Northrop Grumman Co. (NYSE:NOC) Shares Bought by Ascent Wealth Partners LLC

Ascent Wealth Partners LLC grew its holdings in Northrop Grumman Co. (NYSE:NOC) by 0.7% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 4,822 shares of the aerospace company’s stock after acquiring an additional 35 shares during the period. Ascent Wealth Partners LLC’s holdings in Northrop Grumman were worth $2,263,000 as of its most recent SEC filing.

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

Northrop Grumman Trading Up 2.4 %

NYSE NOC opened at $448.59 on Friday. The stock has a market cap of $64.94 billion, a P/E ratio of 15.83, a price-to-earnings-growth ratio of 3.73 and a beta of 0.35. The stock has a 50 day simple moving average of $471.03 and a two-hundred day simple moving average of $497.52. Northrop Grumman Co. has a fifty-two week low of $418.60 and a fifty-two week high of $555.57. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.91 and a current ratio of 1.01.

Northrop Grumman (NYSE:NOC) last released its quarterly earnings results on Thursday, January 30th. The aerospace company reported $6.39 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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, analysts forecast that Northrop Grumman Co. will post 28.05 earnings per share for the current year.

Northrop Grumman Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 19th. Stockholders of record on Monday, March 3rd will be given a $2.06 dividend. The ex-dividend date is Monday, March 3rd. This represents a $8.24 annualized dividend and a dividend yield of 1.84%. Northrop Grumman’s payout ratio is 29.08%.

Northrop Grumman declared that its board has approved a share repurchase plan on Wednesday, December 11th that allows the company to buyback $3.00 billion in outstanding shares. This buyback authorization allows the aerospace company to reacquire up to 4.3% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s board believes its stock is undervalued.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the stock. Truist Financial initiated coverage on shares of Northrop Grumman in a report on Tuesday, January 14th. They issued a “buy” rating and a $544.00 price objective for the company. Barclays reduced their price target on shares of Northrop Grumman from $550.00 to $500.00 and set an “equal weight” rating for the company in a research report on Monday, January 6th. Susquehanna dropped their price target on shares of Northrop Grumman from $625.00 to $557.00 and set a “positive” rating on the stock in a research note on Wednesday, January 8th. Wolfe Research upgraded shares of Northrop Grumman from an “underperform” rating to a “peer perform” rating in a research note on Monday, February 3rd. Finally, StockNews.com downgraded shares of Northrop Grumman from a “strong-buy” rating to a “buy” rating in a report on Monday, February 3rd. Nine research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, Northrop Grumman currently has an average rating of “Moderate Buy” and an average price target 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.