Hennion & Walsh Asset Management Inc. Has $2.59 Million Holdings in Northrop Grumman Co. (NYSE:NOC)

Hennion & Walsh Asset Management Inc. raised its stake in Northrop Grumman Co. (NYSE:NOC - Free Report) by 17.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 5,522 shares of the aerospace company's stock after purchasing an additional 813 shares during the period. Hennion & Walsh Asset Management Inc.'s holdings in Northrop Grumman were worth $2,591,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Wellington Management Group LLP increased its holdings in shares of Northrop Grumman by 0.4% in the third quarter. Wellington Management Group LLP now owns 4,140,892 shares of the aerospace company's stock valued at $2,186,681,000 after purchasing an additional 17,596 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of Northrop Grumman by 0.6% in the third quarter. Geode Capital Management LLC now owns 3,003,360 shares of the aerospace company's stock valued at $1,581,644,000 after acquiring an additional 18,791 shares in the last quarter. Franklin Resources Inc. grew its stake in shares of Northrop Grumman by 6.2% in the third quarter. Franklin Resources Inc. now owns 2,426,270 shares of the aerospace company's stock valued at $1,315,729,000 after acquiring an additional 141,816 shares in the last quarter. Legal & General Group Plc grew its stake in shares of Northrop Grumman by 16.0% in the second quarter. Legal & General Group Plc now owns 1,087,913 shares of the aerospace company's stock valued at $474,276,000 after acquiring an additional 150,367 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in shares of Northrop Grumman by 0.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 809,445 shares of the aerospace company's stock valued at $427,444,000 after acquiring an additional 3,211 shares in the last quarter. 83.40% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on NOC shares. Truist Financial started coverage on shares of Northrop Grumman in a research note on Tuesday. They issued a "buy" rating and a $544.00 price target on the stock. Susquehanna decreased their price target on shares of Northrop Grumman from $625.00 to $557.00 and set a "positive" rating on the stock in a research note on Wednesday, January 8th. TD Cowen upgraded shares of Northrop Grumman to a "hold" rating in a research note on Tuesday, October 8th. Barclays decreased their price target 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. Finally, Wells Fargo & Company upgraded shares of Northrop Grumman from an "equal weight" rating to an "overweight" rating and set a $595.00 price objective on the stock in a research note on Wednesday, January 8th. Nine investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $550.94.

Northrop Grumman Price Performance

Shares of NOC stock traded up $1.30 on Friday, reaching $482.49. The company had a trading volume of 1,091,500 shares, compared to its average volume of 775,640. The stock has a market capitalization of $70.30 billion, a PE ratio of 29.89, a price-to-earnings-growth ratio of 0.87 and a beta of 0.35. 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 Co. has a one year low of $418.60 and a one year high of $555.57. The business's 50-day moving average is $481.48 and its 200 day moving average is $493.38.

Northrop Grumman (NYSE:NOC - Get Free Report) last issued its quarterly earnings data 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 business had revenue of $10 billion during the quarter, compared to analyst estimates of $10.18 billion. Northrop Grumman had a net margin of 5.79% and a return on equity of 26.57%. The firm's quarterly revenue was up 2.3% on a year-over-year basis. During the same quarter last year, the business earned $6.18 EPS. Equities research analysts forecast that Northrop Grumman Co. will post 25.93 EPS for the current fiscal year.

Northrop Grumman Announces Dividend

The firm also recently disclosed 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 1.71%. Northrop Grumman's dividend payout ratio (DPR) is presently 51.05%.

Northrop Grumman announced that its board has authorized a share repurchase plan on Wednesday, December 11th that permits the company to buyback $3.00 billion in shares. This buyback authorization permits the aerospace company to reacquire up to 4.3% of its shares through open market purchases. Shares buyback plans are often a sign that the company's board believes its stock is undervalued.

Insider Activity at Northrop Grumman

In other Northrop Grumman news, VP Benjamin R. Davies sold 1,156 shares of the stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $532.93, for a total transaction of $616,067.08. Following the completion of the sale, 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 position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders sold a total of 1,255 shares of company stock worth $663,859 in the last quarter. 0.22% of the stock is owned by insiders.

Northrop Grumman 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.