Harel Insurance Investments & Financial Services Ltd. Purchases 3,824 Shares of Northrop Grumman Co. (NYSE:NOC)

Harel Insurance Investments & Financial Services Ltd. grew its holdings in shares of Northrop Grumman Co. (NYSE:NOC) by 53.3% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 11,000 shares of the aerospace company’s stock after buying an additional 3,824 shares during the period. Harel Insurance Investments & Financial Services Ltd.’s holdings in Northrop Grumman were worth $5,162,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of NOC. RPg Family Wealth Advisory LLC bought a new stake in Northrop Grumman during the third quarter worth about $31,000. FSA Wealth Management LLC purchased a new position in shares of Northrop Grumman during the third quarter valued at approximately $36,000. Albion Financial Group UT bought a new stake in shares of Northrop Grumman in the 4th quarter worth approximately $33,000. Catalyst Capital Advisors LLC bought a new position in Northrop Grumman during the 3rd quarter valued at approximately $40,000. Finally, Modus Advisors LLC purchased a new position in Northrop Grumman during the fourth quarter valued at $38,000. 83.40% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on NOC shares. JPMorgan Chase & Co. raised their price target on Northrop Grumman from $500.00 to $560.00 and gave the company a “neutral” rating in a report on Monday, October 14th. Barclays decreased their target price on shares of Northrop Grumman from $550.00 to $500.00 and set an “equal weight” rating for the company in a report on Monday, January 6th. Wells Fargo & Company raised Northrop Grumman from an “equal weight” rating to an “overweight” rating and set a $595.00 price target on the stock in a report on Wednesday, January 8th. StockNews.com upgraded shares of Northrop Grumman from a “buy” rating to a “strong-buy” rating in a research note on Sunday, January 19th. Finally, Truist Financial initiated coverage on shares of Northrop Grumman in a report on Tuesday, January 14th. They set a “buy” rating and a $544.00 price objective for the company. Eight investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Northrop Grumman has an average rating of “Moderate Buy” and a consensus price target of $550.94.

Northrop Grumman Stock Performance

Shares of NOC opened at $497.13 on Friday. The business has a 50-day simple moving average of $478.60 and a two-hundred day simple moving average of $495.39. 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. The stock has a market cap of $72.43 billion, a price-to-earnings ratio of 30.80, a PEG ratio of 0.95 and a beta of 0.35.

Northrop Grumman (NYSE:NOC) last released its earnings results on Thursday, October 24th. The aerospace company reported $7.00 earnings per share (EPS) for the quarter, topping the consensus estimate 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 during the quarter, compared to analyst estimates of $10.18 billion. During the same period in the prior year, the firm posted $6.18 EPS. The firm’s quarterly revenue was up 2.3% compared to the same quarter last year. On average, analysts expect that Northrop Grumman Co. will post 25.96 EPS for the current year.

Northrop Grumman Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, December 18th. Stockholders of record on Monday, December 2nd were given 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 1.66%. Northrop Grumman’s payout ratio is 51.05%.

Northrop Grumman declared that its board has approved a stock repurchase plan on Wednesday, December 11th that authorizes the company to buyback $3.00 billion in shares. This buyback authorization authorizes the aerospace company to reacquire up to 4.3% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s leadership believes its shares are undervalued.

Insider Buying and Selling

In other 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 value of $616,067.08. Following the transaction, the vice president now owns 537 shares of the company’s stock, valued at approximately $286,183.41. The trade was a 68.28 % 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. In the last quarter, insiders sold 1,255 shares of company stock valued at $663,859. Company insiders own 0.22% of the company’s stock.

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.