Vantage Investment Partners LLC Raises Holdings in Northrop Grumman Co. (NYSE:NOC)

Vantage Investment Partners LLC grew its stake in shares of Northrop Grumman Co. (NYSE:NOC) by 0.3% in the 4th quarter, Holdings Channel reports. The firm owned 85,507 shares of the aerospace company’s stock after acquiring an additional 240 shares during the quarter. Northrop Grumman comprises approximately 3.5% of Vantage Investment Partners LLC’s holdings, making the stock its 10th biggest position. Vantage Investment Partners LLC’s holdings in Northrop Grumman were worth $40,128,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Ascent Group LLC grew its stake in Northrop Grumman by 0.5% in the 2nd 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. lifted its holdings in 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 purchasing an additional 20 shares during the last quarter. Asset Dedication LLC grew its holdings in 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 buying an additional 20 shares in the last quarter. Foundations Investment Advisors LLC increased its position in 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 buying an additional 20 shares during the period. Finally, PBMares Wealth Management LLC lifted its holdings in shares of 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 buying an additional 20 shares in the last quarter. 83.40% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Northrop Grumman

In other news, VP Benjamin R. Davies sold 1,156 shares of Northrop Grumman 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 completion of the sale, the vice president now owns 537 shares in the company, valued at $286,183.41. The trade was a 68.28 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Over the last three months, insiders have sold 1,255 shares of company stock valued at $663,859. 0.22% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

NOC has been the topic of several research reports. Susquehanna decreased their price target on shares of Northrop Grumman from $625.00 to $557.00 and set a “positive” rating on the stock in a research note on Wednesday, January 8th. JPMorgan Chase & Co. lifted their price target on shares of Northrop Grumman from $500.00 to $560.00 and gave the company a “neutral” rating in a research report on Monday, October 14th. Wells Fargo & Company upgraded Northrop Grumman from an “equal weight” rating to an “overweight” rating and set a $595.00 price objective on the stock in a research note on Wednesday, January 8th. Truist Financial started coverage on shares of Northrop Grumman in a research report on Tuesday, January 14th. They issued a “buy” rating and a $544.00 target price for the company. Finally, StockNews.com raised Northrop Grumman from a “buy” rating to a “strong-buy” rating in a research note on Sunday, January 19th. Eight research analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. 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 $503.09 on Tuesday. The company has a current ratio of 1.09, a quick ratio of 0.97 and a debt-to-equity ratio of 1.00. The firm’s fifty day simple moving average is $478.66 and its two-hundred day simple moving average is $496.86. Northrop Grumman Co. has a 12 month low of $418.60 and a 12 month high of $555.57. The stock has a market capitalization of $73.30 billion, a P/E ratio of 31.17, a price-to-earnings-growth ratio of 0.95 and a beta of 0.35.

Northrop Grumman declared that its board has initiated a share buyback program on Wednesday, December 11th that authorizes the company to buyback $3.00 billion in outstanding shares. This buyback authorization authorizes the aerospace company to reacquire up to 4.3% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.

Northrop Grumman Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, December 18th. Shareholders of record on Monday, December 2nd were issued a $2.06 dividend. The ex-dividend date was Monday, December 2nd. This represents a $8.24 dividend on an annualized basis and a yield of 1.64%. Northrop Grumman’s payout ratio is currently 51.05%.

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.