Diversify Wealth Management LLC Invests $395,000 in Northrop Grumman Co. (NYSE:NOC)

Diversify Wealth Management LLC bought a new stake in Northrop Grumman Co. (NYSE:NOC) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 860 shares of the aerospace company’s stock, valued at approximately $395,000.

Several other hedge funds have also recently added to or reduced their stakes in NOC. RPg Family Wealth Advisory LLC acquired a new position in shares of Northrop Grumman during the third quarter valued at $31,000. FSA Wealth Management LLC bought a new position in Northrop Grumman in the 3rd quarter valued at about $36,000. Catalyst Capital Advisors LLC acquired a new position in Northrop Grumman during the 3rd quarter valued at about $40,000. Modus Advisors LLC bought a new stake in shares of Northrop Grumman during the 4th quarter worth about $38,000. Finally, True Wealth Design LLC acquired a new stake in shares of Northrop Grumman in the 3rd quarter worth approximately $53,000. Institutional investors own 83.40% of the company’s stock.

Northrop Grumman Price Performance

Shares of NYSE:NOC opened at $502.03 on Thursday. The company’s fifty day moving average is $478.98 and its two-hundred day moving average is $495.31. The company has a market cap of $73.15 billion, a P/E ratio of 31.10, a price-to-earnings-growth ratio of 0.91 and a beta of 0.35. Northrop Grumman Co. has a 12-month low of $418.60 and a 12-month high of $555.57. The company has a quick ratio of 0.97, a current ratio of 1.09 and a debt-to-equity ratio of 1.00.

Northrop Grumman (NYSE:NOC) last posted its quarterly earnings results on Thursday, October 24th. The aerospace company reported $7.00 earnings per share for the quarter, beating the consensus estimate of $6.07 by $0.93. Northrop Grumman had a return on equity of 26.57% and a net margin of 5.79%. The firm had revenue of $10 billion for the quarter, compared to analyst estimates of $10.18 billion. During the same period in the previous year, the firm earned $6.18 earnings per share. Northrop Grumman’s quarterly revenue was up 2.3% on a year-over-year basis. Equities analysts expect that Northrop Grumman Co. will post 25.95 earnings per share for the current fiscal year.

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

Northrop Grumman Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, December 18th. Investors of record on Monday, December 2nd were issued a dividend of $2.06 per share. This represents a $8.24 annualized dividend and a dividend yield of 1.64%. The ex-dividend date was Monday, December 2nd. Northrop Grumman’s dividend payout ratio is currently 51.05%.

Insider Activity at Northrop Grumman

In other Northrop Grumman news, VP Benjamin R. Davies sold 1,156 shares of Northrop Grumman stock in a transaction 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 completion of the sale, the vice president now owns 537 shares of the company’s stock, valued at $286,183.41. This trade represents a 68.28 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Over the last three months, insiders have sold 1,255 shares of company stock valued at $663,859. Corporate insiders own 0.22% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently commented on the stock. UBS Group raised their price objective on shares of Northrop Grumman from $614.00 to $643.00 and gave the company a “buy” rating in a research note on Friday, October 25th. Barclays dropped their price objective on Northrop Grumman from $550.00 to $500.00 and set an “equal weight” rating on the stock in a research note on Monday, January 6th. Susquehanna decreased 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. Wells Fargo & Company upgraded shares of Northrop Grumman from an “equal weight” rating to an “overweight” rating and set a $595.00 price target on the stock in a research report on Wednesday, January 8th. Finally, Royal Bank of Canada raised their price objective on shares of Northrop Grumman from $500.00 to $540.00 and gave the company a “sector perform” rating in a research report on Friday, October 25th. 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 company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $550.94.

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.