Empirical Financial Services LLC d.b.a. Empirical Wealth Management Sells 32 Shares of Northrop Grumman Co. (NYSE:NOC)

Empirical Financial Services LLC d.b.a. Empirical Wealth Management decreased its holdings in Northrop Grumman Co. (NYSE:NOC) by 1.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,352 shares of the aerospace company’s stock after selling 32 shares during the quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management’s holdings in Northrop Grumman were worth $1,104,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of NOC. Cornell Pochily Investment Advisors Inc. increased its holdings in Northrop Grumman by 0.9% in the third quarter. Cornell Pochily Investment Advisors Inc. now owns 2,141 shares of the aerospace company’s stock worth $1,131,000 after purchasing an additional 20 shares in the last quarter. Asset Dedication LLC increased its stake in shares of Northrop Grumman by 1.0% in the 3rd quarter. Asset Dedication LLC now owns 2,025 shares of the aerospace company’s stock valued at $1,069,000 after acquiring an additional 20 shares in the last quarter. Foundations Investment Advisors LLC lifted its position in shares of Northrop Grumman by 1.4% during the 3rd quarter. Foundations Investment Advisors LLC now owns 1,478 shares of the aerospace company’s stock valued at $780,000 after acquiring an additional 20 shares during the period. PBMares Wealth Management LLC boosted its stake in Northrop Grumman by 0.5% during the third quarter. PBMares Wealth Management LLC now owns 4,421 shares of the aerospace company’s stock worth $2,335,000 after acquiring an additional 20 shares in the last quarter. Finally, Hudson Valley Investment Advisors Inc. ADV increased its stake in Northrop Grumman by 0.9% in the third quarter. Hudson Valley Investment Advisors Inc. ADV now owns 2,262 shares of the aerospace company’s stock valued at $1,194,000 after purchasing an additional 20 shares in the last quarter. 83.40% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Northrop Grumman

In other Northrop Grumman news, VP Benjamin R. Davies sold 1,156 shares of the business’s stock in a transaction dated 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 in the company, valued at $286,183.41. The trade was a 68.28 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Over the last 90 days, insiders sold 1,255 shares of company stock worth $663,859. 0.22% of the stock is owned by company insiders.

Analyst Ratings Changes

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

Northrop Grumman Stock Down 3.3 %

Shares of NYSE:NOC opened at $486.68 on Wednesday. The company has a market capitalization of $70.91 billion, a PE ratio of 30.15, a price-to-earnings-growth ratio of 0.95 and a beta of 0.35. The company has a debt-to-equity ratio of 1.00, a current ratio of 1.09 and a quick ratio of 0.97. The business has a fifty day moving average price of $478.95 and a two-hundred day moving average price of $497.36. Northrop Grumman Co. has a 1 year low of $418.60 and a 1 year high of $555.57.

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

Northrop Grumman Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, December 18th. Investors of record on Monday, December 2nd were issued a $2.06 dividend. This represents a $8.24 dividend on an annualized basis and a dividend yield of 1.69%. The ex-dividend date was Monday, December 2nd. Northrop Grumman’s dividend payout ratio (DPR) is currently 51.05%.

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.