567 Shares in Northrop Grumman Co. (NYSE:NOC) Purchased by Miracle Mile Advisors LLC

Miracle Mile Advisors LLC acquired a new position in shares of Northrop Grumman Co. (NYSE:NOC - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 567 shares of the aerospace company's stock, valued at approximately $266,000.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Y Intercept Hong Kong Ltd acquired a new stake in Northrop Grumman during the 3rd quarter worth about $604,000. Fisher Asset Management LLC lifted its stake in Northrop Grumman by 2.6% in the 3rd quarter. Fisher Asset Management LLC now owns 212,514 shares of the aerospace company's stock worth $112,222,000 after acquiring an additional 5,334 shares in the last quarter. AIA Group Ltd boosted its position in Northrop Grumman by 20.0% during the 3rd quarter. AIA Group Ltd now owns 7,458 shares of the aerospace company's stock worth $3,938,000 after acquiring an additional 1,242 shares during the period. Aviso Wealth Management increased its holdings in shares of Northrop Grumman by 110.7% in the 2nd quarter. Aviso Wealth Management now owns 1,896 shares of the aerospace company's stock valued at $827,000 after purchasing an additional 996 shares during the period. Finally, Susquehanna International Securities Ltd. purchased a new stake in shares of Northrop Grumman in the second quarter worth approximately $1,133,000. 83.40% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Northrop Grumman

In other Northrop Grumman news, VP Benjamin R. Davies sold 1,156 shares of Northrop Grumman stock in a transaction 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 directly owns 537 shares of the company's stock, valued at $286,183.41. The trade was a 68.28 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Over the last 90 days, insiders sold 1,255 shares of company stock valued at $663,859. Corporate insiders own 0.22% of the company's stock.

Northrop Grumman Price Performance

NYSE NOC traded up $1.30 on Friday, hitting $482.49. 1,091,498 shares of the company were exchanged, compared to its average volume of 775,640. Northrop Grumman Co. has a 1-year low of $418.60 and a 1-year high of $555.57. The firm has a 50 day moving average of $481.48 and a two-hundred day moving average of $493.38. The company has a current ratio of 1.09, a quick ratio of 0.97 and a debt-to-equity ratio of 1.00. The company has a market cap of $70.30 billion, a P/E ratio of 29.89, a P/E/G ratio of 0.87 and a beta of 0.35.

Northrop Grumman (NYSE:NOC - Get Free Report) last posted its quarterly earnings results on Thursday, October 24th. The aerospace company reported $7.00 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.07 by $0.93. Northrop Grumman had a return on equity of 26.57% and a net margin of 5.79%. The business had revenue of $10 billion for the quarter, compared to analysts' expectations of $10.18 billion. During the same quarter last year, the business earned $6.18 earnings per share. The firm's quarterly revenue was up 2.3% compared to the same quarter last year. On average, equities analysts predict that Northrop Grumman Co. will post 25.93 EPS for the current year.

Northrop Grumman announced that its board has authorized a share repurchase plan on Wednesday, December 11th that permits the company to buyback $3.00 billion in shares. This buyback authorization permits the aerospace company to reacquire up to 4.3% of its shares through open market purchases. Shares buyback plans are often a sign that the company's board believes its stock is undervalued.

Northrop Grumman Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, December 18th. Shareholders of record on Monday, December 2nd were given a dividend of $2.06 per share. This represents a $8.24 dividend on an annualized basis and a yield of 1.71%. The ex-dividend date of this dividend was Monday, December 2nd. Northrop Grumman's dividend payout ratio (DPR) is currently 51.05%.

Wall Street Analyst Weigh In

Several research analysts have weighed in on NOC shares. Susquehanna dropped their price objective on shares of Northrop Grumman from $625.00 to $557.00 and set a "positive" rating on the stock in a research note on Wednesday, January 8th. Citigroup lifted their price objective on Northrop Grumman from $521.00 to $587.00 and gave the stock a "neutral" rating in a report on Thursday, October 10th. Wells Fargo & Company raised shares of Northrop Grumman from an "equal weight" rating to an "overweight" rating and set a $595.00 price target for the company in a research report on Wednesday, January 8th. Royal Bank of Canada raised their price target on shares of Northrop Grumman from $500.00 to $540.00 and gave the stock a "sector perform" rating in a research note on Friday, October 25th. Finally, TD Cowen upgraded Northrop Grumman to a "hold" rating in a research note on Tuesday, October 8th. Nine equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, Northrop Grumman presently has an average rating of "Hold" and an average target price of $550.94.

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.