Verus Capital Partners LLC Boosts Position in Northrop Grumman Co. (NYSE:NOC)

Verus Capital Partners LLC grew its position in Northrop Grumman Co. (NYSE:NOC) by 0.2% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 16,030 shares of the aerospace company’s stock after purchasing an additional 31 shares during the period. Northrop Grumman makes up 0.7% of Verus Capital Partners LLC’s holdings, making the stock its 24th biggest position. Verus Capital Partners LLC’s holdings in Northrop Grumman were worth $7,523,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Hudson Valley Investment Advisors Inc. ADV increased its holdings in Northrop Grumman by 0.9% during the 3rd quarter. Hudson Valley Investment Advisors Inc. ADV now owns 2,262 shares of the aerospace company’s stock valued at $1,194,000 after acquiring an additional 20 shares in the last quarter. Meeder Advisory Services Inc. increased 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 purchasing 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 3rd 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 last quarter. Sapient Capital LLC lifted its stake in Northrop Grumman by 1.1% in the 4th quarter. Sapient Capital LLC now owns 2,049 shares of the aerospace company’s stock valued at $962,000 after buying an additional 22 shares in the last quarter. Finally, Bank Pictet & Cie Europe AG grew its holdings in Northrop Grumman by 2.2% during the 4th quarter. Bank Pictet & Cie Europe AG now owns 1,006 shares of the aerospace company’s stock valued at $472,000 after buying an additional 22 shares during the last quarter. Institutional investors and hedge funds own 83.40% of the company’s stock.

Northrop Grumman Stock Up 1.1 %

Shares of NYSE NOC opened at $459.90 on Friday. The business has a fifty day moving average of $469.59 and a two-hundred day moving average of $496.50. 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 Co. has a 52-week low of $418.60 and a 52-week high of $555.57. The stock has a market cap of $66.57 billion, a PE ratio of 16.23, a PEG ratio of 3.73 and a beta of 0.35.

Northrop Grumman (NYSE:NOC) last posted its quarterly earnings data on Thursday, January 30th. The aerospace company reported $6.39 EPS for the quarter, topping 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%. As a group, equities research analysts expect 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 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 stock through open market purchases. Stock buyback programs are typically an indication that the company’s management believes its stock is undervalued.

Northrop Grumman Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 19th. Investors of record on Monday, March 3rd will be given a $2.06 dividend. The ex-dividend date is Monday, March 3rd. This represents a $8.24 dividend on an annualized basis and a yield of 1.79%. Northrop Grumman’s payout ratio is 29.08%.

Insiders Place Their Bets

In other Northrop Grumman news, VP Benjamin R. Davies sold 192 shares of the company’s stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $429.08, for a total transaction of $82,383.36. Following the completion of the sale, the vice president now owns 709 shares in the company, valued at approximately $304,217.72. The trade was a 21.31 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In the last three months, insiders sold 291 shares of company stock valued at $129,184. 0.22% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on NOC shares. Wells Fargo & Company cut their price target on Northrop Grumman from $574.00 to $545.00 and set an “overweight” rating for the company in a report on Wednesday. StockNews.com downgraded shares of Northrop Grumman from a “strong-buy” rating to a “buy” rating in a research note on Monday, February 3rd. Citigroup raised their price target on shares of Northrop Grumman from $587.00 to $591.00 and gave the stock a “buy” rating in a research note on Monday, February 10th. UBS Group cut their price objective 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. Finally, Truist Financial began coverage on shares of Northrop Grumman in a research note on Tuesday, January 14th. They set a “buy” rating and a $544.00 price objective on the stock. Nine analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $542.75.

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.