ZWJ Investment Counsel Inc. boosted its position in Northrop Grumman Co. (NYSE:NOC - Free Report) by 1.3% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 101,282 shares of the aerospace company's stock after acquiring an additional 1,321 shares during the period. Northrop Grumman accounts for 2.0% of ZWJ Investment Counsel Inc.'s investment portfolio, making the stock its 19th biggest position. ZWJ Investment Counsel Inc. owned approximately 0.07% of Northrop Grumman worth $47,531,000 at the end of the most recent reporting period.
Other hedge funds have also recently modified their holdings of the company. Benjamin F. Edwards & Company Inc. boosted its stake in shares of Northrop Grumman by 4.5% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 2,206 shares of the aerospace company's stock valued at $961,000 after purchasing an additional 95 shares in the last quarter. AE Wealth Management LLC boosted its position in shares of Northrop Grumman by 19.6% during the second quarter. AE Wealth Management LLC now owns 1,778 shares of the aerospace company's stock valued at $775,000 after purchasing an additional 291 shares in the last quarter. Summit Trail Advisors LLC grew its stake in Northrop Grumman by 9.8% in the second quarter. Summit Trail Advisors LLC now owns 895 shares of the aerospace company's stock worth $390,000 after purchasing an additional 80 shares during the period. ProShare Advisors LLC raised its holdings in Northrop Grumman by 29.5% in the second quarter. ProShare Advisors LLC now owns 23,230 shares of the aerospace company's stock worth $10,127,000 after purchasing an additional 5,285 shares in the last quarter. Finally, Frank Rimerman Advisors LLC lifted its position in Northrop Grumman by 12,673.3% during the second quarter. Frank Rimerman Advisors LLC now owns 1,916 shares of the aerospace company's stock valued at $835,000 after buying an additional 1,901 shares during the period. Hedge funds and other institutional investors own 83.40% of the company's stock.
Northrop Grumman Trading Up 4.5 %
NYSE:NOC traded up $21.78 during mid-day trading on Tuesday, hitting $504.16. 1,309,771 shares of the stock traded hands, compared to its average volume of 820,172. The company has a quick ratio of 0.97, a current ratio of 1.09 and a debt-to-equity ratio of 1.00. The stock has a market capitalization of $73.46 billion, a price-to-earnings ratio of 31.24, a PEG ratio of 0.91 and a beta of 0.35. Northrop Grumman Co. has a 52 week low of $418.60 and a 52 week high of $555.57. The firm's 50 day moving average is $479.52 and its two-hundred day moving average is $494.82.
Northrop Grumman (NYSE:NOC - Get Free Report) last announced its quarterly earnings data on Thursday, October 24th. The aerospace company reported $7.00 EPS for the quarter, beating the consensus estimate of $6.07 by $0.93. The company had revenue of $10 billion for the quarter, compared to the consensus estimate of $10.18 billion. Northrop Grumman had a return on equity of 26.57% and a net margin of 5.79%. Northrop Grumman's quarterly revenue was up 2.3% on a year-over-year basis. During the same quarter in the prior year, the company posted $6.18 EPS. On average, equities research analysts predict that Northrop Grumman Co. will post 25.95 earnings per share for the current year.
Northrop Grumman Dividend Announcement
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 1.63%. Northrop Grumman's dividend payout ratio is currently 51.05%.
Northrop Grumman announced that its Board of Directors has approved a stock repurchase plan on Wednesday, December 11th that allows the company to buyback $3.00 billion in shares. This buyback authorization allows the aerospace company to buy up to 4.3% of its stock through open market purchases. Stock buyback plans are generally an indication that the company's management believes its stock is undervalued.
Wall Street Analyst Weigh In
A number of research analysts recently issued reports on the stock. Susquehanna lowered their price target on shares of Northrop Grumman from $625.00 to $557.00 and set a "positive" rating for the company in a research report on Wednesday, January 8th. JPMorgan Chase & Co. boosted their price target on Northrop Grumman from $500.00 to $560.00 and gave the stock a "neutral" rating in a research report on Monday, October 14th. StockNews.com raised Northrop Grumman from a "buy" rating to a "strong-buy" rating in a research report on Sunday. Citigroup raised Northrop Grumman from a "neutral" rating to a "buy" rating and set a $587.00 target price on the stock in a report on Tuesday. Finally, Truist Financial assumed coverage on Northrop Grumman in a report on Tuesday, January 14th. They set a "buy" rating and a $544.00 price target for the company. Eight equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $550.94.
Check Out Our Latest Stock Analysis on Northrop Grumman
Insider Activity at Northrop Grumman
In related news, VP Benjamin R. Davies sold 1,156 shares of the firm's stock in a transaction dated Monday, November 11th. The stock was 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. This trade represents a 68.28 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders sold 1,255 shares of company stock worth $663,859 over the last three months. 0.22% of the stock is owned by corporate insiders.
Northrop Grumman Company Profile
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Free Report)
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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