Northrop Grumman Co. (NYSE:NOC) Shares Purchased by Valeo Financial Advisors LLC

Valeo Financial Advisors LLC lifted its holdings in Northrop Grumman Co. (NYSE:NOC) by 3.0% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,423 shares of the aerospace company’s stock after purchasing an additional 71 shares during the quarter. Valeo Financial Advisors LLC’s holdings in Northrop Grumman were worth $1,137,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the business. Two Sigma Advisers LP lifted its position in Northrop Grumman by 102.6% during the 3rd quarter. Two Sigma Advisers LP now owns 735,600 shares of the aerospace company’s stock worth $388,448,000 after acquiring an additional 372,500 shares during the period. Franklin Resources Inc. lifted its position in Northrop Grumman by 6.2% during the 3rd quarter. Franklin Resources Inc. now owns 2,426,270 shares of the aerospace company’s stock worth $1,315,729,000 after acquiring an additional 141,816 shares during the period. Wedge Capital Management L L P NC acquired a new stake in Northrop Grumman during the 4th quarter worth about $66,171,000. International Assets Investment Management LLC acquired a new stake in Northrop Grumman during the 4th quarter worth about $622,000. Finally, National Bank of Canada FI lifted its position in Northrop Grumman by 154.7% during the 3rd quarter. National Bank of Canada FI now owns 157,601 shares of the aerospace company’s stock worth $83,224,000 after acquiring an additional 95,724 shares during the period. Institutional investors and hedge funds own 83.40% of the company’s stock.

Northrop Grumman Price Performance

Shares of Northrop Grumman stock opened at $438.70 on Friday. 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 Co. has a twelve month low of $418.60 and a twelve month high of $555.57. The firm has a market cap of $63.51 billion, a PE ratio of 15.48, a P/E/G ratio of 3.00 and a beta of 0.35. The business has a 50-day moving average price of $474.95 and a 200 day moving average price of $499.19.

Northrop Grumman (NYSE:NOC) last posted 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%. Sell-side analysts predict that Northrop Grumman Co. will post 27.94 earnings per share for the current fiscal year.

Northrop Grumman announced that its board has initiated a stock buyback program on Wednesday, December 11th that permits the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization permits the aerospace company to repurchase up to 4.3% of its stock through open market purchases. Stock repurchase programs 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. Investors of record on Monday, December 2nd were issued a $2.06 dividend. This represents a $8.24 annualized dividend and a yield of 1.88%. The ex-dividend date was Monday, December 2nd. Northrop Grumman’s payout ratio is 29.08%.

Analyst Upgrades and Downgrades

A number of brokerages have commented on NOC. Truist Financial began coverage on Northrop Grumman in a research report on Tuesday, January 14th. They set a “buy” rating and a $544.00 price target for the company. Wells Fargo & Company reduced their price objective on Northrop Grumman from $595.00 to $574.00 and set an “overweight” rating for the company in a research note on Friday, January 31st. Citigroup lifted their price objective on Northrop Grumman from $587.00 to $591.00 and gave the company a “buy” rating in a research note on Monday, February 10th. Wolfe Research upgraded Northrop Grumman from an “underperform” rating to a “peer perform” rating in a research note on Monday, February 3rd. Finally, StockNews.com lowered Northrop Grumman from a “strong-buy” rating to a “buy” rating in a research note on Monday, February 3rd. Nine research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target 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.