Synergy Asset Management LLC Takes $57,000 Position in Northrop Grumman Co. (NYSE:NOC)

Synergy Asset Management LLC acquired a new position in Northrop Grumman Co. (NYSE:NOC) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 121 shares of the aerospace company’s stock, valued at approximately $57,000.

Other large investors have also recently bought and sold shares of the company. NewEdge Advisors LLC boosted its holdings in Northrop Grumman by 23.6% in the second quarter. NewEdge Advisors LLC now owns 10,832 shares of the aerospace company’s stock valued at $4,722,000 after acquiring an additional 2,066 shares during the last quarter. Northwestern Mutual Wealth Management Co. lifted its position in Northrop Grumman by 5.9% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 16,093 shares of the aerospace company’s stock valued at $7,019,000 after purchasing an additional 898 shares during the period. Quarry LP boosted its stake in shares of Northrop Grumman by 1,546.2% in the 2nd quarter. Quarry LP now owns 214 shares of the aerospace company’s stock valued at $93,000 after purchasing an additional 201 shares during the last quarter. Teachers Retirement System of The State of Kentucky increased its stake in Northrop Grumman by 87.8% in the second quarter. Teachers Retirement System of The State of Kentucky now owns 21,802 shares of the aerospace company’s stock valued at $9,505,000 after purchasing an additional 10,192 shares in the last quarter. Finally, Strategic Investment Solutions Inc. IL acquired a new stake in Northrop Grumman in the second quarter worth $92,000. Institutional investors and hedge funds own 83.40% of the company’s stock.

Northrop Grumman Stock Up 0.4 %

Northrop Grumman stock opened at $483.70 on Friday. Northrop Grumman Co. has a fifty-two week low of $418.60 and a fifty-two week high of $555.57. The firm has a market capitalization of $70.48 billion, a PE ratio of 29.97, a P/E/G ratio of 0.95 and a beta of 0.35. The company’s 50-day moving average is $478.66 and its 200-day moving average is $497.63. The company has a debt-to-equity ratio of 1.00, a current ratio of 1.09 and a quick ratio of 0.97.

Northrop Grumman (NYSE:NOC) last released its quarterly earnings data on Thursday, January 30th. The aerospace company reported $6.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.27 by $0.12. Northrop Grumman had a return on equity of 26.57% and a net margin of 5.79%. Sell-side analysts anticipate that Northrop Grumman Co. will post 25.96 earnings per share for the current year.

Northrop Grumman Dividend Announcement

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 dividend of $2.06 per share. The ex-dividend date was Monday, December 2nd. This represents a $8.24 dividend on an annualized basis and a yield of 1.70%. Northrop Grumman’s dividend payout ratio (DPR) is 51.05%.

Northrop Grumman announced that its Board of Directors has authorized a stock repurchase program on Wednesday, December 11th that allows the company to repurchase $3.00 billion in shares. This repurchase authorization allows the aerospace company to buy up to 4.3% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s leadership believes its shares are undervalued.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the stock. Truist Financial assumed coverage on shares of Northrop Grumman in a research report on Tuesday, January 14th. They issued a “buy” rating and a $544.00 price objective for the company. Wells Fargo & Company upgraded Northrop Grumman from an “equal weight” rating to an “overweight” rating and set a $595.00 price objective on the stock in a report on Wednesday, January 8th. Citigroup raised Northrop Grumman from a “neutral” rating to a “buy” rating and set a $587.00 target price for the company in a research note on Tuesday, January 21st. StockNews.com upgraded shares of Northrop Grumman from a “buy” rating to a “strong-buy” rating in a report on Sunday, January 19th. Finally, Susquehanna dropped their price objective on shares of Northrop Grumman from $625.00 to $557.00 and set a “positive” rating on the stock in a report on Wednesday, January 8th. Eight research analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $550.94.

Insider Buying and Selling at Northrop Grumman

In other Northrop Grumman news, VP Benjamin R. Davies sold 1,156 shares of the company’s stock in a transaction on Monday, November 11th. The stock was 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 $286,183.41. This represents a 68.28 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders have sold a total of 1,255 shares of company stock worth $663,859 over the last ninety days. Insiders own 0.22% of the company’s stock.

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.