Atria Wealth Solutions Inc. lowered its position in Northrop Grumman Co. (NYSE:NOC - Free Report) by 29.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,900 shares of the aerospace company's stock after selling 4,589 shares during the period. Atria Wealth Solutions Inc.'s holdings in Northrop Grumman were worth $5,115,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also modified their holdings of the company. RPg Family Wealth Advisory LLC acquired a new stake in shares of Northrop Grumman in the 3rd quarter worth approximately $31,000. Albion Financial Group UT acquired a new stake in shares of Northrop Grumman in the 4th quarter worth approximately $33,000. FSA Wealth Management LLC acquired a new stake in shares of Northrop Grumman in the 3rd quarter worth approximately $36,000. Modus Advisors LLC acquired a new stake in shares of Northrop Grumman in the 4th quarter worth approximately $38,000. Finally, Catalyst Capital Advisors LLC acquired a new stake in shares of Northrop Grumman in the 3rd quarter worth approximately $40,000. Institutional investors and hedge funds own 83.40% of the company's stock.
Analysts Set New Price Targets
NOC has been the topic of a number of research reports. StockNews.com cut Northrop Grumman from a "strong-buy" rating to a "buy" rating in a report on Monday, February 3rd. UBS Group reduced their target price on Northrop Grumman from $579.00 to $558.00 and set a "buy" rating on the stock in a research note on Friday, January 31st. Truist Financial started coverage on Northrop Grumman in a research note on Tuesday, January 14th. They issued a "buy" rating and a $544.00 target price on the stock. Susquehanna reduced their target price on Northrop Grumman from $625.00 to $557.00 and set a "positive" rating on the stock in a research note on Wednesday, January 8th. Finally, Wells Fargo & Company reduced their target price on 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 investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $544.56.
Read Our Latest Report on NOC
Northrop Grumman Trading Up 1.2 %
Shares of NOC stock traded up $5.01 on Thursday, reaching $438.46. 1,218,796 shares of the stock were exchanged, compared to its average volume of 936,566. The stock has a market cap of $63.47 billion, a P/E ratio of 15.47, a price-to-earnings-growth ratio of 3.76 and a beta of 0.35. The company has a quick ratio of 0.91, a current ratio of 1.01 and a debt-to-equity ratio of 0.96. The firm has a 50 day moving average of $472.52 and a two-hundred day moving average of $498.17. Northrop Grumman Co. has a 1-year low of $418.60 and a 1-year high of $555.57.
Northrop Grumman (NYSE:NOC - Get Free Report) last released its quarterly earnings data on Thursday, January 30th. The aerospace company reported $6.39 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, research analysts anticipate that Northrop Grumman Co. will post 28.05 EPS for the current year.
Northrop Grumman announced that its board has approved a share repurchase program on Wednesday, December 11th that permits the company to buyback $3.00 billion in shares. This buyback authorization permits the aerospace company to purchase up to 4.3% of its stock through open market purchases. Stock buyback programs are generally an indication that the company's leadership believes its stock is undervalued.
Northrop Grumman Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 19th. Stockholders 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 dividend on an annualized basis and a dividend yield of 1.88%. Northrop Grumman's payout ratio is 29.08%.
About Northrop Grumman
(
Free Report)
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.
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