Northrop Grumman Co. (NYSE:NOC) Shares Bought by VELA Investment Management LLC

VELA Investment Management LLC grew its holdings in shares of Northrop Grumman Co. (NYSE:NOC) by 1.1% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,403 shares of the aerospace company’s stock after purchasing an additional 68 shares during the period. Northrop Grumman comprises about 0.8% of VELA Investment Management LLC’s portfolio, making the stock its 27th biggest position. VELA Investment Management LLC’s holdings in Northrop Grumman were worth $3,005,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in the business. Hudson Valley Investment Advisors Inc. ADV boosted its holdings in Northrop Grumman by 0.9% in the third quarter. Hudson Valley Investment Advisors Inc. ADV now owns 2,262 shares of the aerospace company’s stock valued at $1,194,000 after purchasing an additional 20 shares during the period. Meeder Advisory Services Inc. boosted its stake in shares of Northrop Grumman by 0.9% in the 3rd quarter. Meeder Advisory Services Inc. now owns 2,288 shares of the aerospace company’s stock valued at $1,208,000 after buying an additional 20 shares during the period. Thompson Siegel & Walmsley LLC boosted its stake in shares of Northrop Grumman by 0.3% in the 3rd quarter. Thompson Siegel & Walmsley LLC now owns 8,320 shares of the aerospace company’s stock valued at $4,394,000 after buying an additional 21 shares during the period. Sapient Capital LLC grew its position in shares of Northrop Grumman by 1.1% during the fourth quarter. Sapient Capital LLC now owns 2,049 shares of the aerospace company’s stock worth $962,000 after buying an additional 22 shares in the last quarter. Finally, Bank Pictet & Cie Europe AG raised its holdings in Northrop Grumman by 2.2% in the fourth quarter. Bank Pictet & Cie Europe AG now owns 1,006 shares of the aerospace company’s stock valued at $472,000 after acquiring an additional 22 shares in the last quarter. 83.40% of the stock is currently owned by institutional investors and hedge funds.

Northrop Grumman Stock Performance

Shares of NOC opened at $459.90 on Friday. The company’s 50 day simple moving average is $469.59 and its 200-day simple moving average is $496.50. Northrop Grumman Co. has a 12-month low of $418.60 and a 12-month high of $555.57. The firm has a market cap of $66.57 billion, a PE ratio of 16.23, a price-to-earnings-growth ratio of 3.73 and a beta of 0.35. The company has a current ratio of 1.01, a quick ratio of 0.91 and a debt-to-equity ratio of 0.96.

Northrop Grumman (NYSE:NOC) last issued its quarterly earnings data on Thursday, January 30th. The aerospace company reported $6.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.27 by $0.12. Northrop Grumman had a net margin of 10.17% and a return on equity of 26.24%. As a group, equities analysts predict that Northrop Grumman Co. will post 28.05 EPS for the current year.

Northrop Grumman declared that its board has initiated a stock repurchase program on Wednesday, December 11th that permits the company to buyback $3.00 billion in shares. This buyback authorization permits the aerospace company to purchase up to 4.3% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s leadership believes its stock is undervalued.

Northrop Grumman Announces Dividend

The business also recently declared 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. This represents a $8.24 annualized dividend and a yield of 1.79%. The ex-dividend date is Monday, March 3rd. Northrop Grumman’s dividend payout ratio (DPR) is presently 29.08%.

Insiders Place Their Bets

In other 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 transaction of $82,383.36. Following the completion of the sale, the vice president now owns 709 shares in the company, valued at $304,217.72. This represents a 21.31 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In the last ninety days, insiders sold 291 shares of company stock valued at $129,184. 0.22% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. Wolfe Research upgraded shares of Northrop Grumman from an “underperform” rating to a “peer perform” rating in a report on Monday, February 3rd. Wells Fargo & Company decreased their price objective on shares of Northrop Grumman from $574.00 to $545.00 and set an “overweight” rating for the company in a research report on Wednesday. UBS Group dropped their target price 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 initiated coverage on Northrop Grumman in a report on Tuesday, January 14th. They set a “buy” rating and a $544.00 price target for the company. Finally, Susquehanna dropped their price objective on Northrop Grumman from $625.00 to $557.00 and set a “positive” rating on the stock in a report on Wednesday, January 8th. Nine analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $542.75.

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.