Congress Asset Management Co. Has $352,000 Stock Position in Northrop Grumman Co. (NYSE:NOC)

Congress Asset Management Co. boosted its holdings in shares of Northrop Grumman Co. (NYSE:NOC) by 26.3% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 750 shares of the aerospace company’s stock after acquiring an additional 156 shares during the quarter. Congress Asset Management Co.’s holdings in Northrop Grumman were worth $352,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Stratos Wealth Advisors LLC boosted its holdings in Northrop Grumman by 1.9% in the third quarter. Stratos Wealth Advisors LLC now owns 1,161 shares of the aerospace company’s stock worth $614,000 after purchasing an additional 22 shares in the last quarter. Cyndeo Wealth Partners LLC boosted its stake in shares of Northrop Grumman by 10.5% during the 3rd quarter. Cyndeo Wealth Partners LLC now owns 928 shares of the aerospace company’s stock worth $490,000 after acquiring an additional 88 shares in the last quarter. Whittier Trust Co. increased its holdings in shares of Northrop Grumman by 1.0% during the 3rd quarter. Whittier Trust Co. now owns 7,471 shares of the aerospace company’s stock valued at $3,945,000 after acquiring an additional 77 shares during the last quarter. Whittier Trust Co. of Nevada Inc. raised its stake in shares of Northrop Grumman by 3.3% in the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 2,550 shares of the aerospace company’s stock valued at $1,347,000 after acquiring an additional 82 shares in the last quarter. Finally, Foundations Investment Advisors LLC lifted its holdings in Northrop Grumman by 1.4% in the 3rd quarter. Foundations Investment Advisors LLC now owns 1,478 shares of the aerospace company’s stock worth $780,000 after purchasing an additional 20 shares during the last quarter. 83.40% of the stock is currently owned by institutional investors and hedge funds.

Northrop Grumman Trading Up 0.5 %

Shares of NOC stock opened at $441.00 on Wednesday. The firm has a fifty day moving average of $474.14 and a 200-day moving average of $499.00. The stock has a market cap of $63.84 billion, a price-to-earnings ratio of 15.56, a P/E/G ratio of 3.00 and a beta of 0.35. Northrop Grumman Co. has a 52-week low of $418.60 and a 52-week 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.

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

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

Northrop Grumman Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, March 19th. Investors of record on Monday, March 3rd will be given a dividend of $2.06 per share. This represents a $8.24 annualized dividend and a dividend yield of 1.87%. Northrop Grumman’s dividend payout ratio (DPR) is presently 29.08%.

Wall Street Analyst Weigh In

Several equities analysts have commented on NOC shares. Truist Financial started coverage on Northrop Grumman in a report on Tuesday, January 14th. They set a “buy” rating and a $544.00 price target on the stock. Susquehanna dropped their target price 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. StockNews.com cut shares of Northrop Grumman from a “strong-buy” rating to a “buy” rating in a report on Monday, February 3rd. UBS Group dropped their price objective on Northrop Grumman from $579.00 to $558.00 and set a “buy” rating on the stock in a research note on Friday, January 31st. Finally, Royal Bank of Canada increased their target price on Northrop Grumman from $500.00 to $540.00 and gave the company a “sector perform” rating in a research note on Friday, October 25th. Nine equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target 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.