Focused Investors LLC Sells 1,900 Shares of Northrop Grumman Co. (NYSE:NOC)

Focused Investors LLC trimmed its holdings in Northrop Grumman Co. (NYSE:NOC) by 0.9% in the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 214,300 shares of the aerospace company’s stock after selling 1,900 shares during the quarter. Northrop Grumman comprises approximately 3.2% of Focused Investors LLC’s portfolio, making the stock its 16th biggest position. Focused Investors LLC’s holdings in Northrop Grumman were worth $100,569,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of the business. Lockheed Martin Investment Management Co. raised its holdings in shares of Northrop Grumman by 19.9% during the fourth quarter. Lockheed Martin Investment Management Co. now owns 16,660 shares of the aerospace company’s stock valued at $7,818,000 after purchasing an additional 2,770 shares during the last quarter. Trinity Street Asset Management LLP boosted its stake in shares of Northrop Grumman by 3.8% in the 4th quarter. Trinity Street Asset Management LLP now owns 48,367 shares of the aerospace company’s stock worth $22,698,000 after buying an additional 1,786 shares during the last quarter. Y Intercept Hong Kong Ltd purchased a new position in Northrop Grumman in the third quarter worth about $604,000. Fisher Asset Management LLC boosted its holdings in shares of Northrop Grumman by 2.6% in the third quarter. Fisher Asset Management LLC now owns 212,514 shares of the aerospace company’s stock worth $112,222,000 after buying an additional 5,334 shares during the last quarter. Finally, Parsons Capital Management Inc. RI boosted its holdings in shares of Northrop Grumman by 1,316.9% in the fourth quarter. Parsons Capital Management Inc. RI now owns 16,139 shares of the aerospace company’s stock worth $7,574,000 after buying an additional 15,000 shares during the last quarter. Hedge funds and other institutional investors own 83.40% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have weighed in on NOC. StockNews.com downgraded shares of Northrop Grumman from a “strong-buy” rating to a “buy” rating in a research report on Monday, February 3rd. Susquehanna lowered their target price on Northrop Grumman from $625.00 to $557.00 and set a “positive” rating on the stock in a research report on Wednesday, January 8th. Wolfe Research upgraded Northrop Grumman from an “underperform” rating to a “peer perform” rating in a research report on Monday, February 3rd. UBS Group lowered their price objective on Northrop Grumman from $579.00 to $558.00 and set a “buy” rating on the stock in a research report on Friday, January 31st. Finally, Citigroup increased their target price on shares of Northrop Grumman from $587.00 to $591.00 and gave the stock a “buy” rating in a report on Monday, February 10th. Nine analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Northrop Grumman presently has an average rating of “Moderate Buy” and a consensus target price of $542.88.

Insider Buying and Selling at Northrop Grumman

In related news, VP Benjamin R. Davies sold 192 shares of the business’s stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $429.08, for a total transaction of $82,383.36. Following the completion of the transaction, the vice president now owns 709 shares in the company, valued at $304,217.72. The trade was a 21.31 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Kathy J. Warden sold 3,750 shares of the company’s stock in a transaction on Thursday, March 6th. The shares were sold at an average price of $475.65, for a total value of $1,783,687.50. Following the completion of the transaction, the chief executive officer now directly owns 212,852 shares in the company, valued at $101,243,053.80. This trade represents a 1.73 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 4,505 shares of company stock worth $2,126,405 over the last 90 days. Company insiders own 0.22% of the company’s stock.

Northrop Grumman Price Performance

NYSE:NOC opened at $492.25 on Friday. The firm has a market capitalization of $71.26 billion, a price-to-earnings ratio of 17.37, a PEG ratio of 3.73 and a beta of 0.31. The company has a debt-to-equity ratio of 0.96, a current ratio of 1.01 and a quick ratio of 0.91. The business has a 50 day simple moving average of $475.18 and a 200-day simple moving average of $493.32. Northrop Grumman Co. has a 1 year low of $418.60 and a 1 year high of $555.57.

Northrop Grumman (NYSE:NOC) last posted its quarterly earnings data on Thursday, January 30th. The aerospace company reported $6.39 earnings per share for the quarter, beating analysts’ consensus estimates of $6.27 by $0.12. Northrop Grumman had a net margin of 10.17% and a return on equity of 26.24%. Equities analysts forecast that Northrop Grumman Co. will post 28.05 EPS for the current year.

Northrop Grumman Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 19th. Shareholders of record on Monday, March 3rd were paid a $2.06 dividend. This represents a $8.24 annualized dividend and a yield of 1.67%. The ex-dividend date was Monday, March 3rd. Northrop Grumman’s payout ratio is currently 29.08%.

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

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.