Sovran Advisors LLC Acquires New Shares in Northrop Grumman Co. (NYSE:NOC)

Sovran Advisors LLC bought a new position in shares of Northrop Grumman Co. (NYSE:NOC) during the 4th quarter, according to its most recent filing with the SEC. The institutional investor bought 488 shares of the aerospace company’s stock, valued at approximately $232,000.

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

Northrop Grumman Stock Performance

NOC opened at $454.09 on Friday. 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 Co. has a 12-month low of $418.60 and a 12-month high of $555.57. The firm has a 50 day moving average of $476.15 and a two-hundred day moving average of $499.78. The firm has a market capitalization of $65.73 billion, a PE ratio of 16.02, a P/E/G ratio of 3.00 and a beta of 0.35.

Northrop Grumman (NYSE:NOC) last issued its earnings results on Thursday, January 30th. The aerospace company reported $6.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.27 by $0.12. Northrop Grumman had a net margin of 10.17% and a return on equity of 26.24%. On average, analysts anticipate that Northrop Grumman Co. will post 27.94 EPS for the current year.

Northrop Grumman declared that its Board of Directors has initiated a share buyback plan on Wednesday, December 11th that authorizes the company to repurchase $3.00 billion in shares. This repurchase authorization authorizes the aerospace company to purchase up to 4.3% of its shares through open market purchases. Shares repurchase plans are usually a sign 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. Stockholders of record on Monday, December 2nd were paid a $2.06 dividend. The ex-dividend date of this dividend was Monday, December 2nd. This represents a $8.24 dividend on an annualized basis and a dividend yield of 1.81%. Northrop Grumman’s payout ratio is 29.08%.

Analysts Set New Price Targets

Several research firms have issued reports on NOC. Citigroup lifted their target price on Northrop Grumman from $587.00 to $591.00 and gave the company a “buy” rating in a research note on Monday. Truist Financial began coverage on shares of Northrop Grumman in a research note on Tuesday, January 14th. They set a “buy” rating and a $544.00 price objective for the company. Royal Bank of Canada raised their target price on shares of Northrop Grumman from $500.00 to $540.00 and gave the company a “sector perform” rating in a research note on Friday, October 25th. Wells Fargo & Company decreased their price objective on Northrop Grumman from $595.00 to $574.00 and set an “overweight” rating for the company in a report on Friday, January 31st. Finally, UBS Group dropped their target price on Northrop Grumman from $579.00 to $558.00 and set a “buy” rating on the stock in a research note on Friday, January 31st. Nine analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $544.56.

Northrop Grumman 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.