Northrop Grumman Co. (NYSE:NOC) Stake Lowered by D.A. Davidson & CO.

D.A. Davidson & CO. reduced its stake in shares of Northrop Grumman Co. (NYSE:NOC) by 2.1% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 8,754 shares of the aerospace company’s stock after selling 186 shares during the period. D.A. Davidson & CO.’s holdings in Northrop Grumman were worth $4,108,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Foundations Investment Advisors LLC boosted its holdings in Northrop Grumman by 1.4% in the third quarter. Foundations Investment Advisors LLC now owns 1,478 shares of the aerospace company’s stock worth $780,000 after purchasing an additional 20 shares in the last quarter. Sequoia Financial Advisors LLC boosted its holdings in Northrop Grumman by 7.2% in the third quarter. Sequoia Financial Advisors LLC now owns 2,941 shares of the aerospace company’s stock worth $1,553,000 after purchasing an additional 198 shares in the last quarter. Eastern Bank boosted its holdings in Northrop Grumman by 3.9% in the third quarter. Eastern Bank now owns 1,074 shares of the aerospace company’s stock worth $567,000 after purchasing an additional 40 shares in the last quarter. Symphony Financial Ltd. Co. bought a new stake in Northrop Grumman in the third quarter worth $213,000. Finally, Stanley Laman Group Ltd. bought a new stake in Northrop Grumman in the third quarter worth $204,000. 83.40% of the stock is currently owned by hedge funds and other institutional investors.

Northrop Grumman Stock Up 1.2 %

Shares of NOC opened at $438.46 on Friday. Northrop Grumman Co. has a 52 week low of $418.60 and a 52 week 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. The firm has a market capitalization of $63.47 billion, a P/E ratio of 15.47, a P/E/G ratio of 3.76 and a beta of 0.35. The company has a 50-day simple moving average of $471.66 and a 200-day simple moving average of $497.75.

Northrop Grumman (NYSE:NOC) last posted its quarterly 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, equities research analysts expect that Northrop Grumman Co. will post 28.05 earnings per share for the current year.

Northrop Grumman declared that its board has initiated a stock buyback program 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 shares through open market purchases. Shares repurchase programs are typically a sign that the company’s leadership believes its stock is undervalued.

Northrop Grumman Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, March 19th. Investors of record on Monday, March 3rd will be given a $2.06 dividend. This represents a $8.24 annualized dividend and a yield of 1.88%. The ex-dividend date of this dividend is Monday, March 3rd. Northrop Grumman’s dividend payout ratio (DPR) is presently 29.08%.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on NOC. Wells Fargo & Company decreased their price objective on shares of Northrop Grumman from $595.00 to $574.00 and set an “overweight” rating for the company in a report on Friday, January 31st. Wolfe Research upgraded shares of Northrop Grumman from an “underperform” rating to a “peer perform” rating in a report on Monday, February 3rd. Royal Bank of Canada upped their price target on shares of Northrop Grumman from $500.00 to $540.00 and gave the company a “sector perform” rating in a report on Friday, October 25th. Citigroup upped their price target on shares of Northrop Grumman from $587.00 to $591.00 and gave the company a “buy” rating in a report on Monday, February 10th. Finally, Barclays decreased their price target on shares of Northrop Grumman from $550.00 to $500.00 and set an “equal weight” rating for the company in a report on Monday, January 6th. Nine investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $544.56.

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.