Graypoint LLC Grows Position in Northrop Grumman Co. (NYSE:NOC)

Graypoint LLC boosted its stake in shares of Northrop Grumman Co. (NYSE:NOC) by 5.6% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,043 shares of the aerospace company’s stock after purchasing an additional 108 shares during the period. Graypoint LLC’s holdings in Northrop Grumman were worth $959,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of NOC. Two Sigma Advisers LP lifted its position in Northrop Grumman by 102.6% during the third quarter. Two Sigma Advisers LP now owns 735,600 shares of the aerospace company’s stock valued at $388,448,000 after purchasing an additional 372,500 shares in the last quarter. Marshall Wace LLP purchased a new position in Northrop Grumman during the second quarter valued at $74,206,000. Canada Pension Plan Investment Board lifted its position in Northrop Grumman by 113.6% during the second quarter. Canada Pension Plan Investment Board now owns 296,844 shares of the aerospace company’s stock valued at $129,409,000 after purchasing an additional 157,854 shares in the last quarter. Legal & General Group Plc lifted its position in Northrop Grumman by 16.0% during the second quarter. Legal & General Group Plc now owns 1,087,913 shares of the aerospace company’s stock valued at $474,276,000 after purchasing an additional 150,367 shares in the last quarter. Finally, Franklin Resources Inc. lifted its position in Northrop Grumman by 6.2% during the third quarter. Franklin Resources Inc. now owns 2,426,270 shares of the aerospace company’s stock valued at $1,315,729,000 after purchasing an additional 141,816 shares in the last quarter. 83.40% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Northrop Grumman

In other Northrop Grumman news, VP Benjamin R. Davies sold 1,156 shares of the business’s stock in a transaction that occurred on Monday, November 11th. The stock was 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 owns 537 shares in the company, valued at $286,183.41. The trade was a 68.28 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders sold 1,255 shares of company stock worth $663,859 over the last 90 days. Company insiders own 0.22% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the company. StockNews.com downgraded Northrop Grumman from a “strong-buy” rating to a “buy” rating in a research report on Saturday. Susquehanna lowered their price objective on Northrop Grumman from $625.00 to $557.00 and set a “positive” rating on the stock in a research report on Wednesday. Royal Bank of Canada boosted their price objective on Northrop Grumman from $500.00 to $540.00 and gave the company a “sector perform” rating in a research report on Friday, October 25th. UBS Group boosted their price objective on Northrop Grumman from $614.00 to $643.00 and gave the company a “buy” rating in a research report on Friday, October 25th. Finally, JPMorgan Chase & Co. boosted their price objective on Northrop Grumman from $500.00 to $560.00 and gave the company a “neutral” rating in a research report on Monday, October 14th. Nine equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $551.40.

Northrop Grumman Trading Down 0.8 %

Shares of NYSE NOC opened at $458.37 on Friday. The business’s 50 day moving average is $484.74 and its two-hundred day moving average is $492.20. The company has a debt-to-equity ratio of 1.00, a current ratio of 1.09 and a quick ratio of 0.97. Northrop Grumman Co. has a 1-year low of $418.60 and a 1-year high of $555.57. The stock has a market capitalization of $66.78 billion, a P/E ratio of 28.40, a PEG ratio of 0.97 and a beta of 0.35.

Northrop Grumman (NYSE:NOC) last issued its quarterly earnings data 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 company had revenue of $10 billion for the quarter, compared to analysts’ expectations of $10.18 billion. During the same period in the previous year, the firm posted $6.18 earnings per share. The firm’s revenue for the quarter was up 2.3% on a year-over-year basis. As a group, research analysts expect that Northrop Grumman Co. will post 25.93 EPS for the current year.

Northrop Grumman declared that its Board of Directors has initiated a stock buyback plan 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 stock through open market purchases. Stock buyback plans are usually a sign that the company’s board of directors believes its shares are undervalued.

Northrop Grumman Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, December 18th. Shareholders of record on Monday, December 2nd were given a dividend of $2.06 per share. The ex-dividend date was Monday, December 2nd. This represents a $8.24 annualized dividend and a dividend yield of 1.80%. Northrop Grumman’s dividend payout ratio (DPR) is presently 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.