Welch Group LLC Acquires 100 Shares of Northrop Grumman Co. (NYSE:NOC)

Welch Group LLC grew its holdings in Northrop Grumman Co. (NYSE:NOC) by 3.6% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 2,870 shares of the aerospace company’s stock after purchasing an additional 100 shares during the period. Welch Group LLC’s holdings in Northrop Grumman were worth $1,339,000 as of its most recent SEC filing.

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

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the stock. StockNews.com downgraded shares of Northrop Grumman from a “strong-buy” rating to a “buy” rating in a report on Monday. Truist Financial started coverage on Northrop Grumman in a report on Tuesday, January 14th. They issued a “buy” rating and a $544.00 target price for the company. Citigroup raised Northrop Grumman from a “neutral” rating to a “buy” rating and set a $587.00 price target on the stock in a research note on Tuesday, January 21st. UBS Group lowered their price objective on Northrop Grumman from $579.00 to $558.00 and set a “buy” rating for the company in a research note on Friday. Finally, JPMorgan Chase & Co. lifted their target price 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. Nine investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat.com, Northrop Grumman has an average rating of “Moderate Buy” and a consensus price target of $544.31.

Insider Buying and Selling

In other Northrop Grumman news, VP Benjamin R. Davies sold 1,156 shares of the company’s stock in a transaction on Monday, November 11th. The shares were sold at an average price of $532.93, for a total transaction of $616,067.08. Following the transaction, the vice president now owns 537 shares in the company, valued at approximately $286,183.41. This represents a 68.28 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In the last three months, insiders have sold 1,222 shares of company stock valued at $647,025. 0.22% of the stock is owned by company insiders.

Northrop Grumman Trading Up 0.1 %

NYSE NOC opened at $487.87 on Tuesday. Northrop Grumman Co. has a one year low of $418.60 and a one year high of $555.57. The company has a debt-to-equity ratio of 0.96, a current ratio of 1.01 and a quick ratio of 0.91. The business has a 50 day simple moving average of $478.20 and a 200 day simple moving average of $498.76. The stock has a market capitalization of $70.62 billion, a P/E ratio of 17.21, a P/E/G ratio of 0.91 and a beta of 0.35.

Northrop Grumman (NYSE:NOC) last released its 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%. Research analysts expect that Northrop Grumman Co. will post 28.04 earnings per share for the current year.

Northrop Grumman Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, December 18th. Investors of record on Monday, December 2nd were given a $2.06 dividend. This represents a $8.24 dividend on an annualized basis and a yield of 1.69%. The ex-dividend date of this dividend was Monday, December 2nd. Northrop Grumman’s payout ratio is 29.08%.

Northrop Grumman declared that its Board of Directors has authorized a stock buyback plan on Wednesday, December 11th that allows the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization allows the aerospace company to buy up to 4.3% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s board believes its shares are undervalued.

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.