Rovin Capital UT ADV decreased its stake in Northrop Grumman Co. (NYSE:NOC – Free Report) by 11.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 930 shares of the aerospace company’s stock after selling 122 shares during the period. Rovin Capital UT ADV’s holdings in Northrop Grumman were worth $436,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also modified their holdings of NOC. RPg Family Wealth Advisory LLC bought a new stake in Northrop Grumman in the 3rd quarter valued at $31,000. FSA Wealth Management LLC acquired a new position in shares of Northrop Grumman during the third quarter valued at about $36,000. Modus Advisors LLC bought a new stake in shares of Northrop Grumman in the fourth quarter valued at about $38,000. Catalyst Capital Advisors LLC acquired a new stake in Northrop Grumman during the third quarter worth about $40,000. Finally, True Wealth Design LLC bought a new position in Northrop Grumman during the third quarter valued at about $53,000. Institutional investors and hedge funds own 83.40% of the company’s stock.
Northrop Grumman Stock Down 0.7 %
Shares of NYSE:NOC opened at $472.19 on Thursday. The company has a quick ratio of 0.97, a current ratio of 1.09 and a debt-to-equity ratio of 1.00. The firm has a market cap of $68.80 billion, a P/E ratio of 29.26, a P/E/G ratio of 0.87 and a beta of 0.35. Northrop Grumman Co. has a 12 month low of $418.60 and a 12 month high of $555.57. The company’s 50-day moving average price is $483.30 and its two-hundred day moving average price is $493.62.
Northrop Grumman declared that its board has initiated a stock buyback program on Wednesday, December 11th that authorizes the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization authorizes the aerospace company to repurchase up to 4.3% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s leadership believes its shares are undervalued.
Northrop Grumman Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Wednesday, December 18th. Investors of record on Monday, December 2nd were issued a $2.06 dividend. This represents a $8.24 annualized dividend and a yield of 1.75%. The ex-dividend date was Monday, December 2nd. Northrop Grumman’s dividend payout ratio is 51.05%.
Insider Buying and Selling
In other Northrop Grumman news, VP Benjamin R. Davies sold 1,156 shares of the firm’s stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $532.93, for a total value of $616,067.08. Following the transaction, the vice president now directly owns 537 shares of the company’s stock, valued at approximately $286,183.41. This trade represents a 68.28 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders sold a total of 1,255 shares of company stock worth $663,859 over the last three months. 0.22% of the stock is currently owned by company insiders.
Wall Street Analyst Weigh In
Several analysts have recently weighed in on NOC shares. Citigroup lifted their price objective on Northrop Grumman from $521.00 to $587.00 and gave the stock a “neutral” rating in a report on Thursday, October 10th. StockNews.com downgraded shares of Northrop Grumman from a “strong-buy” rating to a “buy” rating in a research note on Saturday, January 11th. UBS Group increased their price objective on shares of Northrop Grumman from $614.00 to $643.00 and gave the company a “buy” rating in a research note on Friday, October 25th. Barclays reduced their price objective on shares of Northrop Grumman from $550.00 to $500.00 and set an “equal weight” rating for the company in a report on Monday, January 6th. Finally, Truist Financial started coverage on shares of Northrop Grumman in a research note on Tuesday. They issued a “buy” rating and a $544.00 target price on the stock. Nine research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $550.94.
View Our Latest Stock Analysis on Northrop Grumman
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.
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