Strategic Planning Group LLC Boosts Stock Holdings in Northrop Grumman Co. (NYSE:NOC)

Strategic Planning Group LLC increased its position in Northrop Grumman Co. (NYSE:NOC) by 2.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 9,060 shares of the aerospace company’s stock after buying an additional 253 shares during the quarter. Strategic Planning Group LLC’s holdings in Northrop Grumman were worth $4,252,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in NOC. Cornell Pochily Investment Advisors Inc. raised its holdings in shares of Northrop Grumman by 0.9% during the third 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 period. Asset Dedication LLC grew its position in shares of Northrop Grumman by 1.0% during 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 during the last quarter. Foundations Investment Advisors LLC raised its stake in Northrop Grumman by 1.4% during the third 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 during the period. PBMares Wealth Management LLC lifted its holdings in Northrop Grumman by 0.5% in the third quarter. PBMares Wealth Management LLC now owns 4,421 shares of the aerospace company’s stock worth $2,335,000 after acquiring an additional 20 shares during the last quarter. Finally, Hudson Valley Investment Advisors Inc. ADV boosted its stake in Northrop Grumman by 0.9% in the third quarter. Hudson Valley Investment Advisors Inc. ADV now owns 2,262 shares of the aerospace company’s stock valued at $1,194,000 after acquiring an additional 20 shares during the period. Institutional investors and hedge funds own 83.40% of the company’s stock.

Insider Activity

In related news, VP Benjamin R. Davies sold 1,156 shares of Northrop Grumman stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $532.93, for a total value of $616,067.08. Following the transaction, the vice president now owns 537 shares of the company’s stock, valued at approximately $286,183.41. This trade represents a 68.28 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In the last quarter, insiders sold 1,255 shares of company stock worth $663,859. Corporate insiders own 0.22% of the company’s stock.

Northrop Grumman Stock Down 1.0 %

Shares of NOC stock opened at $481.56 on Thursday. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.97 and a current ratio of 1.09. The stock has a market cap of $70.16 billion, a PE ratio of 29.84, a price-to-earnings-growth ratio of 0.95 and a beta of 0.35. The business’s fifty day moving average is $478.87 and its 200-day moving average is $497.74. Northrop Grumman Co. has a 1 year low of $418.60 and a 1 year high of $555.57.

Northrop Grumman declared that its board has authorized a stock repurchase program on Wednesday, December 11th that permits the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization permits the aerospace company to purchase up to 4.3% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s board of directors believes its stock is undervalued.

Northrop Grumman Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, December 18th. Shareholders of record on Monday, December 2nd were issued a $2.06 dividend. This represents a $8.24 dividend on an annualized basis and a yield of 1.71%. The ex-dividend date of this dividend was Monday, December 2nd. Northrop Grumman’s payout ratio is 51.05%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on NOC. TD Cowen upgraded Northrop Grumman to a “hold” rating in a research report on Tuesday, October 8th. Barclays dropped 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. StockNews.com raised shares of Northrop Grumman from a “buy” rating to a “strong-buy” rating in a report on Sunday, January 19th. 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 target for the company. Finally, Susquehanna cut their price objective on shares of Northrop Grumman from $625.00 to $557.00 and set a “positive” rating on the stock in a research report on Wednesday, January 8th. Eight analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $550.94.

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.