Stratos Wealth Advisors LLC Purchases 73 Shares of Northrop Grumman Co. (NYSE:NOC)

Stratos Wealth Advisors LLC lifted its position in Northrop Grumman Co. (NYSE:NOC) by 6.3% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,234 shares of the aerospace company’s stock after purchasing an additional 73 shares during the quarter. Stratos Wealth Advisors LLC’s holdings in Northrop Grumman were worth $579,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. RPg Family Wealth Advisory LLC purchased a new stake in Northrop Grumman in the third quarter worth approximately $31,000. Albion Financial Group UT purchased a new stake in shares of Northrop Grumman in the 4th quarter valued at $33,000. FSA Wealth Management LLC bought a new position in shares of Northrop Grumman during the 3rd quarter valued at $36,000. Modus Advisors LLC purchased a new position in Northrop Grumman in the 4th quarter worth $38,000. Finally, Catalyst Capital Advisors LLC bought a new stake in Northrop Grumman in the third quarter worth $40,000. 83.40% of the stock is currently owned by hedge funds and other institutional investors.

Northrop Grumman Stock Up 0.5 %

NOC stock opened at $468.75 on Friday. The company has a quick ratio of 0.91, a current ratio of 1.01 and a debt-to-equity ratio of 0.96. The business has a 50 day moving average of $477.33 and a 200 day moving average of $498.99. Northrop Grumman Co. has a twelve month low of $418.60 and a twelve month high of $555.57. The firm has a market cap of $67.86 billion, a PE ratio of 16.54, a price-to-earnings-growth ratio of 0.91 and a beta of 0.35.

Northrop Grumman (NYSE:NOC) last posted its quarterly earnings results on Thursday, January 30th. The aerospace company reported $6.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.27 by $0.12. Northrop Grumman had a return on equity of 26.24% and a net margin of 10.17%. On average, research analysts forecast that Northrop Grumman Co. will post 28.04 EPS for the current fiscal year.

Northrop Grumman Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, December 18th. Investors of record on Monday, December 2nd were issued a $2.06 dividend. The ex-dividend date was Monday, December 2nd. This represents a $8.24 dividend on an annualized basis and a yield of 1.76%. Northrop Grumman’s payout ratio is currently 29.08%.

Northrop Grumman declared that its board has initiated a stock buyback plan on Wednesday, December 11th that authorizes the company to buyback $3.00 billion in outstanding shares. This buyback authorization authorizes the aerospace company to reacquire up to 4.3% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board believes its shares are undervalued.

Analysts Set New Price Targets

NOC has been the topic of several analyst reports. Citigroup upgraded Northrop Grumman from a “neutral” rating to a “buy” rating and set a $587.00 price objective on the stock in a report on Tuesday, January 21st. Truist Financial initiated 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. Wells Fargo & Company reduced their target price on Northrop Grumman from $595.00 to $574.00 and set an “overweight” rating on the stock in a research note on Friday, January 31st. Royal Bank of Canada raised their price target on Northrop Grumman from $500.00 to $540.00 and gave the stock a “sector perform” rating in a research note on Friday, October 25th. Finally, Barclays decreased their price objective on shares of Northrop Grumman from $550.00 to $500.00 and set an “equal weight” rating for the company in a report on Monday, January 6th. Nine analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $544.31.

Insider Activity at Northrop Grumman

In other news, VP Benjamin R. Davies sold 1,156 shares of the company’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $532.93, for a total transaction of $616,067.08. Following the transaction, the vice president now directly owns 537 shares of the company’s stock, valued at $286,183.41. This represents a 68.28 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In the last three months, insiders have sold 1,255 shares of company stock valued at $662,868. 0.22% of the stock is owned by corporate insiders.

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.