Strategic Blueprint LLC Buys 103 Shares of Northrop Grumman Co. (NYSE:NOC)

Strategic Blueprint LLC increased its position in Northrop Grumman Co. (NYSE:NOC) by 15.9% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 750 shares of the aerospace company’s stock after purchasing an additional 103 shares during the period. Strategic Blueprint LLC’s holdings in Northrop Grumman were worth $352,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. RPg Family Wealth Advisory LLC purchased a new stake in shares of Northrop Grumman during the third quarter valued at approximately $31,000. Albion Financial Group UT purchased a new stake in Northrop Grumman during the 4th quarter valued at $33,000. FSA Wealth Management LLC bought a new stake in shares of Northrop Grumman in the 3rd quarter worth $36,000. Modus Advisors LLC purchased a new position in shares of Northrop Grumman in the fourth quarter worth $38,000. Finally, Catalyst Capital Advisors LLC bought a new position in shares of Northrop Grumman during the third quarter valued at $40,000. 83.40% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, VP Benjamin R. Davies sold 1,156 shares of the business’s stock in a transaction on Monday, November 11th. The shares were sold at an average price of $532.93, for a total value of $616,067.08. Following 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders sold 1,255 shares of company stock worth $663,859 in the last three months. 0.22% of the stock is owned by company insiders.

Analyst Ratings Changes

Several equities research analysts recently commented on the company. Truist Financial started coverage on Northrop Grumman in a report on Tuesday, January 14th. They issued a “buy” rating and a $544.00 price objective for the company. JPMorgan Chase & Co. boosted their price objective 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. Wells Fargo & Company cut their target price on shares of Northrop Grumman from $595.00 to $574.00 and set an “overweight” rating for the company in a research report on Friday. Barclays lowered their price target on Northrop Grumman from $550.00 to $500.00 and set an “equal weight” rating on the stock in a report on Monday, January 6th. Finally, TD Cowen raised Northrop Grumman to a “hold” rating in a report on Tuesday, October 8th. Eight analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $544.31.

Northrop Grumman Stock Performance

NOC opened at $486.97 on Friday. The company has a 50 day simple moving average of $478.40 and a two-hundred day simple moving average of $497.53. The company has a debt-to-equity ratio of 1.00, a current ratio of 1.09 and a quick ratio of 0.97. The firm has a market cap of $70.95 billion, a P/E ratio of 30.17, a PEG ratio of 0.91 and a beta of 0.35. Northrop Grumman Co. has a 1-year low of $418.60 and a 1-year high of $555.57.

Northrop Grumman (NYSE:NOC) last issued its earnings results on Thursday, January 30th. The aerospace company reported $6.39 earnings per share for the quarter, topping the consensus estimate of $6.27 by $0.12. Northrop Grumman had a net margin of 5.79% and a return on equity of 26.57%. Equities analysts forecast that Northrop Grumman Co. will post 25.96 earnings per share for the current fiscal year.

Northrop Grumman announced that its Board of Directors has approved a stock repurchase program on Wednesday, December 11th that authorizes the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization authorizes the aerospace company to reacquire up to 4.3% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s leadership believes its shares are undervalued.

Northrop Grumman Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, December 18th. Investors of record on Monday, December 2nd were issued 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 yield of 1.69%. Northrop Grumman’s dividend payout ratio is presently 51.05%.

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.