Northrop Grumman Co. (NYSE:NOC) Shares Sold by SevenBridge Financial Group LLC

SevenBridge Financial Group LLC lessened its position in shares of Northrop Grumman Co. (NYSE:NOC) by 3.9% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 568 shares of the aerospace company’s stock after selling 23 shares during the quarter. SevenBridge Financial Group LLC’s holdings in Northrop Grumman were worth $269,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in NOC. Whipplewood Advisors LLC purchased a new stake in shares of Northrop Grumman during the 4th quarter worth about $31,000. Albion Financial Group UT acquired a new position in Northrop Grumman in the 4th quarter worth about $33,000. Modus Advisors LLC purchased a new position in Northrop Grumman during the fourth quarter worth approximately $38,000. Stonebridge Financial Group LLC acquired a new stake in Northrop Grumman in the fourth quarter valued at approximately $42,000. Finally, Rakuten Securities Inc. increased its position in shares of Northrop Grumman by 291.7% in the fourth quarter. Rakuten Securities Inc. now owns 94 shares of the aerospace company’s stock valued at $44,000 after buying an additional 70 shares in the last quarter. Hedge funds and other institutional investors own 83.40% of the company’s stock.

Northrop Grumman Stock Down 0.2 %

Shares of NYSE:NOC opened at $512.16 on Thursday. Northrop Grumman Co. has a 52-week low of $418.60 and a 52-week high of $555.57. The stock has a market cap of $74.14 billion, a P/E ratio of 18.07, a PEG ratio of 3.73 and a beta of 0.31. The business has a fifty day moving average of $479.17 and a two-hundred day moving average of $492.73. The company has a quick ratio of 0.91, a current ratio of 1.01 and a debt-to-equity ratio of 0.96.

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

Northrop Grumman announced that its board has authorized a stock buyback plan on Wednesday, December 11th that authorizes the company to repurchase $3.00 billion in 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 often a sign that the company’s board believes its shares are undervalued.

Northrop Grumman Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 19th. Investors of record on Monday, March 3rd were issued a $2.06 dividend. This represents a $8.24 dividend on an annualized basis and a yield of 1.61%. The ex-dividend date of this dividend was Monday, March 3rd. Northrop Grumman’s dividend payout ratio is presently 29.08%.

Insider Buying and Selling

In other Northrop Grumman news, VP Benjamin R. Davies sold 464 shares of the stock in a transaction dated Friday, February 28th. The shares were sold at an average price of $460.75, for a total transaction of $213,788.00. Following the completion of the transaction, the vice president now owns 245 shares of the company’s stock, valued at $112,883.75. This trade represents a 65.44 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Kathy J. Warden sold 3,750 shares of Northrop Grumman stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $475.65, for a total transaction of $1,783,687.50. Following the sale, the chief executive officer now owns 212,852 shares of the company’s stock, valued at approximately $101,243,053.80. This represents a 1.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 4,505 shares of company stock worth $2,126,405. Company insiders own 0.22% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on NOC shares. Wells Fargo & Company increased their target price on Northrop Grumman from $545.00 to $547.00 and gave the company an “overweight” rating in a research report on Friday, March 7th. Barclays decreased their price objective on shares of Northrop Grumman from $550.00 to $500.00 and set an “equal weight” rating on the stock in a report on Monday, January 6th. Susquehanna dropped their target price on shares of Northrop Grumman from $625.00 to $557.00 and set a “positive” rating on the stock in a research report on Wednesday, January 8th. Royal Bank of Canada upgraded shares of Northrop Grumman from a “sector perform” rating to an “outperform” rating and upped their price target for the stock from $500.00 to $575.00 in a research report on Thursday, March 27th. Finally, StockNews.com cut Northrop Grumman from a “strong-buy” rating to a “buy” rating in a report on Monday, February 3rd. Eight analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $545.06.

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.