Kestra Private Wealth Services LLC Boosts Holdings in Northrop Grumman Co. (NYSE:NOC)

Kestra Private Wealth Services LLC lifted its stake in Northrop Grumman Co. (NYSE:NOC) by 62.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,877 shares of the aerospace company’s stock after buying an additional 3,404 shares during the period. Kestra Private Wealth Services LLC’s holdings in Northrop Grumman were worth $4,166,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Stephens Inc. AR grew its position in Northrop Grumman by 2.7% during the 4th quarter. Stephens Inc. AR now owns 12,856 shares of the aerospace company’s stock worth $6,033,000 after purchasing an additional 343 shares during the last quarter. Richard C. Young & CO. LTD. acquired a new stake in shares of Northrop Grumman in the fourth quarter valued at about $6,557,000. Stoneridge Investment Partners LLC acquired a new stake in shares of Northrop Grumman in the fourth quarter valued at about $2,105,000. Empowered Funds LLC lifted its stake in shares of Northrop Grumman by 21.9% in the fourth quarter. Empowered Funds LLC now owns 12,196 shares of the aerospace company’s stock valued at $5,723,000 after purchasing an additional 2,193 shares during the period. Finally, Wilmington Savings Fund Society FSB raised its position in Northrop Grumman by 2.1% during the fourth quarter. Wilmington Savings Fund Society FSB now owns 2,619 shares of the aerospace company’s stock worth $1,229,000 after acquiring an additional 53 shares during the last quarter. 83.40% of the stock is owned by hedge funds and other institutional investors.

Northrop Grumman Price Performance

Northrop Grumman stock opened at $473.94 on Tuesday. Northrop Grumman Co. has a 1 year low of $418.60 and a 1 year high of $555.57. The firm has a 50 day moving average price of $476.91 and a 200 day moving average price of $500.01. The company has a market cap of $68.61 billion, a price-to-earnings ratio of 16.72, a PEG ratio of 3.00 and a beta of 0.35. 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 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 net margin of 10.17% and a return on equity of 26.24%. Sell-side analysts predict that Northrop Grumman Co. will post 27.94 earnings per share for the current year.

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

Northrop Grumman Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, December 18th. Shareholders of record on Monday, December 2nd were paid 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 1.74%. Northrop Grumman’s dividend payout ratio is currently 29.08%.

Analysts Set New Price Targets

NOC has been the subject of a number of research reports. Wolfe Research upgraded shares of Northrop Grumman from an “underperform” rating to a “peer perform” rating in a research report on Monday, February 3rd. JPMorgan Chase & Co. lifted their target price on shares of Northrop Grumman from $500.00 to $560.00 and gave the stock a “neutral” rating in a research report on Monday, October 14th. UBS Group cut their target price on shares of Northrop Grumman from $579.00 to $558.00 and set a “buy” rating for the company in a research report on Friday, January 31st. Susquehanna cut their target price on shares of Northrop Grumman from $625.00 to $557.00 and set a “positive” rating for the company in a research report on Wednesday, January 8th. Finally, StockNews.com downgraded shares of Northrop Grumman from a “strong-buy” rating to a “buy” rating in a report on Monday, February 3rd. Nine investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $544.56.

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.