Ieq Capital LLC Buys 5,402 Shares of Northrop Grumman Co. (NYSE:NOC)

Ieq Capital LLC raised its stake in shares of Northrop Grumman Co. (NYSE:NOC) by 62.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 14,065 shares of the aerospace company’s stock after acquiring an additional 5,402 shares during the period. Ieq Capital LLC’s holdings in Northrop Grumman were worth $6,600,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the company. RPg Family Wealth Advisory LLC bought a new position in shares of Northrop Grumman during the third quarter valued at about $31,000. Albion Financial Group UT purchased a new stake in Northrop Grumman in the 4th quarter valued at about $33,000. FSA Wealth Management LLC bought 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 in the 4th quarter worth approximately $38,000. Finally, Catalyst Capital Advisors LLC bought a new position in shares of Northrop Grumman in the third quarter valued at approximately $40,000. 83.40% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts recently commented on NOC shares. Citigroup lifted their price target on Northrop Grumman from $587.00 to $591.00 and gave the stock a “buy” rating in a report on Monday, February 10th. Barclays lowered their target price on Northrop Grumman from $550.00 to $500.00 and set an “equal weight” rating on the stock in a research note on Monday, January 6th. UBS Group reduced their price target on shares of Northrop Grumman from $579.00 to $558.00 and set a “buy” rating for the company in a research report on Friday, January 31st. Wolfe Research raised shares of Northrop Grumman from an “underperform” rating to a “peer perform” rating in a research report on Monday, February 3rd. Finally, Truist Financial assumed coverage on shares of Northrop Grumman in a research report on Tuesday, January 14th. They set a “buy” rating and a $544.00 target price for the company. Nine analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $544.56.

Northrop Grumman Stock Performance

NYSE:NOC opened at $438.46 on Friday. Northrop Grumman Co. has a 52-week low of $418.60 and a 52-week high of $555.57. The business’s fifty day moving average is $471.66 and its 200 day moving average is $497.75. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.91 and a current ratio of 1.01. The firm has a market cap of $63.47 billion, a price-to-earnings ratio of 15.47, a PEG ratio of 3.76 and a beta of 0.35.

Northrop Grumman (NYSE:NOC) last announced its quarterly earnings results on Thursday, January 30th. The aerospace company reported $6.39 earnings per share 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%. Research analysts predict that Northrop Grumman Co. will post 28.05 EPS for the current year.

Northrop Grumman Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, March 19th. Shareholders of record on Monday, March 3rd will be issued a $2.06 dividend. This represents a $8.24 annualized dividend and a yield of 1.88%. The ex-dividend date of this dividend is Monday, March 3rd. Northrop Grumman’s payout ratio is 29.08%.

Northrop Grumman declared that its board has authorized a stock repurchase program on Wednesday, December 11th that permits the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization permits the aerospace company to buy up to 4.3% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s board believes its stock is undervalued.

About Northrop Grumman

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.