Intact Investment Management Inc. trimmed its stake in shares of Northrop Grumman Co. (NYSE:NOC - Free Report) by 18.2% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 9,900 shares of the aerospace company's stock after selling 2,210 shares during the quarter. Intact Investment Management Inc.'s holdings in Northrop Grumman were worth $4,646,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds also recently added to or reduced their stakes in the stock. Meeder Advisory Services Inc. lifted its position in Northrop Grumman by 0.9% during the 3rd quarter. Meeder Advisory Services Inc. now owns 2,288 shares of the aerospace company's stock worth $1,208,000 after acquiring an additional 20 shares during the period. Thompson Siegel & Walmsley LLC lifted its position in Northrop Grumman by 0.3% during the 3rd quarter. Thompson Siegel & Walmsley LLC now owns 8,320 shares of the aerospace company's stock worth $4,394,000 after acquiring an additional 21 shares during the period. Sapient Capital LLC lifted its position in Northrop Grumman by 1.1% during the 4th quarter. Sapient Capital LLC now owns 2,049 shares of the aerospace company's stock worth $962,000 after acquiring an additional 22 shares during the period. Bank Pictet & Cie Europe AG lifted its position in Northrop Grumman by 2.2% during the 4th quarter. Bank Pictet & Cie Europe AG now owns 1,006 shares of the aerospace company's stock worth $472,000 after acquiring an additional 22 shares during the period. Finally, Mather Group LLC. lifted its holdings in shares of Northrop Grumman by 2.6% in the 4th quarter. Mather Group LLC. now owns 900 shares of the aerospace company's stock valued at $422,000 after buying an additional 23 shares during the period. 83.40% of the stock is owned by institutional investors and hedge funds.
Insider Activity
In other news, 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 sale, the vice president now directly owns 709 shares in the company, valued at approximately $304,217.72. This represents a 21.31 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Kathy J. Warden sold 3,750 shares of the stock in a transaction that occurred on 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 sale, the chief executive officer now owns 212,852 shares in the company, valued at $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. Over the last ninety days, insiders sold 4,505 shares of company stock valued at $2,126,405. 0.22% of the stock is currently owned by insiders.
Northrop Grumman Price Performance
Northrop Grumman stock traded up $1.75 during mid-day trading on Wednesday, hitting $491.56. 846,750 shares of the company were exchanged, compared to its average volume of 824,328. The company has a debt-to-equity ratio of 0.96, a current ratio of 1.01 and a quick ratio of 0.91. Northrop Grumman Co. has a 12-month low of $418.60 and a 12-month high of $555.57. The business's 50 day simple moving average is $473.40 and its two-hundred day simple moving average is $493.79. The company has a market capitalization of $71.16 billion, a P/E ratio of 17.35, a PEG ratio of 3.73 and a beta of 0.31.
Northrop Grumman (NYSE:NOC - Get Free Report) last announced its quarterly earnings data on Thursday, January 30th. The aerospace company reported $6.39 earnings per share for the quarter, beating 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 forecast that Northrop Grumman Co. will post 28.05 earnings per share for the current fiscal year.
Northrop Grumman announced that its board has approved a stock repurchase plan on Wednesday, December 11th that allows the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization allows the aerospace company to repurchase up to 4.3% of its stock through open market purchases. Stock repurchase plans are often an indication that the company's board of directors believes its shares are undervalued.
Northrop Grumman Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 19th. Investors of record on Monday, March 3rd will be issued a $2.06 dividend. This represents a $8.24 annualized dividend and a yield of 1.68%. The ex-dividend date is Monday, March 3rd. Northrop Grumman's dividend payout ratio is currently 29.08%.
Wall Street Analysts Forecast Growth
Several analysts have recently commented on NOC shares. Argus raised Northrop Grumman to a "strong-buy" rating in a report on Wednesday, February 26th. Wolfe Research raised Northrop Grumman from an "underperform" rating to a "peer perform" rating in a report on Monday, February 3rd. UBS Group dropped their price objective on Northrop Grumman from $579.00 to $558.00 and set a "buy" rating for the company in a research note on Friday, January 31st. Susquehanna dropped their price objective on Northrop Grumman from $625.00 to $557.00 and set a "positive" rating for the company in a research note on Wednesday, January 8th. Finally, Citigroup raised their price objective on Northrop Grumman from $587.00 to $591.00 and gave the company a "buy" rating in a research note on Monday, February 10th. 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 stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $542.88.
Check Out Our Latest Stock Analysis on Northrop Grumman
Northrop Grumman Company Profile
(
Free Report)
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.
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