Commonwealth Equity Services LLC Reduces Stock Position in Northrop Grumman Co. (NYSE:NOC)

Commonwealth Equity Services LLC trimmed its position in shares of Northrop Grumman Co. (NYSE:NOC - Free Report) by 3.0% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 82,377 shares of the aerospace company's stock after selling 2,576 shares during the period. Commonwealth Equity Services LLC owned about 0.06% of Northrop Grumman worth $38,659,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. RPg Family Wealth Advisory LLC purchased a new stake in shares of Northrop Grumman during the third quarter worth approximately $31,000. Whipplewood Advisors LLC purchased a new position in Northrop Grumman in the fourth quarter valued at approximately $31,000. Albion Financial Group UT purchased a new position in Northrop Grumman in the fourth quarter valued at approximately $33,000. FSA Wealth Management LLC purchased a new position in Northrop Grumman in the third quarter valued at approximately $36,000. Finally, Modus Advisors LLC purchased a new position in Northrop Grumman in the fourth quarter valued at approximately $38,000. 83.40% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. Citigroup increased their price target on shares of Northrop Grumman from $587.00 to $591.00 and gave the company a "buy" rating in a research note on Monday, February 10th. UBS Group dropped their price target on shares of Northrop Grumman from $579.00 to $558.00 and set a "buy" rating on the stock in a research note on Friday, January 31st. StockNews.com lowered shares of Northrop Grumman from a "strong-buy" rating to a "buy" rating in a research note on Monday, February 3rd. Barclays lowered their target price on shares of 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. Finally, Argus upgraded shares of Northrop Grumman to a "strong-buy" rating in a research report on Wednesday, February 26th. Nine analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $542.88.

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Northrop Grumman Stock Performance

Shares of NYSE NOC 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 1,020,280. Northrop Grumman Co. has a 1-year low of $418.60 and a 1-year high of $555.57. The company has a quick ratio of 0.91, a current ratio of 1.01 and a debt-to-equity ratio of 0.96. The stock has a 50 day simple moving average of $473.40 and a 200-day simple moving average of $493.79. The firm has a market cap of $71.16 billion, a price-to-earnings ratio of 17.35, a price-to-earnings-growth ratio of 3.73 and a beta of 0.31.

Northrop Grumman (NYSE:NOC - Get Free Report) last released its earnings results on Thursday, January 30th. The aerospace company reported $6.39 EPS for the quarter, beating 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%. On average, sell-side analysts forecast that Northrop Grumman Co. will post 28.05 EPS for the current fiscal year.

Northrop Grumman Dividend Announcement

The firm also recently announced 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. This represents a $8.24 dividend on an annualized basis and a yield of 1.68%. The ex-dividend date is Monday, March 3rd. Northrop Grumman's dividend payout ratio (DPR) is currently 29.08%.

Northrop Grumman declared that its board has initiated a stock 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 reacquire up to 4.3% of its shares through open market purchases. Shares buyback programs are often a sign that the company's leadership believes its stock is undervalued.

Insider Buying and Selling at Northrop Grumman

In other news, VP Benjamin R. Davies sold 464 shares of Northrop Grumman stock in a transaction on 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 owns 245 shares of the company's stock, valued at $112,883.75. The trade was a 65.44 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Kathy J. Warden sold 3,750 shares of Northrop Grumman stock in a transaction 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 transaction, the chief executive officer now directly owns 212,852 shares of the company's stock, valued at $101,243,053.80. This trade represents a 1.73 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 4,505 shares of company stock valued at $2,126,405. 0.22% of the stock is owned by company insiders.

Northrop Grumman Company 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.