Stonebridge Financial Group LLC Purchases Shares of 89 Northrop Grumman Co. (NYSE:NOC)

Stonebridge Financial Group LLC purchased a new stake in Northrop Grumman Co. (NYSE:NOC) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 89 shares of the aerospace company’s stock, valued at approximately $42,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Asset Dedication LLC raised its holdings in Northrop Grumman by 1.0% during the 3rd quarter. Asset Dedication LLC now owns 2,025 shares of the aerospace company’s stock worth $1,069,000 after purchasing an additional 20 shares during the last quarter. Foundations Investment Advisors LLC increased its position in shares of Northrop Grumman by 1.4% during the third quarter. Foundations Investment Advisors LLC now owns 1,478 shares of the aerospace company’s stock worth $780,000 after buying an additional 20 shares during the period. PBMares Wealth Management LLC raised its stake in Northrop Grumman by 0.5% during the third quarter. PBMares Wealth Management LLC now owns 4,421 shares of the aerospace company’s stock worth $2,335,000 after buying an additional 20 shares during the last quarter. Hudson Valley Investment Advisors Inc. ADV lifted its holdings in Northrop Grumman by 0.9% in the third quarter. Hudson Valley Investment Advisors Inc. ADV now owns 2,262 shares of the aerospace company’s stock valued at $1,194,000 after buying an additional 20 shares during the period. Finally, Meeder Advisory Services Inc. boosted its position in Northrop Grumman by 0.9% during the third quarter. Meeder Advisory Services Inc. now owns 2,288 shares of the aerospace company’s stock valued at $1,208,000 after acquiring an additional 20 shares during the last quarter. 83.40% of the stock is owned by institutional investors and hedge funds.

Northrop Grumman Price Performance

Shares of NYSE NOC opened at $454.09 on Friday. The stock has a market cap of $65.73 billion, a price-to-earnings ratio of 16.02, a PEG ratio of 3.00 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 fifty-two week low of $418.60 and a fifty-two week high of $555.57. The firm’s 50-day simple moving average is $476.15 and its 200 day simple moving average is $499.78.

Northrop Grumman (NYSE:NOC) last issued its quarterly earnings data on Thursday, January 30th. The aerospace company reported $6.39 earnings per share for the quarter, beating 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, research analysts anticipate that Northrop Grumman Co. will post 27.94 earnings per share for the current fiscal year.

Northrop Grumman announced 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 shares. This buyback authorization authorizes the aerospace company to buy 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 stock is undervalued.

Northrop Grumman Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, December 18th. Shareholders of record on Monday, December 2nd were given a $2.06 dividend. This represents a $8.24 annualized dividend and a yield of 1.81%. The ex-dividend date of this dividend was Monday, December 2nd. Northrop Grumman’s dividend payout ratio is 29.08%.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on NOC shares. Truist Financial began coverage on Northrop Grumman in a research report on Tuesday, January 14th. They issued a “buy” rating and a $544.00 price objective for the company. Royal Bank of Canada lifted their target price on Northrop Grumman from $500.00 to $540.00 and gave the stock a “sector perform” rating in a report on Friday, October 25th. UBS Group cut their price target on Northrop Grumman from $579.00 to $558.00 and set a “buy” rating on the stock in a report on Friday, January 31st. Wolfe Research upgraded shares of Northrop Grumman from an “underperform” rating to a “peer perform” rating in a research note on Monday, February 3rd. Finally, Citigroup increased their target price on shares of Northrop Grumman from $587.00 to $591.00 and gave the stock a “buy” rating in a research note on Monday. Nine analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $544.56.

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.