Parisi Gray Wealth Management Has $542,000 Position in Northrop Grumman Co. (NYSE:NOC)

Parisi Gray Wealth Management raised its holdings in Northrop Grumman Co. (NYSE:NOC) by 9.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,156 shares of the aerospace company’s stock after buying an additional 95 shares during the period. Parisi Gray Wealth Management’s holdings in Northrop Grumman were worth $542,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in NOC. Wellington Management Group LLP raised its stake in shares of Northrop Grumman by 0.4% in the third quarter. Wellington Management Group LLP now owns 4,140,892 shares of the aerospace company’s stock worth $2,186,681,000 after purchasing an additional 17,596 shares during the last quarter. Geode Capital Management LLC raised its position in Northrop Grumman by 0.6% in the 3rd quarter. Geode Capital Management LLC now owns 3,003,360 shares of the aerospace company’s stock valued at $1,581,644,000 after buying an additional 18,791 shares during the last quarter. Franklin Resources Inc. lifted its stake in Northrop Grumman by 6.2% during the 3rd quarter. Franklin Resources Inc. now owns 2,426,270 shares of the aerospace company’s stock valued at $1,315,729,000 after acquiring an additional 141,816 shares in the last quarter. Legal & General Group Plc boosted its holdings in Northrop Grumman by 16.0% during the 2nd quarter. Legal & General Group Plc now owns 1,087,913 shares of the aerospace company’s stock worth $474,276,000 after acquiring an additional 150,367 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in shares of Northrop Grumman by 0.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 809,445 shares of the aerospace company’s stock worth $427,444,000 after acquiring an additional 3,211 shares in the last quarter. 83.40% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, VP Benjamin R. Davies sold 1,156 shares of Northrop Grumman stock in a transaction on Monday, November 11th. The shares were sold at an average price of $532.93, for a total value 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. The trade was a 68.28 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders have sold a total of 1,255 shares of company stock worth $663,859 in the last 90 days. 0.22% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the stock. Barclays cut their price target on shares of Northrop Grumman from $550.00 to $500.00 and set an “equal weight” rating on the stock in a report on Monday, January 6th. TD Cowen raised Northrop Grumman to a “hold” rating in a report on Tuesday, October 8th. JPMorgan Chase & Co. lifted their price target on Northrop Grumman from $500.00 to $560.00 and gave the stock a “neutral” rating in a report on Monday, October 14th. Royal Bank of Canada upped their price objective on Northrop Grumman from $500.00 to $540.00 and gave the company a “sector perform” rating in a research note on Friday, October 25th. Finally, Susquehanna lowered their target price on Northrop Grumman from $625.00 to $557.00 and set a “positive” rating on the stock in a research note on Wednesday, January 8th. Nine research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, Northrop Grumman presently has an average rating of “Hold” and an average target price of $551.40.

Northrop Grumman Price Performance

Shares of Northrop Grumman stock traded up $14.40 on Monday, hitting $473.09. 964,414 shares of the company traded hands, compared to its average volume of 790,472. The company has a market cap of $68.93 billion, a P/E ratio of 29.31, a P/E/G ratio of 0.97 and a beta of 0.35. 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 Co. has a 12-month low of $418.60 and a 12-month high of $555.57. The firm’s 50-day simple moving average is $484.74 and its 200 day simple moving average is $493.07.

Northrop Grumman (NYSE:NOC) last announced its quarterly earnings data on Thursday, October 24th. The aerospace company reported $7.00 EPS for the quarter, beating the consensus estimate of $6.07 by $0.93. The firm had revenue of $10 billion for the quarter, compared to analyst estimates of $10.18 billion. Northrop Grumman had a return on equity of 26.57% and a net margin of 5.79%. The company’s revenue was up 2.3% on a year-over-year basis. During the same period in the prior year, the company earned $6.18 EPS. Analysts expect that Northrop Grumman Co. will post 25.93 earnings per share for the current fiscal year.

Northrop Grumman announced that its Board of Directors has authorized a share buyback program on Wednesday, December 11th that allows the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization allows the aerospace company to repurchase up to 4.3% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s board believes its shares are undervalued.

Northrop Grumman Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, December 18th. Investors of record on Monday, December 2nd were issued a dividend of $2.06 per share. This represents a $8.24 annualized dividend and a dividend yield of 1.74%. The ex-dividend date was Monday, December 2nd. Northrop Grumman’s dividend payout ratio is currently 51.05%.

About Northrop Grumman

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.