SVB Wealth LLC Takes Position in Northrop Grumman Co. (NYSE:NOC)

SVB Wealth LLC acquired a new position in Northrop Grumman Co. (NYSE:NOC) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 3,686 shares of the aerospace company’s stock, valued at approximately $1,730,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. RPg Family Wealth Advisory LLC bought a new position in Northrop Grumman in the 3rd quarter worth approximately $31,000. Whipplewood Advisors LLC bought a new position in Northrop Grumman in the 4th quarter worth approximately $31,000. Albion Financial Group UT bought a new position in Northrop Grumman in the 4th quarter worth approximately $33,000. FSA Wealth Management LLC bought a new position in Northrop Grumman in the 3rd quarter worth approximately $36,000. Finally, Modus Advisors LLC bought a new position in Northrop Grumman in the 4th quarter worth approximately $38,000. 83.40% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, VP Benjamin R. Davies sold 192 shares of Northrop Grumman stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $429.08, for a total value of $82,383.36. Following the transaction, the vice president now owns 709 shares in the company, valued at $304,217.72. This trade represents a 21.31 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders have sold a total of 291 shares of company stock worth $129,184 in the last 90 days. 0.22% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several research firms recently commented on NOC. Argus raised shares of Northrop Grumman to a “strong-buy” rating in a report on Wednesday, February 26th. Truist Financial began coverage on shares of Northrop Grumman in a report on Tuesday, January 14th. They issued a “buy” rating and a $544.00 price target for the company. UBS Group cut their price target on shares of Northrop Grumman from $579.00 to $558.00 and set a “buy” rating for the company in a report on Friday, January 31st. Citigroup raised their price target on shares of Northrop Grumman from $587.00 to $591.00 and gave the company a “buy” rating in a report on Monday, February 10th. Finally, Barclays cut their price target on shares of Northrop Grumman from $550.00 to $500.00 and set an “equal weight” rating for the company in a report on Monday, January 6th. Nine 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. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $542.75.

Northrop Grumman Stock Performance

Northrop Grumman stock opened at $461.74 on Monday. The firm’s fifty day moving average price is $469.44 and its 200-day moving average price is $496.12. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.91 and a current ratio of 1.01. The stock has a market cap of $66.84 billion, a P/E ratio of 16.29, a price-to-earnings-growth ratio of 3.73 and a beta of 0.35. Northrop Grumman Co. has a fifty-two week low of $418.60 and a fifty-two week high of $555.57.

Northrop Grumman (NYSE:NOC) last issued its earnings results 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 net margin of 10.17% and a return on equity of 26.24%. On average, equities research analysts expect that Northrop Grumman Co. will post 28.05 earnings per share for the current fiscal year.

Northrop Grumman declared that its board has initiated a share repurchase plan on Wednesday, December 11th that permits the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization permits the aerospace company to buy up to 4.3% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s management believes its shares are undervalued.

Northrop Grumman Dividend Announcement

The firm also recently announced 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 dividend on an annualized basis and a yield of 1.78%. The ex-dividend date is Monday, March 3rd. Northrop Grumman’s payout ratio is presently 29.08%.

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.