SlateStone Wealth LLC Purchases 501 Shares of Northrop Grumman Co. (NYSE:NOC)

SlateStone Wealth LLC increased its position in shares of Northrop Grumman Co. (NYSE:NOC) by 5.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 10,007 shares of the aerospace company’s stock after purchasing an additional 501 shares during the period. SlateStone Wealth LLC’s holdings in Northrop Grumman were worth $4,696,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. RPg Family Wealth Advisory LLC bought a new stake in shares of Northrop Grumman during the third quarter valued at approximately $31,000. Whipplewood Advisors LLC bought a new stake in Northrop Grumman in the fourth quarter valued at $31,000. FSA Wealth Management LLC bought a new stake in Northrop Grumman in the third quarter valued at $36,000. Albion Financial Group UT bought a new stake in Northrop Grumman in the fourth quarter valued at $33,000. Finally, Modus Advisors LLC bought a new stake in Northrop Grumman in the fourth quarter valued at $38,000. 83.40% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, CEO Kathy J. Warden sold 3,750 shares of the stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $475.65, for a total transaction of $1,783,687.50. Following the completion of the transaction, the chief executive officer now directly owns 212,852 shares in the company, valued at approximately $101,243,053.80. This trade represents a 1.73 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Benjamin R. Davies sold 464 shares of the stock in a transaction dated Friday, February 28th. The stock was sold at an average price of $460.75, for a total value of $213,788.00. Following the transaction, the vice president now owns 245 shares of the company’s stock, valued at approximately $112,883.75. The trade was a 65.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 4,505 shares of company stock worth $2,126,405. 0.22% of the stock is owned by corporate insiders.

Northrop Grumman Stock Down 0.9 %

Shares of Northrop Grumman stock opened at $486.10 on Friday. Northrop Grumman Co. has a 1 year low of $418.60 and a 1 year high of $555.57. The business has a 50-day moving average of $471.93 and a two-hundred day moving average of $494.37. The company has a market capitalization of $70.37 billion, a P/E ratio of 17.15, a price-to-earnings-growth ratio of 3.73 and a beta of 0.31. 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 (NYSE:NOC) last announced 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 return on equity of 26.24% and a net margin of 10.17%. As a group, equities analysts predict that Northrop Grumman Co. will post 28.05 EPS for the current year.

Northrop Grumman declared that its Board of Directors has approved a stock repurchase plan on Wednesday, December 11th that authorizes the company to buyback $3.00 billion in shares. This buyback authorization authorizes the aerospace company to purchase up to 4.3% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s board believes its stock is undervalued.

Northrop Grumman Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, March 19th. Shareholders of record on Monday, March 3rd will be issued a $2.06 dividend. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $8.24 annualized dividend and a dividend yield of 1.70%. Northrop Grumman’s dividend payout ratio (DPR) is currently 29.08%.

Analysts Set New Price Targets

A number of analysts have weighed in on NOC shares. Susquehanna lowered their price target on Northrop Grumman from $625.00 to $557.00 and set a “positive” rating on the stock in a research report on Wednesday, January 8th. Argus upgraded Northrop Grumman to a “strong-buy” rating in a research report on Wednesday, February 26th. UBS Group reduced their price objective on Northrop Grumman from $579.00 to $558.00 and set a “buy” rating on the stock in a research note on Friday, January 31st. StockNews.com lowered Northrop Grumman from a “strong-buy” rating to a “buy” rating in a research note on Monday, February 3rd. Finally, Truist Financial assumed coverage on Northrop Grumman in a research note on Tuesday, January 14th. They issued a “buy” rating and a $544.00 price objective on the stock. Nine investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $542.88.

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.