Moran Wealth Management LLC Increases Position in Northrop Grumman Co. (NYSE:NOC)

Moran Wealth Management LLC increased its holdings in Northrop Grumman Co. (NYSE:NOC) by 7.3% during the 4th quarter, HoldingsChannel reports. The fund owned 53,064 shares of the aerospace company’s stock after acquiring an additional 3,633 shares during the quarter. Northrop Grumman comprises approximately 0.8% of Moran Wealth Management LLC’s investment portfolio, making the stock its 27th largest holding. Moran Wealth Management LLC’s holdings in Northrop Grumman were worth $24,902,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Meeder Advisory Services Inc. boosted its stake in shares of Northrop Grumman by 0.9% during the 3rd quarter. Meeder Advisory Services Inc. now owns 2,288 shares of the aerospace company’s stock worth $1,208,000 after acquiring an additional 20 shares in the last quarter. Thompson Siegel & Walmsley LLC raised its position in shares of Northrop Grumman by 0.3% during the third quarter. Thompson Siegel & Walmsley LLC now owns 8,320 shares of the aerospace company’s stock worth $4,394,000 after purchasing an additional 21 shares during the period. Sapient Capital LLC lifted its holdings in shares of Northrop Grumman by 1.1% during the fourth quarter. Sapient Capital LLC now owns 2,049 shares of the aerospace company’s stock valued at $962,000 after purchasing an additional 22 shares during the last quarter. Bank Pictet & Cie Europe AG boosted its position in shares of Northrop Grumman by 2.2% in the 4th quarter. Bank Pictet & Cie Europe AG now owns 1,006 shares of the aerospace company’s stock valued at $472,000 after purchasing an additional 22 shares during the period. Finally, Mather Group LLC. increased its stake in Northrop Grumman by 2.6% in the 4th quarter. Mather Group LLC. now owns 900 shares of the aerospace company’s stock worth $422,000 after purchasing an additional 23 shares in the last quarter. Hedge funds and other institutional investors own 83.40% of the company’s stock.

Northrop Grumman Trading Up 2.5 %

Shares of NYSE NOC opened at $487.22 on Monday. The business has a 50 day simple moving average of $469.88 and a 200 day simple moving average of $495.03. Northrop Grumman Co. has a 52 week low of $418.60 and a 52 week high of $555.57. The stock has a market cap of $70.53 billion, a price-to-earnings ratio of 17.19, a PEG ratio of 3.73 and a beta of 0.31. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.91 and a current ratio of 1.01.

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

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

Northrop Grumman Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, March 19th. Shareholders of record on Monday, March 3rd will be issued a dividend of $2.06 per share. The ex-dividend date is Monday, March 3rd. This represents a $8.24 annualized dividend and a yield of 1.69%. Northrop Grumman’s dividend payout ratio (DPR) is currently 29.08%.

Insiders Place Their Bets

In other Northrop Grumman news, CEO Kathy J. Warden sold 3,750 shares of the stock in a transaction that occurred on Thursday, March 6th. The stock was sold at an average price of $475.65, for a total transaction of $1,783,687.50. Following the transaction, the chief executive officer now owns 212,852 shares in the company, valued at $101,243,053.80. This trade represents a 1.73 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP Benjamin R. Davies sold 464 shares of the business’s stock in a transaction on Friday, February 28th. The stock was sold at an average price of $460.75, for a total transaction of $213,788.00. Following the completion of the sale, the vice president now owns 245 shares of the company’s stock, valued at $112,883.75. The trade was a 65.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 4,505 shares of company stock valued at $2,126,405 over the last quarter. Insiders own 0.22% of the company’s stock.

Analyst Ratings Changes

A number of analysts have commented on NOC shares. Susquehanna reduced their price objective on shares of Northrop Grumman from $625.00 to $557.00 and set a “positive” rating for the company in a research note on Wednesday, January 8th. StockNews.com downgraded shares of Northrop Grumman from a “strong-buy” rating to a “buy” rating in a research report on Monday, February 3rd. Wolfe Research upgraded shares of Northrop Grumman from an “underperform” rating to a “peer perform” rating in a research report on Monday, February 3rd. Truist Financial began coverage on Northrop Grumman in a report on Tuesday, January 14th. They issued a “buy” rating and a $544.00 target price for the company. Finally, Wells Fargo & Company lifted their price target on Northrop Grumman from $545.00 to $547.00 and gave the company an “overweight” rating in a report on Friday. Nine equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $542.88.

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.