Patten Group Inc. Purchases 93 Shares of Northrop Grumman Co. (NYSE:NOC)

Patten Group Inc. raised its position in Northrop Grumman Co. (NYSE:NOC) by 2.8% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 3,413 shares of the aerospace company’s stock after acquiring an additional 93 shares during the quarter. Patten Group Inc.’s holdings in Northrop Grumman were worth $1,602,000 at the end of the most recent quarter.

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

Wall Street Analysts Forecast Growth

Several research firms have issued reports on NOC. UBS Group cut their price target on Northrop Grumman from $579.00 to $558.00 and set a “buy” rating for the company in a report on Friday, January 31st. Citigroup boosted their price objective on Northrop Grumman from $587.00 to $591.00 and gave the company a “buy” rating in a research note on Monday, February 10th. Wells Fargo & Company decreased their target price on shares of Northrop Grumman from $574.00 to $545.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 26th. StockNews.com lowered shares of Northrop Grumman from a “strong-buy” rating to a “buy” rating in a research report on Monday, February 3rd. Finally, Wolfe Research upgraded shares of Northrop Grumman from an “underperform” rating to a “peer perform” rating in a research note on Monday, February 3rd. Nine investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $542.75.

Northrop Grumman Stock Up 2.6 %

Shares of NYSE NOC opened at $473.57 on Tuesday. The firm’s 50-day moving average price is $469.56 and its 200-day moving average price is $495.91. The company has a current ratio of 1.01, a quick ratio of 0.91 and a debt-to-equity ratio of 0.96. Northrop Grumman Co. has a 12-month low of $418.60 and a 12-month high of $555.57. The stock has a market capitalization of $68.55 billion, a price-to-earnings ratio of 16.71, a P/E/G ratio of 3.73 and a beta of 0.35.

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

Northrop Grumman Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 19th. Stockholders of record on Monday, March 3rd will be issued a $2.06 dividend. The ex-dividend date is Monday, March 3rd. This represents a $8.24 annualized dividend and a dividend yield of 1.74%. Northrop Grumman’s dividend payout ratio (DPR) is presently 29.08%.

Northrop Grumman declared that its board has initiated a share buyback plan on Wednesday, December 11th that allows the company to buyback $3.00 billion in shares. This buyback authorization allows the aerospace company to buy up to 4.3% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s leadership believes its shares are undervalued.

Insider Buying and Selling

In other Northrop Grumman news, VP Benjamin R. Davies sold 464 shares of the business’s stock in a transaction that occurred on Friday, February 28th. The stock was 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 in the company, valued at $112,883.75. The trade was a 65.44 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In the last ninety days, insiders sold 755 shares of company stock valued at $342,972. Company insiders own 0.22% of the company’s stock.

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.