Eads & Heald Wealth Management Reduces Stock Position in Northrop Grumman Co. (NYSE:NOC)

Eads & Heald Wealth Management trimmed its holdings in shares of Northrop Grumman Co. (NYSE:NOC) by 0.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,413 shares of the aerospace company’s stock after selling 25 shares during the quarter. Eads & Heald Wealth Management’s holdings in Northrop Grumman were worth $1,602,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the business. RPg Family Wealth Advisory LLC bought a new stake in shares of Northrop Grumman in the 3rd quarter valued at approximately $31,000. FSA Wealth Management LLC purchased a new stake in Northrop Grumman during the 3rd quarter valued at $36,000. Catalyst Capital Advisors LLC bought a new stake in Northrop Grumman in the third quarter worth $40,000. Modus Advisors LLC bought a new position in Northrop Grumman during the fourth quarter valued at $38,000. Finally, True Wealth Design LLC bought a new position in Northrop Grumman during the third quarter valued at $53,000. Institutional investors own 83.40% of the company’s stock.

Northrop Grumman Price Performance

NYSE NOC opened at $504.16 on Wednesday. The company has a market cap of $73.46 billion, a PE ratio of 31.24, a P/E/G ratio of 0.91 and a beta of 0.35. Northrop Grumman Co. has a 52-week low of $418.60 and a 52-week high of $555.57. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.97 and a current ratio of 1.09. The firm’s 50 day moving average price is $479.52 and its 200-day moving average price is $494.82.

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

Northrop Grumman Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, December 18th. Shareholders 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 1.63%. The ex-dividend date of this dividend was Monday, December 2nd. Northrop Grumman’s payout ratio is 51.05%.

Northrop Grumman announced that its board has approved 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 stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board believes its stock is undervalued.

Wall Street Analysts Forecast Growth

NOC has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. lifted their price target on shares of Northrop Grumman from $500.00 to $560.00 and gave the stock a “neutral” rating in a research note on Monday, October 14th. Truist Financial initiated coverage on Northrop Grumman in a research note on Tuesday, January 14th. They set a “buy” rating and a $544.00 target price on the stock. UBS Group increased their price target on Northrop Grumman from $614.00 to $643.00 and gave the stock a “buy” rating in a report on Friday, October 25th. Royal Bank of Canada boosted their price objective on Northrop Grumman from $500.00 to $540.00 and gave the company a “sector perform” rating in a report on Friday, October 25th. Finally, Wells Fargo & Company upgraded Northrop Grumman from an “equal weight” rating to an “overweight” rating and set a $595.00 target price on the stock in a research note on Wednesday, January 8th. Eight research 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 stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $550.94.

Insider Activity

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 approximately $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 accessible through this hyperlink. In the last ninety days, insiders have sold 1,255 shares of company stock worth $663,859. Corporate insiders own 0.22% of the company’s stock.

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.