Avantax Advisory Services Inc. Trims Stock Position in Northrop Grumman Co. (NYSE:NOC)

Avantax Advisory Services Inc. cut its stake in shares of Northrop Grumman Co. (NYSE:NOC - Free Report) by 9.3% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 13,823 shares of the aerospace company's stock after selling 1,421 shares during the period. Avantax Advisory Services Inc.'s holdings in Northrop Grumman were worth $6,487,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in NOC. RPg Family Wealth Advisory LLC purchased a new stake in Northrop Grumman during the 3rd quarter valued at approximately $31,000. Whipplewood Advisors LLC acquired a new position in Northrop Grumman during the 4th quarter worth approximately $31,000. Albion Financial Group UT acquired a new position in Northrop Grumman during the 4th quarter worth approximately $33,000. FSA Wealth Management LLC acquired a new position in Northrop Grumman during the 3rd quarter worth approximately $36,000. Finally, Modus Advisors LLC acquired a new position in Northrop Grumman during the 4th quarter worth approximately $38,000. 83.40% of the stock is owned by hedge funds and other institutional investors.

Northrop Grumman Price Performance

Shares of NYSE:NOC opened at $491.20 on Friday. The business's fifty day moving average price is $471.57 and its two-hundred day moving average price is $494.67. The stock has a market cap of $71.10 billion, a PE ratio of 17.33, a price-to-earnings-growth ratio of 3.73 and a beta of 0.31. 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 Co. has a one year low of $418.60 and a one year high of $555.57.

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Northrop Grumman (NYSE:NOC - Get Free Report) last issued its quarterly earnings results on Thursday, January 30th. The aerospace company reported $6.39 earnings per share 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 EPS for the current fiscal year.

Northrop Grumman Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, March 19th. Shareholders of record on Monday, March 3rd will be paid a dividend of $2.06 per share. This represents a $8.24 dividend on an annualized basis and a dividend yield of 1.68%. The ex-dividend date is Monday, March 3rd. Northrop Grumman's dividend payout ratio is presently 29.08%.

Northrop Grumman declared that its Board of Directors has authorized a stock repurchase program on Wednesday, December 11th that permits the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization permits the aerospace company to purchase up to 4.3% of its shares through open market purchases. Shares repurchase programs are often a sign that the company's management believes its stock is undervalued.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on NOC shares. Wells Fargo & Company boosted their target price on Northrop Grumman from $545.00 to $547.00 and gave the stock an "overweight" rating in a research report on Friday, March 7th. Susquehanna dropped their target price on Northrop Grumman from $625.00 to $557.00 and set a "positive" rating on the stock in a research report on Wednesday, January 8th. Barclays dropped their target price on Northrop Grumman from $550.00 to $500.00 and set an "equal weight" rating on the stock in a research report on Monday, January 6th. Truist Financial initiated coverage on Northrop Grumman in a research report on Tuesday, January 14th. They set a "buy" rating and a $544.00 target price on the stock. Finally, Wolfe Research upgraded Northrop Grumman from an "underperform" rating to a "peer perform" rating in a report on Monday, February 3rd. Nine research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $542.88.

Insiders Place Their Bets

In other Northrop Grumman news, VP Benjamin R. Davies sold 192 shares of the stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $429.08, for a total transaction of $82,383.36. Following the transaction, the vice president now owns 709 shares of the company's stock, valued at $304,217.72. This represents a 21.31 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Kathy J. Warden sold 3,750 shares of the stock in a transaction on Thursday, March 6th. The stock was sold at an average price of $475.65, for a total value of $1,783,687.50. Following the transaction, the chief executive officer now directly owns 212,852 shares in the company, valued at approximately $101,243,053.80. This represents a 1.73 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 4,505 shares of company stock valued at $2,126,405 in the last quarter. 0.22% of the stock is currently owned by company insiders.

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.

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