Kovack Advisors Inc. Buys New Stake in Northrop Grumman Co. (NYSE:NOC)

Kovack Advisors Inc. bought a new stake in Northrop Grumman Co. (NYSE:NOC) during the fourth quarter, according to its most recent disclosure with the SEC. The firm bought 539 shares of the aerospace company’s stock, valued at approximately $253,000.

A number of other hedge funds have also recently modified their holdings of the stock. Wellington Management Group LLP boosted its stake in Northrop Grumman by 0.4% during the 3rd quarter. Wellington Management Group LLP now owns 4,140,892 shares of the aerospace company’s stock worth $2,186,681,000 after purchasing an additional 17,596 shares during the period. Geode Capital Management LLC boosted its stake in Northrop Grumman by 0.6% during the 3rd quarter. Geode Capital Management LLC now owns 3,003,360 shares of the aerospace company’s stock worth $1,581,644,000 after purchasing an additional 18,791 shares during the period. Franklin Resources Inc. boosted its stake in Northrop Grumman by 6.2% during the 3rd quarter. Franklin Resources Inc. now owns 2,426,270 shares of the aerospace company’s stock worth $1,315,729,000 after purchasing an additional 141,816 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in Northrop Grumman by 0.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 809,445 shares of the aerospace company’s stock worth $427,444,000 after purchasing an additional 3,211 shares during the period. Finally, Two Sigma Advisers LP boosted its stake 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 purchasing an additional 372,500 shares during the period. 83.40% of the stock is owned by hedge funds and other institutional investors.

Northrop Grumman Stock Up 0.4 %

NOC stock opened at $461.74 on Friday. The company has a market cap of $66.84 billion, a P/E ratio of 16.29, a P/E/G ratio of 3.73 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’s 50-day moving average price is $469.44 and its 200 day moving average price is $496.18. The company has a current ratio of 1.01, a quick ratio of 0.91 and a debt-to-equity ratio of 0.96.

Northrop Grumman (NYSE:NOC) last released 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, research analysts expect that Northrop Grumman Co. will post 28.05 earnings per share for the current fiscal year.

Northrop Grumman Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 19th. Shareholders of record on Monday, March 3rd will be given a dividend of $2.06 per share. This represents a $8.24 dividend on an annualized basis and a yield of 1.78%. The ex-dividend date is Monday, March 3rd. Northrop Grumman’s payout ratio is currently 29.08%.

Northrop Grumman declared that its Board of Directors has initiated a share repurchase program on Wednesday, December 11th that allows the company to buyback $3.00 billion in shares. This buyback authorization allows the aerospace company to buy up to 4.3% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s management believes its stock is undervalued.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on NOC. Argus upgraded shares of Northrop Grumman to a “strong-buy” rating in a research note on Wednesday. UBS Group decreased their price target on shares of Northrop Grumman from $579.00 to $558.00 and set a “buy” rating for the company in a research note on Friday, January 31st. Barclays lowered their target price on shares of 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 raised shares of Northrop Grumman from an “underperform” rating to a “peer perform” rating in a report on Monday, February 3rd. Finally, Truist Financial assumed coverage on shares of Northrop Grumman in a report on Tuesday, January 14th. They issued a “buy” rating and a $544.00 target price on the stock. Nine investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $542.75.

Insiders Place Their Bets

In other Northrop Grumman news, VP Benjamin R. Davies sold 192 shares of Northrop Grumman stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $429.08, for a total transaction of $82,383.36. Following the completion of the transaction, the vice president now owns 709 shares in the company, valued at approximately $304,217.72. The trade was a 21.31 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Over the last quarter, insiders sold 291 shares of company stock worth $129,184. Insiders own 0.22% of the company’s stock.

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.