Huber Capital Management LLC Cuts Stake in Northrop Grumman Co. (NYSE:NOC)

Huber Capital Management LLC decreased its holdings in Northrop Grumman Co. (NYSE:NOC) by 51.3% in the fourth quarter, Holdings Channel.com reports. The firm owned 12,293 shares of the aerospace company’s stock after selling 12,925 shares during the period. Huber Capital Management LLC’s holdings in Northrop Grumman were worth $5,769,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Whipplewood Advisors LLC purchased a new stake in Northrop Grumman during the fourth quarter valued at about $31,000. Albion Financial Group UT purchased a new stake in Northrop Grumman during the 4th quarter valued at about $33,000. Modus Advisors LLC purchased a new stake in Northrop Grumman during the 4th quarter valued at about $38,000. Stonebridge Financial Group LLC bought a new position in Northrop Grumman during the 4th quarter worth approximately $42,000. Finally, Rakuten Securities Inc. increased its stake in Northrop Grumman by 291.7% in the 4th quarter. Rakuten Securities Inc. now owns 94 shares of the aerospace company’s stock worth $44,000 after purchasing an additional 70 shares during the period. Institutional investors own 83.40% of the company’s stock.

Insider Transactions at Northrop Grumman

In other Northrop Grumman news, CEO Kathy J. Warden sold 3,750 shares of the 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 transaction, the chief executive officer now owns 212,852 shares of the company’s stock, valued at approximately $101,243,053.80. This represents a 1.73 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Benjamin R. Davies sold 464 shares of the business’s stock in a transaction dated Friday, February 28th. The shares were sold at an average price of $460.75, for a total value of $213,788.00. Following the sale, the vice president now owns 245 shares of the company’s stock, valued at approximately $112,883.75. This represents a 65.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 4,505 shares of company stock worth $2,126,405 over the last three months. 0.22% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the stock. UBS Group cut their target price on shares of Northrop Grumman from $579.00 to $558.00 and set a “buy” rating on the stock in a report on Friday, January 31st. Argus upgraded shares of Northrop Grumman to a “strong-buy” rating in a research report on Wednesday, February 26th. Susquehanna lowered their price objective on shares of Northrop Grumman from $625.00 to $557.00 and set a “positive” rating for the company in a research note on Wednesday, January 8th. Truist Financial started coverage on Northrop Grumman in a research note on Tuesday, January 14th. They issued a “buy” rating and a $544.00 target price on the stock. Finally, Citigroup upped their price target on Northrop Grumman from $587.00 to $591.00 and gave the company a “buy” rating in a research report on Monday, February 10th. Eight analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $545.06.

Northrop Grumman Price Performance

Shares of NYSE NOC opened at $512.16 on Thursday. The firm has a market cap of $74.14 billion, a P/E ratio of 18.07, a PEG ratio of 3.73 and a beta of 0.31. Northrop Grumman Co. has a twelve month low of $418.60 and a twelve month high of $555.57. 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 company has a 50 day moving average of $479.17 and a 200 day moving average of $492.73.

Northrop Grumman (NYSE:NOC) last posted its quarterly earnings results on Thursday, January 30th. The aerospace company reported $6.39 earnings per share for the quarter, topping 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%. As a group, research analysts expect that Northrop Grumman Co. will post 28.05 EPS for the current fiscal year.

Northrop Grumman announced that its Board of Directors has initiated a stock repurchase plan 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 stock through open market purchases. Stock buyback plans are usually a sign that the company’s management believes its stock is undervalued.

Northrop Grumman Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 19th. Stockholders of record on Monday, March 3rd were issued a dividend of $2.06 per share. This represents a $8.24 dividend on an annualized basis and a dividend yield of 1.61%. The ex-dividend date was Monday, March 3rd. Northrop Grumman’s payout ratio is presently 29.08%.

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.