Northrop Grumman Co. (NYSE:NOC) Stock Position Lifted by Golden State Equity Partners

Golden State Equity Partners boosted its stake in Northrop Grumman Co. (NYSE:NOC) by 170.9% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,016 shares of the aerospace company’s stock after buying an additional 641 shares during the quarter. Golden State Equity Partners’ holdings in Northrop Grumman were worth $477,000 at the end of the most recent quarter.

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

Insider Activity

In related news, VP Benjamin R. Davies sold 1,156 shares of the company’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $532.93, for a total value of $616,067.08. Following the sale, the vice president now 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 transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In the last 90 days, insiders sold 1,222 shares of company stock worth $647,025. 0.22% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several analysts have commented on NOC shares. Royal Bank of Canada boosted their target price on shares of Northrop Grumman from $500.00 to $540.00 and gave the stock a “sector perform” rating in a research report on Friday, October 25th. Wells Fargo & Company decreased their price objective on shares of Northrop Grumman from $595.00 to $574.00 and set an “overweight” rating for the company in a report on Friday. Truist Financial assumed coverage on Northrop Grumman in a report on Tuesday, January 14th. They set a “buy” rating and a $544.00 target price on the stock. StockNews.com downgraded Northrop Grumman from a “strong-buy” rating to a “buy” rating in a research note on Monday. Finally, UBS Group lowered their price objective on Northrop Grumman from $579.00 to $558.00 and set a “buy” rating on the stock in a report on Friday. Nine analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $544.31.

Northrop Grumman Stock Performance

NYSE:NOC opened at $487.87 on Tuesday. Northrop Grumman Co. has a 52-week low of $418.60 and a 52-week high of $555.57. The company has a market cap of $70.62 billion, a price-to-earnings ratio of 17.21, a PEG ratio of 0.91 and a beta of 0.35. The firm’s 50-day moving average is $478.20 and its 200-day moving average is $498.76. 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 (NYSE:NOC) last announced its quarterly earnings data on Thursday, January 30th. The aerospace company reported $6.39 earnings per share 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%. Equities research analysts anticipate that Northrop Grumman Co. will post 28.04 earnings per share for the current year.

Northrop Grumman announced that its board has authorized a share repurchase plan on Wednesday, December 11th that authorizes the company to buyback $3.00 billion in outstanding 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 typically a sign that the company’s management believes its shares are undervalued.

Northrop Grumman Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, December 18th. Shareholders of record on Monday, December 2nd were issued a $2.06 dividend. This represents a $8.24 annualized dividend and a yield of 1.69%. The ex-dividend date of this dividend was Monday, December 2nd. Northrop Grumman’s dividend payout ratio (DPR) is presently 29.08%.

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.