Stonegate Investment Group LLC Has $4.35 Million Stake in Northrop Grumman Co. (NYSE:NOC)

Stonegate Investment Group LLC increased its holdings in shares of Northrop Grumman Co. (NYSE:NOC) by 2.8% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 9,266 shares of the aerospace company’s stock after purchasing an additional 255 shares during the quarter. Stonegate Investment Group LLC’s holdings in Northrop Grumman were worth $4,348,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. RPg Family Wealth Advisory LLC acquired a new position in Northrop Grumman during the third quarter worth $31,000. Albion Financial Group UT bought a new stake in Northrop Grumman during the fourth quarter worth $33,000. FSA Wealth Management LLC bought a new stake in Northrop Grumman during the third quarter worth $36,000. Modus Advisors LLC bought a new stake in Northrop Grumman during the fourth quarter worth $38,000. Finally, Catalyst Capital Advisors LLC bought a new stake in Northrop Grumman during the third quarter worth $40,000. Institutional investors and hedge funds own 83.40% of the company’s stock.

Insiders Place Their Bets

In other Northrop Grumman news, VP Benjamin R. Davies sold 1,156 shares of the stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $532.93, for a total transaction of $616,067.08. Following the sale, the vice president now directly owns 537 shares in the company, valued at $286,183.41. This represents a 68.28 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders have sold 1,255 shares of company stock worth $663,859 over the last ninety days. Corporate insiders own 0.22% of the company’s stock.

Northrop Grumman Price Performance

NYSE:NOC opened at $503.09 on Tuesday. Northrop Grumman Co. has a 52 week low of $418.60 and a 52 week high of $555.57. The firm has a market cap of $73.30 billion, a price-to-earnings ratio of 31.17, a P/E/G ratio of 0.95 and a beta of 0.35. The firm’s 50-day simple moving average is $478.66 and its 200 day simple moving average is $496.86. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.97 and a current ratio of 1.09.

Northrop Grumman announced that its board has authorized a share repurchase plan on Wednesday, December 11th that authorizes the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization authorizes the aerospace company to repurchase up to 4.3% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s management believes its stock is undervalued.

Northrop Grumman Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, December 18th. Shareholders of record on Monday, December 2nd were paid a dividend of $2.06 per share. The ex-dividend date was Monday, December 2nd. This represents a $8.24 dividend on an annualized basis and a yield of 1.64%. Northrop Grumman’s payout ratio is 51.05%.

Analyst Ratings Changes

Several research firms have issued reports on NOC. Barclays dropped their price target on shares of Northrop Grumman from $550.00 to $500.00 and set an “equal weight” rating on the stock in a research report on Monday, January 6th. JPMorgan Chase & Co. upped their price target on shares of Northrop Grumman from $500.00 to $560.00 and gave the stock a “neutral” rating in a research report on Monday, October 14th. Susquehanna dropped their price target on shares of Northrop Grumman from $625.00 to $557.00 and set a “positive” rating on the stock in a research report on Wednesday, January 8th. Truist Financial assumed coverage on shares of Northrop Grumman in a research report on Tuesday, January 14th. They issued a “buy” rating and a $544.00 price objective on the stock. Finally, Citigroup raised shares of Northrop Grumman from a “neutral” rating to a “buy” rating and set a $587.00 price objective on the stock in a research report on Tuesday, January 21st. Eight investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $550.94.

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.