Secure Asset Management LLC Sells 21 Shares of Northrop Grumman Co. (NYSE:NOC)

Secure Asset Management LLC cut its stake in Northrop Grumman Co. (NYSE:NOC) by 2.8% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 721 shares of the aerospace company’s stock after selling 21 shares during the quarter. Secure Asset Management LLC’s holdings in Northrop Grumman were worth $338,000 at the end of the most recent quarter.

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

Insider Activity at Northrop Grumman

In other Northrop Grumman news, VP Benjamin R. Davies sold 1,156 shares of the business’s stock in a transaction dated Monday, November 11th. The stock was 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 directly owns 537 shares in the company, valued at $286,183.41. The trade was a 68.28 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Over the last 90 days, insiders sold 1,255 shares of company stock worth $663,859. 0.22% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on NOC shares. Truist Financial started coverage on Northrop Grumman in a report on Tuesday, January 14th. They issued a “buy” rating and a $544.00 price objective for the company. Barclays decreased 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 research note on Monday, January 6th. Wells Fargo & Company raised shares of Northrop Grumman from an “equal weight” rating to an “overweight” rating and set a $595.00 price target for the company in a research report on Wednesday, January 8th. Susquehanna cut their price objective on shares of Northrop Grumman from $625.00 to $557.00 and set a “positive” rating on the stock in a report on Wednesday, January 8th. Finally, TD Cowen upgraded shares of Northrop Grumman to a “hold” rating in a report on Tuesday, October 8th. Eight analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $550.94.

Northrop Grumman Stock Performance

Shares of NYSE NOC opened at $497.13 on Friday. The firm’s 50-day moving average price is $478.60 and its 200-day moving average price is $495.39. Northrop Grumman Co. has a 52-week low of $418.60 and a 52-week high of $555.57. The company has a market cap of $72.43 billion, a PE ratio of 30.80, a PEG ratio of 0.95 and a beta of 0.35. 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 issued its earnings results on Thursday, October 24th. The aerospace company reported $7.00 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.07 by $0.93. The company had revenue of $10 billion for the quarter, compared to analysts’ expectations of $10.18 billion. Northrop Grumman had a net margin of 5.79% and a return on equity of 26.57%. The firm’s quarterly revenue was up 2.3% on a year-over-year basis. During the same quarter last year, the company posted $6.18 earnings per share. As a group, analysts anticipate that Northrop Grumman Co. will post 25.96 EPS for the current year.

Northrop Grumman announced that its Board of Directors has initiated a stock repurchase plan 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 plans are usually a sign that the company’s management 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 issued a $2.06 dividend. This represents a $8.24 annualized dividend and a dividend yield of 1.66%. The ex-dividend date was Monday, December 2nd. Northrop Grumman’s payout ratio is currently 51.05%.

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.