Graypoint LLC Increases Holdings in Northrop Grumman Co. (NYSE:NOC)

Graypoint LLC lifted its position in Northrop Grumman Co. (NYSE:NOC) by 5.6% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 2,043 shares of the aerospace company’s stock after purchasing an additional 108 shares during the period. Graypoint LLC’s holdings in Northrop Grumman were worth $959,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of the company. Ascent Group LLC boosted its holdings in shares of Northrop Grumman by 0.5% during the 2nd quarter. Ascent Group LLC now owns 4,337 shares of the aerospace company’s stock worth $1,891,000 after purchasing an additional 20 shares during the last quarter. Cornell Pochily Investment Advisors Inc. boosted its holdings in shares of Northrop Grumman by 0.9% during the 3rd quarter. Cornell Pochily Investment Advisors Inc. now owns 2,141 shares of the aerospace company’s stock worth $1,131,000 after purchasing an additional 20 shares during the last quarter. Asset Dedication LLC boosted its holdings in shares of Northrop Grumman by 1.0% during the 3rd quarter. Asset Dedication LLC now owns 2,025 shares of the aerospace company’s stock worth $1,069,000 after purchasing an additional 20 shares during the last quarter. Foundations Investment Advisors LLC boosted its holdings in shares of Northrop Grumman by 1.4% during the 3rd quarter. Foundations Investment Advisors LLC now owns 1,478 shares of the aerospace company’s stock worth $780,000 after purchasing an additional 20 shares during the last quarter. Finally, PBMares Wealth Management LLC boosted its holdings in shares of Northrop Grumman by 0.5% during the 3rd quarter. PBMares Wealth Management LLC now owns 4,421 shares of the aerospace company’s stock worth $2,335,000 after purchasing an additional 20 shares during the last quarter. Hedge funds and other institutional investors own 83.40% of the company’s stock.

Northrop Grumman Stock Performance

NYSE:NOC opened at $458.37 on Friday. The company has a fifty day simple moving average of $484.74 and a two-hundred day simple moving average of $492.20. The company has a market cap of $66.78 billion, a price-to-earnings ratio of 28.40, a price-to-earnings-growth ratio of 0.97 and a beta of 0.35. The company has a quick ratio of 0.97, a current ratio of 1.09 and a debt-to-equity ratio of 1.00. Northrop Grumman Co. has a 52 week low of $418.60 and a 52 week high of $555.57.

Northrop Grumman (NYSE:NOC) last posted its quarterly earnings results on Thursday, October 24th. The aerospace company reported $7.00 EPS for the quarter, topping the consensus estimate of $6.07 by $0.93. The business had revenue of $10 billion during the quarter, compared to the consensus estimate of $10.18 billion. Northrop Grumman had a net margin of 5.79% and a return on equity of 26.57%. The company’s quarterly revenue was up 2.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $6.18 earnings per share. As a group, equities analysts anticipate that Northrop Grumman Co. will post 25.93 earnings per share for the current fiscal year.

Northrop Grumman Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, December 18th. Shareholders of record on Monday, December 2nd were paid a $2.06 dividend. The ex-dividend date of this dividend was Monday, December 2nd. This represents a $8.24 annualized dividend and a dividend yield of 1.80%. Northrop Grumman’s dividend payout ratio (DPR) is 51.05%.

Northrop Grumman declared that its Board of Directors has approved a share repurchase program on Wednesday, December 11th that permits the company to buyback $3.00 billion in shares. This buyback authorization permits the aerospace company to buy up to 4.3% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s management believes its stock is undervalued.

Analyst Ratings Changes

Several analysts have recently commented on the stock. Susquehanna reduced 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 report on Wednesday. TD Cowen raised shares of Northrop Grumman to a “hold” rating in a research report on Tuesday, October 8th. UBS Group lifted their price target on shares of Northrop Grumman from $614.00 to $643.00 and gave the company a “buy” rating in a research report on Friday, October 25th. Citigroup lifted their price target on shares of Northrop Grumman from $521.00 to $587.00 and gave the company a “neutral” rating in a research report on Thursday, October 10th. Finally, Barclays reduced 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 research report on Monday, January 6th. Nine investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $551.40.

Insiders Place Their Bets

In related 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 completion of the transaction, the vice president now owns 537 shares in the company, valued at approximately $286,183.41. The trade was a 68.28 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders sold a total of 1,255 shares of company stock worth $663,859 over the last 90 days. Corporate insiders own 0.22% of the company’s stock.

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.