equities research analysts predict that Northrop Grumman Co. will post 28.05 earnings per share for the current fiscal year.

Northrop Grumman Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 19th. Investors of record on Monday, March 3rd will be given a dividend of $2.06 per share. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $8.24 annualized dividend and a yield of 1.83%. Northrop Grumman’s dividend payout ratio (DPR) is 29.08%.

Northrop Grumman declared that its Board of Directors has initiated a stock buyback program on Wednesday, December 11th that authorizes the company to buyback $3.00 billion in outstanding shares. This buyback authorization authorizes 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 leadership believes its shares are undervalued.

Insider Buying and Selling

In related news, VP Benjamin R. Davies sold 192 shares of the company’s stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $429.08, for a total transaction of $82,383.36. Following the transaction, the vice president now owns 709 shares in the company, valued at $304,217.72. This represents a 21.31 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders have sold a total of 291 shares of company stock worth $129,184 in the last 90 days. Corporate 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.