World Investment Advisors LLC Decreases Holdings in Northrop Grumman Co. (NYSE:NOC)

World Investment Advisors LLC reduced its holdings in shares of Northrop Grumman Co. (NYSE:NOC) by 4.3% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,242 shares of the aerospace company’s stock after selling 56 shares during the period. World Investment Advisors LLC’s holdings in Northrop Grumman were worth $656,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in NOC. Summit Global Investments bought a new stake in Northrop Grumman in the second quarter worth $805,000. Aaron Wealth Advisors LLC increased its stake in Northrop Grumman by 16.6% in the 2nd quarter. Aaron Wealth Advisors LLC now owns 935 shares of the aerospace company’s stock worth $408,000 after purchasing an additional 133 shares during the period. Fifth Third Wealth Advisors LLC increased its stake in Northrop Grumman by 28.3% in the 2nd quarter. Fifth Third Wealth Advisors LLC now owns 2,299 shares of the aerospace company’s stock worth $1,002,000 after purchasing an additional 507 shares during the period. KG&L Capital Management LLC bought a new stake in Northrop Grumman in the second quarter valued at approximately $375,000. Finally, American National Bank boosted its stake in shares of Northrop Grumman by 41.0% during the second quarter. American National Bank now owns 2,732 shares of the aerospace company’s stock valued at $1,191,000 after purchasing an additional 794 shares during the period. 83.40% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Northrop Grumman

In other Northrop Grumman news, VP Benjamin R. Davies sold 1,156 shares of the company’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $532.93, for a total transaction of $616,067.08. Following the transaction, the vice president now owns 537 shares in the company, valued at approximately $286,183.41. This represents a 68.28 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders have sold 1,255 shares of company stock valued at $666,461 over the last ninety days. Insiders own 0.22% of the company’s stock.

Northrop Grumman Stock Up 0.5 %

NYSE:NOC opened at $482.61 on Tuesday. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.97 and a current ratio of 1.09. The firm has a market cap of $70.31 billion, a P/E ratio of 29.90, a P/E/G ratio of 0.96 and a beta of 0.33. Northrop Grumman Co. has a fifty-two week low of $418.60 and a fifty-two week high of $555.57. The firm has a 50-day simple moving average of $505.74 and a two-hundred day simple moving average of $488.75.

Northrop Grumman (NYSE:NOC) last announced its quarterly earnings results on Thursday, October 24th. The aerospace company reported $7.00 earnings per share for the quarter, beating the consensus estimate 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 during the quarter, compared to the consensus estimate of $10.18 billion. During the same quarter last year, the firm earned $6.18 earnings per share. The firm’s quarterly revenue was up 2.3% compared to the same quarter last year. Analysts predict that Northrop Grumman Co. will post 25.93 earnings per share for the current fiscal year.

Northrop Grumman declared that its Board of Directors has authorized a share buyback 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 buy up to 4.3% of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s leadership believes its shares are undervalued.

Northrop Grumman Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 18th. Stockholders of record on Monday, December 2nd will be issued a dividend of $2.06 per share. This represents a $8.24 dividend on an annualized basis and a dividend yield of 1.71%. The ex-dividend date of this dividend is Monday, December 2nd. Northrop Grumman’s payout ratio is currently 51.05%.

Analysts Set New Price Targets

A number of equities research analysts recently commented on NOC shares. Barclays upped their price target on shares of Northrop Grumman from $500.00 to $550.00 and gave the company an “equal weight” rating in a report on Tuesday, October 29th. Royal Bank of Canada raised their price target on Northrop Grumman from $500.00 to $540.00 and gave the stock a “sector perform” rating in a research note on Friday, October 25th. StockNews.com lowered shares of Northrop Grumman from a “strong-buy” rating to a “buy” rating in a research note on Saturday. Wells Fargo & Company decreased their price target on shares of Northrop Grumman from $565.00 to $505.00 and set an “equal weight” rating for the company in a research note on Wednesday, December 11th. Finally, Citigroup upped their target price on Northrop Grumman from $521.00 to $587.00 and gave the stock a “neutral” rating in a report on Thursday, October 10th. Ten investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Northrop Grumman currently has a consensus rating of “Hold” and an average target price of $553.27.

Northrop Grumman Company 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.