Northrop Grumman Co. (NYSE:NOC) Stock Position Cut by Stablepoint Partners LLC

Stablepoint Partners LLC trimmed its stake in shares of Northrop Grumman Co. (NYSE:NOC) by 73.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 589 shares of the aerospace company’s stock after selling 1,601 shares during the quarter. Stablepoint Partners LLC’s holdings in Northrop Grumman were worth $276,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently made changes to their positions in the company. Two Sigma Advisers LP raised its holdings 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 worth $388,448,000 after purchasing an additional 372,500 shares in the last quarter. Franklin Resources Inc. raised its stake in shares of Northrop Grumman by 6.2% in the 3rd quarter. Franklin Resources Inc. now owns 2,426,270 shares of the aerospace company’s stock worth $1,315,729,000 after buying an additional 141,816 shares in the last quarter. Wedge Capital Management L L P NC acquired a new stake in shares of Northrop Grumman in the fourth quarter valued at $66,171,000. International Assets Investment Management LLC bought a new position in Northrop Grumman during the fourth quarter valued at about $622,000. Finally, National Bank of Canada FI grew its holdings in Northrop Grumman by 154.7% during the third quarter. National Bank of Canada FI now owns 157,601 shares of the aerospace company’s stock worth $83,224,000 after acquiring an additional 95,724 shares during the period. 83.40% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Northrop Grumman

In other news, VP Benjamin R. Davies sold 1,156 shares of the stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $532.93, for a total transaction of $616,067.08. Following the transaction, the vice president now owns 537 shares of the company’s stock, valued at approximately $286,183.41. This represents a 68.28 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In the last 90 days, insiders sold 1,255 shares of company stock valued at $663,859. Insiders own 0.22% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on NOC shares. Wells Fargo & Company raised shares of Northrop Grumman from an “equal weight” rating to an “overweight” rating and set a $595.00 price target for the company in a report on Wednesday, January 8th. Barclays reduced their target price on shares of Northrop Grumman from $550.00 to $500.00 and set an “equal weight” rating for the company in a report on Monday, January 6th. Susquehanna cut 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. Citigroup raised Northrop Grumman from a “neutral” rating to a “buy” rating and set a $587.00 target price on the stock in a research report on Tuesday, January 21st. Finally, UBS Group lifted their price target on Northrop Grumman from $614.00 to $643.00 and gave the stock a “buy” rating in a research note on Friday, October 25th. Eight research analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $550.94.

Northrop Grumman Stock Performance

Shares of NOC stock opened at $497.13 on Monday. 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 moving average is $478.66 and its two-hundred day moving average is $496.36. 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 firm has a market cap of $72.43 billion, a P/E ratio of 30.80, a PEG ratio of 0.95 and a beta of 0.35.

Northrop Grumman (NYSE:NOC) last released its quarterly earnings data on Thursday, October 24th. The aerospace company reported $7.00 EPS for the quarter, topping analysts’ consensus estimates of $6.07 by $0.93. The firm had revenue of $10 billion for the quarter, compared to the consensus estimate of $10.18 billion. Northrop Grumman had a return on equity of 26.57% and a net margin of 5.79%. The firm’s revenue was up 2.3% on a year-over-year basis. During the same quarter in the prior year, the company posted $6.18 earnings per share. Analysts predict that Northrop Grumman Co. will post 25.96 earnings per share for the current fiscal year.

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

Northrop Grumman Announces Dividend

The firm also recently declared 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. The ex-dividend date was Monday, December 2nd. This represents a $8.24 dividend on an annualized basis and a dividend yield of 1.66%. Northrop Grumman’s dividend payout ratio is currently 51.05%.

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.