Freestone Capital Holdings LLC Reduces Stock Holdings in Northrop Grumman Co. (NYSE:NOC)

Freestone Capital Holdings LLC cut its holdings in Northrop Grumman Co. (NYSE:NOC) by 4.7% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 767 shares of the aerospace company’s stock after selling 38 shares during the period. Freestone Capital Holdings LLC’s holdings in Northrop Grumman were worth $360,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in NOC. Lindbrook Capital LLC lifted its holdings in shares of Northrop Grumman by 12.3% in the fourth quarter. Lindbrook Capital LLC now owns 1,301 shares of the aerospace company’s stock valued at $611,000 after purchasing an additional 143 shares in the last quarter. McDonough Capital Management Inc lifted its stake in Northrop Grumman by 19.1% in the 4th quarter. McDonough Capital Management Inc now owns 3,493 shares of the aerospace company’s stock valued at $1,639,000 after buying an additional 560 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in Northrop Grumman during the 4th quarter valued at $171,580,000. Verdence Capital Advisors LLC increased its position in Northrop Grumman by 1.8% during the fourth quarter. Verdence Capital Advisors LLC now owns 1,393 shares of the aerospace company’s stock worth $654,000 after buying an additional 25 shares in the last quarter. Finally, Aigen Investment Management LP raised its holdings in shares of Northrop Grumman by 62.5% in the fourth quarter. Aigen Investment Management LP now owns 5,063 shares of the aerospace company’s stock worth $2,376,000 after acquiring an additional 1,948 shares during the last quarter. 83.40% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Northrop Grumman

In other Northrop Grumman news, CEO Kathy J. Warden sold 3,750 shares of the stock in a transaction that occurred on Thursday, March 6th. The shares were sold at an average price of $475.65, for a total value of $1,783,687.50. Following the completion of the sale, the chief executive officer now owns 212,852 shares of the company’s stock, valued at $101,243,053.80. This trade represents a 1.73 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Benjamin R. Davies sold 464 shares of the business’s stock in a transaction on Friday, February 28th. The stock was sold at an average price of $460.75, for a total transaction of $213,788.00. Following the transaction, the vice president now directly owns 245 shares in the company, valued at approximately $112,883.75. The trade was a 65.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 4,505 shares of company stock valued at $2,126,405 over the last three months. 0.22% of the stock is owned by company insiders.

Northrop Grumman Stock Performance

NYSE NOC opened at $487.22 on Friday. The company has a debt-to-equity ratio of 0.96, a current ratio of 1.01 and a quick ratio of 0.91. Northrop Grumman Co. has a 1-year low of $418.60 and a 1-year high of $555.57. The firm has a market capitalization of $70.53 billion, a P/E ratio of 17.19, a P/E/G ratio of 3.73 and a beta of 0.31. The business’s 50-day simple moving average is $469.88 and its 200-day simple moving average is $495.20.

Northrop Grumman (NYSE:NOC) last announced its quarterly earnings results on Thursday, January 30th. The aerospace company reported $6.39 earnings per share 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%. Equities analysts predict that Northrop Grumman Co. will post 28.05 EPS for the current year.

Northrop Grumman declared that its Board of Directors has approved a share repurchase 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 buy up to 4.3% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.

Northrop Grumman Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 19th. Investors of record on Monday, March 3rd will be issued a $2.06 dividend. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $8.24 annualized dividend and a yield of 1.69%. Northrop Grumman’s dividend payout ratio is currently 29.08%.

Analyst Ratings Changes

NOC has been the topic of a number of analyst reports. Truist Financial initiated coverage on Northrop Grumman in a research note on Tuesday, January 14th. They set a “buy” rating and a $544.00 price objective on the stock. UBS Group decreased their price target on shares of Northrop Grumman from $579.00 to $558.00 and set a “buy” rating on the stock in a research note on Friday, January 31st. Wells Fargo & Company boosted their price objective on shares of Northrop Grumman from $545.00 to $547.00 and gave the company an “overweight” rating in a research report on Friday. Susquehanna decreased their target price 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. Finally, Citigroup boosted their price target on Northrop Grumman from $587.00 to $591.00 and gave the company a “buy” rating in a report on Monday, February 10th. Nine research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Northrop Grumman has a consensus rating of “Moderate Buy” and an average target price of $542.88.

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.