Northrop Grumman Co. (NYSE:NOC) Shares Purchased by Grimes & Company Inc.

Grimes & Company Inc. raised its position in shares of Northrop Grumman Co. (NYSE:NOC) by 68.8% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 932 shares of the aerospace company’s stock after purchasing an additional 380 shares during the period. Grimes & Company Inc.’s holdings in Northrop Grumman were worth $437,000 at the end of the most recent quarter.

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

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. Citigroup raised shares of Northrop Grumman from a “neutral” rating to a “buy” rating and set a $587.00 price target for the company in a research note on Tuesday, January 21st. Susquehanna reduced their price target on shares of Northrop Grumman from $625.00 to $557.00 and set a “positive” rating for the company in a research note on Wednesday, January 8th. 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 research note on Wednesday, January 8th. TD Cowen raised shares of Northrop Grumman to a “hold” rating in a research note on Tuesday, October 8th. Finally, Royal Bank of Canada increased their target price on shares of Northrop Grumman from $500.00 to $540.00 and gave the company a “sector perform” rating in a research note on Friday, October 25th. Eight equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $550.94.

Northrop Grumman Stock Down 0.5 %

NOC stock opened at $497.13 on Friday. Northrop Grumman Co. has a 52-week low of $418.60 and a 52-week high of $555.57. The company’s 50 day simple moving average is $478.66 and its 200-day simple moving average is $495.86. 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 capitalization of $72.43 billion, a P/E ratio of 30.80, a P/E/G ratio of 0.95 and a beta of 0.35.

Northrop Grumman (NYSE:NOC) last released its quarterly earnings results on Thursday, October 24th. The aerospace company reported $7.00 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $6.07 by $0.93. The business had revenue of $10 billion for the quarter, compared to analyst estimates of $10.18 billion. Northrop Grumman had a net margin of 5.79% and a return on equity of 26.57%. The firm’s revenue was up 2.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $6.18 earnings per share. As a group, equities research analysts anticipate that Northrop Grumman Co. will post 25.96 EPS for the current year.

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 $2.06 dividend. The ex-dividend date of this dividend was Monday, December 2nd. This represents a $8.24 annualized dividend and a yield of 1.66%. Northrop Grumman’s dividend payout ratio is presently 51.05%.

Northrop Grumman declared that its board has authorized a stock 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 buy up to 4.3% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board believes its shares are undervalued.

Insider Buying and Selling at Northrop Grumman

In other Northrop Grumman news, VP Benjamin R. Davies sold 1,156 shares of the company’s stock in a transaction that occurred on Monday, November 11th. The shares were 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 approximately $286,183.41. This represents a 68.28 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In the last quarter, insiders have sold 1,255 shares of company stock worth $663,859. 0.22% of the stock is currently owned by company insiders.

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.