Fifth Third Wealth Advisors LLC Cuts Stock Holdings in Northrop Grumman Co. (NYSE:NOC)

Fifth Third Wealth Advisors LLC lessened its holdings in Northrop Grumman Co. (NYSE:NOC) by 38.5% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 1,324 shares of the aerospace company’s stock after selling 828 shares during the period. Fifth Third Wealth Advisors LLC’s holdings in Northrop Grumman were worth $621,000 at the end of the most recent quarter.

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

Northrop Grumman Trading Up 1.7 %

NYSE NOC opened at $480.29 on Friday. Northrop Grumman Co. has a 1 year low of $418.60 and a 1 year high of $555.57. The company has a debt-to-equity ratio of 1.00, a current ratio of 1.09 and a quick ratio of 0.97. The company has a market capitalization of $69.98 billion, a PE ratio of 29.76, a P/E/G ratio of 0.87 and a beta of 0.35. The company has a fifty day moving average of $482.29 and a 200 day moving average of $493.47.

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

Northrop Grumman announced that its board has approved a share buyback plan on Wednesday, December 11th that allows the company to buyback $3.00 billion in outstanding shares. This buyback authorization allows the aerospace company to purchase up to 4.3% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s leadership believes its shares are undervalued.

Northrop Grumman Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, December 18th. Stockholders of record on Monday, December 2nd were issued a dividend of $2.06 per share. This represents a $8.24 annualized dividend and a dividend yield of 1.72%. The ex-dividend date was Monday, December 2nd. Northrop Grumman’s dividend payout ratio (DPR) is 51.05%.

Insider Activity at Northrop Grumman

In other Northrop Grumman news, VP Benjamin R. Davies sold 1,156 shares of Northrop Grumman stock in a transaction on Monday, November 11th. The shares were sold at an average price of $532.93, for a total value of $616,067.08. Following the completion of the transaction, the vice president now owns 537 shares of the company’s stock, valued at approximately $286,183.41. The trade was a 68.28 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders sold a total of 1,255 shares of company stock worth $663,859 in the last three months. Company insiders own 0.22% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the stock. Wells Fargo & Company raised shares of Northrop Grumman from an “equal weight” rating to an “overweight” rating and set a $595.00 price target on the stock in a report on Wednesday, January 8th. JPMorgan Chase & Co. boosted their target price on Northrop Grumman from $500.00 to $560.00 and gave the stock a “neutral” rating in a research note on Monday, October 14th. Barclays decreased their price target 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. Royal Bank of Canada boosted their price target on Northrop Grumman from $500.00 to $540.00 and gave the stock a “sector perform” rating in a research note on Friday, October 25th. Finally, Citigroup increased their price objective on shares of Northrop Grumman from $521.00 to $587.00 and gave the company a “neutral” rating in a research report on Thursday, October 10th. Nine analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, Northrop Grumman has a consensus rating of “Hold” and an average price target of $550.94.

Northrop Grumman 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.