Flagship Harbor Advisors LLC Sells 58 Shares of Northrop Grumman Co. (NYSE:NOC)

Flagship Harbor Advisors LLC cut its position in Northrop Grumman Co. (NYSE:NOC) by 11.4% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 451 shares of the aerospace company’s stock after selling 58 shares during the quarter. Flagship Harbor Advisors LLC’s holdings in Northrop Grumman were worth $212,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. RPg Family Wealth Advisory LLC bought a new stake in shares of Northrop Grumman in the third quarter valued at about $31,000. FSA Wealth Management LLC bought a new stake in Northrop Grumman in the 3rd quarter valued at about $36,000. Albion Financial Group UT acquired a new position in shares of Northrop Grumman during the 4th quarter worth approximately $33,000. Catalyst Capital Advisors LLC bought a new position in shares of Northrop Grumman during the third quarter worth approximately $40,000. Finally, Modus Advisors LLC acquired a new stake in shares of Northrop Grumman in the fourth quarter valued at approximately $38,000. 83.40% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Northrop Grumman

In other news, VP Benjamin R. Davies sold 1,156 shares of the company’s stock in a transaction on Monday, November 11th. The shares were sold at an average price of $532.93, for a total value of $616,067.08. Following the sale, the vice president now directly owns 537 shares of the company’s stock, valued at approximately $286,183.41. This represents a 68.28 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In the last quarter, insiders have sold 1,255 shares of company stock worth $663,859. Insiders own 0.22% of the company’s stock.

Northrop Grumman Stock Performance

NYSE:NOC opened at $483.70 on Friday. The stock’s 50-day moving average is $478.66 and its 200-day moving average is $497.63. The stock has a market cap of $70.48 billion, a P/E ratio of 29.97, a price-to-earnings-growth ratio of 0.95 and a beta of 0.35. Northrop Grumman Co. has a 1-year low of $418.60 and a 1-year high of $555.57. 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 announced its quarterly earnings results on Thursday, January 30th. The aerospace company reported $6.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.27 by $0.12. Northrop Grumman had a net margin of 5.79% and a return on equity of 26.57%. Equities research analysts anticipate that Northrop Grumman Co. will post 25.96 earnings per share for the current year.

Northrop Grumman announced that its Board of Directors has authorized 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 stock through open market purchases. Stock buyback programs are generally an indication that the company’s management believes its stock is undervalued.

Northrop Grumman Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, December 18th. Shareholders of record on Monday, December 2nd were issued a dividend of $2.06 per share. This represents a $8.24 annualized dividend and a yield of 1.70%. The ex-dividend date of this dividend was Monday, December 2nd. Northrop Grumman’s payout ratio is presently 51.05%.

Analyst Ratings Changes

A number of research firms have commented on NOC. Citigroup upgraded Northrop Grumman from a “neutral” rating to a “buy” rating and set a $587.00 price objective on the stock in a research note on Tuesday, January 21st. JPMorgan Chase & Co. raised their price target on Northrop Grumman from $500.00 to $560.00 and gave the stock a “neutral” rating in a research report on Monday, October 14th. Royal Bank of Canada upped their price objective on shares of Northrop Grumman from $500.00 to $540.00 and gave the stock a “sector perform” rating in a research report on Friday, October 25th. Truist Financial started coverage on shares of Northrop Grumman in a report on Tuesday, January 14th. They issued a “buy” rating and a $544.00 target price on the stock. Finally, Barclays cut their price target on shares of Northrop Grumman from $550.00 to $500.00 and set an “equal weight” rating for the company in a report on Monday, January 6th. Eight investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $550.94.

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.