Stablepoint Partners LLC Sells 1,601 Shares of Northrop Grumman Co. (NYSE:NOC)

Stablepoint Partners LLC decreased its holdings in shares of Northrop Grumman Co. (NYSE:NOC) by 73.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 589 shares of the aerospace company’s stock after selling 1,601 shares during the quarter. Stablepoint Partners LLC’s holdings in Northrop Grumman were worth $276,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Asio Capital LLC boosted its position in shares of Northrop Grumman by 0.6% in the fourth quarter. Asio Capital LLC now owns 6,228 shares of the aerospace company’s stock valued at $2,923,000 after acquiring an additional 35 shares during the period. Grimes & Company Inc. boosted its holdings in Northrop Grumman by 68.8% in the 4th quarter. Grimes & Company Inc. now owns 932 shares of the aerospace company’s stock valued at $437,000 after purchasing an additional 380 shares during the period. Cyndeo Wealth Partners LLC grew its position in Northrop Grumman by 5.4% in the 4th quarter. Cyndeo Wealth Partners LLC now owns 978 shares of the aerospace company’s stock worth $459,000 after purchasing an additional 50 shares during the last quarter. Geneos Wealth Management Inc. increased its holdings in shares of Northrop Grumman by 9.8% during the 4th quarter. Geneos Wealth Management Inc. now owns 2,049 shares of the aerospace company’s stock worth $962,000 after purchasing an additional 183 shares during the period. Finally, Pflug Koory LLC raised its position in shares of Northrop Grumman by 0.7% during the fourth quarter. Pflug Koory LLC now owns 3,370 shares of the aerospace company’s stock valued at $1,582,000 after buying an additional 24 shares during the last quarter. Institutional investors and hedge funds own 83.40% of the company’s stock.

Northrop Grumman Stock Down 0.5 %

Shares of NOC stock opened at $497.13 on Monday. The firm’s fifty day moving average price is $478.66 and its two-hundred day moving average price is $496.36. 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 Co. has a 1 year low of $418.60 and a 1 year high of $555.57. The firm has a market capitalization of $72.43 billion, a P/E ratio of 30.80, a PEG ratio of 0.95 and a beta of 0.35.

Northrop Grumman (NYSE:NOC) last released its earnings results on Thursday, October 24th. The aerospace company reported $7.00 earnings per share (EPS) for the quarter, beating 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 business had revenue of $10 billion for the quarter, compared to the consensus estimate of $10.18 billion. During the same quarter in the previous year, the business earned $6.18 earnings per share. Northrop Grumman’s quarterly revenue was up 2.3% on a year-over-year basis. On average, equities analysts predict that Northrop Grumman Co. will post 25.96 EPS for the current fiscal year.

Northrop Grumman announced that its board has initiated a share buyback plan on Wednesday, December 11th that allows the company to repurchase $3.00 billion in shares. This repurchase authorization allows the aerospace company to repurchase up to 4.3% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s leadership believes its stock is undervalued.

Northrop Grumman Dividend Announcement

The business also recently declared 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 dividend yield of 1.66%. The ex-dividend date was Monday, December 2nd. Northrop Grumman’s dividend payout ratio (DPR) is 51.05%.

Insider Activity

In related news, VP Benjamin R. Davies sold 1,156 shares of the firm’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $532.93, for a total value of $616,067.08. Following the completion of the sale, the vice president now directly owns 537 shares in the company, 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 the SEC website. In the last 90 days, insiders sold 1,255 shares of company stock valued at $663,859. 0.22% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on NOC. Barclays lowered their price target 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. StockNews.com upgraded Northrop Grumman from a “buy” rating to a “strong-buy” rating in a research note on Sunday, January 19th. 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 note on Wednesday, January 8th. TD Cowen upgraded shares of Northrop Grumman to a “hold” rating in a research note on Tuesday, October 8th. Finally, JPMorgan Chase & Co. lifted their target price 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. Eight investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $550.94.

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.