Lockerman Financial Group Inc. Has $678,000 Stock Position in Northrop Grumman Co. (NYSE:NOC)

Lockerman Financial Group Inc. cut its holdings in shares of Northrop Grumman Co. (NYSE:NOC) by 7.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,444 shares of the aerospace company’s stock after selling 108 shares during the period. Northrop Grumman makes up approximately 1.2% of Lockerman Financial Group Inc.’s investment portfolio, making the stock its 27th largest holding. Lockerman Financial Group Inc.’s holdings in Northrop Grumman were worth $678,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in NOC. ARS Investment Partners LLC raised its holdings in shares of Northrop Grumman by 3.3% during the fourth quarter. ARS Investment Partners LLC now owns 21,667 shares of the aerospace company’s stock worth $10,168,000 after acquiring an additional 700 shares during the period. ZWJ Investment Counsel Inc. lifted its holdings in shares of Northrop Grumman by 1.3% in the fourth quarter. ZWJ Investment Counsel Inc. now owns 101,282 shares of the aerospace company’s stock valued at $47,531,000 after purchasing an additional 1,321 shares in the last quarter. Pure Financial Advisors LLC lifted its holdings in shares of Northrop Grumman by 11.9% in the fourth quarter. Pure Financial Advisors LLC now owns 4,404 shares of the aerospace company’s stock valued at $2,067,000 after purchasing an additional 469 shares in the last quarter. Tudor Financial Inc. boosted its position in shares of Northrop Grumman by 1.2% during the fourth quarter. Tudor Financial Inc. now owns 2,165 shares of the aerospace company’s stock worth $1,016,000 after buying an additional 25 shares during the period. Finally, New Hampshire Trust grew its holdings in shares of Northrop Grumman by 1.7% during the fourth quarter. New Hampshire Trust now owns 5,322 shares of the aerospace company’s stock worth $2,498,000 after buying an additional 87 shares in the last quarter. 83.40% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related 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 of the company’s stock, valued at approximately $286,183.41. This trade represents a 68.28 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In the last ninety days, insiders sold 1,255 shares of company stock worth $663,859. Company insiders own 0.22% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on NOC. Truist Financial assumed coverage on shares of Northrop Grumman in a research note on Tuesday, January 14th. They issued a “buy” rating and a $544.00 price target on the stock. JPMorgan Chase & Co. upped their target price on shares of Northrop Grumman from $500.00 to $560.00 and gave the company a “neutral” rating in a report on Monday, October 14th. Barclays reduced their price target on Northrop Grumman from $550.00 to $500.00 and set an “equal weight” rating for the company in a report on Monday, January 6th. TD Cowen upgraded Northrop Grumman to a “hold” rating in a research note on Tuesday, October 8th. Finally, Susquehanna decreased their price objective on shares of Northrop Grumman from $625.00 to $557.00 and set a “positive” rating on the stock in a report on Wednesday, January 8th. Nine analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $550.94.

Northrop Grumman Price Performance

NOC stock opened at $482.49 on Tuesday. Northrop Grumman Co. has a 1 year low of $418.60 and a 1 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. The stock has a market cap of $70.30 billion, a price-to-earnings ratio of 29.89, a P/E/G ratio of 0.91 and a beta of 0.35. The company has a 50 day simple moving average of $480.55 and a 200 day simple moving average of $494.51.

Northrop Grumman (NYSE:NOC) last released its quarterly earnings results on Thursday, October 24th. The aerospace company reported $7.00 earnings per share for the quarter, topping the consensus estimate of $6.07 by $0.93. Northrop Grumman had a return on equity of 26.57% and a net margin of 5.79%. The company had revenue of $10 billion for the quarter, compared to analysts’ expectations of $10.18 billion. During the same period in the previous year, the business posted $6.18 earnings per share. The business’s quarterly revenue was up 2.3% compared to the same quarter last year. Research analysts anticipate that Northrop Grumman Co. will post 25.95 EPS for the current fiscal year.

Northrop Grumman announced that its Board of Directors has initiated a stock buyback program on Wednesday, December 11th that authorizes the company to buyback $3.00 billion in shares. This buyback authorization authorizes the aerospace company to buy up to 4.3% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s leadership believes its stock is undervalued.

Northrop Grumman Announces Dividend

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

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.