Hennion & Walsh Asset Management Inc. Has $2.59 Million Holdings in Northrop Grumman Co. (NYSE:NOC)

Hennion & Walsh Asset Management Inc. boosted its position in shares of Northrop Grumman Co. (NYSE:NOC) by 17.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,522 shares of the aerospace company’s stock after purchasing an additional 813 shares during the period. Hennion & Walsh Asset Management Inc.’s holdings in Northrop Grumman were worth $2,591,000 at the end of the most recent reporting period.

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

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on NOC shares. TD Cowen upgraded shares of Northrop Grumman to a “hold” rating in a research note on Tuesday, October 8th. Wells Fargo & Company raised Northrop Grumman from an “equal weight” rating to an “overweight” rating and set a $595.00 target price on the stock in a research report on Wednesday, January 8th. Barclays reduced their price target on 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. JPMorgan Chase & Co. boosted their price target on Northrop Grumman from $500.00 to $560.00 and gave the stock a “neutral” rating in a research report on Monday, October 14th. Finally, Royal Bank of Canada increased their price objective on Northrop Grumman from $500.00 to $540.00 and gave the company a “sector perform” rating in a report on Friday, October 25th. Nine research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $550.94.

Northrop Grumman Trading Up 1.7 %

Shares of NOC stock opened at $480.29 on Friday. Northrop Grumman Co. has a 12-month low of $418.60 and a 12-month high of $555.57. The company has a market capitalization of $69.98 billion, a PE ratio of 29.76, a price-to-earnings-growth ratio of 0.87 and a beta of 0.35. The firm has a 50 day moving average price of $482.29 and a two-hundred day moving average price of $493.47. The company has a quick ratio of 0.97, a current ratio of 1.09 and a debt-to-equity ratio of 1.00.

Northrop Grumman (NYSE:NOC) last released its quarterly earnings results on Thursday, October 24th. The aerospace company reported $7.00 earnings per share for the quarter, topping the consensus estimate of $6.07 by $0.93. Northrop Grumman had a return on equity of 26.57% and a net margin of 5.79%. The business had revenue of $10 billion during the quarter, compared to analysts’ expectations of $10.18 billion. During the same period last year, the firm posted $6.18 EPS. The firm’s revenue for the quarter was up 2.3% compared to the same quarter last year. As a group, analysts predict that Northrop Grumman Co. will post 25.93 earnings per share for the current year.

Northrop Grumman Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, December 18th. Investors of record on Monday, December 2nd were given a dividend of $2.06 per share. This represents a $8.24 dividend on an annualized basis and a yield of 1.72%. The ex-dividend date was Monday, December 2nd. Northrop Grumman’s dividend payout ratio is 51.05%.

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

Insiders Place Their Bets

In other news, VP Benjamin R. Davies sold 1,156 shares of the firm’s 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 transaction, the vice president now directly owns 537 shares of the company’s stock, valued at approximately $286,183.41. This trade represents a 68.28 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders sold 1,255 shares of company stock worth $663,859 in the last quarter. 0.22% of the stock is currently owned by corporate insiders.

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.