Asio Capital LLC Has $2.92 Million Stake in Northrop Grumman Co. (NYSE:NOC)

Asio Capital LLC increased its position in Northrop Grumman Co. (NYSE:NOC) by 0.6% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 6,228 shares of the aerospace company’s stock after buying an additional 35 shares during the period. Asio Capital LLC’s holdings in Northrop Grumman were worth $2,923,000 at the end of the most recent reporting period.

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

Northrop Grumman Price Performance

NOC opened at $497.13 on Friday. The company has a fifty day moving average price of $478.66 and a two-hundred day moving average price of $495.86. The firm has a market capitalization of $72.43 billion, a PE ratio of 30.80, a P/E/G ratio of 0.95 and a beta of 0.35. 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 (NYSE:NOC) last issued its earnings results on Thursday, October 24th. The aerospace company reported $7.00 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $6.07 by $0.93. The firm had revenue of $10 billion for the quarter, compared to analysts’ expectations of $10.18 billion. Northrop Grumman had a return on equity of 26.57% and a net margin of 5.79%. The company’s revenue was up 2.3% compared to the same quarter last year. During the same quarter last year, the business earned $6.18 earnings per share. As a group, analysts anticipate that Northrop Grumman Co. will post 25.96 earnings per share for the current year.

Northrop Grumman Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, December 18th. Shareholders of record on Monday, December 2nd were paid a $2.06 dividend. The ex-dividend date was Monday, December 2nd. This represents a $8.24 dividend on an annualized basis and a yield of 1.66%. Northrop Grumman’s payout ratio is 51.05%.

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 outstanding shares. This repurchase authorization allows the aerospace company to purchase up to 4.3% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s leadership believes its shares are undervalued.

Wall Street Analysts Forecast Growth

NOC has been the topic of several research reports. Royal Bank of Canada boosted their price objective on shares of Northrop Grumman from $500.00 to $540.00 and gave the stock a “sector perform” rating in a report on Friday, October 25th. StockNews.com raised Northrop Grumman from a “buy” rating to a “strong-buy” rating in a report on Sunday, January 19th. UBS Group lifted their price objective on Northrop Grumman from $614.00 to $643.00 and gave the stock a “buy” rating in a report on Friday, October 25th. TD Cowen upgraded Northrop Grumman to a “hold” rating in a research report on Tuesday, October 8th. Finally, Citigroup raised Northrop Grumman from a “neutral” rating to a “buy” rating and set a $587.00 target price for the company in a research report on Tuesday, January 21st. Eight analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Northrop Grumman currently has a consensus rating of “Moderate Buy” and a consensus target price of $550.94.

Insiders Place Their Bets

In related news, VP Benjamin R. Davies sold 1,156 shares of the firm’s stock in a transaction on Monday, November 11th. The shares were sold at an average price of $532.93, for a total transaction of $616,067.08. Following the sale, the vice president now directly owns 537 shares in the company, valued at $286,183.41. This trade represents a 68.28 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders sold 1,255 shares of company stock worth $663,859 over the last ninety days. 0.22% of the stock is currently owned by corporate insiders.

Northrop Grumman 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.