Purus Wealth Management LLC Has $922,000 Position in Northrop Grumman Co. (NYSE:NOC)

Purus Wealth Management LLC lessened its position in Northrop Grumman Co. (NYSE:NOC) by 1.6% in the fourth quarter, HoldingsChannel.com reports. The fund owned 1,965 shares of the aerospace company’s stock after selling 32 shares during the period. Purus Wealth Management LLC’s holdings in Northrop Grumman were worth $922,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently modified their holdings of NOC. RPg Family Wealth Advisory LLC bought a new stake in Northrop Grumman in the 3rd quarter valued at $31,000. FSA Wealth Management LLC acquired a new position in shares of Northrop Grumman in the third quarter valued at $36,000. Modus Advisors LLC bought a new position in shares of Northrop Grumman in the fourth quarter valued at about $38,000. Catalyst Capital Advisors LLC acquired a new stake in shares of Northrop Grumman during the 3rd quarter worth about $40,000. Finally, True Wealth Design LLC bought a new stake in shares of Northrop Grumman during the 3rd quarter worth about $53,000. 83.40% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Northrop Grumman

In related news, VP Benjamin R. Davies sold 1,156 shares of the company’s stock in a transaction that occurred on Monday, November 11th. The stock was 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 in the company, valued at $286,183.41. This represents a 68.28 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Over the last 90 days, insiders sold 1,255 shares of company stock valued at $663,859. 0.22% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several research analysts have weighed in on NOC shares. UBS Group increased their price target on shares of Northrop Grumman from $614.00 to $643.00 and gave the company a “buy” rating in a report on Friday, October 25th. Truist Financial initiated coverage on Northrop Grumman in a research note on Tuesday, January 14th. They set a “buy” rating and a $544.00 target price on the stock. TD Cowen upgraded Northrop Grumman to a “hold” rating in a research note on Tuesday, October 8th. Susquehanna lowered their price objective on Northrop Grumman from $625.00 to $557.00 and set a “positive” rating on the stock in a research report on Wednesday, January 8th. Finally, JPMorgan Chase & Co. lifted their target price on Northrop Grumman from $500.00 to $560.00 and gave the stock a “neutral” rating in a report on Monday, October 14th. Nine investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $550.94.

Northrop Grumman Stock Performance

Shares of Northrop Grumman stock opened at $482.49 on Monday. The company has a 50 day moving average of $480.55 and a 200-day moving average of $494.10. The company has a market cap of $70.30 billion, a PE ratio of 29.89, a price-to-earnings-growth ratio of 0.87 and a beta of 0.35. 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 Co. has a 1-year low of $418.60 and a 1-year high of $555.57.

Northrop Grumman (NYSE:NOC) last issued its earnings results on Thursday, October 24th. The aerospace company reported $7.00 earnings per share for the quarter, beating analysts’ consensus estimates 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 the consensus estimate of $10.18 billion. During the same quarter last year, the business posted $6.18 EPS. The company’s revenue was up 2.3% compared to the same quarter last year. As a group, equities research analysts forecast that Northrop Grumman Co. will post 25.93 earnings per share for the current fiscal year.

Northrop Grumman announced that its board has authorized a stock buyback program on Wednesday, December 11th that permits the company to buyback $3.00 billion in shares. This buyback authorization permits the aerospace company to repurchase up to 4.3% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s leadership believes its stock is undervalued.

Northrop Grumman Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, December 18th. Stockholders of record on Monday, December 2nd were issued 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 1.71%. Northrop Grumman’s dividend payout ratio (DPR) is currently 51.05%.

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.