Princeton Global Asset Management LLC Buys 54 Shares of Northrop Grumman Co. (NYSE:NOC)

Princeton Global Asset Management LLC lifted its stake in shares of Northrop Grumman Co. (NYSE:NOC) by 0.9% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 6,065 shares of the aerospace company’s stock after acquiring an additional 54 shares during the quarter. Princeton Global Asset Management LLC’s holdings in Northrop Grumman were worth $2,846,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in NOC. Two Sigma Advisers LP lifted its holdings in Northrop Grumman by 102.6% during the third quarter. Two Sigma Advisers LP now owns 735,600 shares of the aerospace company’s stock valued at $388,448,000 after purchasing an additional 372,500 shares in the last quarter. Franklin Resources Inc. lifted its stake in shares of Northrop Grumman by 6.2% during the 3rd quarter. Franklin Resources Inc. now owns 2,426,270 shares of the aerospace company’s stock valued at $1,315,729,000 after buying an additional 141,816 shares in the last quarter. Wedge Capital Management L L P NC bought a new position in Northrop Grumman in the 4th quarter worth $66,171,000. International Assets Investment Management LLC purchased a new stake in Northrop Grumman in the 4th quarter worth $622,000. Finally, National Bank of Canada FI increased its stake in Northrop Grumman by 154.7% in the 3rd quarter. National Bank of Canada FI now owns 157,601 shares of the aerospace company’s stock worth $83,224,000 after buying an additional 95,724 shares in the last quarter. 83.40% of the stock is currently owned by institutional investors.

Northrop Grumman Stock Up 0.7 %

Shares of NOC opened at $486.97 on Monday. The company has a quick ratio of 0.91, a current ratio of 1.01 and a debt-to-equity ratio of 0.96. The business has a fifty day moving average of $478.20 and a 200 day moving average of $498.35. The company has a market cap of $70.49 billion, a PE ratio of 17.18, a P/E/G ratio of 0.91 and a beta of 0.35. Northrop Grumman Co. has a 52-week low of $418.60 and a 52-week high of $555.57.

Northrop Grumman (NYSE:NOC) last released its earnings results on Thursday, January 30th. The aerospace company reported $6.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.27 by $0.12. Northrop Grumman had a net margin of 10.17% and a return on equity of 26.24%. On average, sell-side analysts expect that Northrop Grumman Co. will post 28.04 EPS for the current year.

Northrop Grumman Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, December 18th. Stockholders of record on Monday, December 2nd were issued a $2.06 dividend. The ex-dividend date of this dividend was Monday, December 2nd. This represents a $8.24 annualized dividend and a dividend yield of 1.69%. Northrop Grumman’s payout ratio is 29.08%.

Northrop Grumman announced that its board has authorized a stock buyback 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 shares through open market purchases. Shares buyback plans are typically a sign that the company’s board believes its stock is undervalued.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. Barclays cut their target price on Northrop Grumman from $550.00 to $500.00 and set an “equal weight” rating for the company in a research report on Monday, January 6th. StockNews.com raised shares of Northrop Grumman from a “buy” rating to a “strong-buy” rating in a report on Sunday, January 19th. Wells Fargo & Company lowered their target price on shares of Northrop Grumman from $595.00 to $574.00 and set an “overweight” rating on the stock in a report on Friday. Citigroup raised shares of Northrop Grumman from a “neutral” rating to a “buy” rating and set a $587.00 target price for the company in a research note on Tuesday, January 21st. Finally, TD Cowen upgraded shares of Northrop Grumman to a “hold” rating in a research note on Tuesday, October 8th. Eight analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $544.31.

Insider Buying and Selling

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 transaction, the vice president now owns 537 shares of the company’s stock, valued at $286,183.41. This trade represents a 68.28 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In the last three months, insiders sold 1,255 shares of company stock valued at $663,859. Insiders own 0.22% of the company’s stock.

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.