Perigon Wealth Management LLC Has $1.29 Million Holdings in Northrop Grumman Co. (NYSE:NOC)

Perigon Wealth Management LLC boosted its stake in Northrop Grumman Co. (NYSE:NOC) by 5.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,685 shares of the aerospace company’s stock after purchasing an additional 140 shares during the period. Perigon Wealth Management LLC’s holdings in Northrop Grumman were worth $1,292,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Two Sigma Advisers LP increased its stake in shares of Northrop Grumman by 102.6% in the third quarter. Two Sigma Advisers LP now owns 735,600 shares of the aerospace company’s stock valued at $388,448,000 after buying an additional 372,500 shares during the period. Franklin Resources Inc. boosted its holdings in Northrop Grumman by 6.2% in the third quarter. Franklin Resources Inc. now owns 2,426,270 shares of the aerospace company’s stock valued at $1,315,729,000 after acquiring an additional 141,816 shares during the last quarter. Wedge Capital Management L L P NC bought a new position in Northrop Grumman during the 4th quarter worth approximately $66,171,000. International Assets Investment Management LLC acquired a new position in shares of Northrop Grumman in the 4th quarter worth approximately $622,000. Finally, National Bank of Canada FI boosted its stake in shares of Northrop Grumman by 154.7% in the 3rd quarter. National Bank of Canada FI now owns 157,601 shares of the aerospace company’s stock valued at $83,224,000 after purchasing an additional 95,724 shares during the last quarter. 83.40% of the stock is currently owned by institutional investors and hedge funds.

Northrop Grumman Price Performance

NOC stock opened at $483.70 on Friday. The company has a market capitalization of $70.48 billion, a P/E ratio of 29.97, a price-to-earnings-growth ratio of 0.95 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 business has a 50-day simple moving average of $478.66 and a two-hundred day simple moving average of $497.63. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.97 and a current ratio of 1.09.

Northrop Grumman (NYSE:NOC) last announced its quarterly earnings results on Thursday, January 30th. The aerospace company reported $6.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.27 by $0.12. Northrop Grumman had a return on equity of 26.57% and a net margin of 5.79%. Research analysts expect that Northrop Grumman Co. will post 25.96 EPS for the current fiscal year.

Northrop Grumman Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, December 18th. Shareholders of record on Monday, December 2nd were given a $2.06 dividend. This represents a $8.24 dividend on an annualized basis and a yield of 1.70%. The ex-dividend date was Monday, December 2nd. Northrop Grumman’s payout ratio is 51.05%.

Northrop Grumman announced that its board has approved a share buyback program on Wednesday, December 11th that allows the company to buyback $3.00 billion in outstanding shares. This buyback authorization allows the aerospace company to purchase up to 4.3% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board of directors believes its stock is undervalued.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. UBS Group lifted their target price on shares of Northrop Grumman from $614.00 to $643.00 and gave the stock a “buy” rating in a research note on Friday, October 25th. Wells Fargo & Company upgraded Northrop Grumman from an “equal weight” rating to an “overweight” rating and set a $595.00 target price on the stock in a research report on Wednesday, January 8th. JPMorgan Chase & Co. lifted their target price on Northrop Grumman from $500.00 to $560.00 and gave the stock a “neutral” rating in a report on Monday, October 14th. Truist Financial started coverage on shares of Northrop Grumman in a research report on Tuesday, January 14th. They set a “buy” rating and a $544.00 price objective for the company. Finally, Citigroup upgraded shares of Northrop Grumman from a “neutral” rating to a “buy” rating and set a $587.00 target price on the stock in a research report on Tuesday, January 21st. Eight research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Northrop Grumman currently has a consensus rating of “Moderate Buy” and a consensus price target of $550.94.

Insider Buying and Selling at Northrop Grumman

In other news, VP Benjamin R. Davies sold 1,156 shares of the company’s stock in a transaction that occurred on Monday, November 11th. The stock was 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 $286,183.41. This represents a 68.28 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In the last 90 days, insiders sold 1,255 shares of company stock worth $663,859. Insiders own 0.22% of the company’s stock.

Northrop Grumman Company 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.