Northrop Grumman Co. (NYSE:NOC) Shares Bought by Sigma Planning Corp

Sigma Planning Corp raised its stake in Northrop Grumman Co. (NYSE:NOC) by 0.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 5,893 shares of the aerospace company’s stock after acquiring an additional 29 shares during the quarter. Sigma Planning Corp’s holdings in Northrop Grumman were worth $2,765,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. RPg Family Wealth Advisory LLC acquired a new stake in Northrop Grumman during the third quarter worth about $31,000. Albion Financial Group UT acquired a new stake in Northrop Grumman during the fourth quarter worth about $33,000. FSA Wealth Management LLC acquired a new stake in Northrop Grumman during the third quarter worth about $36,000. Modus Advisors LLC acquired a new stake in Northrop Grumman during the fourth quarter worth about $38,000. Finally, Catalyst Capital Advisors LLC acquired a new stake in Northrop Grumman during the third quarter worth about $40,000. 83.40% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on NOC shares. Wells Fargo & Company dropped their price target on Northrop Grumman from $595.00 to $574.00 and set an “overweight” rating for the company in a research note on Friday, January 31st. Barclays dropped their price target on Northrop Grumman from $550.00 to $500.00 and set an “equal weight” rating for the company in a research note on Monday, January 6th. UBS Group lowered their target price on Northrop Grumman from $579.00 to $558.00 and set a “buy” rating for the company in a research note on Friday, January 31st. StockNews.com lowered Northrop Grumman from a “strong-buy” rating to a “buy” rating in a research note on Monday, February 3rd. Finally, Truist Financial initiated coverage on Northrop Grumman in a research note on Tuesday, January 14th. They issued a “buy” rating and a $544.00 target price for the company. Nine equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, Northrop Grumman currently has an average rating of “Moderate Buy” and a consensus target price of $544.56.

Northrop Grumman Trading Up 2.4 %

Shares of NYSE NOC opened at $448.59 on Friday. The company has a market cap of $64.94 billion, a price-to-earnings ratio of 15.83, a price-to-earnings-growth ratio of 3.73 and a beta of 0.35. Northrop Grumman Co. has a 12-month low of $418.60 and a 12-month high of $555.57. The company has a current ratio of 1.01, a quick ratio of 0.91 and a debt-to-equity ratio of 0.96. The stock’s 50 day simple moving average is $471.03 and its 200 day simple moving average is $497.52.

Northrop Grumman (NYSE:NOC) last announced 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 return on equity of 26.24% and a net margin of 10.17%. Equities research analysts expect that Northrop Grumman Co. will post 28.05 EPS for the current year.

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

Northrop Grumman Dividend Announcement

The firm 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 $2.06 dividend. This represents a $8.24 annualized dividend and a yield of 1.84%. The ex-dividend date is Monday, March 3rd. Northrop Grumman’s dividend payout ratio is currently 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.