IFP Advisors Inc Increases Stock Position in Northrop Grumman Co. (NYSE:NOC)

IFP Advisors Inc boosted its stake in Northrop Grumman Co. (NYSE:NOC) by 77.1% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,362 shares of the aerospace company’s stock after purchasing an additional 2,335 shares during the quarter. IFP Advisors Inc’s holdings in Northrop Grumman were worth $2,517,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Y Intercept Hong Kong Ltd grew its position in Northrop Grumman by 814.7% during the fourth quarter. Y Intercept Hong Kong Ltd now owns 10,464 shares of the aerospace company’s stock valued at $4,911,000 after acquiring an additional 9,320 shares during the last quarter. BCGM Wealth Management LLC grew its holdings in shares of Northrop Grumman by 2.9% in the fourth quarter. BCGM Wealth Management LLC now owns 6,492 shares of the aerospace company’s stock worth $3,046,000 after purchasing an additional 180 shares during the last quarter. World Equity Group Inc. bought a new position in shares of Northrop Grumman in the fourth quarter worth approximately $253,000. Ascent Wealth Partners LLC grew its holdings in shares of Northrop Grumman by 0.7% in the fourth quarter. Ascent Wealth Partners LLC now owns 4,822 shares of the aerospace company’s stock worth $2,263,000 after purchasing an additional 35 shares during the last quarter. Finally, MONECO Advisors LLC grew its holdings in shares of Northrop Grumman by 5.9% in the fourth quarter. MONECO Advisors LLC now owns 484 shares of the aerospace company’s stock worth $227,000 after purchasing an additional 27 shares during the last quarter. 83.40% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, VP Benjamin R. Davies sold 192 shares of Northrop Grumman stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $429.08, for a total value of $82,383.36. Following the completion of the sale, the vice president now directly owns 709 shares in the company, valued at approximately $304,217.72. This trade represents a 21.31 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In the last ninety days, insiders sold 291 shares of company stock worth $129,184. 0.22% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the stock. Wolfe Research upgraded shares of Northrop Grumman from an “underperform” rating to a “peer perform” rating in a report on Monday, February 3rd. UBS Group cut their price target on shares of Northrop Grumman from $579.00 to $558.00 and set a “buy” rating on the stock in a report on Friday, January 31st. Susquehanna cut their price target on shares of Northrop Grumman from $625.00 to $557.00 and set a “positive” rating on the stock in a report on Wednesday, January 8th. Citigroup lifted their price target on shares of Northrop Grumman from $587.00 to $591.00 and gave the company a “buy” rating in a report on Monday, February 10th. Finally, Wells Fargo & Company lowered their price objective on Northrop Grumman from $595.00 to $574.00 and set an “overweight” rating for the company in a research report on Friday, January 31st. Nine investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $544.56.

Northrop Grumman Price Performance

NOC opened at $461.03 on Wednesday. The stock has a 50-day moving average price of $469.99 and a 200-day moving average price of $497.05. The company has a debt-to-equity ratio of 0.96, a current ratio of 1.01 and a quick ratio of 0.91. The firm has a market cap of $66.74 billion, a PE ratio of 16.27, a P/E/G ratio of 3.73 and a beta of 0.35. Northrop Grumman Co. has a 1 year low of $418.60 and a 1 year high of $555.57.

Northrop Grumman (NYSE:NOC) last released its quarterly earnings data on Thursday, January 30th. The aerospace company reported $6.39 EPS for the quarter, topping the consensus estimate of $6.27 by $0.12. Northrop Grumman had a return on equity of 26.24% and a net margin of 10.17%. Sell-side analysts predict that Northrop Grumman Co. will post 28.05 earnings per share for the current fiscal year.

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

Northrop Grumman Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 19th. Investors of record on Monday, March 3rd will be issued a $2.06 dividend. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $8.24 annualized dividend and a yield of 1.79%. Northrop Grumman’s payout ratio is 29.08%.

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.