HB Wealth Management LLC Lowers Stock Position in Northrop Grumman Co. (NYSE:NOC)

HB Wealth Management LLC reduced its stake in Northrop Grumman Co. (NYSE:NOC) by 0.9% during the fourth quarter, HoldingsChannel reports. The firm owned 5,869 shares of the aerospace company’s stock after selling 56 shares during the period. HB Wealth Management LLC’s holdings in Northrop Grumman were worth $2,754,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of NOC. RPg Family Wealth Advisory LLC purchased a new stake in Northrop Grumman in the third quarter valued at approximately $31,000. FSA Wealth Management LLC purchased a new stake in Northrop Grumman in the third quarter valued at approximately $36,000. Modus Advisors LLC purchased a new stake in Northrop Grumman in the fourth quarter valued at approximately $38,000. Catalyst Capital Advisors LLC purchased a new stake in Northrop Grumman in the third quarter valued at approximately $40,000. Finally, True Wealth Design LLC bought a new position in Northrop Grumman during the third quarter valued at approximately $53,000. 83.40% of the stock is owned by hedge funds and other institutional investors.

Northrop Grumman Stock Performance

Shares of NOC stock opened at $482.49 on Monday. The stock has a fifty day moving average of $480.55 and a 200 day moving average of $494.10. Northrop Grumman Co. has a 52 week low of $418.60 and a 52 week high of $555.57. The firm has a market capitalization of $70.30 billion, a price-to-earnings ratio of 29.89, a PEG ratio of 0.87 and a beta of 0.35. The company has a quick ratio of 0.97, a current ratio of 1.09 and a debt-to-equity ratio of 1.00.

Northrop Grumman (NYSE:NOC) last announced its quarterly earnings results on Thursday, October 24th. The aerospace company reported $7.00 EPS for the quarter, topping analysts’ consensus estimates of $6.07 by $0.93. Northrop Grumman had a return on equity of 26.57% and a net margin of 5.79%. The company had revenue of $10 billion during the quarter, compared to analyst estimates of $10.18 billion. During the same quarter last year, the firm posted $6.18 earnings per share. The firm’s revenue was up 2.3% on a year-over-year basis. As a group, research analysts expect that Northrop Grumman Co. will post 25.93 earnings per share for the current year.

Northrop Grumman Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, December 18th. Shareholders of record on Monday, December 2nd were given a dividend of $2.06 per share. This represents a $8.24 annualized dividend and a yield of 1.71%. The ex-dividend date was Monday, December 2nd. Northrop Grumman’s dividend payout ratio is currently 51.05%.

Northrop Grumman declared that its Board of Directors has approved a stock repurchase plan on Wednesday, December 11th that permits the company to buyback $3.00 billion in shares. This buyback authorization permits the aerospace company to reacquire up to 4.3% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s management believes its stock is undervalued.

Analyst Upgrades and Downgrades

NOC has been the topic of a number of recent research reports. Susquehanna reduced their price target 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. Barclays reduced their price target on shares of Northrop Grumman from $550.00 to $500.00 and set an “equal weight” rating on the stock in a research report on Monday, January 6th. Citigroup increased their price target 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 upgraded shares of Northrop Grumman from an “equal weight” rating to an “overweight” rating and set a $595.00 price target on the stock in a research report on Wednesday, January 8th. Finally, JPMorgan Chase & Co. increased their price target on shares of Northrop Grumman from $500.00 to $560.00 and gave the company a “neutral” rating in a research report on Monday, October 14th. Nine analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $550.94.

Insider Buying and Selling at Northrop Grumman

In other Northrop Grumman news, VP Benjamin R. Davies sold 1,156 shares of the firm’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $532.93, for a total transaction of $616,067.08. Following the completion of the transaction, 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Over the last 90 days, insiders sold 1,255 shares of company stock valued at $663,859. 0.22% of the stock is currently owned by company insiders.

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.