By otakuyassine3@gmail.com 
Kingsview Wealth Management LLC lifted its holdings in shares of Northrop Grumman Co. (NYSE:NOC – Free Report) by 2.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,520 shares of the aerospace company’s stock after purchasing an additional 183 shares during the period. Kingsview Wealth Management LLC’s holdings in Northrop Grumman were worth $3,998,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently made changes to their positions in NOC. Unison Asset Management LLC raised its position in Northrop Grumman by 2.6% in the fourth quarter. Unison Asset Management LLC now owns 8,375 shares of the aerospace company’s stock worth $3,930,000 after acquiring an additional 212 shares during the period. Cidel Asset Management Inc. raised its holdings in shares of Northrop Grumman by 8.7% in the 4th quarter. Cidel Asset Management Inc. now owns 1,020 shares of the aerospace company’s stock worth $479,000 after purchasing an additional 82 shares during the period. Joel Isaacson & Co. LLC lifted its stake in Northrop Grumman by 21.9% in the fourth quarter. Joel Isaacson & Co. LLC now owns 1,754 shares of the aerospace company’s stock valued at $823,000 after purchasing an additional 315 shares during the last quarter. Golden State Wealth Management LLC bought a new position in Northrop Grumman during the fourth quarter valued at $425,000. Finally, Sumitomo Mitsui DS Asset Management Company Ltd increased its position in Northrop Grumman by 1.5% in the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 16,847 shares of the aerospace company’s stock worth $7,906,000 after buying an additional 245 shares during the last quarter. 83.40% of the stock is owned by hedge funds and other institutional investors.
Northrop Grumman Stock Performance
Shares of NOC opened at $468.75 on Monday. 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 stock has a 50-day moving average price of $476.91 and a 200-day moving average price of $499.60. The company has a market cap of $67.85 billion, a PE ratio of 16.54, a price-to-earnings-growth 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.
Northrop Grumman (NYSE:NOC – Get Free Report) last announced its earnings results on Thursday, January 30th. The aerospace company reported $6.39 earnings per share (EPS) for the quarter, beating the consensus estimate 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, equities analysts forecast that Northrop Grumman Co. will post 27.94 earnings per share for the current fiscal year.
Northrop Grumman Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Wednesday, December 18th. Investors 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 dividend on an annualized basis and a yield of 1.76%. Northrop Grumman’s dividend payout ratio is presently 29.08%.
Northrop Grumman declared that its board has initiated a share repurchase program on Wednesday, December 11th that permits the company to repurchase $3.00 billion in shares. This repurchase authorization permits the aerospace company to repurchase up to 4.3% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s management believes its shares are undervalued.
Wall Street Analyst Weigh In
A number of research analysts have recently commented on the company. Citigroup raised Northrop Grumman from a “neutral” rating to a “buy” rating and set a $587.00 price target on the stock in a research report on Tuesday, January 21st. StockNews.com downgraded shares of Northrop Grumman from a “strong-buy” rating to a “buy” rating in a report on Monday, February 3rd. JPMorgan Chase & Co. lifted their target price on shares of Northrop Grumman from $500.00 to $560.00 and gave the stock a “neutral” rating in a research note on Monday, October 14th. Susquehanna dropped their price target on shares of Northrop Grumman from $625.00 to $557.00 and set a “positive” rating on the stock in a research note on Wednesday, January 8th. Finally, Truist Financial began coverage on shares of Northrop Grumman in a research note on Tuesday, January 14th. They issued a “buy” rating and a $544.00 price objective for the company. Nine equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $544.31.
Read Our Latest Analysis on NOC
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.
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