Snider Financial Group Purchases New Holdings in Northrop Grumman Co. (NYSE:NOC)

Snider Financial Group purchased a new stake in Northrop Grumman Co. (NYSE:NOC - Free Report) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 1,111 shares of the aerospace company's stock, valued at approximately $521,000.

A number of other large investors have also recently bought and sold shares of the stock. RPg Family Wealth Advisory LLC acquired a new position in Northrop Grumman in the third quarter worth $31,000. Whipplewood Advisors LLC acquired a new position in Northrop Grumman in the fourth quarter worth $31,000. Albion Financial Group UT acquired a new position in Northrop Grumman in the fourth quarter worth $33,000. FSA Wealth Management LLC acquired a new position in Northrop Grumman in the third quarter worth $36,000. Finally, Modus Advisors LLC acquired a new position in Northrop Grumman in the fourth quarter worth $38,000. 83.40% of the stock is currently owned by institutional investors.

Northrop Grumman Trading Up 2.5 %

Shares of Northrop Grumman stock traded up $12.02 during trading hours on Friday, hitting $487.22. The company's stock had a trading volume of 1,027,141 shares, compared to its average volume of 996,657. Northrop Grumman Co. has a 12 month low of $418.60 and a 12 month high of $555.57. The stock has a 50 day moving average of $469.88 and a 200 day moving average of $495.20. The company has a market capitalization of $70.53 billion, a PE ratio of 17.19, a price-to-earnings-growth ratio of 3.73 and a beta of 0.31. The company has a debt-to-equity ratio of 0.96, a current ratio of 1.01 and a quick ratio of 0.91.

Remove Ads

Northrop Grumman (NYSE:NOC - Get Free Report) last announced 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 return on equity of 26.24% and a net margin of 10.17%. Analysts predict that Northrop Grumman Co. will post 28.05 earnings per share for the current year.

Northrop Grumman Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, March 19th. Shareholders of record on Monday, March 3rd will be issued a $2.06 dividend. The ex-dividend date is Monday, March 3rd. This represents a $8.24 annualized dividend and a dividend yield of 1.69%. Northrop Grumman's dividend payout ratio (DPR) is currently 29.08%.

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

Analysts Set New Price Targets

A number of research firms have commented on NOC. Argus raised Northrop Grumman to a "strong-buy" rating in a research note on Wednesday, February 26th. Wolfe Research raised Northrop Grumman from an "underperform" rating to a "peer perform" rating in a research note on Monday, February 3rd. Citigroup upped their price target on Northrop Grumman from $587.00 to $591.00 and gave the company a "buy" rating in a research note on Monday, February 10th. Barclays cut their price target on Northrop Grumman from $550.00 to $500.00 and set an "equal weight" rating on the stock in a research note on Monday, January 6th. Finally, UBS Group cut their price target on Northrop Grumman from $579.00 to $558.00 and set a "buy" rating on the stock in a research note on Friday, January 31st. Nine analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $542.88.

Insiders Place Their Bets

In related news, VP Benjamin R. Davies sold 464 shares of the stock in a transaction dated Friday, February 28th. The stock was sold at an average price of $460.75, for a total transaction of $213,788.00. Following the completion of the transaction, the vice president now directly owns 245 shares in the company, valued at approximately $112,883.75. This trade represents a 65.44 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Kathy J. Warden sold 3,750 shares of the stock in a transaction dated Thursday, March 6th. The stock was 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 of the company's stock, valued at approximately $101,243,053.80. The trade was a 1.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 4,505 shares of company stock worth $2,126,405 over the last ninety days. 0.22% of the stock is currently owned by corporate insiders.

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.