Talbot Financial LLC Acquires 707 Shares of Northrop Grumman Co. (NYSE:NOC)

Talbot Financial LLC lifted its holdings in shares of Northrop Grumman Co. (NYSE:NOC) by 2.8% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 25,696 shares of the aerospace company’s stock after purchasing an additional 707 shares during the period. Northrop Grumman comprises approximately 1.4% of Talbot Financial LLC’s investment portfolio, making the stock its 26th largest holding. Talbot Financial LLC’s holdings in Northrop Grumman were worth $12,059,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in NOC. Ashton Thomas Private Wealth LLC purchased a new stake in Northrop Grumman in the 2nd quarter worth about $61,000. BOKF NA grew its holdings in Northrop Grumman by 11.2% during the 2nd quarter. BOKF NA now owns 3,779 shares of the aerospace company’s stock valued at $1,647,000 after buying an additional 381 shares in the last quarter. Meeder Asset Management Inc. grew its holdings in Northrop Grumman by 245.5% during the 2nd quarter. Meeder Asset Management Inc. now owns 76 shares of the aerospace company’s stock valued at $33,000 after buying an additional 54 shares in the last quarter. Federated Hermes Inc. grew its holdings in Northrop Grumman by 24.3% during the 2nd quarter. Federated Hermes Inc. now owns 2,387 shares of the aerospace company’s stock valued at $1,041,000 after buying an additional 467 shares in the last quarter. Finally, Fiduciary Group LLC lifted its position in Northrop Grumman by 7.0% in the 2nd quarter. Fiduciary Group LLC now owns 763 shares of the aerospace company’s stock worth $333,000 after buying an additional 50 shares during the last quarter. 83.40% of the stock is currently owned by institutional investors.

Northrop Grumman Stock Up 3.1 %

Shares of NYSE NOC traded up $14.42 during trading on Monday, reaching $473.11. The company had a trading volume of 494,447 shares, compared to its average volume of 719,196. Northrop Grumman Co. has a 12-month low of $418.60 and a 12-month high of $555.57. The stock has a market cap of $68.93 billion, a PE ratio of 29.31, a P/E/G ratio of 0.97 and a beta of 0.35. The business’s 50-day moving average is $484.74 and its 200 day moving average is $493.07. The company has a quick ratio of 0.97, a current ratio of 1.09 and a debt-to-equity ratio of 1.00.

Northrop Grumman (NYSE:NOC) last announced its quarterly earnings results on Thursday, October 24th. The aerospace company reported $7.00 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $6.07 by $0.93. The firm had revenue of $10 billion for the quarter, compared to the consensus estimate of $10.18 billion. Northrop Grumman had a return on equity of 26.57% and a net margin of 5.79%. The company’s quarterly revenue was up 2.3% on a year-over-year basis. During the same period in the prior year, the company posted $6.18 earnings per share. As a group, equities analysts forecast that Northrop Grumman Co. will post 25.93 earnings per share for the current fiscal year.

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

Northrop Grumman Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, December 18th. Shareholders of record on Monday, December 2nd were issued a $2.06 dividend. This represents a $8.24 dividend on an annualized basis and a yield of 1.74%. The ex-dividend date of this dividend was Monday, December 2nd. Northrop Grumman’s dividend payout ratio is 51.05%.

Insider Buying and Selling at Northrop Grumman

In other Northrop Grumman news, VP Benjamin R. Davies sold 1,156 shares of the stock in a transaction dated Monday, November 11th. The stock was 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. This represents a 68.28 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Over the last 90 days, insiders have sold 1,255 shares of company stock valued at $663,859. 0.22% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of analysts recently weighed in on the company. JPMorgan Chase & Co. boosted their target price on Northrop Grumman from $500.00 to $560.00 and gave the stock a “neutral” rating in a research report on Monday, October 14th. StockNews.com downgraded Northrop Grumman from a “strong-buy” rating to a “buy” rating in a research report on Saturday. Susquehanna lowered their price objective on Northrop Grumman from $625.00 to $557.00 and set a “positive” rating for the company in a research report on Wednesday, January 8th. TD Cowen upgraded Northrop Grumman to a “hold” rating in a research report on Tuesday, October 8th. Finally, Royal Bank of Canada boosted their price objective on Northrop Grumman from $500.00 to $540.00 and gave the company a “sector perform” rating in a research report on Friday, October 25th. Nine equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $551.40.

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.