FourThought Financial Partners LLC Has $10.68 Million Holdings in Northrop Grumman Co. (NYSE:NOC)

FourThought Financial Partners LLC raised its stake in Northrop Grumman Co. (NYSE:NOC) by 21.4% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 22,749 shares of the aerospace company’s stock after purchasing an additional 4,017 shares during the period. Northrop Grumman makes up approximately 1.1% of FourThought Financial Partners LLC’s holdings, making the stock its 24th biggest position. FourThought Financial Partners LLC’s holdings in Northrop Grumman were worth $10,676,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the stock. RPg Family Wealth Advisory LLC bought a new position in shares of Northrop Grumman during the 3rd quarter worth about $31,000. FSA Wealth Management LLC bought a new position in shares of Northrop Grumman during the 3rd quarter worth about $36,000. Albion Financial Group UT bought a new position in shares of Northrop Grumman during the 4th quarter worth about $33,000. Catalyst Capital Advisors LLC bought a new position in shares of Northrop Grumman during the 3rd quarter worth about $40,000. Finally, Modus Advisors LLC bought a new position in shares of Northrop Grumman during the 4th quarter worth about $38,000. 83.40% of the stock is owned by institutional investors.

Northrop Grumman Stock Up 0.5 %

Shares of NYSE:NOC opened at $449.98 on Tuesday. The company has a 50 day moving average of $470.38 and a 200-day moving average of $497.29. Northrop Grumman Co. has a one year low of $418.60 and a one year high of $555.57. The stock has a market cap of $65.14 billion, a price-to-earnings ratio of 15.88, a P/E/G ratio of 3.73 and a beta of 0.35. The company has a debt-to-equity ratio of 0.96, a current ratio of 1.01 and a quick ratio of 0.91.

Northrop Grumman (NYSE:NOC) last released its quarterly earnings data on Thursday, January 30th. The aerospace company reported $6.39 earnings per share 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, sell-side analysts forecast that Northrop Grumman Co. will post 28.05 earnings per share for the current year.

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

Northrop Grumman Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 19th. Shareholders of record on Monday, March 3rd will be paid a $2.06 dividend. This represents a $8.24 dividend on an annualized basis and a yield of 1.83%. The ex-dividend date of this dividend is Monday, March 3rd. Northrop Grumman’s payout ratio is currently 29.08%.

Insider Buying and Selling at Northrop Grumman

In other Northrop Grumman news, VP Benjamin R. Davies sold 192 shares of Northrop Grumman stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $429.08, for a total value of $82,383.36. Following the transaction, the vice president now owns 709 shares of the company’s stock, valued at approximately $304,217.72. The trade was a 21.31 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Over the last quarter, insiders have sold 291 shares of company stock valued at $129,184. 0.22% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

NOC has been the subject of a number of recent analyst reports. Susquehanna dropped their target price on shares of Northrop Grumman from $625.00 to $557.00 and set a “positive” rating for the company in a research report on Wednesday, January 8th. Barclays dropped their target price on shares of Northrop Grumman from $550.00 to $500.00 and set an “equal weight” rating for the company in a research report on Monday, January 6th. Truist Financial initiated coverage on shares of Northrop Grumman in a research report on Tuesday, January 14th. They set a “buy” rating and a $544.00 target price for the company. Wolfe Research upgraded shares of Northrop Grumman from an “underperform” rating to a “peer perform” rating in a research report on Monday, February 3rd. Finally, StockNews.com cut shares of Northrop Grumman from a “strong-buy” rating to a “buy” rating in a research report on Monday, February 3rd. Nine analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average 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.