Empowered Funds LLC Has $5.72 Million Stock Holdings in Northrop Grumman Co. (NYSE:NOC)

Empowered Funds LLC increased its position in shares of Northrop Grumman Co. (NYSE:NOC) by 21.9% in the fourth quarter, HoldingsChannel reports. The firm owned 12,196 shares of the aerospace company’s stock after purchasing an additional 2,193 shares during the period. Empowered Funds LLC’s holdings in Northrop Grumman were worth $5,723,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the company. RPg Family Wealth Advisory LLC bought a new position in shares of Northrop Grumman in the third quarter valued at approximately $31,000. Albion Financial Group UT bought a new position in Northrop Grumman in the 4th quarter valued at $33,000. FSA Wealth Management LLC bought a new stake in shares of Northrop Grumman during the third quarter worth $36,000. Modus Advisors LLC bought a new stake in shares of Northrop Grumman during the fourth quarter worth $38,000. Finally, Catalyst Capital Advisors LLC acquired a new stake in shares of Northrop Grumman in the third quarter valued at $40,000. 83.40% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on NOC. Citigroup increased their price objective on shares of Northrop Grumman from $587.00 to $591.00 and gave the stock a “buy” rating in a report on Monday. Royal Bank of Canada increased their price target on shares of Northrop Grumman from $500.00 to $540.00 and gave the company a “sector perform” rating in a research note on Friday, October 25th. Wells Fargo & Company reduced their price objective on Northrop Grumman from $595.00 to $574.00 and set an “overweight” rating on the stock in a report on Friday, January 31st. Barclays lowered their target price 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. Finally, UBS Group cut their price target 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. Nine research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $544.56.

Northrop Grumman Stock Down 0.2 %

Shares of NYSE NOC opened at $473.58 on Wednesday. The firm has a 50 day moving average price of $476.69 and a 200 day moving average price of $500.03. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.91 and a current ratio of 1.01. The stock has a market cap of $68.55 billion, a P/E ratio of 16.71, 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.

Northrop Grumman (NYSE:NOC) last released its quarterly earnings data on Thursday, January 30th. The aerospace company reported $6.39 EPS for the quarter, beating analysts’ consensus estimates of $6.27 by $0.12. Northrop Grumman had a net margin of 10.17% and a return on equity of 26.24%. Analysts expect that Northrop Grumman Co. will post 27.94 EPS for the current year.

Northrop Grumman Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, December 18th. Investors of record on Monday, December 2nd were given a $2.06 dividend. The ex-dividend date was Monday, December 2nd. This represents a $8.24 annualized dividend and a dividend yield of 1.74%. Northrop Grumman’s dividend payout ratio is presently 29.08%.

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.

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.