Segment Wealth Management LLC Has $307,000 Stock Position in Northrop Grumman Co. (NYSE:NOC)

Segment Wealth Management LLC cut its holdings in Northrop Grumman Co. (NYSE:NOC) by 18.6% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 655 shares of the aerospace company’s stock after selling 150 shares during the quarter. Segment Wealth Management LLC’s holdings in Northrop Grumman were worth $307,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of NOC. RPg Family Wealth Advisory LLC acquired a new stake in Northrop Grumman in the third quarter worth $31,000. FSA Wealth Management LLC acquired a new stake in shares of Northrop Grumman in the 3rd quarter valued at about $36,000. Catalyst Capital Advisors LLC bought a new stake in Northrop Grumman in the 3rd quarter valued at about $40,000. Modus Advisors LLC acquired a new position in Northrop Grumman during the 4th quarter worth approximately $38,000. Finally, True Wealth Design LLC acquired a new stake in Northrop Grumman in the third quarter valued at approximately $53,000. 83.40% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Northrop Grumman

In other Northrop Grumman news, VP Benjamin R. Davies sold 1,156 shares of the stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $532.93, for a total value of $616,067.08. Following the sale, the vice president now directly owns 537 shares in the company, valued at $286,183.41. This represents a 68.28 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders sold 1,255 shares of company stock valued at $663,859 in the last quarter. 0.22% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on NOC shares. JPMorgan Chase & Co. increased their target price on Northrop Grumman from $500.00 to $560.00 and gave the stock a “neutral” rating in a report on Monday, October 14th. UBS Group boosted their target price on shares of Northrop Grumman from $614.00 to $643.00 and gave the stock a “buy” rating in a research report on Friday, October 25th. Truist Financial began coverage on shares of Northrop Grumman in a research report on Tuesday, January 14th. They issued a “buy” rating and a $544.00 price target on the stock. Wells Fargo & Company raised Northrop Grumman from an “equal weight” rating to an “overweight” rating and set a $595.00 price objective for the company in a report on Wednesday, January 8th. Finally, Citigroup upgraded Northrop Grumman from a “neutral” rating to a “buy” rating and set a $587.00 target price on the stock in a report on Tuesday. Eight analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $550.94.

Northrop Grumman Price Performance

NOC opened at $504.16 on Wednesday. The company has a market capitalization of $73.46 billion, a price-to-earnings ratio of 31.24, a PEG ratio of 0.91 and a beta of 0.35. The company has a quick ratio of 0.97, a current ratio of 1.09 and a debt-to-equity ratio of 1.00. The firm has a 50-day moving average price of $479.52 and a 200-day moving average price of $494.82. Northrop Grumman Co. has a twelve month low of $418.60 and a twelve month high of $555.57.

Northrop Grumman (NYSE:NOC) last issued its earnings results on Thursday, October 24th. The aerospace company reported $7.00 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $6.07 by $0.93. Northrop Grumman had a net margin of 5.79% and a return on equity of 26.57%. The business had revenue of $10 billion for the quarter, compared to analysts’ expectations of $10.18 billion. During the same quarter in the previous year, the firm posted $6.18 EPS. The business’s revenue for the quarter was up 2.3% compared to the same quarter last year. Equities analysts expect that Northrop Grumman Co. will post 25.95 EPS for the current year.

Northrop Grumman declared that its Board of Directors has approved a stock buyback program on Wednesday, December 11th that allows the company to buyback $3.00 billion in shares. This buyback authorization allows the aerospace company to reacquire up to 4.3% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s management believes its shares are undervalued.

Northrop Grumman Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, December 18th. Shareholders of record on Monday, December 2nd were paid a $2.06 dividend. The ex-dividend date of this dividend was Monday, December 2nd. This represents a $8.24 annualized dividend and a yield of 1.63%. Northrop Grumman’s dividend payout ratio is currently 51.05%.

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.