Kestra Investment Management LLC Has $276,000 Stake in Northrop Grumman Co. (NYSE:NOC)

Kestra Investment Management LLC reduced its holdings in Northrop Grumman Co. (NYSE:NOC) by 9.0% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 587 shares of the aerospace company’s stock after selling 58 shares during the quarter. Kestra Investment Management LLC’s holdings in Northrop Grumman were worth $276,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of NOC. RPg Family Wealth Advisory LLC bought a new position in shares of Northrop Grumman in the 3rd quarter worth $31,000. Albion Financial Group UT acquired a new position in Northrop Grumman in the fourth quarter valued at about $33,000. FSA Wealth Management LLC bought a new position in Northrop Grumman during the third quarter worth about $36,000. Modus Advisors LLC acquired a new position in shares of Northrop Grumman during the 4th quarter worth about $38,000. Finally, Catalyst Capital Advisors LLC bought a new stake in shares of Northrop Grumman in the 3rd quarter valued at about $40,000. 83.40% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of brokerages recently issued reports on NOC. Truist Financial began coverage on shares of Northrop Grumman in a report on Tuesday, January 14th. They set a “buy” rating and a $544.00 price objective for the company. Barclays lowered their price objective on shares of Northrop Grumman from $550.00 to $500.00 and set an “equal weight” rating for the company in a research report on Monday, January 6th. Susquehanna decreased their target price 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. UBS Group dropped their price target on Northrop Grumman from $579.00 to $558.00 and set a “buy” rating on the stock in a research report on Friday, January 31st. Finally, Citigroup boosted their price objective on Northrop Grumman from $587.00 to $591.00 and gave the company a “buy” rating in a research report on Monday, February 10th. Nine investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, Northrop Grumman presently has an average rating of “Moderate Buy” and an average price target of $544.56.

Northrop Grumman Stock Down 1.8 %

Shares of NOC stock opened at $433.63 on Thursday. The firm’s fifty day moving average price is $472.52 and its two-hundred day moving average price is $498.17. The company has a current ratio of 1.01, a quick ratio of 0.91 and a debt-to-equity ratio of 0.96. Northrop Grumman Co. has a 1 year low of $418.60 and a 1 year high of $555.57. The firm has a market capitalization of $62.77 billion, a P/E ratio of 15.30, a PEG ratio of 3.73 and a beta of 0.35.

Northrop Grumman (NYSE:NOC) last released its earnings results 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 return on equity of 26.24% and a net margin of 10.17%. On average, equities analysts predict that Northrop Grumman Co. will post 28.05 EPS for the current fiscal year.

Northrop Grumman Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 19th. Stockholders of record on Monday, March 3rd will be issued a $2.06 dividend. This represents a $8.24 annualized dividend and a dividend yield of 1.90%. The ex-dividend date is Monday, March 3rd. Northrop Grumman’s payout ratio is presently 29.08%.

Northrop Grumman announced that its board has initiated a stock buyback program on Wednesday, December 11th that permits the company to buyback $3.00 billion in outstanding shares. This buyback authorization permits the aerospace company to repurchase up to 4.3% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s management believes its stock is undervalued.

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.