Northrop Grumman Co. (NYSE:NOC) Shares Purchased by S.E.E.D. Planning Group LLC

by · The Markets Daily

S.E.E.D. Planning Group LLC lifted its holdings in Northrop Grumman Co. (NYSE:NOC – Free Report) by 27.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,369 shares of the aerospace company’s stock after acquiring an additional 296 shares during the period. S.E.E.D. Planning Group LLC’s holdings in Northrop Grumman were worth $643,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. RPg Family Wealth Advisory LLC acquired a new stake in Northrop Grumman in the 3rd quarter valued at $31,000. FSA Wealth Management LLC acquired a new position in shares of Northrop Grumman during the third quarter worth about $36,000. Modus Advisors LLC purchased a new stake in shares of Northrop Grumman in the fourth quarter worth about $38,000. Catalyst Capital Advisors LLC acquired a new stake in shares of Northrop Grumman in the third quarter valued at about $40,000. Finally, True Wealth Design LLC purchased a new stake in shares of Northrop Grumman during the 3rd quarter valued at about $53,000. Hedge funds and other institutional investors own 83.40% of the company’s stock.

Insider Buying and Selling at Northrop Grumman

In related news, VP Benjamin R. Davies sold 1,156 shares of the firm’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $532.93, for a total value of $616,067.08. Following the sale, the vice president now owns 537 shares of the company’s stock, valued at approximately $286,183.41. This trade represents a 68.28 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders sold a total of 1,255 shares of company stock worth $663,859 over the last ninety days. Company insiders own 0.22% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have issued reports on NOC. Citigroup increased their price objective on shares of Northrop Grumman from $521.00 to $587.00 and gave the company a “neutral” rating in a research report on Thursday, October 10th. 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 report on Wednesday, January 8th. Susquehanna cut their price objective on shares of Northrop Grumman from $625.00 to $557.00 and set a “positive” rating on the stock in a report on Wednesday, January 8th. TD Cowen raised shares of Northrop Grumman to a “hold” rating in a research report on Tuesday, October 8th. Finally, JPMorgan Chase & Co. lifted their target price on Northrop Grumman from $500.00 to $560.00 and gave the stock a “neutral” rating in a research report on Monday, October 14th. Nine analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $550.94.

View Our Latest Stock Report on NOC

Northrop Grumman Price Performance

Shares of NYSE NOC opened at $475.37 on Wednesday. The business has a 50 day simple moving average of $483.30 and a 200-day simple moving average of $493.62. Northrop Grumman Co. has a twelve month low of $418.60 and a twelve month high of $555.57. The company has a market capitalization of $69.26 billion, a price-to-earnings ratio of 29.45, a price-to-earnings-growth ratio of 0.97 and a beta of 0.35. 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 – Get Free Report) last issued its earnings results on Thursday, October 24th. The aerospace company reported $7.00 earnings per share for the quarter, topping analysts’ consensus estimates of $6.07 by $0.93. Northrop Grumman had a net margin of 5.79% and a return on equity of 26.57%. The company had revenue of $10 billion for the quarter, compared to analysts’ expectations of $10.18 billion. During the same period in the prior year, the company earned $6.18 earnings per share. The firm’s revenue was up 2.3% compared to the same quarter last year. As a group, equities research analysts expect that Northrop Grumman Co. will post 25.93 earnings per share for the current year.

Northrop Grumman announced that its board has initiated a share repurchase 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 repurchase up to 4.3% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board believes its stock is undervalued.

Northrop Grumman Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, December 18th. Shareholders of record on Monday, December 2nd were issued a $2.06 dividend. The ex-dividend date was Monday, December 2nd. This represents a $8.24 dividend on an annualized basis and a yield of 1.73%. Northrop Grumman’s dividend payout ratio is currently 51.05%.

Northrop Grumman Company Profile

(Free Report)

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.

See Also

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