Lake Street Private Wealth LLC boosted its stake in shares of Northrop Grumman Co. (NYSE:NOC – Free Report) by 7.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 8,348 shares of the aerospace company’s stock after buying an additional 581 shares during the quarter. Lake Street Private Wealth LLC’s holdings in Northrop Grumman were worth $3,918,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds also recently added to or reduced their stakes in the stock. Ascent Group LLC grew its stake in Northrop Grumman by 0.5% in the 2nd quarter. Ascent Group LLC now owns 4,337 shares of the aerospace company’s stock valued at $1,891,000 after acquiring an additional 20 shares during the last quarter. Cornell Pochily Investment Advisors Inc. grew its position in shares of Northrop Grumman by 0.9% in the third quarter. Cornell Pochily Investment Advisors Inc. now owns 2,141 shares of the aerospace company’s stock valued at $1,131,000 after purchasing an additional 20 shares during the last quarter. Asset Dedication LLC grew its position in shares of Northrop Grumman by 1.0% in the third quarter. Asset Dedication LLC now owns 2,025 shares of the aerospace company’s stock valued at $1,069,000 after purchasing an additional 20 shares during the last quarter. Foundations Investment Advisors LLC increased its stake in shares of Northrop Grumman by 1.4% during the 3rd quarter. Foundations Investment Advisors LLC now owns 1,478 shares of the aerospace company’s stock worth $780,000 after purchasing an additional 20 shares in the last quarter. Finally, PBMares Wealth Management LLC raised its position in shares of Northrop Grumman by 0.5% during the 3rd quarter. PBMares Wealth Management LLC now owns 4,421 shares of the aerospace company’s stock worth $2,335,000 after purchasing an additional 20 shares during the last quarter. 83.40% of the stock is owned by hedge funds and other institutional investors.
Northrop Grumman Stock Performance
NYSE NOC opened at $482.49 on Friday. The company has a debt-to-equity ratio of 1.00, a current ratio of 1.09 and a quick ratio of 0.97. Northrop Grumman Co. has a 1-year low of $418.60 and a 1-year high of $555.57. The firm has a market capitalization of $70.30 billion, a P/E ratio of 29.89, a P/E/G ratio of 0.87 and a beta of 0.35. The business’s 50-day simple moving average is $481.48 and its 200-day simple moving average is $493.38.
Northrop Grumman declared that its board has authorized a share buyback program 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 programs are generally an indication that the company’s leadership believes its shares are undervalued.
Northrop Grumman Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Wednesday, December 18th. Investors 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 yield of 1.71%. Northrop Grumman’s dividend payout ratio is currently 51.05%.
Insider Buying and Selling at Northrop Grumman
In other news, VP Benjamin R. Davies sold 1,156 shares of the stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $532.93, for a total value of $616,067.08. Following the completion of the sale, the vice president now owns 537 shares in the company, valued at approximately $286,183.41. This trade represents a 68.28 % 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 link. Insiders have sold 1,255 shares of company stock valued at $663,859 over the last three months. 0.22% of the stock is owned by company insiders.
Analyst Upgrades and Downgrades
A number of equities research analysts have commented on the company. Barclays lowered their target price 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. UBS Group lifted their price objective on Northrop Grumman from $614.00 to $643.00 and gave the stock a “buy” rating in a research report on Friday, October 25th. StockNews.com lowered shares of Northrop Grumman from a “strong-buy” rating to a “buy” rating in a report on Saturday, January 11th. TD Cowen upgraded shares of Northrop Grumman to a “hold” rating in a report on Tuesday, October 8th. Finally, Susquehanna cut their price objective on shares of Northrop Grumman from $625.00 to $557.00 and set a “positive” rating for the company in a research report on Wednesday, January 8th. Nine investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat, Northrop Grumman currently has a consensus rating of “Hold” and an average price target of $550.94.
Check Out Our Latest Research Report on NOC
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.
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