AlphaQuest LLC Has $1.77 Million Position in Northrop Grumman Co. (NYSE:NOC)

AlphaQuest LLC boosted its position in Northrop Grumman Co. (NYSE:NOC - Free Report) by 59.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,774 shares of the aerospace company's stock after buying an additional 1,403 shares during the quarter. AlphaQuest LLC's holdings in Northrop Grumman were worth $1,771,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Concurrent Investment Advisors LLC lifted its stake in Northrop Grumman by 9.3% during the third quarter. Concurrent Investment Advisors LLC now owns 2,026 shares of the aerospace company's stock worth $1,070,000 after purchasing an additional 173 shares during the last quarter. Principal Financial Group Inc. lifted its position in shares of Northrop Grumman by 3.1% in the 3rd quarter. Principal Financial Group Inc. now owns 166,434 shares of the aerospace company's stock worth $87,889,000 after buying an additional 4,969 shares during the last quarter. Kornitzer Capital Management Inc. KS boosted its holdings in shares of Northrop Grumman by 7.1% in the 3rd quarter. Kornitzer Capital Management Inc. KS now owns 2,099 shares of the aerospace company's stock valued at $1,108,000 after buying an additional 140 shares during the period. Portside Wealth Group LLC acquired a new stake in Northrop Grumman during the third quarter worth about $974,000. Finally, TFB Advisors LLC acquired a new stake in Northrop Grumman during the third quarter worth about $202,000. Institutional investors and hedge funds own 83.40% of the company's stock.

Insider Activity

In other Northrop Grumman news, VP Benjamin R. Davies sold 464 shares of the firm's 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 sale, 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 position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Kathy J. Warden sold 3,750 shares of the company's stock in a transaction dated 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 completion of 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 disclosure for this sale can be found here. Insiders have sold 4,505 shares of company stock worth $2,126,405 over the last 90 days. 0.22% of the stock is owned by company insiders.

Remove Ads

Northrop Grumman Price Performance

Shares of NYSE NOC traded up $16.10 during trading on Thursday, hitting $491.20. The company had a trading volume of 1,330,480 shares, compared to its average volume of 821,795. Northrop Grumman Co. has a 52 week low of $418.60 and a 52 week high of $555.57. The business's 50-day moving average is $471.10 and its 200 day moving average is $494.70. The company has a market cap of $71.10 billion, a P/E ratio of 17.33, a PEG ratio of 3.73 and a beta of 0.31. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.91 and a current ratio of 1.01.

Northrop Grumman (NYSE:NOC - Get Free Report) last announced its earnings results on Thursday, January 30th. The aerospace company reported $6.39 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $6.27 by $0.12. Northrop Grumman had a return on equity of 26.24% and a net margin of 10.17%. Equities research analysts predict that Northrop Grumman Co. will post 28.05 earnings per share for the current fiscal year.

Northrop Grumman declared that its board has authorized a stock buyback 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 stock through open market purchases. Stock repurchase plans are generally an indication that the company's board believes its shares are undervalued.

Northrop Grumman Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 19th. Stockholders of record on Monday, March 3rd will be given a $2.06 dividend. This represents a $8.24 annualized dividend and a dividend yield of 1.68%. The ex-dividend date of this dividend is Monday, March 3rd. Northrop Grumman's dividend payout ratio (DPR) is currently 29.08%.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on NOC shares. Barclays dropped their price target on 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. UBS Group cut their target price 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. Argus upgraded shares of Northrop Grumman to a "strong-buy" rating in a research report on Wednesday, February 26th. Susquehanna reduced their price target on Northrop Grumman from $625.00 to $557.00 and set a "positive" rating for the company in a research report on Wednesday, January 8th. Finally, Wells Fargo & Company increased their price target on Northrop Grumman from $545.00 to $547.00 and gave the stock an "overweight" rating in a research note on Friday, March 7th. Nine equities research 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. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $542.88.

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.