Ieq Capital LLC Buys 5,402 Shares of Northrop Grumman Co. (NYSE:NOC)

Ieq Capital LLC grew its stake in Northrop Grumman Co. (NYSE:NOC) by 62.4% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 14,065 shares of the aerospace company’s stock after buying an additional 5,402 shares during the quarter. Ieq Capital LLC’s holdings in Northrop Grumman were worth $6,600,000 at the end of the most recent reporting period.

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

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on NOC shares. Wolfe Research upgraded Northrop Grumman from an “underperform” rating to a “peer perform” rating in a research report on Monday, February 3rd. UBS Group lowered their price objective on shares of Northrop Grumman from $579.00 to $558.00 and set a “buy” rating for the company in a report on Friday, January 31st. Truist Financial initiated coverage on shares of Northrop Grumman in a report on Tuesday, January 14th. They set a “buy” rating and a $544.00 target price on the stock. Wells Fargo & Company lowered their price target on shares of Northrop Grumman from $595.00 to $574.00 and set an “overweight” rating for the company in a research note on Friday, January 31st. Finally, Royal Bank of Canada upped their price target on shares of Northrop Grumman from $500.00 to $540.00 and gave the company a “sector perform” rating in a research report on Friday, October 25th. Nine research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $544.56.

Northrop Grumman Price Performance

Shares of NOC stock opened at $438.46 on Friday. 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 firm has a market cap of $63.47 billion, a P/E ratio of 15.47, a P/E/G ratio of 3.76 and a beta of 0.35. The business’s 50 day moving average price is $471.66 and its 200-day moving average price is $497.75. Northrop Grumman Co. has a fifty-two week low of $418.60 and a fifty-two week high of $555.57.

Northrop Grumman (NYSE:NOC) last released its quarterly earnings results on Thursday, January 30th. The aerospace company reported $6.39 earnings per share 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%. On average, equities research analysts anticipate that Northrop Grumman Co. will post 28.05 earnings per share for the current year.

Northrop Grumman declared that its board has authorized a share repurchase program on Wednesday, December 11th that permits the company to buyback $3.00 billion in outstanding shares. This buyback authorization permits the aerospace company to buy up to 4.3% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s board believes its shares are undervalued.

Northrop Grumman Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 19th. Shareholders of record on Monday, March 3rd will be issued a $2.06 dividend. The ex-dividend date is Monday, March 3rd. This represents a $8.24 annualized dividend and a yield of 1.88%. Northrop Grumman’s dividend payout ratio (DPR) is presently 29.08%.

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.