Ieq Capital LLC Grows Position in Northrop Grumman Co. (NYSE:NOC)

Ieq Capital LLC grew its stake in shares of Northrop Grumman Co. (NYSE:NOC - Free Report) by 62.4% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 14,065 shares of the aerospace company's stock after acquiring an additional 5,402 shares during the quarter. Ieq Capital LLC's holdings in Northrop Grumman were worth $6,600,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of NOC. RPg Family Wealth Advisory LLC bought a new stake in Northrop Grumman during the 3rd quarter valued at about $31,000. Albion Financial Group UT bought a new stake in shares of Northrop Grumman during the fourth quarter valued at approximately $33,000. FSA Wealth Management LLC bought a new stake in shares of Northrop Grumman during the third quarter valued at approximately $36,000. Modus Advisors LLC bought a new position in Northrop Grumman in the 4th quarter valued at approximately $38,000. Finally, Catalyst Capital Advisors LLC bought a new position in Northrop Grumman in the 3rd quarter valued at approximately $40,000. Hedge funds and other institutional investors own 83.40% of the company's stock.

Analysts Set New Price Targets

Several research firms have recently weighed in on NOC. Wells Fargo & Company decreased their price target on Northrop Grumman from $595.00 to $574.00 and set an "overweight" rating for the company in a research note on Friday, January 31st. StockNews.com lowered Northrop Grumman from a "strong-buy" rating to a "buy" rating in a research report on Monday, February 3rd. Truist Financial began coverage on shares of Northrop Grumman in a report on Tuesday, January 14th. They set a "buy" rating and a $544.00 price target on the stock. Royal Bank of Canada boosted their price objective on shares of Northrop Grumman from $500.00 to $540.00 and gave the company a "sector perform" rating in a report on Friday, October 25th. Finally, Wolfe Research upgraded shares of Northrop Grumman from an "underperform" rating to a "peer perform" rating in a report on Monday, February 3rd. Nine investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $544.56.

Northrop Grumman Stock Performance

Northrop Grumman stock traded up $10.48 during trading on Friday, reaching $448.59. The company had a trading volume of 1,677,601 shares, compared to its average volume of 958,365. The firm's 50-day simple moving average is $471.66 and its 200 day simple moving average is $497.75. Northrop Grumman Co. has a 52 week low of $418.60 and a 52 week high of $555.57. 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 firm has a market capitalization of $64.94 billion, a price-to-earnings ratio of 15.83, a price-to-earnings-growth ratio of 3.69 and a beta of 0.35.

Northrop Grumman (NYSE:NOC - Get Free Report) last posted its quarterly earnings data on Thursday, January 30th. The aerospace company reported $6.39 EPS for the quarter, topping the consensus estimate of $6.27 by $0.12. Northrop Grumman had a return on equity of 26.24% and a net margin of 10.17%. Sell-side analysts forecast that Northrop Grumman Co. will post 28.05 earnings per share for the current fiscal year.

Northrop Grumman Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, March 19th. Shareholders of record on Monday, March 3rd will be given a $2.06 dividend. The ex-dividend date is Monday, March 3rd. This represents a $8.24 dividend on an annualized basis and a dividend yield of 1.84%. Northrop Grumman's payout ratio is currently 29.08%.

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

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.