Blue Trust Inc. Buys 96 Shares of Northrop Grumman Co. (NYSE:NOC)

Blue Trust Inc. grew its stake in shares of Northrop Grumman Co. (NYSE:NOC) by 2.7% in the fourth quarter, HoldingsChannel.com reports. The firm owned 3,669 shares of the aerospace company’s stock after buying an additional 96 shares during the quarter. Blue Trust Inc.’s holdings in Northrop Grumman were worth $1,722,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in NOC. RPg Family Wealth Advisory LLC purchased a new position in shares of Northrop Grumman in the third quarter valued at about $31,000. Albion Financial Group UT bought a new stake in shares of Northrop Grumman in the fourth quarter worth about $33,000. FSA Wealth Management LLC purchased a new position in Northrop Grumman during the 3rd quarter valued at about $36,000. Modus Advisors LLC bought a new position in Northrop Grumman during the 4th quarter valued at approximately $38,000. Finally, Catalyst Capital Advisors LLC purchased a new stake in Northrop Grumman in the 3rd quarter worth approximately $40,000. 83.40% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Northrop Grumman

In other news, VP Benjamin R. Davies sold 1,156 shares of the business’s stock in a transaction 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 completion of the transaction, the vice president now owns 537 shares in the company, valued at $286,183.41. The trade was a 68.28 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Over the last 90 days, insiders have sold 1,255 shares of company stock worth $663,859. Corporate insiders own 0.22% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on NOC shares. Susquehanna reduced their target price on Northrop Grumman from $625.00 to $557.00 and set a “positive” rating on the stock in a research note on Wednesday, January 8th. Barclays reduced 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 research report on Monday, January 6th. TD Cowen raised shares of Northrop Grumman to a “hold” rating in a research note on Tuesday, October 8th. 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, StockNews.com upgraded shares of Northrop Grumman from a “buy” rating to a “strong-buy” rating in a report on Sunday, January 19th. Eight research analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Northrop Grumman presently has a consensus rating of “Moderate Buy” and a consensus price target of $550.94.

Northrop Grumman Price Performance

NOC opened at $503.09 on Tuesday. The firm has a market cap of $73.30 billion, a PE ratio of 31.17, a P/E/G ratio of 0.95 and a beta of 0.35. The stock has a 50-day moving average price of $478.66 and a 200-day moving average price of $496.86. Northrop Grumman Co. has a 1 year low of $418.60 and a 1 year high of $555.57. The company has a debt-to-equity ratio of 1.00, a current ratio of 1.09 and a quick ratio of 0.97.

Northrop Grumman declared that its board has authorized a share repurchase plan on Wednesday, December 11th that permits the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization permits the aerospace company to reacquire up to 4.3% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s board believes its shares are undervalued.

Northrop Grumman Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, December 18th. Stockholders of record on Monday, December 2nd were paid a $2.06 dividend. The ex-dividend date was Monday, December 2nd. This represents a $8.24 annualized dividend and a dividend yield of 1.64%. Northrop Grumman’s dividend payout ratio is presently 51.05%.

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.