Concord Wealth Partners Takes $32,000 Position in Northrop Grumman Co. (NYSE:NOC)

Posted by Defense World Staff on Apr 15th, 2023

Concord Wealth Partners purchased a new position in Northrop Grumman Co. (NYSE:NOC – Get Rating) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 58 shares of the aerospace company’s stock, valued at approximately $32,000.

Several other large investors also recently added to or reduced their stakes in the stock. EWG Elevate Inc. bought a new stake in shares of Northrop Grumman during the fourth quarter valued at approximately $25,000. MADDEN SECURITIES Corp purchased a new position in Northrop Grumman during the 4th quarter worth $36,000. EdgeRock Capital LLC bought a new stake in Northrop Grumman during the 3rd quarter valued at $38,000. Baldwin Brothers LLC MA purchased a new stake in shares of Northrop Grumman in the 4th quarter worth $38,000. Finally, TD Capital Management LLC bought a new position in shares of Northrop Grumman during the 3rd quarter worth $39,000. 84.32% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, VP David T. Perry sold 3,999 shares of the stock in a transaction that occurred on Monday, March 6th. The shares were sold at an average price of $469.65, for a total value of $1,878,130.35. Following the transaction, the vice president now owns 8,717 shares in the company, valued at approximately $4,093,939.05. The sale was disclosed in a filing with the SEC, which is available through this link. In other Northrop Grumman news, VP Mark A. Caylor sold 2,810 shares of the company’s stock in a transaction on Friday, March 3rd. The shares were sold at an average price of $467.58, for a total value of $1,313,899.80. Following the sale, the vice president now directly owns 16,240 shares of the company’s stock, valued at $7,593,499.20. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP David T. Perry sold 3,999 shares of the business’s stock in a transaction dated Monday, March 6th. The shares were sold at an average price of $469.65, for a total value of $1,878,130.35. Following the completion of the transaction, the vice president now directly owns 8,717 shares of the company’s stock, valued at approximately $4,093,939.05. The disclosure for this sale can be found here. Insiders sold 10,534 shares of company stock valued at $4,934,622 over the last quarter. 0.26% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on NOC. The Goldman Sachs Group lowered shares of Northrop Grumman from a “neutral” rating to a “sell” rating and lowered their price objective for the stock from $440.00 to $375.00 in a research note on Friday, January 13th. Credit Suisse Group dropped their price objective on shares of Northrop Grumman from $500.00 to $490.00 and set an “outperform” rating on the stock in a research note on Monday, February 6th. Wells Fargo & Company boosted their price objective on shares of Northrop Grumman from $460.00 to $470.00 and gave the stock an “equal weight” rating in a research note on Tuesday, January 31st. Morgan Stanley dropped their target price on Northrop Grumman from $626.00 to $601.00 and set an “overweight” rating on the stock in a research report on Friday, January 27th. Finally, Bank of America reduced their price target on Northrop Grumman from $700.00 to $655.00 in a research report on Sunday, January 29th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, Northrop Grumman presently has a consensus rating of “Hold” and an average target price of $508.13.

Northrop Grumman Stock Down 0.3 %

NOC stock opened at $472.57 on Friday. The company has a quick ratio of 0.99, a current ratio of 1.08 and a debt-to-equity ratio of 0.77. Northrop Grumman Co. has a 52 week low of $430.93 and a 52 week high of $556.27. The stock has a market capitalization of $71.85 billion, a PE ratio of 15.00, a price-to-earnings-growth ratio of 6.22 and a beta of 0.51. The firm has a 50 day moving average of $462.89 and a 200 day moving average of $491.55.

Northrop Grumman (NYSE:NOC – Get Rating) last announced its quarterly earnings data on Thursday, January 26th. The aerospace company reported $7.50 earnings per share for the quarter, beating analysts’ consensus estimates of $6.57 by $0.93. The firm had revenue of $10 billion for the quarter, compared to analyst estimates of $9.64 billion. Northrop Grumman had a net margin of 13.38% and a return on equity of 28.29%. The business’s quarterly revenue was up 16.3% compared to the same quarter last year. During the same period in the previous year, the company earned $6.00 earnings per share. Sell-side analysts forecast that Northrop Grumman Co. will post 22.04 earnings per share for the current year.

Northrop Grumman Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 15th. Stockholders of record on Monday, February 27th were paid a $1.73 dividend. This represents a $6.92 annualized dividend and a dividend yield of 1.46%. The ex-dividend date of this dividend was Friday, February 24th. Northrop Grumman’s payout ratio is 21.96%.

About Northrop Grumman

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Northrop Grumman Corp. engages in the provision of advanced aircraft systems. It operates through the following segments: Aeronautics Systems, Defense Systems, Mission Systems, and Space Systems. The Aeronautics Systems segment is involved in the design, development, production, integration, sustainment, and modernization of advanced aircraft systems for the U.S.