Magnus Financial Group LLC Acquires 52 Shares of Northrop Grumman Co. (NYSE:NOC)

Magnus Financial Group LLC lifted its holdings in shares of Northrop Grumman Co. (NYSE:NOC) by 10.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 541 shares of the aerospace company’s stock after acquiring an additional 52 shares during the period. Magnus Financial Group LLC’s holdings in Northrop Grumman were worth $254,000 at the end of the most recent reporting period.

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

Northrop Grumman Stock Performance

Shares of NOC stock opened at $502.03 on Thursday. The firm’s 50 day moving average is $478.98 and its 200 day moving average is $495.31. The stock has a market capitalization of $73.15 billion, a P/E ratio of 31.10, a PEG ratio of 0.95 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 current ratio of 1.09, a quick ratio of 0.97 and a debt-to-equity ratio of 1.00.

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

Northrop Grumman announced that its Board of Directors has authorized a share repurchase plan on Wednesday, December 11th that authorizes the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization authorizes the aerospace company to repurchase up to 4.3% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.

Northrop Grumman Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, December 18th. Stockholders of record on Monday, December 2nd were given a dividend of $2.06 per share. This represents a $8.24 annualized dividend and a dividend yield of 1.64%. The ex-dividend date was Monday, December 2nd. Northrop Grumman’s dividend payout ratio is presently 51.05%.

Insider Activity

In related news, VP Benjamin R. Davies sold 1,156 shares of the business’s stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $532.93, for a total transaction of $616,067.08. Following the completion of the transaction, the vice president now directly owns 537 shares in the company, valued at $286,183.41. The trade was a 68.28 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Over the last ninety days, insiders sold 1,255 shares of company stock worth $663,859. 0.22% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

NOC has been the subject of several recent analyst reports. Royal Bank of Canada upped their target price on shares of Northrop Grumman from $500.00 to $540.00 and gave the stock a “sector perform” rating in a research note on Friday, October 25th. Citigroup raised shares of Northrop Grumman from a “neutral” rating to a “buy” rating and set a $587.00 price objective for the company in a research report on Tuesday. StockNews.com raised shares of Northrop Grumman from a “buy” rating to a “strong-buy” rating in a research report on Sunday. UBS Group upped their target price on Northrop Grumman from $614.00 to $643.00 and gave the company a “buy” rating in a report on Friday, October 25th. Finally, Truist Financial began coverage on Northrop Grumman in a report on Tuesday, January 14th. They set a “buy” rating and a $544.00 price target on the stock. Eight investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Northrop Grumman currently has an average rating of “Moderate Buy” and an average price target of $550.94.

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.