Key Financial Inc Acquires 32 Shares of Northrop Grumman Co. (NYSE:NOC)

Key Financial Inc increased its holdings in shares of Northrop Grumman Co. (NYSE:NOC) by 43.8% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 105 shares of the aerospace company’s stock after acquiring an additional 32 shares during the period. Key Financial Inc’s holdings in Northrop Grumman were worth $49,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of NOC. Two Sigma Advisers LP grew its position in Northrop Grumman by 102.6% during the 3rd quarter. Two Sigma Advisers LP now owns 735,600 shares of the aerospace company’s stock worth $388,448,000 after acquiring an additional 372,500 shares during the last quarter. Franklin Resources Inc. boosted its position in Northrop Grumman by 6.2% in the 3rd quarter. Franklin Resources Inc. now owns 2,426,270 shares of the aerospace company’s stock valued at $1,315,729,000 after buying an additional 141,816 shares during the last quarter. Wedge Capital Management L L P NC bought a new position in Northrop Grumman in the 4th quarter valued at $66,171,000. International Assets Investment Management LLC bought a new position in Northrop Grumman in the 4th quarter valued at $622,000. Finally, National Bank of Canada FI boosted its position in Northrop Grumman by 154.7% in the 3rd quarter. National Bank of Canada FI now owns 157,601 shares of the aerospace company’s stock valued at $83,224,000 after buying an additional 95,724 shares during the last quarter. 83.40% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the company. Wolfe Research upgraded Northrop Grumman from an “underperform” rating to a “peer perform” rating in a research report on Monday, February 3rd. UBS Group decreased their price objective on Northrop Grumman from $579.00 to $558.00 and set a “buy” rating on the stock in a research report on Friday, January 31st. Truist Financial assumed coverage on Northrop Grumman in a research report on Tuesday, January 14th. They issued a “buy” rating and a $544.00 price objective on the stock. Royal Bank of Canada increased their price objective on Northrop Grumman from $500.00 to $540.00 and gave the company a “sector perform” rating in a research report on Friday, October 25th. Finally, Wells Fargo & Company reduced their price target on Northrop Grumman from $595.00 to $574.00 and set an “overweight” rating on the stock in a research report on Friday, January 31st. Nine analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $544.56.

Northrop Grumman Stock Performance

NOC stock opened at $441.00 on Wednesday. The business’s 50-day moving average price is $473.36 and its two-hundred day moving average price is $498.62. The company has a current ratio of 1.01, a quick ratio of 0.91 and a debt-to-equity ratio of 0.96. The firm has a market cap of $63.84 billion, a PE ratio of 15.56, a P/E/G ratio of 3.73 and a beta of 0.35. Northrop Grumman Co. has a 1-year low of $418.60 and a 1-year high of $555.57.

Northrop Grumman (NYSE:NOC) last posted its earnings results 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%. As a group, research analysts forecast that Northrop Grumman Co. will post 28.05 earnings per share for the current year.

Northrop Grumman Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, March 19th. Stockholders of record on Monday, March 3rd will be issued a $2.06 dividend. This represents a $8.24 dividend on an annualized basis and a dividend yield of 1.87%. Northrop Grumman’s dividend payout ratio (DPR) is 29.08%.

Northrop Grumman announced that its Board of Directors has approved a share repurchase plan on Wednesday, December 11th that permits the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization permits the aerospace company to repurchase up to 4.3% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board of directors believes its stock is undervalued.

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.