MFA Wealth Services Invests $383,000 in Northrop Grumman Co. (NYSE:NOC)

MFA Wealth Services bought a new stake in Northrop Grumman Co. (NYSE:NOC) during the fourth quarter, Holdings Channel.com reports. The firm bought 816 shares of the aerospace company’s stock, valued at approximately $383,000.

Several other hedge funds and other institutional investors also recently modified their holdings of the company. RPg Family Wealth Advisory LLC bought a new stake in Northrop Grumman in the 3rd quarter valued at about $31,000. FSA Wealth Management LLC acquired a new stake in shares of Northrop Grumman in the third quarter valued at approximately $36,000. Albion Financial Group UT bought a new stake in shares of Northrop Grumman during the fourth quarter valued at approximately $33,000. Catalyst Capital Advisors LLC bought a new position in Northrop Grumman in the 3rd quarter worth approximately $40,000. Finally, Modus Advisors LLC acquired a new stake in Northrop Grumman in the 4th quarter valued at approximately $38,000. Institutional investors and hedge funds 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 dated Monday, November 11th. The stock was sold at an average price of $532.93, for a total value of $616,067.08. Following the transaction, the vice president now directly owns 537 shares of the company’s stock, valued at $286,183.41. This represents a 68.28 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Over the last ninety days, insiders have sold 1,255 shares of company stock valued at $663,859. 0.22% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on NOC shares. TD Cowen upgraded Northrop Grumman to a “hold” rating in a research report on Tuesday, October 8th. 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 research note on Friday, October 25th. StockNews.com raised shares of Northrop Grumman from a “buy” rating to a “strong-buy” rating in a research note on Sunday, January 19th. Barclays lowered their price objective on shares of Northrop Grumman from $550.00 to $500.00 and set an “equal weight” rating on the stock in a research note on Monday, January 6th. Finally, Royal Bank of Canada lifted their price target on Northrop Grumman from $500.00 to $540.00 and gave the company a “sector perform” rating in a research report on Friday, October 25th. Eight investment 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 stock. Based on data from MarketBeat.com, Northrop Grumman currently has an average rating of “Moderate Buy” and a consensus target price of $550.94.

Northrop Grumman Stock Performance

Shares of Northrop Grumman stock opened at $499.56 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 business has a fifty day simple moving average of $478.61 and a 200-day simple moving average of $495.36. The stock has a market cap of $72.78 billion, a PE ratio of 30.95, a price-to-earnings-growth ratio of 0.95 and a beta of 0.35.

Northrop Grumman (NYSE:NOC) last posted its quarterly earnings results on Thursday, October 24th. The aerospace company reported $7.00 EPS for the quarter, topping the consensus estimate of $6.07 by $0.93. The business had revenue of $10 billion during the quarter, compared to analysts’ expectations of $10.18 billion. Northrop Grumman had a net margin of 5.79% and a return on equity of 26.57%. The firm’s quarterly revenue was up 2.3% compared to the same quarter last year. During the same period last year, the company posted $6.18 earnings per share. On average, sell-side analysts anticipate that Northrop Grumman Co. will post 25.96 EPS for the current fiscal year.

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

Northrop Grumman Dividend Announcement

The business also recently declared 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. This represents a $8.24 annualized dividend and a dividend yield of 1.65%. The ex-dividend date was Monday, December 2nd. 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.