Verity Asset Management Inc. Sells 304 Shares of Northrop Grumman Co. (NYSE:NOC)

Verity Asset Management Inc. trimmed its holdings in Northrop Grumman Co. (NYSE:NOC) by 33.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 600 shares of the aerospace company’s stock after selling 304 shares during the period. Verity Asset Management Inc.’s holdings in Northrop Grumman were worth $280,000 as of its most recent filing with the Securities & Exchange Commission.

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

Insider Activity

In other news, VP Benjamin R. Davies sold 1,156 shares of the business’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 owns 537 shares in the company, valued at approximately $286,183.41. The trade was a 68.28 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In the last quarter, insiders sold 1,222 shares of company stock worth $647,025. 0.22% of the stock is currently owned by corporate insiders.

Northrop Grumman Trading Down 1.0 %

NOC opened at $482.79 on Wednesday. The stock has a market cap of $69.89 billion, a price-to-earnings ratio of 17.04, a P/E/G ratio of 0.91 and a beta of 0.35. The stock’s 50 day moving average price is $478.26 and its 200-day moving average price is $499.10. Northrop Grumman Co. has a one year low of $418.60 and a one year high of $555.57. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.91 and a current ratio of 1.01.

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

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

Northrop Grumman Announces Dividend

The firm also recently announced 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 dividend on an annualized basis and a yield of 1.71%. The ex-dividend date was Monday, December 2nd. Northrop Grumman’s dividend payout ratio (DPR) is 29.08%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on NOC shares. Wells Fargo & Company decreased their target price on Northrop Grumman from $595.00 to $574.00 and set an “overweight” rating on the stock in a research report on Friday, January 31st. UBS Group decreased their target price on Northrop Grumman from $579.00 to $558.00 and set a “buy” rating on the stock in a research report on Friday, January 31st. JPMorgan Chase & Co. boosted their target price on Northrop Grumman from $500.00 to $560.00 and gave the stock a “neutral” rating in a research report on Monday, October 14th. Wolfe Research upgraded Northrop Grumman from an “underperform” rating to a “peer perform” rating in a research report on Monday. Finally, TD Cowen upgraded Northrop Grumman to a “hold” rating in a research report on Tuesday, October 8th. Nine equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $544.31.

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.