Northrop Grumman Co. (NYSE:NOC) Shares Bought by Axxcess Wealth Management LLC

Axxcess Wealth Management LLC raised its position in shares of Northrop Grumman Co. (NYSE:NOC) by 14.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,859 shares of the aerospace company’s stock after acquiring an additional 231 shares during the quarter. Axxcess Wealth Management LLC’s holdings in Northrop Grumman were worth $872,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in NOC. Wellington Management Group LLP lifted its holdings in Northrop Grumman by 0.4% in the 3rd quarter. Wellington Management Group LLP now owns 4,140,892 shares of the aerospace company’s stock valued at $2,186,681,000 after purchasing an additional 17,596 shares in the last quarter. Geode Capital Management LLC raised its position in shares of Northrop Grumman by 0.6% in the third 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 shares of Northrop Grumman by 6.2% in the third quarter. Franklin Resources Inc. now owns 2,426,270 shares of the aerospace company’s stock worth $1,315,729,000 after buying an additional 141,816 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in Northrop Grumman by 2.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 832,463 shares of the aerospace company’s stock worth $390,667,000 after acquiring an additional 23,018 shares during the last quarter. Finally, Two Sigma Advisers LP grew its stake in Northrop Grumman by 102.6% during the 3rd quarter. Two Sigma Advisers LP now owns 735,600 shares of the aerospace company’s stock valued at $388,448,000 after acquiring an additional 372,500 shares in the last quarter. Hedge funds and other institutional investors own 83.40% of the company’s stock.

Insider Buying and Selling at Northrop Grumman

In other news, CEO Kathy J. Warden sold 3,750 shares of Northrop Grumman stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $475.65, for a total value of $1,783,687.50. Following the completion of the transaction, the chief executive officer now owns 212,852 shares in the company, valued at approximately $101,243,053.80. This trade represents a 1.73 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP Benjamin R. Davies sold 192 shares of the company’s stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $429.08, for a total transaction of $82,383.36. Following the sale, the vice president now owns 709 shares in the company, valued at $304,217.72. The trade was a 21.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 4,505 shares of company stock valued at $2,126,405 in the last 90 days. Company insiders own 0.22% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on NOC. Wells Fargo & Company boosted their target price on Northrop Grumman from $545.00 to $547.00 and gave the stock an “overweight” rating in a report on Friday, March 7th. 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 objective on the stock. Susquehanna cut their target price on Northrop Grumman from $625.00 to $557.00 and set a “positive” rating for the company in a research note on Wednesday, January 8th. Barclays lowered 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 research report on Monday, January 6th. Finally, Argus upgraded shares of Northrop Grumman to a “strong-buy” rating in a research report on Wednesday, February 26th. Nine analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $542.88.

Northrop Grumman Trading Down 0.5 %

NOC opened at $488.98 on Friday. The company has a quick ratio of 0.91, a current ratio of 1.01 and a debt-to-equity ratio of 0.96. The firm has a market cap of $70.78 billion, a P/E ratio of 17.25, a P/E/G ratio of 3.73 and a beta of 0.31. Northrop Grumman Co. has a 52 week low of $418.60 and a 52 week high of $555.57. The business has a fifty day simple moving average of $474.50 and a 200-day simple moving average of $493.74.

Northrop Grumman (NYSE:NOC) last released its earnings results on Thursday, January 30th. The aerospace company reported $6.39 earnings per share 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 28.05 earnings per share for the current year.

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

Northrop Grumman Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 19th. Shareholders of record on Monday, March 3rd were issued a dividend of $2.06 per share. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $8.24 dividend on an annualized basis and a yield of 1.69%. Northrop Grumman’s dividend payout ratio (DPR) is presently 29.08%.

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.