Kestra Private Wealth Services LLC Grows Holdings in Northrop Grumman Co. (NYSE:NOC)

Kestra Private Wealth Services LLC lifted its position in shares of Northrop Grumman Co. (NYSE:NOC - Free Report) by 62.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 8,877 shares of the aerospace company's stock after purchasing an additional 3,404 shares during the period. Kestra Private Wealth Services LLC's holdings in Northrop Grumman were worth $4,166,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the company. RPg Family Wealth Advisory LLC acquired a new position in Northrop Grumman in the 3rd quarter valued at about $31,000. Albion Financial Group UT acquired a new position in Northrop Grumman in the 4th quarter valued at about $33,000. FSA Wealth Management LLC acquired a new position in Northrop Grumman in the 3rd quarter valued at about $36,000. Modus Advisors LLC acquired a new position in Northrop Grumman in the 4th quarter valued at about $38,000. Finally, Catalyst Capital Advisors LLC acquired a new position in Northrop Grumman in the 3rd quarter valued at about $40,000. 83.40% of the stock is currently owned by institutional investors and hedge funds.

Northrop Grumman Stock Down 3.6 %

NYSE NOC traded down $16.36 on Friday, hitting $438.70. 2,035,259 shares of the company were exchanged, compared to its average volume of 894,261. The company 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. Northrop Grumman Co. has a 12 month low of $418.60 and a 12 month high of $555.57. The stock has a fifty day moving average of $475.65 and a 200-day moving average of $499.46. The company has a current ratio of 1.01, a quick ratio of 0.91 and a debt-to-equity ratio of 0.96.

Northrop Grumman (NYSE:NOC - Get Free Report) last released its quarterly earnings data on Thursday, January 30th. The aerospace company reported $6.39 earnings per share for the quarter, beating analysts' consensus estimates of $6.27 by $0.12. Northrop Grumman had a net margin of 10.17% and a return on equity of 26.24%. As a group, analysts forecast that Northrop Grumman Co. will post 27.94 earnings per share for the current year.

Northrop Grumman declared that its board has approved a share repurchase plan on Wednesday, December 11th that permits the company to repurchase $3.00 billion in shares. This repurchase authorization permits the aerospace company to purchase up to 4.3% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company's management believes its shares are undervalued.

Northrop Grumman Dividend Announcement

The firm also recently announced 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 was Monday, December 2nd. This represents a $8.24 annualized dividend and a dividend yield of 1.88%. Northrop Grumman's payout ratio is 29.08%.

Wall Street Analysts Forecast Growth

NOC has been the subject of a number of recent research reports. Truist Financial initiated coverage on shares of Northrop Grumman in a report on Tuesday, January 14th. They issued a "buy" rating and a $544.00 price objective for the company. Susquehanna cut their price objective on shares of Northrop Grumman from $625.00 to $557.00 and set a "positive" rating for the company in a report on Wednesday, January 8th. Wolfe Research raised shares of Northrop Grumman from an "underperform" rating to a "peer perform" rating in a report on Monday, February 3rd. Barclays cut their price objective on shares of Northrop Grumman from $550.00 to $500.00 and set an "equal weight" rating for the company in a report on Monday, January 6th. Finally, Citigroup boosted their price objective on shares of Northrop Grumman from $587.00 to $591.00 and gave the company a "buy" rating in a report on Monday. Nine analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $544.56.

About Northrop Grumman

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.