Strategic Planning Group LLC Has $4.25 Million Stock Holdings in Northrop Grumman Co. (NYSE:NOC)

Strategic Planning Group LLC grew its stake in shares of Northrop Grumman Co. (NYSE:NOC) by 2.9% during the 4th quarter, HoldingsChannel reports. The fund owned 9,060 shares of the aerospace company’s stock after acquiring an additional 253 shares during the period. Strategic Planning Group LLC’s holdings in Northrop Grumman were worth $4,252,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the company. RPg Family Wealth Advisory LLC acquired a new position in Northrop Grumman in the 3rd quarter worth about $31,000. FSA Wealth Management LLC acquired a new stake in Northrop Grumman in the third quarter valued at approximately $36,000. Albion Financial Group UT bought a new stake in Northrop Grumman in the fourth quarter worth approximately $33,000. Catalyst Capital Advisors LLC acquired a new position in shares of Northrop Grumman during the 3rd quarter worth $40,000. Finally, Modus Advisors LLC bought a new position in shares of Northrop Grumman during the 4th quarter valued at $38,000. 83.40% of the stock is currently owned by hedge funds and other institutional investors.

Northrop Grumman Stock Down 1.0 %

Shares of NOC stock opened at $481.56 on Thursday. The stock has a market cap of $70.16 billion, a P/E ratio of 29.84, a price-to-earnings-growth ratio of 0.95 and a beta of 0.35. 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 stock has a fifty day moving average price of $478.87 and a 200 day moving average price of $497.74. Northrop Grumman Co. has a one year low of $418.60 and a one year high of $555.57.

Northrop Grumman declared that its board has initiated a stock repurchase program on Wednesday, December 11th that authorizes the company to buyback $3.00 billion in shares. This buyback authorization authorizes the aerospace company to repurchase up to 4.3% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board of directors believes its stock is undervalued.

Northrop Grumman Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, December 18th. Stockholders of record on Monday, December 2nd were given a dividend of $2.06 per share. The ex-dividend date of this dividend was Monday, December 2nd. This represents a $8.24 annualized dividend and a dividend yield of 1.71%. Northrop Grumman’s dividend payout ratio (DPR) is currently 51.05%.

Insider Activity at Northrop Grumman

In other news, VP Benjamin R. Davies sold 1,156 shares of the company’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 sale, the vice president now directly owns 537 shares in the company, valued at approximately $286,183.41. This represents a 68.28 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Insiders have sold a total of 1,255 shares of company stock valued at $663,859 over the last quarter. 0.22% of the stock is owned by company insiders.

Analyst Ratings Changes

Several research firms have commented on NOC. TD Cowen raised shares of Northrop Grumman to a “hold” rating in a research report on Tuesday, October 8th. StockNews.com raised Northrop Grumman from a “buy” rating to a “strong-buy” rating in a report on Sunday, January 19th. Susquehanna lowered their price target on Northrop Grumman from $625.00 to $557.00 and set a “positive” rating on the stock in a report on Wednesday, January 8th. Wells Fargo & Company upgraded shares of Northrop Grumman from an “equal weight” rating to an “overweight” rating and set a $595.00 price objective for the company in a research note on Wednesday, January 8th. Finally, Citigroup upgraded shares of Northrop Grumman from a “neutral” rating to a “buy” rating and set a $587.00 target price on the stock in a research note on Tuesday, January 21st. Eight equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company 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.