Cutter & CO Brokerage Inc. Has $3.34 Million Holdings in Northrop Grumman Co. (NYSE:NOC)

Cutter & CO Brokerage Inc. lessened its stake in Northrop Grumman Co. (NYSE:NOC) by 0.7% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,115 shares of the aerospace company’s stock after selling 50 shares during the quarter. Northrop Grumman comprises approximately 0.8% of Cutter & CO Brokerage Inc.’s investment portfolio, making the stock its 29th biggest holding. Cutter & CO Brokerage Inc.’s holdings in Northrop Grumman were worth $3,339,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. RPg Family Wealth Advisory LLC acquired a new stake in Northrop Grumman in the 3rd quarter valued at about $31,000. FSA Wealth Management LLC acquired a new stake in Northrop Grumman in the 3rd quarter valued at about $36,000. Albion Financial Group UT acquired a new stake in Northrop Grumman in the 4th quarter valued at about $33,000. Catalyst Capital Advisors LLC acquired a new stake in Northrop Grumman in the 3rd quarter valued at about $40,000. Finally, Modus Advisors LLC acquired a new stake in Northrop Grumman in the 4th quarter valued at about $38,000. Institutional investors and hedge funds own 83.40% of the company’s stock.

Northrop Grumman Stock Up 2.5 %

Northrop Grumman stock opened at $461.03 on Wednesday. The company’s 50 day simple moving average is $469.99 and its 200 day simple moving average is $497.05. 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 $66.74 billion, a price-to-earnings ratio of 16.27, a PEG ratio of 3.73 and a beta of 0.35. The company has a debt-to-equity ratio of 0.96, a current ratio of 1.01 and a quick ratio of 0.91.

Northrop Grumman (NYSE:NOC) last announced its earnings results on Thursday, January 30th. The aerospace company reported $6.39 EPS for the quarter, topping the consensus estimate of $6.27 by $0.12. Northrop Grumman had a net margin of 10.17% and a return on equity of 26.24%. As a group, sell-side analysts anticipate that Northrop Grumman Co. will post 28.05 EPS for the current year.

Northrop Grumman announced that its board has initiated a share buyback plan on Wednesday, December 11th that allows the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization allows the aerospace company to purchase up to 4.3% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s leadership believes its shares are undervalued.

Northrop Grumman Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, March 19th. Shareholders of record on Monday, March 3rd will be issued a dividend of $2.06 per share. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $8.24 annualized dividend and a yield of 1.79%. Northrop Grumman’s dividend payout ratio (DPR) is currently 29.08%.

Insiders Place Their Bets

In other Northrop Grumman news, VP Benjamin R. Davies sold 192 shares of the firm’s stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $429.08, for a total transaction of $82,383.36. Following the sale, the vice president now directly owns 709 shares in the company, valued at approximately $304,217.72. This trade represents a 21.31 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. In the last three months, insiders have sold 291 shares of company stock worth $129,184. Company insiders own 0.22% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have weighed in on the stock. UBS Group lowered their price objective 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 note on Monday, February 3rd. Truist Financial initiated 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 on the stock. Citigroup raised their target price on shares of Northrop Grumman from $587.00 to $591.00 and gave the company a “buy” rating in a research note on Monday, February 10th. Finally, Wells Fargo & Company reduced their target price on shares of Northrop Grumman from $595.00 to $574.00 and set an “overweight” rating on the stock in a research note on Friday, January 31st. Nine analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $544.56.

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.