Northrop Grumman Co. (NYSE:NOC) Shares Sold by Choreo LLC

Choreo LLC cut its position in Northrop Grumman Co. (NYSE:NOC) by 1.0% during the fourth quarter, HoldingsChannel.com reports. The fund owned 5,474 shares of the aerospace company’s stock after selling 54 shares during the period. Choreo LLC’s holdings in Northrop Grumman were worth $2,559,000 at the end of the most recent reporting period.

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

Northrop Grumman Price Performance

NOC opened at $466.29 on Friday. The stock’s 50-day moving average price is $477.78 and its 200 day moving average price is $499.22. Northrop Grumman Co. has a 12-month low of $418.60 and a 12-month high of $555.57. The company has a current ratio of 1.01, a quick ratio of 0.91 and a debt-to-equity ratio of 0.96. The firm 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.

Northrop Grumman (NYSE:NOC) last posted 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 return on equity of 26.24% and a net margin of 10.17%. As a group, sell-side analysts expect that Northrop Grumman Co. will post 28.04 earnings per share for the current year.

Northrop Grumman Dividend Announcement

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

Northrop Grumman announced that its board has initiated a share repurchase plan on Wednesday, December 11th that authorizes the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization authorizes the aerospace company to buy up to 4.3% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board of directors believes its shares are undervalued.

Wall Street Analyst Weigh In

NOC has been the subject of several analyst reports. Royal Bank of Canada upped their target price on Northrop Grumman from $500.00 to $540.00 and gave the company a “sector perform” rating in a report on Friday, October 25th. JPMorgan Chase & Co. upped their target price on Northrop Grumman from $500.00 to $560.00 and gave the company a “neutral” rating in a report on Monday, October 14th. Citigroup upgraded Northrop Grumman from a “neutral” rating to a “buy” rating and set a $587.00 target price for the company in a report on Tuesday, January 21st. Susquehanna dropped their target price on Northrop Grumman from $625.00 to $557.00 and set a “positive” rating for the company in a report on Wednesday, January 8th. Finally, Wolfe Research upgraded Northrop Grumman from an “underperform” rating to a “peer perform” rating in a report on Monday. 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, Northrop Grumman presently has a consensus rating of “Moderate Buy” and a consensus price target of $544.31.

Insider Buying and Selling at Northrop Grumman

In other Northrop Grumman news, VP Benjamin R. Davies sold 1,156 shares of the stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $532.93, for a total value of $616,067.08. Following the sale, 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 document filed with the Securities & Exchange Commission, which is available at this link. Insiders have sold 1,255 shares of company stock valued at $662,868 in the last quarter. Corporate 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.