Pines Wealth Management LLC Acquires New Holdings in Northrop Grumman Co. (NYSE:NOC)

Pines Wealth Management LLC bought a new position in Northrop Grumman Co. (NYSE:NOC - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 901 shares of the aerospace company's stock, valued at approximately $413,000.

A number of other hedge funds have also added to or reduced their stakes in NOC. Marcum Wealth LLC boosted its stake in Northrop Grumman by 8.6% during the fourth quarter. Marcum Wealth LLC now owns 1,138 shares of the aerospace company's stock worth $534,000 after acquiring an additional 90 shares in the last quarter. Marion Wealth Management raised its stake in Northrop Grumman by 2.6% during the 4th quarter. Marion Wealth Management now owns 2,720 shares of the aerospace company's stock worth $1,277,000 after buying an additional 70 shares during the period. Parisi Gray Wealth Management boosted its holdings in Northrop Grumman by 9.0% in the fourth quarter. Parisi Gray Wealth Management now owns 1,156 shares of the aerospace company's stock worth $542,000 after acquiring an additional 95 shares in the last quarter. Miracle Mile Advisors LLC acquired a new stake in Northrop Grumman in the fourth quarter valued at approximately $266,000. Finally, Bar Harbor Wealth Management bought a new stake in shares of Northrop Grumman during the fourth quarter valued at approximately $208,000. 83.40% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages recently issued reports on NOC. Barclays cut their target price on Northrop Grumman from $550.00 to $500.00 and set an "equal weight" rating on the stock in a report on Monday, January 6th. Truist Financial initiated coverage on shares of Northrop Grumman in a research note on Tuesday. They issued a "buy" rating and a $544.00 price objective on the stock. Susquehanna reduced 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. UBS Group upped their target price on shares of Northrop Grumman from $614.00 to $643.00 and gave the stock a "buy" rating in a report on Friday, October 25th. Finally, JPMorgan Chase & Co. raised their price target on shares of Northrop Grumman from $500.00 to $560.00 and gave the company a "neutral" rating in a research report on Monday, October 14th. Nine analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $550.94.

Northrop Grumman Stock Performance

Shares of Northrop Grumman stock traded up $6.90 during trading hours on Thursday, hitting $479.20. 408,097 shares of the company's stock traded hands, compared to its average volume of 711,668. The stock has a market capitalization of $69.82 billion, a price-to-earnings ratio of 29.68, a PEG ratio of 0.87 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 company has a debt-to-equity ratio of 1.00, a current ratio of 1.09 and a quick ratio of 0.97. The company has a fifty day simple moving average of $483.30 and a 200-day simple moving average of $493.62.

Northrop Grumman (NYSE:NOC - Get Free Report) last posted its quarterly earnings results on Thursday, October 24th. The aerospace company reported $7.00 EPS for the quarter, topping analysts' consensus estimates of $6.07 by $0.93. Northrop Grumman had a net margin of 5.79% and a return on equity of 26.57%. The company had revenue of $10 billion for the quarter, compared to analysts' expectations of $10.18 billion. During the same quarter in the previous year, the firm posted $6.18 EPS. Northrop Grumman's revenue was up 2.3% on a year-over-year basis. Equities research analysts anticipate that Northrop Grumman Co. will post 25.93 EPS for the current fiscal year.

Northrop Grumman Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, December 18th. Stockholders of record on Monday, December 2nd were paid a dividend of $2.06 per share. The ex-dividend date was Monday, December 2nd. This represents a $8.24 annualized dividend and a dividend yield of 1.72%. Northrop Grumman's payout ratio is 51.05%.

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

Insider Buying and Selling

In other Northrop Grumman news, VP Benjamin R. Davies sold 1,156 shares of the business's stock in a transaction 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 sale, the vice president now owns 537 shares of the company's stock, valued at $286,183.41. The trade was a 68.28 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. In the last 90 days, insiders sold 1,255 shares of company stock valued at $663,859. 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.