Stokes Capital Advisors LLC Has $7.22 Million Position in Northrop Grumman Co. (NYSE:NOC)

Stokes Capital Advisors LLC boosted its holdings in shares of Northrop Grumman Co. (NYSE:NOC) by 3.4% in the fourth quarter, Holdings Channel.com reports. The fund owned 15,377 shares of the aerospace company’s stock after buying an additional 508 shares during the quarter. Northrop Grumman comprises 1.9% of Stokes Capital Advisors LLC’s holdings, making the stock its 23rd largest holding. Stokes Capital Advisors LLC’s holdings in Northrop Grumman were worth $7,216,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Wellington Management Group LLP boosted its stake in Northrop Grumman by 0.4% during the 3rd quarter. Wellington Management Group LLP now owns 4,140,892 shares of the aerospace company’s stock worth $2,186,681,000 after acquiring an additional 17,596 shares during the last quarter. Geode Capital Management LLC raised its holdings in Northrop Grumman by 0.6% in the third quarter. Geode Capital Management LLC now owns 3,003,360 shares of the aerospace company’s stock worth $1,581,644,000 after purchasing an additional 18,791 shares during the period. Franklin Resources Inc. raised its holdings in Northrop Grumman by 6.2% in the third quarter. Franklin Resources Inc. now owns 2,426,270 shares of the aerospace company’s stock worth $1,315,729,000 after purchasing an additional 141,816 shares during the period. Legal & General Group Plc boosted its position in shares of Northrop Grumman by 16.0% during the second quarter. Legal & General Group Plc now owns 1,087,913 shares of the aerospace company’s stock worth $474,276,000 after purchasing an additional 150,367 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in shares of Northrop Grumman by 0.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 809,445 shares of the aerospace company’s stock valued at $427,444,000 after buying an additional 3,211 shares during the period. Institutional investors own 83.40% of the company’s stock.

Northrop Grumman Trading Up 0.3 %

NOC stock opened at $482.49 on Monday. The stock has a market cap of $70.30 billion, a price-to-earnings ratio of 29.89, a price-to-earnings-growth ratio of 0.87 and a beta of 0.35. The company has a fifty day moving average price of $480.55 and a two-hundred day moving average price of $494.10. Northrop Grumman Co. has a one year low of $418.60 and a one year high of $555.57. The company has a debt-to-equity ratio of 1.00, a current ratio of 1.09 and a quick ratio of 0.97.

Northrop Grumman (NYSE:NOC) last announced its earnings results on Thursday, October 24th. The aerospace company reported $7.00 EPS for the quarter, topping the consensus estimate of $6.07 by $0.93. The business had revenue of $10 billion during the quarter, compared to the consensus estimate of $10.18 billion. Northrop Grumman had a net margin of 5.79% and a return on equity of 26.57%. Northrop Grumman’s revenue was up 2.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $6.18 EPS. Equities analysts anticipate that Northrop Grumman Co. will post 25.93 EPS for the current year.

Northrop Grumman declared that its Board of Directors has approved a stock buyback program on Wednesday, December 11th that allows the company to buyback $3.00 billion in outstanding shares. This buyback authorization allows the aerospace company to purchase up to 4.3% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s management believes its shares are undervalued.

Northrop Grumman Dividend Announcement

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

Insider Activity at Northrop Grumman

In other Northrop Grumman news, VP Benjamin R. Davies sold 1,156 shares of Northrop Grumman stock in a transaction dated 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders sold 1,255 shares of company stock worth $663,859 in the last ninety days. 0.22% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of research firms have issued reports on NOC. JPMorgan Chase & Co. boosted their target price on Northrop Grumman from $500.00 to $560.00 and gave the company a “neutral” rating in a research note on Monday, October 14th. Barclays dropped their price target on Northrop Grumman from $550.00 to $500.00 and set an “equal weight” rating on the stock in a research note on Monday, January 6th. Truist Financial started coverage on Northrop Grumman in a research note on Tuesday, January 14th. They issued a “buy” rating and a $544.00 target price on the stock. Royal Bank of Canada boosted their price objective on shares of Northrop Grumman from $500.00 to $540.00 and gave the stock a “sector perform” rating in a research report on Friday, October 25th. Finally, TD Cowen raised Northrop Grumman to a “hold” rating in a research report on Tuesday, October 8th. Nine research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Northrop Grumman has a consensus rating of “Moderate Buy” and an average price target of $550.94.

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.