Panoramic Capital Partners LLC Purchases Shares of 703 Northrop Grumman Co. (NYSE:NOC)

Panoramic Capital Partners LLC acquired a new position in Northrop Grumman Co. (NYSE:NOC) during the fourth quarter, HoldingsChannel reports. The institutional investor acquired 703 shares of the aerospace company’s stock, valued at approximately $330,000.

Several other hedge funds have also modified their holdings of NOC. CWM LLC lifted its position in Northrop Grumman by 13.4% during the third quarter. CWM LLC now owns 6,763 shares of the aerospace company’s stock valued at $3,571,000 after purchasing an additional 797 shares during the last quarter. Ritholtz Wealth Management lifted its holdings in shares of Northrop Grumman by 11.6% in the 3rd quarter. Ritholtz Wealth Management now owns 1,366 shares of the aerospace company’s stock valued at $721,000 after acquiring an additional 142 shares during the last quarter. Exchange Traded Concepts LLC grew its position in Northrop Grumman by 18.0% in the third quarter. Exchange Traded Concepts LLC now owns 1,736 shares of the aerospace company’s stock worth $917,000 after acquiring an additional 265 shares in the last quarter. Koshinski Asset Management Inc. increased its stake in Northrop Grumman by 4.9% during the third quarter. Koshinski Asset Management Inc. now owns 1,158 shares of the aerospace company’s stock worth $611,000 after acquiring an additional 54 shares during the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. raised its position in Northrop Grumman by 63.0% during the third quarter. Thurston Springer Miller Herd & Titak Inc. now owns 194 shares of the aerospace company’s stock valued at $102,000 after purchasing an additional 75 shares during the period. 83.40% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have recently weighed in on NOC. Barclays cut their target price on Northrop Grumman from $550.00 to $500.00 and set an “equal weight” rating on the stock in a research report on Monday, January 6th. Truist Financial began coverage on shares of Northrop Grumman in a research note on Tuesday, January 14th. They issued a “buy” rating and a $544.00 target price on the stock. Susquehanna dropped their price target on shares of Northrop Grumman from $625.00 to $557.00 and set a “positive” rating for the company in a research note on Wednesday, January 8th. Citigroup increased their price objective on shares of Northrop Grumman from $587.00 to $591.00 and gave the stock a “buy” rating in a research report on Monday. Finally, Wolfe Research raised Northrop Grumman from an “underperform” rating to a “peer perform” rating in a research note on Monday, February 3rd. Nine research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, Northrop Grumman has an average rating of “Moderate Buy” and a consensus target price of $544.56.

Northrop Grumman Trading Up 1.1 %

NYSE NOC opened at $473.94 on Tuesday. Northrop Grumman Co. has a one year low of $418.60 and a one year high of $555.57. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.91 and a current ratio of 1.01. The company has a market capitalization of $68.61 billion, a price-to-earnings ratio of 16.72, a price-to-earnings-growth ratio of 3.00 and a beta of 0.35. The company’s 50-day simple moving average is $476.91 and its two-hundred day simple moving average is $500.01.

Northrop Grumman (NYSE:NOC) last issued its quarterly earnings data on Thursday, January 30th. The aerospace company reported $6.39 earnings per share (EPS) for the quarter, beating 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%. Equities analysts forecast that Northrop Grumman Co. will post 27.94 EPS for the current fiscal year.

Northrop Grumman declared that its Board of Directors has authorized a stock buyback program on Wednesday, December 11th that allows the company to buyback $3.00 billion in outstanding shares. This buyback authorization allows the aerospace company to purchase up to 4.3% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board of directors believes its shares are undervalued.

Northrop Grumman Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, December 18th. Shareholders of record on Monday, December 2nd were given a dividend of $2.06 per share. This represents a $8.24 annualized dividend and a dividend yield of 1.74%. The ex-dividend date was Monday, December 2nd. Northrop Grumman’s payout ratio is 29.08%.

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.