Northrop Grumman Co. (NYSE:NOC) Shares Sold by 44 Wealth Management LLC

44 Wealth Management LLC decreased its stake in Northrop Grumman Co. (NYSE:NOC) by 7.3% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 709 shares of the aerospace company’s stock after selling 56 shares during the period. 44 Wealth Management LLC’s holdings in Northrop Grumman were worth $333,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of NOC. RPg Family Wealth Advisory LLC acquired a new position in shares of Northrop Grumman in the 3rd quarter valued at $31,000. Albion Financial Group UT acquired a new position in shares of Northrop Grumman in the 4th quarter valued at $33,000. FSA Wealth Management LLC acquired a new stake in Northrop Grumman during the 3rd quarter worth $36,000. Modus Advisors LLC acquired a new stake in Northrop Grumman during the 4th quarter worth $38,000. Finally, Catalyst Capital Advisors LLC acquired a new stake in Northrop Grumman during the 3rd quarter worth $40,000. Institutional investors and hedge funds own 83.40% of the company’s stock.

Northrop Grumman Stock Performance

Shares of NOC opened at $448.59 on Friday. The company has a 50-day simple moving average of $471.03 and a 200-day simple moving average of $497.52. The company has a quick ratio of 0.91, a current ratio of 1.01 and a debt-to-equity ratio of 0.96. The company 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. Northrop Grumman Co. has a 52-week low of $418.60 and a 52-week high of $555.57.

Northrop Grumman (NYSE:NOC) last announced its quarterly earnings results on Thursday, January 30th. The aerospace company reported $6.39 earnings per share (EPS) for the quarter, beating 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%. Equities research analysts predict that Northrop Grumman Co. will post 28.05 earnings per share for the current fiscal year.

Northrop Grumman Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 19th. Stockholders of record on Monday, March 3rd will be issued a $2.06 dividend. The ex-dividend date is Monday, March 3rd. This represents a $8.24 dividend on an annualized basis and a dividend yield of 1.84%. Northrop Grumman’s dividend payout ratio is presently 29.08%.

Northrop Grumman declared that its Board of Directors has initiated a share buyback plan on Wednesday, December 11th that authorizes the company to repurchase $3.00 billion in shares. This repurchase authorization authorizes the aerospace company to reacquire up to 4.3% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s leadership believes its stock is undervalued.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. StockNews.com cut shares of Northrop Grumman from a “strong-buy” rating to a “buy” rating in a research note on Monday, February 3rd. Truist Financial assumed coverage on shares of Northrop Grumman in a research note on Tuesday, January 14th. They set a “buy” rating and a $544.00 price target for the company. Barclays decreased 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 research note on Monday, January 6th. Citigroup increased their price target on shares of Northrop Grumman from $587.00 to $591.00 and gave the stock a “buy” rating in a research note on Monday, February 10th. Finally, UBS Group decreased their price target on shares of Northrop Grumman from $579.00 to $558.00 and set a “buy” rating for the company in a research note on Friday, January 31st. Nine equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat, Northrop Grumman currently has a consensus rating of “Moderate Buy” and an average target price 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.