Allen Capital Group LLC Grows Stock Position in Northrop Grumman Co. (NYSE:NOC)

Allen Capital Group LLC grew its position in Northrop Grumman Co. (NYSE:NOC) by 5.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,053 shares of the aerospace company’s stock after acquiring an additional 58 shares during the quarter. Allen Capital Group LLC’s holdings in Northrop Grumman were worth $494,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. RPg Family Wealth Advisory LLC purchased a new position in shares of Northrop Grumman in the third quarter valued at approximately $31,000. Albion Financial Group UT purchased a new position in Northrop Grumman during the fourth quarter worth approximately $33,000. FSA Wealth Management LLC purchased a new position in Northrop Grumman during the third quarter worth approximately $36,000. Modus Advisors LLC purchased a new position in Northrop Grumman during the fourth quarter worth approximately $38,000. Finally, Catalyst Capital Advisors LLC purchased a new position in Northrop Grumman during the third quarter worth approximately $40,000. Hedge funds and other institutional investors own 83.40% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on NOC. Wells Fargo & Company upgraded Northrop Grumman from an “equal weight” rating to an “overweight” rating and set a $595.00 price objective on the stock in a research report on Wednesday, January 8th. Susquehanna reduced their price objective on Northrop Grumman from $625.00 to $557.00 and set a “positive” rating on the stock in a research report on Wednesday, January 8th. Truist Financial assumed coverage on Northrop Grumman in a research note on Tuesday, January 14th. They set a “buy” rating and a $544.00 target price for the company. TD Cowen raised Northrop Grumman to a “hold” rating in a research note on Tuesday, October 8th. Finally, StockNews.com raised Northrop Grumman from a “buy” rating to a “strong-buy” rating in a research note on Sunday, January 19th. Eight research 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.com, Northrop Grumman has an average rating of “Moderate Buy” and an average price target of $550.94.

Northrop Grumman Trading Down 1.0 %

NOC opened at $481.56 on Thursday. Northrop Grumman Co. has a 12 month low of $418.60 and a 12 month high of $555.57. The stock has a market capitalization of $70.16 billion, a price-to-earnings ratio of 29.84, a PEG 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 $478.87 and a 200 day moving average price of $497.74.

Northrop Grumman Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, December 18th. Investors of record on Monday, December 2nd were paid a dividend of $2.06 per share. The ex-dividend date was Monday, December 2nd. This represents a $8.24 annualized dividend and a yield of 1.71%. Northrop Grumman’s payout ratio is 51.05%.

Northrop Grumman announced that its Board of Directors has initiated a share buyback program on Wednesday, December 11th that allows the company to buyback $3.00 billion in shares. This buyback authorization allows the aerospace company to purchase up to 4.3% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.

Insiders Place Their Bets

In other Northrop Grumman news, VP Benjamin R. Davies sold 1,156 shares of Northrop Grumman stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $532.93, for a total transaction of $616,067.08. Following the completion of the sale, 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 position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders sold 1,255 shares of company stock valued at $663,859 in the last ninety days. Insiders own 0.22% of the company’s stock.

Northrop Grumman Company 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.