Summit Global Investments Buys 16,525 Shares of Northrop Grumman Co. (NYSE:NOC)

Summit Global Investments grew its stake in Northrop Grumman Co. (NYSE:NOC) by 972.6% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 18,224 shares of the aerospace company’s stock after purchasing an additional 16,525 shares during the quarter. Summit Global Investments’ holdings in Northrop Grumman were worth $8,552,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. RPg Family Wealth Advisory LLC bought a new position in Northrop Grumman in the 3rd quarter worth $31,000. Whipplewood Advisors LLC bought a new position in Northrop Grumman in the 4th quarter worth $31,000. FSA Wealth Management LLC bought a new position in Northrop Grumman in the 3rd quarter worth $36,000. Albion Financial Group UT bought a new position in Northrop Grumman in the 4th quarter worth $33,000. Finally, Modus Advisors LLC bought a new position in Northrop Grumman in the 4th quarter worth $38,000. 83.40% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Northrop Grumman

In other news, CEO Kathy J. Warden sold 3,750 shares of the stock in a transaction that occurred on Thursday, March 6th. The shares were sold at an average price of $475.65, for a total value of $1,783,687.50. Following the transaction, the chief executive officer now owns 212,852 shares in the company, valued at $101,243,053.80. This represents a 1.73 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Benjamin R. Davies sold 192 shares of the stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $429.08, for a total transaction of $82,383.36. Following the completion of the transaction, the vice president now owns 709 shares in the company, valued at $304,217.72. This trade represents a 21.31 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 4,505 shares of company stock worth $2,126,405. Company insiders own 0.22% of the company’s stock.

Northrop Grumman Price Performance

NOC opened at $492.25 on Friday. 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 stock has a market capitalization of $71.26 billion, a P/E ratio of 17.37, a P/E/G ratio of 3.73 and a beta of 0.31. The company’s 50-day simple moving average is $475.18 and its two-hundred day simple moving average is $493.53. Northrop Grumman Co. has a 52-week low of $418.60 and a 52-week high of $555.57.

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, beating 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%. As a group, analysts predict that Northrop Grumman Co. will post 28.05 EPS for the current year.

Northrop Grumman declared that its Board of Directors has authorized a stock buyback program on Wednesday, December 11th that allows the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization allows the aerospace company to buy up to 4.3% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s leadership believes its shares are undervalued.

Northrop Grumman Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 19th. Shareholders of record on Monday, March 3rd were paid a dividend of $2.06 per share. This represents a $8.24 annualized dividend and a yield of 1.67%. The ex-dividend date of this dividend was Monday, March 3rd. Northrop Grumman’s dividend payout ratio is currently 29.08%.

Analyst Ratings Changes

Several research analysts have commented on the stock. Argus upgraded shares of Northrop Grumman to a “strong-buy” rating in a report on Wednesday, February 26th. Barclays reduced their target price on shares of Northrop Grumman from $550.00 to $500.00 and set an “equal weight” rating on the stock in a research report on Monday, January 6th. StockNews.com downgraded shares of Northrop Grumman from a “strong-buy” rating to a “buy” rating in a research report on Monday, February 3rd. Citigroup upped their target price on shares of Northrop Grumman from $587.00 to $591.00 and gave the stock a “buy” rating in a research report on Monday, February 10th. Finally, Wolfe Research raised shares of Northrop Grumman from an “underperform” rating to a “peer perform” rating in a research report on Monday, February 3rd. Nine investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Northrop Grumman has a consensus rating of “Moderate Buy” and a consensus price target of $542.88.

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.