Northrop Grumman Co. (NYSE:NOC) Shares Sold by Schechter Investment Advisors LLC

Schechter Investment Advisors LLC lessened its holdings in shares of Northrop Grumman Co. (NYSE:NOC) by 20.6% in the fourth quarter, Holdings Channel.com reports. The firm owned 690 shares of the aerospace company’s stock after selling 179 shares during the period. Schechter Investment Advisors LLC’s holdings in Northrop Grumman were worth $324,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. SBI Securities Co. Ltd. acquired a new stake in shares of Northrop Grumman during the fourth quarter worth approximately $241,000. Jones Financial Companies Lllp boosted its stake in Northrop Grumman by 71.7% during the 4th quarter. Jones Financial Companies Lllp now owns 6,023 shares of the aerospace company’s stock valued at $2,826,000 after acquiring an additional 2,515 shares during the last quarter. Modera Wealth Management LLC grew its holdings in Northrop Grumman by 1.6% during the 4th quarter. Modera Wealth Management LLC now owns 7,974 shares of the aerospace company’s stock worth $3,742,000 after acquiring an additional 122 shares in the last quarter. SRS Capital Advisors Inc. increased its position in shares of Northrop Grumman by 810.6% in the 4th quarter. SRS Capital Advisors Inc. now owns 856 shares of the aerospace company’s stock worth $402,000 after purchasing an additional 762 shares during the last quarter. Finally, Smartleaf Asset Management LLC raised its stake in shares of Northrop Grumman by 40.6% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,275 shares of the aerospace company’s stock valued at $595,000 after purchasing an additional 368 shares in the last quarter. 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 464 shares of the stock in a transaction that occurred on Friday, February 28th. The shares were sold at an average price of $460.75, for a total value of $213,788.00. Following the completion of the transaction, the vice president now directly owns 245 shares in the company, valued at $112,883.75. This trade represents a 65.44 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In the last 90 days, insiders have sold 722 shares of company stock valued at $327,086. Company insiders own 0.22% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on NOC shares. StockNews.com downgraded Northrop Grumman from a “strong-buy” rating to a “buy” rating in a research note on Monday, February 3rd. Truist Financial initiated coverage on Northrop Grumman in a research report on Tuesday, January 14th. They issued a “buy” rating and a $544.00 target price for the company. Argus upgraded Northrop Grumman to a “strong-buy” rating in a report on Wednesday, February 26th. Wolfe Research raised shares of Northrop Grumman from an “underperform” rating to a “peer perform” rating in a report on Monday, February 3rd. Finally, Wells Fargo & Company dropped their target price on shares of Northrop Grumman from $574.00 to $545.00 and set an “overweight” rating on the stock in a report on Wednesday, February 26th. Nine analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $542.75.

Northrop Grumman Stock Performance

NOC opened at $474.71 on Thursday. Northrop Grumman Co. has a twelve month low of $418.60 and a twelve month high of $555.57. The stock has a market cap of $68.72 billion, a PE ratio of 16.75, a price-to-earnings-growth ratio of 3.73 and a beta of 0.35. The business’s 50 day moving average is $469.50 and its 200-day moving average is $495.46. The company has a current ratio of 1.01, a quick ratio of 0.91 and a debt-to-equity ratio of 0.96.

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, topping analysts’ consensus estimates 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, analysts predict that Northrop Grumman Co. will post 28.05 earnings per share for the current year.

Northrop Grumman declared that its Board of Directors 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 purchase up to 4.3% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s board believes its stock is undervalued.

Northrop Grumman Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, March 19th. Investors of record on Monday, March 3rd will be given a $2.06 dividend. The ex-dividend date is Monday, March 3rd. This represents a $8.24 dividend on an annualized basis and a yield of 1.74%. Northrop Grumman’s dividend 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.