Perigon Wealth Management LLC Has $1.29 Million Holdings in Northrop Grumman Co. (NYSE:NOC)

Perigon Wealth Management LLC increased its holdings in shares of Northrop Grumman Co. (NYSE:NOC) by 5.5% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,685 shares of the aerospace company’s stock after purchasing an additional 140 shares during the quarter. Perigon Wealth Management LLC’s holdings in Northrop Grumman were worth $1,292,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the business. Wellington Management Group LLP boosted its stake in shares of Northrop Grumman by 0.4% during the 3rd quarter. Wellington Management Group LLP now owns 4,140,892 shares of the aerospace company’s stock worth $2,186,681,000 after buying an additional 17,596 shares during the last quarter. Geode Capital Management LLC grew its stake in Northrop Grumman by 0.6% in the third quarter. Geode Capital Management LLC now owns 3,003,360 shares of the aerospace company’s stock valued at $1,581,644,000 after purchasing an additional 18,791 shares in the last quarter. Franklin Resources Inc. increased its position in shares of Northrop Grumman by 6.2% during the 3rd quarter. Franklin Resources Inc. now owns 2,426,270 shares of the aerospace company’s stock worth $1,315,729,000 after purchasing an additional 141,816 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of Northrop Grumman by 0.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 809,445 shares of the aerospace company’s stock worth $427,444,000 after purchasing an additional 3,211 shares in the last quarter. Finally, Two Sigma Advisers LP boosted its holdings in shares of Northrop Grumman by 102.6% in the 3rd quarter. Two Sigma Advisers LP now owns 735,600 shares of the aerospace company’s stock valued at $388,448,000 after buying an additional 372,500 shares during the last quarter. 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 business’s stock in a transaction that occurred 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 completion of the transaction, the vice president now directly owns 537 shares in the company, valued at $286,183.41. The trade was a 68.28 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In the last 90 days, insiders sold 1,255 shares of company stock valued at $663,859. Company insiders own 0.22% of the company’s stock.

Northrop Grumman Stock Performance

Shares of NYSE:NOC opened at $483.70 on Friday. The company has a quick ratio of 0.97, a current ratio of 1.09 and a debt-to-equity ratio of 1.00. Northrop Grumman Co. has a 12-month low of $418.60 and a 12-month high of $555.57. The company’s 50 day moving average price is $478.66 and its two-hundred day moving average price is $497.63. The firm has a market cap of $70.48 billion, a PE ratio of 29.97, a PEG ratio of 0.95 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 26.57% and a net margin of 5.79%. Equities research analysts predict that Northrop Grumman Co. will post 25.96 earnings per share for the current year.

Northrop Grumman announced that its board has authorized a stock repurchase plan on Wednesday, December 11th that allows the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization allows the aerospace company to purchase up to 4.3% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s leadership believes its stock is undervalued.

Northrop Grumman Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, December 18th. Stockholders of record on Monday, December 2nd were given a $2.06 dividend. This represents a $8.24 annualized dividend and a dividend yield of 1.70%. The ex-dividend date of this dividend was Monday, December 2nd. Northrop Grumman’s payout ratio is presently 51.05%.

Wall Street Analyst Weigh In

Several research firms have issued reports on NOC. JPMorgan Chase & Co. upped their price target 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. Citigroup upgraded Northrop Grumman from a “neutral” rating to a “buy” rating and set a $587.00 price target for the company in a report on Tuesday, January 21st. TD Cowen upgraded Northrop Grumman to a “hold” rating in a research note on Tuesday, October 8th. StockNews.com upgraded Northrop Grumman from a “buy” rating to a “strong-buy” rating in a research note on Sunday, January 19th. Finally, Royal Bank of Canada increased their price target on Northrop Grumman from $500.00 to $540.00 and gave the company a “sector perform” rating in a research note on Friday, October 25th. Eight equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $550.94.

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.