Asio Capital LLC Has $2.92 Million Stock Holdings in Northrop Grumman Co. (NYSE:NOC)

Asio Capital LLC increased its holdings in shares of Northrop Grumman Co. (NYSE:NOC) by 0.6% in the fourth quarter, HoldingsChannel reports. The firm owned 6,228 shares of the aerospace company’s stock after buying an additional 35 shares during the period. Asio Capital LLC’s holdings in Northrop Grumman were worth $2,923,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Grimes & Company Inc. grew its stake in Northrop Grumman by 68.8% in the 4th quarter. Grimes & Company Inc. now owns 932 shares of the aerospace company’s stock valued at $437,000 after buying an additional 380 shares during the last quarter. Cyndeo Wealth Partners LLC boosted its stake in Northrop Grumman by 5.4% in the 4th quarter. Cyndeo Wealth Partners LLC now owns 978 shares of the aerospace company’s stock valued at $459,000 after purchasing an additional 50 shares during the period. Geneos Wealth Management Inc. lifted its holdings in shares of Northrop Grumman by 9.8% during the fourth quarter. Geneos Wealth Management Inc. now owns 2,049 shares of the aerospace company’s stock worth $962,000 after buying an additional 183 shares in the last quarter. Pflug Koory LLC grew its stake in shares of Northrop Grumman by 0.7% in the fourth quarter. Pflug Koory LLC now owns 3,370 shares of the aerospace company’s stock valued at $1,582,000 after acquiring an additional 24 shares in the last quarter. Finally, Eclectic Associates Inc. ADV acquired a new stake in Northrop Grumman in the 4th quarter worth about $1,489,000. Institutional investors own 83.40% of the company’s stock.

Insider Transactions at Northrop Grumman

In other Northrop Grumman news, VP Benjamin R. Davies sold 1,156 shares of the company’s stock in a transaction on Monday, November 11th. The shares were sold at an average price of $532.93, for a total transaction of $616,067.08. Following the transaction, the vice president now owns 537 shares in the company, valued at approximately $286,183.41. This represents a 68.28 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders have sold 1,255 shares of company stock valued at $663,859 in the last 90 days. 0.22% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the company. Citigroup upgraded Northrop Grumman from a “neutral” rating to a “buy” rating and set a $587.00 price target for the company in a research note on Tuesday, January 21st. UBS Group raised their target price on shares of Northrop Grumman from $614.00 to $643.00 and gave the company a “buy” rating in a report on Friday, October 25th. Susquehanna lowered their price objective 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. JPMorgan Chase & Co. boosted their price target on Northrop Grumman from $500.00 to $560.00 and gave the stock a “neutral” rating in a report on Monday, October 14th. Finally, Wells Fargo & Company upgraded shares of Northrop Grumman from an “equal weight” rating to an “overweight” rating and set a $595.00 price target on the stock in a research note on Wednesday, January 8th. Eight research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Northrop Grumman has an average rating of “Moderate Buy” and a consensus price target of $550.94.

Northrop Grumman Trading Down 0.5 %

NYSE NOC opened at $497.13 on Friday. The stock has a market capitalization of $72.43 billion, a P/E ratio of 30.80, a P/E/G ratio of 0.95 and a beta of 0.35. The business has a 50 day simple moving average of $478.66 and a 200 day simple moving average of $495.86. 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 Co. has a one year low of $418.60 and a one year high of $555.57.

Northrop Grumman (NYSE:NOC) last released its quarterly earnings data on Thursday, October 24th. The aerospace company reported $7.00 earnings per share for the quarter, beating the consensus estimate of $6.07 by $0.93. The company had revenue of $10 billion during the quarter, compared to analyst estimates 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 for the quarter was up 2.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $6.18 EPS. Research analysts expect that Northrop Grumman Co. will post 25.96 earnings per share for the current year.

Northrop Grumman announced that its board has authorized a share buyback program on Wednesday, December 11th that allows the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization allows the aerospace company to buy up to 4.3% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.

Northrop Grumman Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, December 18th. Stockholders 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 dividend yield of 1.66%. Northrop Grumman’s dividend payout ratio 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.