Capital Investment Counsel LLC Trims Holdings in Northrop Grumman Co. (NYSE:NOC)

Capital Investment Counsel LLC trimmed its holdings in Northrop Grumman Co. (NYSE:NOC) by 1.0% in the 4th quarter, Holdings Channel reports. The fund owned 17,152 shares of the aerospace company’s stock after selling 180 shares during the quarter. Northrop Grumman accounts for about 1.3% of Capital Investment Counsel LLC’s investment portfolio, making the stock its 24th biggest position. Capital Investment Counsel LLC’s holdings in Northrop Grumman were worth $8,049,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the business. Mayflower Financial Advisors LLC lifted its holdings in shares of Northrop Grumman by 56.0% during the fourth quarter. Mayflower Financial Advisors LLC now owns 819 shares of the aerospace company’s stock valued at $384,000 after purchasing an additional 294 shares during the last quarter. Stonegate Investment Group LLC raised its stake in Northrop Grumman by 2.8% during the fourth quarter. Stonegate Investment Group LLC now owns 9,266 shares of the aerospace company’s stock valued at $4,348,000 after buying an additional 255 shares during the last quarter. Perigon Wealth Management LLC boosted its holdings in Northrop Grumman by 5.5% in the fourth quarter. Perigon Wealth Management LLC now owns 2,685 shares of the aerospace company’s stock worth $1,292,000 after acquiring an additional 140 shares in the last quarter. Vantage Investment Partners LLC grew its stake in shares of Northrop Grumman by 0.3% in the fourth quarter. Vantage Investment Partners LLC now owns 85,507 shares of the aerospace company’s stock worth $40,128,000 after acquiring an additional 240 shares during the last quarter. Finally, Northwest Financial Advisors increased its holdings in shares of Northrop Grumman by 386.3% during the fourth quarter. Northwest Financial Advisors now owns 744 shares of the aerospace company’s stock valued at $349,000 after acquiring an additional 591 shares in the last quarter. Institutional investors own 83.40% of the company’s stock.

Northrop Grumman Price Performance

NYSE NOC opened at $486.68 on Wednesday. The company has a quick ratio of 0.97, a current ratio of 1.09 and a debt-to-equity ratio of 1.00. The firm has a market capitalization of $70.91 billion, a P/E ratio of 30.15, a PEG ratio of 0.95 and a beta of 0.35. The company has a 50-day moving average price of $478.95 and a 200-day moving average price of $497.36. Northrop Grumman Co. has a 52 week low of $418.60 and a 52 week high of $555.57.

Northrop Grumman announced that its board has approved 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 reacquire up to 4.3% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s management believes its shares are undervalued.

Northrop Grumman Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, December 18th. Stockholders of record on Monday, December 2nd were paid a dividend of $2.06 per share. This represents a $8.24 annualized dividend and a dividend yield of 1.69%. The ex-dividend date was Monday, December 2nd. Northrop Grumman’s dividend payout ratio is presently 51.05%.

Insider Transactions at Northrop Grumman

In other news, VP Benjamin R. Davies sold 1,156 shares of the firm’s stock in a transaction dated 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 of the company’s stock, valued at $286,183.41. This trade represents 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. Insiders have sold 1,255 shares of company stock worth $663,859 in the last 90 days. 0.22% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several brokerages recently commented on NOC. TD Cowen raised shares of Northrop Grumman to a “hold” rating in a research report on Tuesday, October 8th. Susquehanna reduced their price target on shares of Northrop Grumman from $625.00 to $557.00 and set a “positive” rating for the company in a research report on Wednesday, January 8th. Truist Financial started coverage on shares of Northrop Grumman in a report on Tuesday, January 14th. They issued a “buy” rating and a $544.00 price objective for the company. UBS Group increased their target price on Northrop Grumman from $614.00 to $643.00 and gave the company a “buy” rating in a research note on Friday, October 25th. Finally, Citigroup upgraded Northrop Grumman from a “neutral” rating to a “buy” rating and set a $587.00 price target for the company in a research note on Tuesday, January 21st. Eight equities 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 stock. According to data from MarketBeat, the company 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.