Franklin Street Advisors Inc. NC Reduces Stake in Northrop Grumman Co. (NYSE:NOC)

Franklin Street Advisors Inc. NC lessened its stake in shares of Northrop Grumman Co. (NYSE:NOC) by 12.8% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 680 shares of the aerospace company’s stock after selling 100 shares during the quarter. Franklin Street Advisors Inc. NC’s holdings in Northrop Grumman were worth $319,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of NOC. RPg Family Wealth Advisory LLC bought a new stake in shares of Northrop Grumman in the 3rd quarter worth approximately $31,000. FSA Wealth Management LLC bought a new stake in Northrop Grumman during the 3rd quarter valued at about $36,000. Meeder Asset Management Inc. lifted its stake in shares of Northrop Grumman by 245.5% in the second quarter. Meeder Asset Management Inc. now owns 76 shares of the aerospace company’s stock worth $33,000 after buying an additional 54 shares in the last quarter. Catalyst Capital Advisors LLC purchased a new stake in shares of Northrop Grumman during the third quarter valued at approximately $40,000. Finally, Modus Advisors LLC purchased a new position in Northrop Grumman in the 4th quarter worth approximately $38,000. 83.40% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

NOC has been the subject of a number of research analyst reports. Barclays reduced their target price on Northrop Grumman from $550.00 to $500.00 and set an “equal weight” rating for the company in a report on Monday. TD Cowen raised shares of Northrop Grumman to a “hold” rating in a report on Tuesday, October 8th. Wells Fargo & Company upgraded 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. JPMorgan Chase & Co. upped their price objective on Northrop Grumman from $500.00 to $560.00 and gave the stock a “neutral” rating in a research note on Monday, October 14th. Finally, Citigroup boosted their price objective on Northrop Grumman from $521.00 to $587.00 and gave the company a “neutral” rating in a research note on Thursday, October 10th. Nine equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $551.40.

Insider Activity

In other news, VP Benjamin R. Davies sold 1,156 shares of the business’s 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 sale, the vice president now owns 537 shares in the company, valued at approximately $286,183.41. The trade was a 68.28 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Over the last ninety days, insiders have sold 1,255 shares of company stock worth $663,859. Corporate insiders own 0.22% of the company’s stock.

Northrop Grumman Trading Down 1.0 %

Shares of NYSE NOC traded down $4.81 during trading hours on Friday, reaching $457.40. The stock had a trading volume of 184,688 shares, compared to its average volume of 684,036. Northrop Grumman Co. has a 52-week low of $418.60 and a 52-week high of $555.57. The firm has a market cap of $66.64 billion, a price-to-earnings ratio of 28.34, a P/E/G ratio of 0.97 and a beta of 0.35. The business’s fifty day moving average price is $485.71 and its two-hundred day moving average price is $492.01. The company has a current ratio of 1.09, a quick ratio of 0.97 and a debt-to-equity ratio of 1.00.

Northrop Grumman (NYSE:NOC) last posted its quarterly earnings results on Thursday, October 24th. The aerospace company reported $7.00 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $6.07 by $0.93. The business 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 business’s revenue was up 2.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $6.18 EPS. Analysts expect that Northrop Grumman Co. will post 25.93 EPS for the current fiscal year.

Northrop Grumman Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, December 18th. Stockholders of record on Monday, December 2nd were given a $2.06 dividend. The ex-dividend date of this dividend was Monday, December 2nd. This represents a $8.24 annualized dividend and a dividend yield of 1.80%. Northrop Grumman’s payout ratio is presently 51.05%.

Northrop Grumman announced that its Board of Directors has authorized a share 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 purchase up to 4.3% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s board of directors believes its shares are undervalued.

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.