Northrop Grumman Co. (NYSE:NOC) Shares Sold by Cigna Investments Inc. New

Cigna Investments Inc. New cut its stake in shares of Northrop Grumman Co. (NYSE:NOC) by 1.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,410 shares of the aerospace company’s stock after selling 27 shares during the quarter. Cigna Investments Inc. New’s holdings in Northrop Grumman were worth $662,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. RPg Family Wealth Advisory LLC acquired a new stake in shares of Northrop Grumman during the third quarter worth $31,000. FSA Wealth Management LLC acquired a new stake in shares of Northrop Grumman during the third quarter worth $36,000. Albion Financial Group UT acquired a new stake in Northrop Grumman in the fourth quarter valued at $33,000. Catalyst Capital Advisors LLC acquired a new stake in Northrop Grumman in the third quarter valued at $40,000. Finally, Modus Advisors LLC acquired a new stake in Northrop Grumman in the fourth quarter valued at $38,000. 83.40% of the stock is owned by institutional investors and hedge funds.

Northrop Grumman Stock Performance

Shares of NYSE NOC opened at $473.94 on Tuesday. Northrop Grumman Co. has a 12 month low of $418.60 and a 12 month high of $555.57. The company has a market cap of $68.61 billion, a P/E ratio of 16.72, a P/E/G ratio of 3.00 and a beta of 0.35. The business’s 50 day moving average is $476.91 and its two-hundred day moving average is $500.01. The company has a quick ratio of 0.91, a current ratio of 1.01 and a debt-to-equity ratio of 0.96.

Northrop Grumman (NYSE:NOC) last announced its quarterly earnings results on Thursday, January 30th. The aerospace company reported $6.39 EPS for the quarter, beating 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, equities analysts expect that Northrop Grumman Co. will post 27.94 EPS for the current year.

Northrop Grumman declared that its board has initiated a share repurchase plan on Wednesday, December 11th that allows the company to repurchase $3.00 billion in shares. This repurchase authorization allows the aerospace company to purchase up to 4.3% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s management believes its shares are undervalued.

Northrop Grumman Announces Dividend

The business 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 of this dividend was Monday, December 2nd. This represents a $8.24 dividend on an annualized basis and a yield of 1.74%. Northrop Grumman’s dividend payout ratio is presently 29.08%.

Wall Street Analyst Weigh In

NOC has been the subject of a number of recent analyst reports. Citigroup raised their target price on Northrop Grumman from $587.00 to $591.00 and gave the company a “buy” rating in a report on Monday. StockNews.com downgraded Northrop Grumman from a “strong-buy” rating to a “buy” rating in a report on Monday, February 3rd. Royal Bank of Canada raised their target price on Northrop Grumman from $500.00 to $540.00 and gave the company a “sector perform” rating in a report on Friday, October 25th. Barclays reduced their target price on Northrop Grumman from $550.00 to $500.00 and set an “equal weight” rating for the company in a report on Monday, January 6th. Finally, Truist Financial started coverage on Northrop Grumman in a research note on Tuesday, January 14th. They set a “buy” rating and a $544.00 price target for the company. Nine equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $544.56.

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.