Northrop Grumman Co. (NYSE:NOC) Shares Sold by Ferguson Wellman Capital Management Inc.

Ferguson Wellman Capital Management Inc. lowered its position in Northrop Grumman Co. (NYSE:NOC) by 2.6% during the fourth quarter, Holdings Channel.com reports. The fund owned 2,594 shares of the aerospace company’s stock after selling 70 shares during the quarter. Ferguson Wellman Capital Management Inc.’s holdings in Northrop Grumman were worth $1,217,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Cornell Pochily Investment Advisors Inc. lifted its position in Northrop Grumman by 0.9% in the third quarter. Cornell Pochily Investment Advisors Inc. now owns 2,141 shares of the aerospace company’s stock worth $1,131,000 after purchasing an additional 20 shares during the period. Asset Dedication LLC lifted its position in Northrop Grumman by 1.0% in the third quarter. Asset Dedication LLC now owns 2,025 shares of the aerospace company’s stock worth $1,069,000 after purchasing an additional 20 shares during the period. Foundations Investment Advisors LLC lifted its position in Northrop Grumman by 1.4% in the third quarter. Foundations Investment Advisors LLC now owns 1,478 shares of the aerospace company’s stock worth $780,000 after purchasing an additional 20 shares during the period. PBMares Wealth Management LLC lifted its position in Northrop Grumman by 0.5% in the third quarter. PBMares Wealth Management LLC now owns 4,421 shares of the aerospace company’s stock worth $2,335,000 after purchasing an additional 20 shares during the period. Finally, Hudson Valley Investment Advisors Inc. ADV lifted its position 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 worth $1,194,000 after purchasing an additional 20 shares during the period. Institutional investors and hedge funds own 83.40% of the company’s stock.

Northrop Grumman Price Performance

NOC opened at $473.94 on Tuesday. The stock has a fifty day moving average of $476.91 and a 200-day moving average of $500.01. The firm has a market capitalization of $68.61 billion, a P/E ratio of 16.72, a PEG ratio of 3.00 and a beta of 0.35. Northrop Grumman Co. has a 12-month low of $418.60 and a 12-month high of $555.57. The company has a quick ratio of 0.91, a current ratio of 1.01 and a debt-to-equity ratio of 0.96.

Northrop Grumman (NYSE:NOC) last announced 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 return on equity of 26.24% and a net margin of 10.17%. Equities analysts forecast that Northrop Grumman Co. will post 27.94 EPS for the current fiscal year.

Northrop Grumman announced that its Board of Directors has initiated a stock buyback 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 stock through open market purchases. Stock buyback programs are usually an indication that the company’s management believes its shares are undervalued.

Northrop Grumman Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, December 18th. Investors of record on Monday, December 2nd were issued a dividend of $2.06 per share. The ex-dividend date was Monday, December 2nd. This represents a $8.24 annualized dividend and a dividend yield of 1.74%. Northrop Grumman’s dividend payout ratio is 29.08%.

Analysts Set New Price Targets

A number of research firms have weighed in on NOC. UBS Group cut their target price on Northrop Grumman from $579.00 to $558.00 and set a “buy” rating for the company in a research report on Friday, January 31st. Truist Financial assumed coverage on Northrop Grumman in a report on Tuesday, January 14th. They issued a “buy” rating and a $544.00 price target on the stock. StockNews.com cut Northrop Grumman from a “strong-buy” rating to a “buy” rating in a report on Monday, February 3rd. Citigroup upped their price target on Northrop Grumman from $587.00 to $591.00 and gave the company a “buy” rating in a report on Monday. Finally, JPMorgan Chase & Co. upped their price target on Northrop Grumman from $500.00 to $560.00 and gave the company a “neutral” rating in a report on Monday, October 14th. Nine investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $544.56.

Northrop Grumman 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.