Northrop Grumman Co. (NYSE:NOC) Shares Acquired by Foundations Investment Advisors LLC

Foundations Investment Advisors LLC boosted its position in Northrop Grumman Co. (NYSE:NOC) by 8.5% in the fourth quarter, HoldingsChannel.com reports. The firm owned 1,603 shares of the aerospace company’s stock after purchasing an additional 125 shares during the quarter. Foundations Investment Advisors LLC’s holdings in Northrop Grumman were worth $752,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Parsons Capital Management Inc. RI grew its holdings in Northrop Grumman by 1,316.9% during the fourth quarter. Parsons Capital Management Inc. RI now owns 16,139 shares of the aerospace company’s stock worth $7,574,000 after acquiring an additional 15,000 shares during the period. Mount Yale Investment Advisors LLC grew its stake in shares of Northrop Grumman by 1,284.4% in the 4th quarter. Mount Yale Investment Advisors LLC now owns 7,351 shares of the aerospace company’s stock worth $3,450,000 after purchasing an additional 6,820 shares during the last quarter. Pacer Advisors Inc. grew its stake in shares of Northrop Grumman by 43.7% in the 4th quarter. Pacer Advisors Inc. now owns 14,727 shares of the aerospace company’s stock worth $6,911,000 after purchasing an additional 4,477 shares during the last quarter. Blue Trust Inc. lifted its stake in Northrop Grumman by 2.7% during the fourth quarter. Blue Trust Inc. now owns 3,669 shares of the aerospace company’s stock valued at $1,722,000 after purchasing an additional 96 shares during the last quarter. Finally, Narwhal Capital Management boosted its holdings in Northrop Grumman by 0.6% during the fourth quarter. Narwhal Capital Management now owns 18,937 shares of the aerospace company’s stock worth $8,887,000 after buying an additional 119 shares in the last quarter. 83.40% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, VP Benjamin R. Davies sold 1,156 shares of the business’s stock in a transaction dated 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 owns 537 shares of the company’s stock, valued at approximately $286,183.41. The trade was a 68.28 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders sold 1,255 shares of company stock valued at $663,859 over the last 90 days. 0.22% of the stock is currently owned by company insiders.

Northrop Grumman Trading Down 1.0 %

NYSE:NOC opened at $481.56 on Thursday. The company has a market capitalization of $70.16 billion, a P/E ratio of 29.84, a P/E/G ratio of 0.95 and a beta of 0.35. The stock’s 50 day moving average price is $478.87 and its 200 day moving average price is $497.74. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.97 and a current ratio of 1.09. Northrop Grumman Co. has a 52 week low of $418.60 and a 52 week high of $555.57.

Northrop Grumman announced that its Board of Directors has authorized a share repurchase plan on Wednesday, December 11th that authorizes the company to repurchase $3.00 billion in shares. This repurchase authorization authorizes the aerospace company to purchase up to 4.3% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s board of directors believes its shares are undervalued.

Northrop Grumman Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, December 18th. Shareholders of record on Monday, December 2nd were given a $2.06 dividend. The ex-dividend date of this dividend was Monday, December 2nd. This represents a $8.24 dividend on an annualized basis and a dividend yield of 1.71%. Northrop Grumman’s dividend payout ratio is currently 51.05%.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. Royal Bank of Canada raised their price objective on Northrop Grumman from $500.00 to $540.00 and gave the stock a “sector perform” rating in a research note on Friday, October 25th. Truist Financial initiated coverage on Northrop Grumman in a research note on Tuesday, January 14th. They issued a “buy” rating and a $544.00 price target on the stock. StockNews.com upgraded shares of Northrop Grumman from a “buy” rating to a “strong-buy” rating in a report on Sunday, January 19th. JPMorgan Chase & Co. boosted their price target on shares of Northrop Grumman from $500.00 to $560.00 and gave the company a “neutral” rating in a report on Monday, October 14th. Finally, Citigroup raised shares of Northrop Grumman from a “neutral” rating to a “buy” rating and set a $587.00 price objective for the company in a research note on Tuesday, January 21st. Eight investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Northrop Grumman presently has an average rating of “Moderate Buy” and a consensus price target of $550.94.

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.