Northrop Grumman Co. (NYSE:NOC) Shares Bought by Tudor Financial Inc.

Tudor Financial Inc. grew its holdings in Northrop Grumman Co. (NYSE:NOC) by 1.2% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,165 shares of the aerospace company’s stock after buying an additional 25 shares during the quarter. Tudor Financial Inc.’s holdings in Northrop Grumman were worth $1,016,000 at the end of the most recent quarter.

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

Wall Street Analyst Weigh In

NOC has been the subject of a number of analyst reports. Wells Fargo & Company raised Northrop Grumman from an “equal weight” rating to an “overweight” rating and set a $595.00 price target for the company in a report on Wednesday, January 8th. Susquehanna lowered their target price on Northrop Grumman from $625.00 to $557.00 and set a “positive” rating on the stock in a research report on Wednesday, January 8th. StockNews.com upgraded Northrop Grumman from a “buy” rating to a “strong-buy” rating in a research report on Sunday. UBS Group increased their price target on Northrop Grumman from $614.00 to $643.00 and gave the company a “buy” rating in a research note on Friday, October 25th. Finally, Truist Financial assumed coverage on Northrop Grumman in a research note on Tuesday, January 14th. They set a “buy” rating and a $544.00 price objective for the company. Nine analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $550.94.

Insider Activity

In other 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 transaction of $616,067.08. Following the completion of the transaction, the vice president now directly owns 537 shares of the company’s stock, valued at $286,183.41. This represents a 68.28 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders sold 1,255 shares of company stock worth $663,859 over the last three months. 0.22% of the stock is currently owned by insiders.

Northrop Grumman Stock Performance

Shares of NYSE:NOC opened at $482.49 on Tuesday. 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 market cap of $70.30 billion, a PE ratio of 29.89, a PEG ratio of 0.91 and a beta of 0.35. The company’s 50 day moving average price is $480.55 and its two-hundred day moving average price is $494.51. Northrop Grumman Co. has a 12-month low of $418.60 and a 12-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 for the quarter, beating analysts’ consensus estimates of $6.07 by $0.93. The firm had revenue of $10 billion for the quarter, compared to analyst estimates of $10.18 billion. Northrop Grumman had a net margin of 5.79% and a return on equity of 26.57%. The company’s quarterly revenue was up 2.3% on a year-over-year basis. During the same quarter last year, the business posted $6.18 earnings per share. Equities research analysts predict that Northrop Grumman Co. will post 25.95 earnings per share for the current year.

Northrop Grumman Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, December 18th. Shareholders of record on Monday, December 2nd were issued a $2.06 dividend. This represents a $8.24 dividend on an annualized basis and a yield of 1.71%. The ex-dividend date of this dividend was Monday, December 2nd. Northrop Grumman’s payout ratio is 51.05%.

Northrop Grumman declared that its Board of Directors has approved a share buyback program 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 programs are often a sign that the company’s board of directors believes its shares are undervalued.

Northrop Grumman Company 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.