Lyell Wealth Management LP Reduces Stock Holdings in Northrop Grumman Co. (NYSE:NOC)

Lyell Wealth Management LP trimmed its position in Northrop Grumman Co. (NYSE:NOC) by 20.9% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 7,567 shares of the aerospace company’s stock after selling 2,004 shares during the period. Lyell Wealth Management LP’s holdings in Northrop Grumman were worth $3,551,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in NOC. Global Retirement Partners LLC lifted its holdings in Northrop Grumman by 11.5% in the 4th quarter. Global Retirement Partners LLC now owns 947 shares of the aerospace company’s stock worth $444,000 after purchasing an additional 98 shares in the last quarter. Bank of Jackson Hole Trust bought a new stake in Northrop Grumman in the 4th quarter worth approximately $103,000. Kentucky Retirement Systems Insurance Trust Fund increased its position in shares of Northrop Grumman by 93.1% during the 4th quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 7,861 shares of the aerospace company’s stock valued at $3,689,000 after purchasing an additional 3,791 shares during the last quarter. Key Financial Inc increased its position in shares of Northrop Grumman by 43.8% during the 4th quarter. Key Financial Inc now owns 105 shares of the aerospace company’s stock valued at $49,000 after purchasing an additional 32 shares during the last quarter. Finally, Venturi Wealth Management LLC increased its position in shares of Northrop Grumman by 41.2% during the 4th quarter. Venturi Wealth Management LLC now owns 476 shares of the aerospace company’s stock valued at $223,000 after purchasing an additional 139 shares during the last quarter. 83.40% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

NOC has been the topic of several research analyst reports. Royal Bank of Canada upped their price objective on Northrop Grumman from $500.00 to $540.00 and gave the company a “sector perform” rating in a research report on Friday, October 25th. StockNews.com cut Northrop Grumman from a “strong-buy” rating to a “buy” rating in a report on Monday, February 3rd. Susquehanna decreased their price objective on Northrop Grumman from $625.00 to $557.00 and set a “positive” rating for the company in a research note on Wednesday, January 8th. Barclays reduced their target price on 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. Finally, Truist Financial initiated coverage on Northrop Grumman in a research report on Tuesday, January 14th. They set a “buy” rating and a $544.00 target price on the stock. Nine investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Northrop Grumman currently has an average rating of “Moderate Buy” and a consensus target price of $544.56.

Northrop Grumman Price Performance

Northrop Grumman stock opened at $441.00 on Wednesday. Northrop Grumman Co. has a 52-week low of $418.60 and a 52-week high of $555.57. The firm has a market capitalization of $63.84 billion, a price-to-earnings ratio of 15.56, a PEG ratio of 3.73 and a beta of 0.35. The company has a fifty day simple moving average of $473.36 and a 200-day simple moving average of $498.62. The company has a quick ratio of 0.91, a current ratio of 1.01 and a debt-to-equity ratio of 0.96.

Northrop Grumman (NYSE:NOC) last announced its quarterly earnings data on Thursday, January 30th. The aerospace company reported $6.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $6.27 by $0.12. Northrop Grumman had a net margin of 10.17% and a return on equity of 26.24%. On average, equities analysts anticipate that Northrop Grumman Co. will post 28.05 EPS for the current fiscal year.

Northrop Grumman Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, March 19th. Stockholders of record on Monday, March 3rd will be given a dividend of $2.06 per share. This represents a $8.24 annualized dividend and a dividend yield of 1.87%. Northrop Grumman’s dividend payout ratio is presently 29.08%.

Northrop Grumman announced that its Board of Directors has authorized a stock buyback plan on Wednesday, December 11th that permits the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization permits the aerospace company to reacquire up to 4.3% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.

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.