Northrop Grumman Co. (NYSE:NOC) Shares Bought by Cornerstone Wealth Management LLC

Cornerstone Wealth Management LLC lifted its position in shares of Northrop Grumman Co. (NYSE:NOC) by 15.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,594 shares of the aerospace company’s stock after purchasing an additional 210 shares during the quarter. Cornerstone Wealth Management LLC’s holdings in Northrop Grumman were worth $748,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Ascent Group LLC increased its holdings in Northrop Grumman by 0.5% in the second quarter. Ascent Group LLC now owns 4,337 shares of the aerospace company’s stock valued at $1,891,000 after buying an additional 20 shares during the last quarter. Cornell Pochily Investment Advisors Inc. boosted its position 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 acquiring an additional 20 shares in the last quarter. Asset Dedication LLC increased its holdings in shares of Northrop Grumman by 1.0% in the 3rd quarter. Asset Dedication LLC now owns 2,025 shares of the aerospace company’s stock valued at $1,069,000 after acquiring an additional 20 shares during the last quarter. Foundations Investment Advisors LLC raised its position 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 acquiring an additional 20 shares in the last quarter. Finally, PBMares Wealth Management LLC lifted its stake in Northrop Grumman by 0.5% during the third 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. 83.40% of the stock is owned by hedge funds and other institutional investors.

Northrop Grumman Trading Down 0.5 %

NYSE NOC opened at $497.13 on Friday. Northrop Grumman Co. has a 52-week low of $418.60 and a 52-week high of $555.57. The firm has a 50-day moving average price of $478.66 and a 200 day moving average price of $495.86. The stock has a market capitalization of $72.43 billion, a P/E ratio of 30.80, a P/E/G ratio of 0.95 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 (NYSE:NOC) last posted its quarterly earnings results 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 business had revenue of $10 billion during the quarter, compared to analysts’ expectations of $10.18 billion. Northrop Grumman had a return on equity of 26.57% and a net margin of 5.79%. The company’s quarterly revenue was up 2.3% compared to the same quarter last year. During the same period last year, the firm earned $6.18 EPS. Equities research analysts expect that Northrop Grumman Co. will post 25.96 EPS for the current year.

Northrop Grumman Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, December 18th. Stockholders of record on Monday, December 2nd were issued a $2.06 dividend. The ex-dividend date of this dividend was Monday, December 2nd. This represents a $8.24 dividend on an annualized basis and a dividend yield of 1.66%. Northrop Grumman’s dividend payout ratio is presently 51.05%.

Northrop Grumman declared that its Board of Directors has initiated a stock 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 purchase up to 4.3% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s board believes its stock is undervalued.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the stock. Truist Financial began coverage on shares of Northrop Grumman in a report on Tuesday, January 14th. They set a “buy” rating and a $544.00 price objective on the stock. Citigroup raised shares of Northrop Grumman from a “neutral” rating to a “buy” rating and set a $587.00 price target for the company in a research report on Tuesday, January 21st. StockNews.com upgraded Northrop Grumman from a “buy” rating to a “strong-buy” rating in a research report on Sunday, January 19th. UBS Group upped their target price on Northrop Grumman from $614.00 to $643.00 and gave the company a “buy” rating in a research report on Friday, October 25th. Finally, Royal Bank of Canada lifted their price target on Northrop Grumman from $500.00 to $540.00 and gave the stock a “sector perform” rating in a research report on Friday, October 25th. Eight investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Northrop Grumman currently has an average rating of “Moderate Buy” and a consensus price target of $550.94.

Insider Activity at Northrop Grumman

In other Northrop Grumman news, VP Benjamin R. Davies sold 1,156 shares of the stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $532.93, for a total value of $616,067.08. Following the completion of the transaction, the vice president now directly owns 537 shares of the company’s stock, valued at approximately $286,183.41. This trade represents a 68.28 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders sold 1,255 shares of company stock worth $663,859 over the last 90 days. 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.