Evermay Wealth Management LLC Sells 50 Shares of Northrop Grumman Co. (NYSE:NOC)

Evermay Wealth Management LLC cut its stake in Northrop Grumman Co. (NYSE:NOC) by 2.5% in the 4th quarter, Holdings Channel.com reports. The firm owned 1,971 shares of the aerospace company’s stock after selling 50 shares during the quarter. Evermay Wealth Management LLC’s holdings in Northrop Grumman were worth $925,000 as of its most recent filing with the SEC.

Other hedge funds also recently made changes to their positions in the company. Marietta Wealth Management LLC increased its holdings in shares of Northrop Grumman by 11.2% in the 4th quarter. Marietta Wealth Management LLC now owns 5,195 shares of the aerospace company’s stock worth $2,438,000 after buying an additional 522 shares during the last quarter. Chicago Partners Investment Group LLC increased its stake in Northrop Grumman by 33.8% in the fourth quarter. Chicago Partners Investment Group LLC now owns 843 shares of the aerospace company’s stock valued at $390,000 after acquiring an additional 213 shares during the last quarter. Everett Harris & Co. CA raised its position in Northrop Grumman by 2.4% during the fourth quarter. Everett Harris & Co. CA now owns 1,324 shares of the aerospace company’s stock valued at $621,000 after purchasing an additional 31 shares in the last quarter. Oxler Private Wealth LLC lifted its stake in Northrop Grumman by 0.4% during the fourth quarter. Oxler Private Wealth LLC now owns 7,116 shares of the aerospace company’s stock worth $3,340,000 after purchasing an additional 27 shares during the last quarter. Finally, Caprock Group LLC purchased a new position in shares of Northrop Grumman in the 4th quarter worth about $1,344,000. 83.40% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Northrop Grumman

In other news, VP Benjamin R. Davies sold 1,156 shares of the stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $532.93, for a total transaction of $616,067.08. Following the sale, the vice president now owns 537 shares in the company, valued at $286,183.41. This represents a 68.28 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In the last ninety days, insiders sold 1,255 shares of company stock worth $663,859. 0.22% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several brokerages have issued reports on NOC. 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. Truist Financial assumed coverage on shares of Northrop Grumman in a research note on Tuesday, January 14th. They issued a “buy” rating and a $544.00 price objective for the company. Wells Fargo & Company decreased their target price on shares of Northrop Grumman from $595.00 to $574.00 and set an “overweight” rating on the stock in a research report on Friday. StockNews.com upgraded shares of Northrop Grumman from a “buy” rating to a “strong-buy” rating in a research report on Sunday, January 19th. Finally, TD Cowen raised Northrop Grumman to a “hold” rating in a research note on Tuesday, October 8th. Eight research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $544.31.

Northrop Grumman Price Performance

NOC opened at $486.97 on Friday. Northrop Grumman Co. has a 12-month low of $418.60 and a 12-month high of $555.57. The company has a market cap of $70.95 billion, a price-to-earnings ratio of 30.17, a price-to-earnings-growth ratio of 0.91 and a beta of 0.35. The stock has a fifty day simple moving average of $478.20 and a two-hundred day simple moving average of $497.91. The company has a current ratio of 1.09, a quick ratio of 0.97 and a debt-to-equity ratio of 1.00.

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 26.57% and a net margin of 5.79%. Research analysts predict that Northrop Grumman Co. will post 25.96 earnings per share for the current fiscal year.

Northrop Grumman announced that its board has approved a stock repurchase plan on Wednesday, December 11th that allows the company to buyback $3.00 billion in outstanding shares. This buyback authorization allows the aerospace company to purchase up to 4.3% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s board of directors believes its stock is undervalued.

Northrop Grumman Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, December 18th. Investors of record on Monday, December 2nd were given a dividend of $2.06 per share. This represents a $8.24 annualized dividend and a yield of 1.69%. The ex-dividend date of this dividend was Monday, December 2nd. Northrop Grumman’s dividend payout ratio (DPR) is 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.