Concurrent Investment Advisors LLC Has $962,000 Stock Holdings in Northrop Grumman Co. (NYSE:NOC)

Concurrent Investment Advisors LLC lifted its stake in shares of Northrop Grumman Co. (NYSE:NOC) by 1.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,050 shares of the aerospace company’s stock after acquiring an additional 24 shares during the quarter. Concurrent Investment Advisors LLC’s holdings in Northrop Grumman were worth $962,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Two Sigma Advisers LP raised its holdings in Northrop Grumman by 102.6% during the 3rd quarter. Two Sigma Advisers LP now owns 735,600 shares of the aerospace company’s stock worth $388,448,000 after purchasing an additional 372,500 shares during the last quarter. Franklin Resources Inc. increased its position in shares of Northrop Grumman by 6.2% during the third quarter. Franklin Resources Inc. now owns 2,426,270 shares of the aerospace company’s stock worth $1,315,729,000 after buying an additional 141,816 shares during the period. Wedge Capital Management L L P NC bought a new position in Northrop Grumman during the fourth quarter worth $66,171,000. International Assets Investment Management LLC acquired a new position in Northrop Grumman in the fourth quarter valued at $622,000. Finally, National Bank of Canada FI boosted its position in Northrop Grumman by 154.7% during the third quarter. National Bank of Canada FI now owns 157,601 shares of the aerospace company’s stock valued at $83,224,000 after acquiring an additional 95,724 shares during the last quarter. 83.40% of the stock is owned by institutional investors and hedge funds.

Northrop Grumman Trading Up 2.4 %

NOC opened at $448.59 on Friday. Northrop Grumman Co. has a fifty-two week low of $418.60 and a fifty-two week high of $555.57. The firm has a market capitalization of $64.94 billion, a PE ratio of 15.83, a P/E/G ratio of 3.73 and a beta of 0.35. 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 company’s 50-day moving average is $471.03 and its 200 day moving average is $497.52.

Northrop Grumman (NYSE:NOC) last issued its quarterly earnings data on Thursday, January 30th. The aerospace company reported $6.39 EPS for the quarter, topping the consensus estimate 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, research analysts predict 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 share repurchase plan on Wednesday, December 11th that permits the company to buyback $3.00 billion in outstanding shares. This buyback authorization permits the aerospace company to purchase up to 4.3% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s board of directors believes its shares are undervalued.

Northrop Grumman Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 19th. Shareholders 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 yield of 1.84%. The ex-dividend date of this dividend is Monday, March 3rd. Northrop Grumman’s dividend payout ratio is 29.08%.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on NOC. StockNews.com lowered Northrop Grumman from a “strong-buy” rating to a “buy” rating in a research report on Monday, February 3rd. Citigroup lifted their target price on Northrop Grumman from $587.00 to $591.00 and gave the stock a “buy” rating in a report on Monday, February 10th. UBS Group cut their price target on Northrop Grumman from $579.00 to $558.00 and set a “buy” rating on the stock in a report on Friday, January 31st. Truist Financial started coverage on shares of Northrop Grumman in a research note on Tuesday, January 14th. They issued a “buy” rating and a $544.00 price objective for the company. Finally, Wolfe Research upgraded shares of Northrop Grumman from an “underperform” rating to a “peer perform” rating in a research report on Monday, February 3rd. Nine equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, Northrop Grumman presently 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.