Eclectic Associates Inc. ADV Buys Shares of 3,172 Northrop Grumman Co. (NYSE:NOC)

Eclectic Associates Inc. ADV purchased a new position in shares of Northrop Grumman Co. (NYSE:NOC) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 3,172 shares of the aerospace company’s stock, valued at approximately $1,489,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. RPg Family Wealth Advisory LLC acquired a new stake in Northrop Grumman in the 3rd quarter valued at about $31,000. Albion Financial Group UT purchased a new stake in shares of Northrop Grumman during the fourth quarter worth approximately $33,000. FSA Wealth Management LLC acquired a new stake in Northrop Grumman in the third quarter valued at approximately $36,000. Modus Advisors LLC purchased a new position in Northrop Grumman in the fourth quarter worth approximately $38,000. Finally, Catalyst Capital Advisors LLC acquired a new position in Northrop Grumman during the 3rd quarter worth approximately $40,000. Hedge funds and other institutional investors own 83.40% of the company’s stock.

Northrop Grumman Price Performance

Shares of NYSE:NOC opened at $497.13 on Friday. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.97 and a current ratio of 1.09. Northrop Grumman Co. has a one year low of $418.60 and a one year high of $555.57. The company has a 50-day simple moving average of $478.60 and a 200-day simple moving average of $495.39. The stock has a market capitalization of $72.43 billion, a price-to-earnings ratio of 30.80, a PEG ratio of 0.95 and a beta of 0.35.

Northrop Grumman (NYSE:NOC) last posted its quarterly earnings data on Thursday, October 24th. The aerospace company reported $7.00 EPS for the quarter, beating 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 firm had revenue of $10 billion during the quarter, compared to the consensus estimate of $10.18 billion. During the same period in the prior year, the business earned $6.18 EPS. The firm’s revenue was up 2.3% compared to the same quarter last year. On average, analysts predict that Northrop Grumman Co. will post 25.96 EPS for the current year.

Northrop Grumman announced that its board has approved a stock repurchase plan on Wednesday, December 11th that allows the company to repurchase $3.00 billion in shares. This repurchase authorization allows 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.

Northrop Grumman Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, December 18th. Investors 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 1.66%. The ex-dividend date of this dividend was Monday, December 2nd. Northrop Grumman’s dividend payout ratio is presently 51.05%.

Insider Activity at Northrop Grumman

In related news, VP Benjamin R. Davies sold 1,156 shares of the stock in a transaction dated Monday, November 11th. The shares were 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 directly owns 537 shares of the company’s stock, valued at $286,183.41. This represents a 68.28 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Insiders have sold a total of 1,255 shares of company stock worth $663,859 in the last three months. Insiders own 0.22% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently weighed in on NOC. JPMorgan Chase & Co. raised their price objective on shares of Northrop Grumman from $500.00 to $560.00 and gave the company a “neutral” rating in a report on Monday, October 14th. UBS Group raised their price target on Northrop Grumman from $614.00 to $643.00 and gave the company a “buy” rating in a research note on Friday, October 25th. Wells Fargo & Company raised Northrop Grumman from an “equal weight” rating to an “overweight” rating and set a $595.00 price objective for the company in a research report on Wednesday, January 8th. Susquehanna cut their target price on Northrop Grumman from $625.00 to $557.00 and set a “positive” rating on the stock in a research report on Wednesday, January 8th. Finally, Citigroup upgraded Northrop Grumman from a “neutral” rating to a “buy” rating and set a $587.00 target price for the company in a research note on Tuesday. Eight analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Northrop Grumman presently has a consensus rating of “Moderate Buy” and a consensus price target of $550.94.

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.