Calamos Wealth Management LLC Raises Holdings in Northrop Grumman Co. (NYSE:NOC)

Calamos Wealth Management LLC grew its holdings in Northrop Grumman Co. (NYSE:NOC) by 3.5% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 1,172 shares of the aerospace company’s stock after acquiring an additional 40 shares during the quarter. Calamos Wealth Management LLC’s holdings in Northrop Grumman were worth $550,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. RPg Family Wealth Advisory LLC acquired a new position in Northrop Grumman in the 3rd quarter valued at about $31,000. Albion Financial Group UT acquired a new stake in shares of Northrop Grumman during the 4th quarter valued at approximately $33,000. FSA Wealth Management LLC purchased a new stake in Northrop Grumman during the third quarter worth $36,000. Modus Advisors LLC purchased a new position in Northrop Grumman during the 4th quarter valued at about $38,000. Finally, Catalyst Capital Advisors LLC purchased a new position in shares of Northrop Grumman during the 3rd quarter worth approximately $40,000. Institutional investors and hedge funds own 83.40% of the company’s stock.

Wall Street Analysts Forecast Growth

NOC has been the topic of a number of recent research reports. Barclays reduced 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. StockNews.com lowered shares of Northrop Grumman from a “strong-buy” rating to a “buy” rating in a report on Monday. JPMorgan Chase & Co. raised their target price on Northrop Grumman from $500.00 to $560.00 and gave the company a “neutral” rating in a report on Monday, October 14th. Truist Financial started 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. Finally, TD Cowen upgraded shares of Northrop Grumman to a “hold” rating in a research note on Tuesday, October 8th. Nine research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $544.31.

Insider Activity

In other Northrop Grumman news, VP Benjamin R. Davies sold 1,156 shares of Northrop Grumman stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $532.93, for a total value of $616,067.08. Following the sale, the vice president now owns 537 shares of the company’s stock, valued at $286,183.41. This trade represents a 68.28 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders have sold 1,222 shares of company stock worth $647,025 in the last 90 days. Corporate insiders own 0.22% of the company’s stock.

Northrop Grumman Price Performance

Northrop Grumman stock opened at $482.79 on Wednesday. The company has a market capitalization of $69.89 billion, a PE ratio of 17.04, a price-to-earnings-growth ratio of 0.91 and a beta of 0.35. Northrop Grumman Co. has a one year low of $418.60 and a one year high of $555.57. The company has a debt-to-equity ratio of 0.96, a current ratio of 1.01 and a quick ratio of 0.91. The business has a 50 day simple moving average of $478.26 and a 200 day simple moving average of $499.10.

Northrop Grumman (NYSE:NOC) last issued its quarterly earnings results 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 26.24% and a net margin of 10.17%. On average, sell-side analysts forecast that Northrop Grumman Co. will post 28.04 EPS for the current fiscal year.

Northrop Grumman Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, December 18th. Investors of record on Monday, December 2nd were paid a dividend of $2.06 per share. This represents a $8.24 annualized dividend and a yield of 1.71%. The ex-dividend date of this dividend was Monday, December 2nd. Northrop Grumman’s payout ratio is presently 29.08%.

Northrop Grumman declared that its Board of Directors has approved a stock repurchase plan on Wednesday, December 11th that authorizes the company to buyback $3.00 billion in shares. This buyback authorization authorizes the aerospace company to purchase up to 4.3% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s board believes its stock is undervalued.

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.