Verus Capital Partners LLC Grows Stock Position in Northrop Grumman Co. (NYSE:NOC)

Verus Capital Partners LLC boosted its stake in shares of Northrop Grumman Co. (NYSE:NOC) by 0.2% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 16,030 shares of the aerospace company’s stock after purchasing an additional 31 shares during the quarter. Northrop Grumman makes up 0.7% of Verus Capital Partners LLC’s investment portfolio, making the stock its 24th biggest holding. Verus Capital Partners LLC’s holdings in Northrop Grumman were worth $7,523,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Wall Street Analyst Weigh In

Several equities analysts recently commented on the company. Barclays dropped 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. Wolfe Research upgraded Northrop Grumman from an “underperform” rating to a “peer perform” rating in a report on Monday, February 3rd. Truist Financial began coverage on Northrop Grumman in a research report on Tuesday, January 14th. They set a “buy” rating and a $544.00 target price on the stock. Wells Fargo & Company lowered their price target on Northrop Grumman from $574.00 to $545.00 and set an “overweight” rating for the company in a report on Wednesday. Finally, Citigroup raised their price objective on shares of Northrop Grumman from $587.00 to $591.00 and gave the stock a “buy” rating in a report on Monday, February 10th. Nine investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, Northrop Grumman currently has an average rating of “Moderate Buy” and a consensus target price of $542.75.

Insider Activity at Northrop Grumman

In other Northrop Grumman news, VP Benjamin R. Davies sold 192 shares of the firm’s stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $429.08, for a total value of $82,383.36. Following the completion of the sale, the vice president now owns 709 shares of the company’s stock, valued at approximately $304,217.72. This trade represents a 21.31 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have sold a total of 291 shares of company stock worth $129,184 over the last three months. 0.22% of the stock is currently owned by corporate insiders.

Northrop Grumman Price Performance

Shares of NYSE:NOC opened at $459.90 on Friday. Northrop Grumman Co. has a one year low of $418.60 and a one year high of $555.57. The stock has a market capitalization of $66.57 billion, a price-to-earnings ratio of 16.23, a PEG ratio of 3.73 and a beta of 0.35. The company has a 50-day simple moving average of $469.59 and a 200-day simple moving average of $496.50. 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 EPS for the quarter, topping analysts’ consensus estimates of $6.27 by $0.12. Northrop Grumman had a net margin of 10.17% and a return on equity of 26.24%. On average, analysts predict that Northrop Grumman Co. will post 28.05 EPS for the current year.

Northrop Grumman Announces Dividend

The firm 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. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $8.24 annualized dividend and a dividend yield of 1.79%. Northrop Grumman’s dividend payout ratio is currently 29.08%.

Northrop Grumman announced that its Board of Directors has approved a stock buyback plan 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 plans are usually a sign that the company’s leadership believes its shares are 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.