Empowered Funds LLC boosted its holdings in shares of Northrop Grumman Co. (NYSE:NOC - Free Report) by 21.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,196 shares of the aerospace company's stock after buying an additional 2,193 shares during the period. Empowered Funds LLC's holdings in Northrop Grumman were worth $5,723,000 as of its most recent SEC filing.
Other institutional investors have also recently bought and sold shares of the company. RPg Family Wealth Advisory LLC acquired a new stake in Northrop Grumman during the third quarter worth $31,000. Albion Financial Group UT acquired a new stake in shares of Northrop Grumman in the 4th quarter valued at $33,000. FSA Wealth Management LLC acquired a new stake in shares of Northrop Grumman in the 3rd quarter valued at $36,000. Modus Advisors LLC acquired a new stake in shares of Northrop Grumman in the 4th quarter valued at $38,000. Finally, Catalyst Capital Advisors LLC acquired a new stake in shares of Northrop Grumman in the 3rd quarter valued at $40,000. Institutional investors and hedge funds own 83.40% of the company's stock.
Northrop Grumman Trading Down 3.6 %
Shares of NOC stock traded down $16.36 on Friday, reaching $438.70. The company had a trading volume of 2,035,259 shares, compared to its average volume of 831,728. The company has a current ratio of 1.01, a quick ratio of 0.91 and a debt-to-equity ratio of 0.96. The stock has a market cap of $63.51 billion, a PE ratio of 15.48, a PEG ratio of 3.00 and a beta of 0.35. The company has a 50-day moving average of $474.95 and a 200-day moving average of $499.19. Northrop Grumman Co. has a 12 month low of $418.60 and a 12 month high of $555.57.
Northrop Grumman (NYSE:NOC - Get Free Report) last announced its quarterly earnings results on Thursday, January 30th. The aerospace company reported $6.39 EPS for the quarter, beating 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, equities analysts forecast that Northrop Grumman Co. will post 27.94 earnings per share for the current year.
Northrop Grumman declared that its Board of Directors has initiated a stock buyback plan on Wednesday, December 11th that allows the company to repurchase $3.00 billion in shares. This repurchase authorization allows the aerospace company to repurchase up to 4.3% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company's board believes its shares are undervalued.
Northrop Grumman Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Wednesday, December 18th. Stockholders of record on Monday, December 2nd were paid 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 dividend yield of 1.88%. Northrop Grumman's dividend payout ratio (DPR) is presently 29.08%.
Analyst Upgrades and Downgrades
Several equities research analysts have recently commented on NOC shares. UBS Group reduced their target price on shares of Northrop Grumman from $579.00 to $558.00 and set a "buy" rating on the stock in a research note on Friday, January 31st. Barclays reduced their target price on shares of Northrop Grumman from $550.00 to $500.00 and set an "equal weight" rating on the stock in a research note on Monday, January 6th. Truist Financial started coverage on shares of Northrop Grumman in a research note on Tuesday, January 14th. They issued a "buy" rating and a $544.00 target price on the stock. Wells Fargo & Company reduced their target price on shares of Northrop Grumman from $595.00 to $574.00 and set an "overweight" rating on the stock in a research note on Friday, January 31st. Finally, Royal Bank of Canada lifted their price target on Northrop Grumman from $500.00 to $540.00 and gave the company a "sector perform" rating in a report on Friday, October 25th. Nine investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, Northrop Grumman has a consensus rating of "Moderate Buy" and a consensus price target of $544.56.
Read Our Latest Report on NOC
Northrop Grumman Profile
(
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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