Meridian Wealth Management LLC Lowers Holdings in Northrop Grumman Co. (NYSE:NOC)

Meridian Wealth Management LLC trimmed its position in Northrop Grumman Co. (NYSE:NOC) by 0.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,720 shares of the aerospace company’s stock after selling 23 shares during the period. Meridian Wealth Management LLC’s holdings in Northrop Grumman were worth $3,623,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. SBI Securities Co. Ltd. purchased a new stake in shares of Northrop Grumman during the 4th quarter worth $241,000. Jones Financial Companies Lllp boosted its position in shares of Northrop Grumman by 71.7% during the 4th quarter. Jones Financial Companies Lllp now owns 6,023 shares of the aerospace company’s stock worth $2,826,000 after purchasing an additional 2,515 shares in the last quarter. Modera Wealth Management LLC boosted its position in shares of Northrop Grumman by 1.6% during the 4th quarter. Modera Wealth Management LLC now owns 7,974 shares of the aerospace company’s stock worth $3,742,000 after purchasing an additional 122 shares in the last quarter. SRS Capital Advisors Inc. boosted its position in shares of Northrop Grumman by 810.6% during the 4th quarter. SRS Capital Advisors Inc. now owns 856 shares of the aerospace company’s stock worth $402,000 after purchasing an additional 762 shares in the last quarter. Finally, Smartleaf Asset Management LLC boosted its position in shares of Northrop Grumman by 40.6% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,275 shares of the aerospace company’s stock worth $595,000 after purchasing an additional 368 shares in the last quarter. 83.40% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have commented on NOC shares. Argus upgraded shares of Northrop Grumman to a “strong-buy” rating in a research report on Wednesday, February 26th. 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 research note on Wednesday, February 26th. Wolfe Research raised Northrop Grumman from an “underperform” rating to a “peer perform” rating in a research note on Monday, February 3rd. StockNews.com downgraded Northrop Grumman from a “strong-buy” rating to a “buy” rating in a research note on Monday, February 3rd. Finally, Truist Financial began coverage on Northrop Grumman in a research note on Tuesday, January 14th. They set a “buy” rating and a $544.00 price target for the company. Nine equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $542.75.

Insider Transactions at Northrop Grumman

In other Northrop Grumman news, VP Benjamin R. Davies sold 192 shares of the company’s stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $429.08, for a total value of $82,383.36. Following the completion of the transaction, the vice president now owns 709 shares in the company, valued at $304,217.72. This represents a 21.31 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In the last quarter, insiders sold 755 shares of company stock worth $342,972. 0.22% of the stock is currently owned by company insiders.

Northrop Grumman Stock Up 2.6 %

NOC opened at $473.57 on Tuesday. The company has a debt-to-equity ratio of 0.96, a current ratio of 1.01 and a quick ratio of 0.91. The stock has a market capitalization of $68.55 billion, a price-to-earnings ratio of 16.71, a price-to-earnings-growth ratio of 3.73 and a beta of 0.35. The business has a 50-day moving average of $469.56 and a two-hundred day moving average of $495.91. Northrop Grumman Co. has a 12 month low of $418.60 and a 12 month high of $555.57.

Northrop Grumman (NYSE:NOC) last issued its earnings results on Thursday, January 30th. The aerospace company reported $6.39 earnings per share (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%. On average, research analysts expect that Northrop Grumman Co. will post 28.05 earnings per share for the current year.

Northrop Grumman Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 19th. Stockholders of record on Monday, March 3rd will be issued a dividend of $2.06 per share. This represents a $8.24 dividend on an annualized basis and a dividend yield of 1.74%. The ex-dividend date is Monday, March 3rd. Northrop Grumman’s payout ratio is currently 29.08%.

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

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.