Phraction Management LLC Reduces Stake in Northrop Grumman Co. (NYSE:NOC)

Phraction Management LLC reduced its position in Northrop Grumman Co. (NYSE:NOC) by 3.1% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,668 shares of the aerospace company’s stock after selling 85 shares during the period. Phraction Management LLC’s holdings in Northrop Grumman were worth $1,252,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of NOC. RPg Family Wealth Advisory LLC purchased a new position in Northrop Grumman in the 3rd quarter valued at approximately $31,000. Albion Financial Group UT purchased a new position in Northrop Grumman during the fourth quarter worth $33,000. FSA Wealth Management LLC purchased a new position in Northrop Grumman during the third quarter worth $36,000. Modus Advisors LLC purchased a new position in Northrop Grumman during the fourth quarter worth $38,000. Finally, Catalyst Capital Advisors LLC purchased a new position in Northrop Grumman during the third quarter worth $40,000. 83.40% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on NOC shares. UBS Group decreased their price objective on Northrop Grumman from $579.00 to $558.00 and set a “buy” rating on the stock in a report on Friday, January 31st. Wolfe Research upgraded Northrop Grumman from an “underperform” rating to a “peer perform” rating in a report on Monday, February 3rd. Barclays decreased their price objective on Northrop Grumman from $550.00 to $500.00 and set an “equal weight” rating on the stock in a report on Monday, January 6th. Wells Fargo & Company decreased their price objective on Northrop Grumman from $595.00 to $574.00 and set an “overweight” rating on the stock in a report on Friday, January 31st. Finally, Citigroup raised their price objective on Northrop Grumman from $587.00 to $591.00 and gave the stock a “buy” rating in a report on Monday. Nine analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, Northrop Grumman has a consensus rating of “Moderate Buy” and a consensus target price of $544.56.

Northrop Grumman Trading Down 0.5 %

Shares of NOC opened at $471.25 on Thursday. The stock’s 50-day moving average is $476.46 and its two-hundred day moving average is $499.98. The stock has a market cap of $68.22 billion, a PE ratio of 16.63, a P/E/G ratio of 3.00 and a beta of 0.35. Northrop Grumman Co. has a 12 month low of $418.60 and a 12 month high of $555.57. The company has a debt-to-equity ratio of 0.96, a current ratio of 1.01 and a quick ratio of 0.91.

Northrop Grumman (NYSE:NOC) last issued its quarterly earnings data on Thursday, January 30th. The aerospace company reported $6.39 EPS for the quarter, topping analysts’ consensus estimates of $6.27 by $0.12. Northrop Grumman had a return on equity of 26.24% and a net margin of 10.17%. Equities analysts forecast that Northrop Grumman Co. will post 27.94 earnings per share for the current fiscal year.

Northrop Grumman announced that its Board of Directors has initiated a share buyback program 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 shares through open market purchases. Shares buyback programs are usually an indication that the company’s board believes its shares are undervalued.

Northrop Grumman Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, December 18th. Shareholders of record on Monday, December 2nd were paid a dividend of $2.06 per share. This represents a $8.24 dividend on an annualized basis and a dividend yield of 1.75%. The ex-dividend date of this dividend was Monday, December 2nd. Northrop Grumman’s dividend payout ratio is presently 29.08%.

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.