Cutter & CO Brokerage Inc. Has $3.34 Million Holdings in Northrop Grumman Co. (NYSE:NOC)

Cutter & CO Brokerage Inc. cut its holdings in Northrop Grumman Co. (NYSE:NOC) by 0.7% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 7,115 shares of the aerospace company’s stock after selling 50 shares during the period. Northrop Grumman comprises approximately 0.8% of Cutter & CO Brokerage Inc.’s investment portfolio, making the stock its 29th biggest holding. Cutter & CO Brokerage Inc.’s holdings in Northrop Grumman were worth $3,339,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Hudson Valley Investment Advisors Inc. ADV raised its holdings in shares of Northrop Grumman by 0.9% in the third quarter. Hudson Valley Investment Advisors Inc. ADV now owns 2,262 shares of the aerospace company’s stock valued at $1,194,000 after purchasing an additional 20 shares during the last quarter. PBMares Wealth Management LLC raised its position in Northrop Grumman by 0.5% during the third quarter. PBMares Wealth Management LLC now owns 4,421 shares of the aerospace company’s stock worth $2,335,000 after acquiring an additional 20 shares in the last quarter. Meeder Advisory Services Inc. raised its position in Northrop Grumman by 0.9% during the third quarter. Meeder Advisory Services Inc. now owns 2,288 shares of the aerospace company’s stock worth $1,208,000 after acquiring an additional 20 shares in the last quarter. Thompson Siegel & Walmsley LLC raised its position in Northrop Grumman by 0.3% during the third quarter. Thompson Siegel & Walmsley LLC now owns 8,320 shares of the aerospace company’s stock worth $4,394,000 after acquiring an additional 21 shares in the last quarter. Finally, Sapient Capital LLC raised its position in Northrop Grumman by 1.1% during the fourth quarter. Sapient Capital LLC now owns 2,049 shares of the aerospace company’s stock worth $962,000 after acquiring an additional 22 shares in the last quarter. 83.40% of the stock is currently owned by institutional investors and hedge funds.

Northrop Grumman Trading Up 2.5 %

NOC stock opened at $461.03 on Wednesday. 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’s 50-day simple moving average is $469.99 and its 200 day simple moving average is $497.05. Northrop Grumman Co. has a 52 week low of $418.60 and a 52 week high of $555.57. The company has a market capitalization of $66.74 billion, a PE ratio of 16.27, a price-to-earnings-growth ratio of 3.73 and a beta of 0.35.

Northrop Grumman (NYSE:NOC) last announced its quarterly earnings data on Thursday, January 30th. The aerospace company reported $6.39 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $6.27 by $0.12. Northrop Grumman had a net margin of 10.17% and a return on equity of 26.24%. As a group, sell-side analysts anticipate that Northrop Grumman Co. will post 28.05 earnings per share for the current year.

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

Northrop Grumman Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 19th. Shareholders of record on Monday, March 3rd will be paid a dividend of $2.06 per share. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $8.24 dividend on an annualized basis and a yield of 1.79%. Northrop Grumman’s payout ratio is 29.08%.

Insider Transactions at Northrop Grumman

In other news, VP Benjamin R. Davies sold 192 shares of the stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $429.08, for a total value of $82,383.36. Following the completion of the transaction, the vice president now owns 709 shares of the company’s stock, valued at approximately $304,217.72. This represents a 21.31 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Over the last 90 days, insiders sold 291 shares of company stock valued at $129,184. 0.22% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

NOC has been the topic of several analyst reports. UBS Group dropped their price target on shares of Northrop Grumman from $579.00 to $558.00 and set a “buy” rating on the stock in a research report on Friday, January 31st. Citigroup upped their price target on shares of Northrop Grumman from $587.00 to $591.00 and gave the stock a “buy” rating in a research report on Monday, February 10th. Barclays dropped their price target on shares of 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. Susquehanna decreased 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, Truist Financial initiated coverage on shares of Northrop Grumman in a report on Tuesday, January 14th. They issued a “buy” rating and a $544.00 price objective on the stock. Nine equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $544.56.

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.