Manning & Napier Advisors LLC Sells 9,337 Shares of Northrop Grumman Co. (NYSE:NOC)

Manning & Napier Advisors LLC cut its position in Northrop Grumman Co. (NYSE:NOC) by 4.6% in the 4th quarter, Holdings Channel.com reports. The firm owned 192,850 shares of the aerospace company’s stock after selling 9,337 shares during the period. Manning & Napier Advisors LLC’s holdings in Northrop Grumman were worth $90,503,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the company. Invesco LLC raised its position in Northrop Grumman by 3.8% in the fourth quarter. Invesco LLC now owns 6,813 shares of the aerospace company’s stock valued at $3,197,000 after purchasing an additional 251 shares during the last quarter. Allen Capital Group LLC raised its position in Northrop Grumman by 5.8% in the fourth quarter. Allen Capital Group LLC now owns 1,053 shares of the aerospace company’s stock valued at $494,000 after purchasing an additional 58 shares during the last quarter. Valicenti Advisory Services Inc. raised its position in Northrop Grumman by 5.0% in the fourth quarter. Valicenti Advisory Services Inc. now owns 9,808 shares of the aerospace company’s stock valued at $4,603,000 after purchasing an additional 471 shares during the last quarter. Strategic Blueprint LLC raised its position in Northrop Grumman by 15.9% in the fourth quarter. Strategic Blueprint LLC now owns 750 shares of the aerospace company’s stock valued at $352,000 after purchasing an additional 103 shares during the last quarter. Finally, Hantz Financial Services Inc. raised its position in Northrop Grumman by 14.4% in the fourth quarter. Hantz Financial Services Inc. now owns 11,714 shares of the aerospace company’s stock valued at $5,497,000 after purchasing an additional 1,472 shares during the last quarter. 83.40% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Northrop Grumman

In other news, VP Benjamin R. Davies sold 1,156 shares of the firm’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 value of $616,067.08. Following the transaction, the vice president now owns 537 shares in the company, valued at $286,183.41. This trade represents a 68.28 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Over the last quarter, insiders sold 1,255 shares of company stock valued at $663,859. Company insiders own 0.22% of the company’s stock.

Northrop Grumman Stock Down 0.5 %

Northrop Grumman stock traded down $2.31 during mid-day trading on Wednesday, reaching $484.33. The stock had a trading volume of 70,646 shares, compared to its average volume of 795,032. 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 fifty-two week low of $418.60 and a fifty-two week high of $555.57. The stock’s 50-day simple moving average is $478.87 and its 200-day simple moving average is $497.74. The firm has a market capitalization of $70.57 billion, a PE ratio of 30.00, a price-to-earnings-growth ratio of 0.95 and a beta of 0.35.

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

Northrop Grumman Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, December 18th. Shareholders of record on Monday, December 2nd were paid a $2.06 dividend. The ex-dividend date of this dividend was Monday, December 2nd. This represents a $8.24 dividend on an annualized basis and a yield of 1.70%. Northrop Grumman’s dividend payout ratio (DPR) is presently 51.05%.

Wall Street Analyst Weigh In

NOC has been the subject of several research reports. UBS Group increased their target price on Northrop Grumman from $614.00 to $643.00 and gave the company a “buy” rating in a research report on Friday, October 25th. JPMorgan Chase & Co. raised their price objective on Northrop Grumman from $500.00 to $560.00 and gave the stock a “neutral” rating in a research report on Monday, October 14th. Susquehanna lowered their price objective on Northrop Grumman from $625.00 to $557.00 and set a “positive” rating for the company in a research report on Wednesday, January 8th. Wells Fargo & Company upgraded 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. Finally, Barclays lowered their price objective on Northrop Grumman from $550.00 to $500.00 and set an “equal weight” rating for the company in a research report on Monday, January 6th. Eight equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Northrop Grumman presently has a consensus rating of “Moderate Buy” and a consensus target price of $550.94.

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.