Northrop Grumman Co. (NYSE:NOC) Shares Sold by Cornell Pochily Investment Advisors Inc.

Cornell Pochily Investment Advisors Inc. reduced its stake in Northrop Grumman Co. (NYSE:NOC) by 1.8% during the 4th quarter, HoldingsChannel reports. The firm owned 2,102 shares of the aerospace company’s stock after selling 39 shares during the period. Cornell Pochily Investment Advisors Inc.’s holdings in Northrop Grumman were worth $986,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also modified their holdings of the stock. RPg Family Wealth Advisory LLC purchased a new position in Northrop Grumman in the 3rd quarter valued at $31,000. Albion Financial Group UT acquired a new stake in shares of Northrop Grumman in the 4th quarter worth $33,000. FSA Wealth Management LLC acquired a new stake in shares of Northrop Grumman in the 3rd quarter worth $36,000. Modus Advisors LLC purchased a new stake in shares of Northrop Grumman in the fourth quarter valued at about $38,000. Finally, Catalyst Capital Advisors LLC acquired a new position in shares of Northrop Grumman during the third quarter worth about $40,000. Institutional investors and hedge funds own 83.40% of the company’s stock.

Northrop Grumman Stock Performance

Shares of NYSE NOC opened at $497.13 on Monday. The company has a 50-day simple moving average of $478.66 and a 200-day simple moving average of $496.86. The company has a debt-to-equity ratio of 1.00, a current ratio of 1.09 and a quick ratio of 0.97. The company has a market cap of $72.43 billion, a PE ratio of 30.80, a price-to-earnings-growth ratio of 0.95 and a beta of 0.35. Northrop Grumman Co. has a 12 month low of $418.60 and a 12 month high of $555.57.

Northrop Grumman (NYSE:NOC) last released its earnings results on Thursday, October 24th. The aerospace company reported $7.00 EPS for the quarter, topping the consensus estimate of $6.07 by $0.93. Northrop Grumman had a net margin of 5.79% and a return on equity of 26.57%. The firm had revenue of $10 billion during the quarter, compared to analysts’ expectations of $10.18 billion. During the same period in the previous year, the company earned $6.18 EPS. Northrop Grumman’s revenue for the quarter was up 2.3% on a year-over-year basis. On average, equities analysts anticipate that Northrop Grumman Co. will post 25.96 earnings per share for the current year.

Northrop Grumman Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, December 18th. Investors of record on Monday, December 2nd were paid a $2.06 dividend. The ex-dividend date of this dividend was Monday, December 2nd. This represents a $8.24 annualized dividend and a yield of 1.66%. Northrop Grumman’s payout ratio is currently 51.05%.

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

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. Barclays lowered their price objective on Northrop Grumman from $550.00 to $500.00 and set an “equal weight” rating on the stock in a report on Monday, January 6th. UBS Group lifted their price target on Northrop Grumman from $614.00 to $643.00 and gave the company a “buy” rating in a research note on Friday, October 25th. JPMorgan Chase & Co. increased their price objective on Northrop Grumman from $500.00 to $560.00 and gave the stock a “neutral” rating in a research report on Monday, October 14th. Susquehanna decreased their target price on shares of Northrop Grumman from $625.00 to $557.00 and set a “positive” rating on the stock in a research report on Wednesday, January 8th. Finally, Royal Bank of Canada increased 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. Eight equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $550.94.

Insider Buying and Selling

In related news, VP Benjamin R. Davies sold 1,156 shares of the company’s stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $532.93, for a total transaction of $616,067.08. Following the completion of the transaction, the vice president now owns 537 shares of the company’s stock, valued at approximately $286,183.41. This represents a 68.28 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Over the last ninety days, insiders have sold 1,255 shares of company stock worth $663,859. 0.22% of the stock is owned by company insiders.

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.