State of Alaska Department of Revenue Has $7.33 Million Position in Northrop Grumman Co. (NYSE:NOC)

State of Alaska Department of Revenue lowered its holdings in Northrop Grumman Co. (NYSE:NOC) by 2.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 15,616 shares of the aerospace company’s stock after selling 350 shares during the quarter. State of Alaska Department of Revenue’s holdings in Northrop Grumman were worth $7,328,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. RPg Family Wealth Advisory LLC bought a new position in shares of Northrop Grumman during the 3rd quarter worth approximately $31,000. FSA Wealth Management LLC bought a new position in shares of Northrop Grumman during the third quarter valued at $36,000. Albion Financial Group UT bought a new position in shares of Northrop Grumman during the fourth quarter valued at $33,000. Catalyst Capital Advisors LLC bought a new stake in shares of Northrop Grumman in the 3rd quarter worth about $40,000. Finally, Modus Advisors LLC acquired a new stake in shares of Northrop Grumman during the 4th quarter worth about $38,000. Institutional investors and hedge funds own 83.40% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on NOC shares. Barclays reduced their price objective on Northrop Grumman from $550.00 to $500.00 and set an “equal weight” rating on the stock in a research note on Monday, January 6th. Royal Bank of Canada boosted their target price on shares of Northrop Grumman from $500.00 to $540.00 and gave the stock a “sector perform” rating in a research note on Friday, October 25th. Citigroup raised shares of Northrop Grumman from a “neutral” rating to a “buy” rating and set a $587.00 price target for the company in a report on Tuesday, January 21st. Susquehanna reduced their price objective on Northrop Grumman from $625.00 to $557.00 and set a “positive” rating on the stock in a report on Wednesday, January 8th. Finally, StockNews.com cut Northrop Grumman from a “strong-buy” rating to a “buy” rating in a research note on Monday. Nine research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $544.31.

Northrop Grumman Stock Down 1.3 %

Shares of NYSE NOC opened at $466.29 on Friday. The company has a market cap of $67.50 billion, a price-to-earnings ratio of 16.45, a PEG ratio of 0.91 and a beta of 0.35. 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 50-day moving average price of $477.78 and a two-hundred day moving average price of $499.22.

Northrop Grumman (NYSE:NOC) last issued its quarterly earnings data on Thursday, January 30th. The aerospace company reported $6.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $6.27 by $0.12. Northrop Grumman had a net margin of 10.17% and a return on equity of 26.24%. As a group, analysts forecast that Northrop Grumman Co. will post 28.04 earnings per share for the current fiscal year.

Northrop Grumman Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, December 18th. Shareholders of record on Monday, December 2nd were issued a dividend of $2.06 per share. The ex-dividend date was Monday, December 2nd. This represents a $8.24 dividend on an annualized basis and a yield of 1.77%. Northrop Grumman’s payout ratio is currently 29.08%.

Northrop Grumman declared that its board has initiated a share repurchase plan on Wednesday, December 11th that authorizes the company to buyback $3.00 billion in 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 generally a sign that the company’s board believes its shares are undervalued.

Insider Transactions at Northrop Grumman

In other 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In the last ninety days, insiders sold 1,255 shares of company stock valued at $662,868. Corporate insiders own 0.22% of the company’s stock.

Northrop Grumman 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.