Founders Grove Wealth Partners LLC Purchases New Shares in Northrop Grumman Co. (NYSE:NOC)

Founders Grove Wealth Partners LLC acquired a new position in Northrop Grumman Co. (NYSE:NOC) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 443 shares of the aerospace company’s stock, valued at approximately $208,000.

Other hedge funds have also modified their holdings of the company. RPg Family Wealth Advisory LLC acquired a new position in Northrop Grumman in the 3rd quarter worth about $31,000. FSA Wealth Management LLC acquired a new position in shares of Northrop Grumman during the 3rd quarter worth approximately $36,000. Modus Advisors LLC purchased a new position in shares of Northrop Grumman during the 4th quarter valued at approximately $38,000. Catalyst Capital Advisors LLC acquired a new stake in Northrop Grumman in the 3rd quarter valued at $40,000. Finally, True Wealth Design LLC purchased a new stake in Northrop Grumman in the 3rd quarter worth $53,000. 83.40% of the stock is owned by hedge funds and other institutional investors.

Northrop Grumman Stock Up 0.6 %

Shares of NYSE:NOC opened at $475.37 on Wednesday. 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 business has a fifty day moving average of $483.30 and a two-hundred day moving average of $493.62. The stock has a market cap of $69.26 billion, a P/E ratio of 29.45, a PEG ratio of 0.97 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.

Northrop Grumman (NYSE:NOC) last issued its earnings results on Thursday, October 24th. The aerospace company reported $7.00 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.07 by $0.93. The company had revenue of $10 billion during the quarter, compared to analysts’ expectations of $10.18 billion. Northrop Grumman had a return on equity of 26.57% and a net margin of 5.79%. The firm’s quarterly revenue was up 2.3% on a year-over-year basis. During the same period in the prior year, the business earned $6.18 EPS. On average, research analysts expect that Northrop Grumman Co. will post 25.93 earnings per share for the current year.

Northrop Grumman announced that its board has initiated a share repurchase plan on Wednesday, December 11th that authorizes the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization authorizes the aerospace company to buy up to 4.3% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board of directors believes its shares are undervalued.

Northrop Grumman Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, December 18th. Stockholders of record on Monday, December 2nd were issued a dividend of $2.06 per share. This represents a $8.24 dividend on an annualized basis and a dividend yield of 1.73%. The ex-dividend date was Monday, December 2nd. Northrop Grumman’s dividend payout ratio is presently 51.05%.

Insider Transactions at Northrop Grumman

In other news, VP Benjamin R. Davies sold 1,156 shares of the stock in a transaction on Monday, November 11th. The stock was sold at an average price of $532.93, for a total transaction of $616,067.08. Following the completion of the transaction, the vice president now directly owns 537 shares in the company, valued at approximately $286,183.41. This represents a 68.28 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In the last ninety days, insiders sold 1,255 shares of company stock worth $663,859. 0.22% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several equities analysts have issued reports on NOC shares. Barclays decreased their price objective 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. Susquehanna lowered their price objective on Northrop Grumman from $625.00 to $557.00 and set a “positive” rating on the stock in a report on Wednesday, January 8th. StockNews.com lowered Northrop Grumman from a “strong-buy” rating to a “buy” rating in a research note on Saturday. Truist Financial assumed coverage on Northrop Grumman in a research note on Tuesday. They issued a “buy” rating and a $544.00 price objective for the company. Finally, Royal Bank of Canada increased their price objective on Northrop Grumman from $500.00 to $540.00 and gave the company a “sector perform” rating in a research note on Friday, October 25th. Nine investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $550.94.

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.