Harbor Investment Advisory LLC Has $1.04 Million Position in Northrop Grumman Co. (NYSE:NOC)

Harbor Investment Advisory LLC cut its holdings in shares of Northrop Grumman Co. (NYSE:NOC) by 7.8% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 2,207 shares of the aerospace company’s stock after selling 187 shares during the period. Harbor Investment Advisory LLC’s holdings in Northrop Grumman were worth $1,036,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of NOC. MassMutual Private Wealth & Trust FSB raised its holdings in Northrop Grumman by 1.9% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 27,156 shares of the aerospace company’s stock worth $12,744,000 after acquiring an additional 519 shares in the last quarter. Stokes Capital Advisors LLC increased its position in shares of Northrop Grumman by 3.4% during the 4th quarter. Stokes Capital Advisors LLC now owns 15,377 shares of the aerospace company’s stock worth $7,216,000 after purchasing an additional 508 shares during the last quarter. Diversify Wealth Management LLC bought a new stake in shares of Northrop Grumman during the 4th quarter worth approximately $395,000. Grove Bank & Trust boosted its holdings in shares of Northrop Grumman by 40.5% in the 4th quarter. Grove Bank & Trust now owns 260 shares of the aerospace company’s stock valued at $122,000 after buying an additional 75 shares during the last quarter. Finally, IAM Advisory LLC grew its stake in shares of Northrop Grumman by 0.9% in the fourth quarter. IAM Advisory LLC now owns 3,964 shares of the aerospace company’s stock valued at $1,860,000 after buying an additional 35 shares in the last quarter. Institutional investors own 83.40% of the company’s stock.

Northrop Grumman Trading Up 4.5 %

Shares of Northrop Grumman stock opened at $504.16 on Wednesday. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.97 and a current ratio of 1.09. The firm has a 50-day moving average of $479.52 and a 200-day moving average of $494.82. Northrop Grumman Co. has a 52-week low of $418.60 and a 52-week high of $555.57. The stock has a market cap of $73.46 billion, a PE ratio of 31.24, a PEG ratio of 0.91 and a beta of 0.35.

Northrop Grumman (NYSE:NOC) last posted its quarterly earnings data on Thursday, October 24th. The aerospace company reported $7.00 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $6.07 by $0.93. Northrop Grumman had a net margin of 5.79% and a return on equity of 26.57%. The firm had revenue of $10 billion during the quarter, compared to the consensus estimate of $10.18 billion. During the same quarter in the previous year, the firm posted $6.18 EPS. The business’s revenue for the quarter was up 2.3% compared to the same quarter last year. As a group, sell-side analysts forecast that Northrop Grumman Co. will post 25.95 EPS for the current year.

Northrop Grumman announced that its Board of Directors has initiated a share repurchase program on Wednesday, December 11th that permits the company to buyback $3.00 billion in outstanding 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 typically a sign that the company’s leadership believes its stock is undervalued.

Northrop Grumman Dividend Announcement

The business 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 of this dividend was Monday, December 2nd. This represents a $8.24 dividend on an annualized basis and a yield of 1.63%. Northrop Grumman’s dividend payout ratio (DPR) is presently 51.05%.

Insider Buying and Selling at Northrop Grumman

In related news, VP Benjamin R. Davies sold 1,156 shares of the firm’s stock in a transaction on 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 owns 537 shares in the company, valued at approximately $286,183.41. This trade represents a 68.28 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders sold 1,255 shares of company stock valued at $663,859 in the last three months. Corporate insiders own 0.22% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have issued reports on NOC. Royal Bank of Canada upped their price target on shares of Northrop Grumman from $500.00 to $540.00 and gave the stock a “sector perform” rating in a research report on Friday, October 25th. Susquehanna dropped their target price on shares of Northrop Grumman from $625.00 to $557.00 and set a “positive” rating on the stock in a report on Wednesday, January 8th. UBS Group lifted their price target on Northrop Grumman from $614.00 to $643.00 and gave the stock a “buy” rating in a report on Friday, October 25th. JPMorgan Chase & Co. upped their price objective on Northrop Grumman from $500.00 to $560.00 and gave the company a “neutral” rating in a research note on Monday, October 14th. Finally, Truist Financial began coverage on Northrop Grumman in a research note on Tuesday, January 14th. They set a “buy” rating and a $544.00 target price for the company. Eight research 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 company. According to MarketBeat.com, Northrop Grumman has an average rating of “Moderate Buy” and an average price target 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.