Northrop Grumman Co. (NYSE:NOC) Shares Bought by Moran Wealth Management LLC

Moran Wealth Management LLC increased its position in Northrop Grumman Co. (NYSE:NOC) by 7.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 53,064 shares of the aerospace company’s stock after acquiring an additional 3,633 shares during the period. Northrop Grumman makes up about 0.8% of Moran Wealth Management LLC’s investment portfolio, making the stock its 27th biggest position. Moran Wealth Management LLC’s holdings in Northrop Grumman were worth $24,902,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the company. RPg Family Wealth Advisory LLC acquired a new stake in Northrop Grumman in the third quarter valued at $31,000. Whipplewood Advisors LLC acquired a new stake in Northrop Grumman in the 4th quarter valued at about $31,000. Albion Financial Group UT acquired a new stake in Northrop Grumman in the 4th quarter valued at about $33,000. FSA Wealth Management LLC purchased a new position in Northrop Grumman during the 3rd quarter valued at about $36,000. Finally, Modus Advisors LLC acquired a new position in Northrop Grumman during the fourth quarter worth about $38,000. 83.40% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have recently weighed in on NOC. Wolfe Research raised shares of Northrop Grumman from an “underperform” rating to a “peer perform” rating in a research note on Monday, February 3rd. Wells Fargo & Company raised their price target on Northrop Grumman from $545.00 to $547.00 and gave the stock an “overweight” rating in a research report on Friday. Susquehanna reduced their price objective on Northrop Grumman from $625.00 to $557.00 and set a “positive” rating on the stock in a research report on Wednesday, January 8th. Argus upgraded Northrop Grumman to a “strong-buy” rating in a research report on Wednesday, February 26th. Finally, Truist Financial assumed coverage on shares of Northrop Grumman in a research note on Tuesday, January 14th. They issued a “buy” rating and a $544.00 target price for the company. Nine analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Northrop Grumman has a consensus rating of “Moderate Buy” and a consensus target price of $542.88.

Insider Buying and Selling

In other news, CEO Kathy J. Warden sold 3,750 shares of the firm’s stock in a transaction on Thursday, March 6th. The shares were sold at an average price of $475.65, for a total value of $1,783,687.50. Following the transaction, the chief executive officer now owns 212,852 shares of the company’s stock, valued at approximately $101,243,053.80. This trade represents a 1.73 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Benjamin R. Davies sold 464 shares of Northrop Grumman stock in a transaction on Friday, February 28th. The shares were sold at an average price of $460.75, for a total transaction of $213,788.00. Following the transaction, the vice president now owns 245 shares in the company, valued at $112,883.75. The trade was a 65.44 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 4,505 shares of company stock valued at $2,126,405. 0.22% of the stock is currently owned by corporate insiders.

Northrop Grumman Stock Up 2.5 %

Shares of NOC opened at $487.22 on Monday. Northrop Grumman Co. has a fifty-two week low of $418.60 and a fifty-two week high of $555.57. The company’s fifty day moving average is $469.88 and its two-hundred day moving average is $495.03. The firm has a market cap of $70.53 billion, a PE ratio of 17.19, a price-to-earnings-growth ratio of 3.73 and a beta of 0.31. The company has a quick ratio of 0.91, a current ratio of 1.01 and a debt-to-equity ratio of 0.96.

Northrop Grumman (NYSE:NOC) last issued its earnings results on Thursday, January 30th. The aerospace company reported $6.39 earnings per share for the quarter, beating analysts’ consensus estimates of $6.27 by $0.12. Northrop Grumman had a return on equity of 26.24% and a net margin of 10.17%. Analysts forecast that Northrop Grumman Co. will post 28.05 earnings per share for the current year.

Northrop Grumman Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 19th. Investors 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 1.69%. The ex-dividend date is Monday, March 3rd. Northrop Grumman’s dividend payout ratio (DPR) is presently 29.08%.

Northrop Grumman declared that its board has approved a stock repurchase program on Wednesday, December 11th that authorizes the company to buyback $3.00 billion in outstanding shares. This buyback authorization authorizes the aerospace company to purchase up to 4.3% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board 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.