Northrop Grumman Co. (NYSE:NOC) Shares Bought by Independent Advisor Alliance

Independent Advisor Alliance grew its position in shares of Northrop Grumman Co. (NYSE:NOC - Free Report) by 18.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 6,940 shares of the aerospace company's stock after purchasing an additional 1,096 shares during the period. Independent Advisor Alliance's holdings in Northrop Grumman were worth $3,257,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. RPg Family Wealth Advisory LLC acquired a new stake in shares of Northrop Grumman during the 3rd quarter worth about $31,000. Whipplewood Advisors LLC purchased a new position in shares of Northrop Grumman during the 4th quarter worth about $31,000. FSA Wealth Management LLC purchased a new position in shares of Northrop Grumman during the 3rd quarter worth about $36,000. Albion Financial Group UT purchased a new position in shares of Northrop Grumman during the 4th quarter worth about $33,000. Finally, Modus Advisors LLC purchased a new position in shares of Northrop Grumman during the 4th quarter worth about $38,000. 83.40% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on NOC shares. Truist Financial started coverage on shares of Northrop Grumman in a report on Tuesday, January 14th. They set a "buy" rating and a $544.00 price objective on the stock. UBS Group cut their price objective on shares of Northrop Grumman from $579.00 to $558.00 and set a "buy" rating on the stock in a report on Friday, January 31st. Citigroup increased their price objective on shares of Northrop Grumman from $587.00 to $591.00 and gave the stock a "buy" rating in a report on Monday, February 10th. Wells Fargo & Company increased their price objective on shares of Northrop Grumman from $545.00 to $547.00 and gave the stock an "overweight" rating in a report on Friday, March 7th. Finally, Barclays cut 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 report on Monday, January 6th. Nine investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, Northrop Grumman presently has a consensus rating of "Moderate Buy" and an average target price of $542.88.

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Northrop Grumman Trading Down 3.7 %

NOC opened at $475.74 on Thursday. The firm has a market capitalization of $68.87 billion, a P/E ratio of 16.79, a P/E/G ratio of 3.73 and a beta of 0.31. The firm's 50 day moving average is $471.10 and its 200-day moving average is $494.70. Northrop Grumman Co. has a 52-week low of $418.60 and a 52-week high of $555.57. The company has a quick ratio of 0.91, a current ratio of 1.01 and a debt-to-equity ratio of 0.96.

Northrop Grumman (NYSE:NOC - Get Free Report) last posted its quarterly earnings data on Thursday, January 30th. The aerospace company reported $6.39 earnings per share (EPS) 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%. Analysts expect that Northrop Grumman Co. will post 28.05 EPS for the current fiscal year.

Northrop Grumman Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 19th. Stockholders of record on Monday, March 3rd will be given a dividend of $2.06 per share. This represents a $8.24 dividend on an annualized basis and a dividend yield of 1.73%. The ex-dividend date is Monday, March 3rd. Northrop Grumman's payout ratio is currently 29.08%.

Northrop Grumman declared that its board has approved a share repurchase program on Wednesday, December 11th that allows the company to repurchase $3.00 billion in shares. This repurchase authorization allows the aerospace company to reacquire up to 4.3% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company's board of directors believes its stock is undervalued.

Insider Transactions at Northrop Grumman

In other news, VP Benjamin R. Davies sold 464 shares of the firm's stock in a transaction that occurred on Friday, February 28th. The shares were sold at an average price of $460.75, for a total transaction of $213,788.00. Following the completion of the sale, the vice president now owns 245 shares of the company's stock, valued at approximately $112,883.75. This trade represents a 65.44 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Kathy J. Warden sold 3,750 shares of Northrop Grumman stock in a transaction on Thursday, March 6th. The stock was sold at an average price of $475.65, for a total transaction of $1,783,687.50. Following the completion of the transaction, the chief executive officer now directly owns 212,852 shares of the company's stock, 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. Over the last quarter, insiders sold 4,505 shares of company stock valued at $2,126,405. 0.22% of the stock is currently owned by corporate 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.

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