Pictet Asset Management Holding SA Sells 2,746 Shares of Northrop Grumman Co. (NYSE:NOC)

Pictet Asset Management Holding SA decreased its holdings in Northrop Grumman Co. (NYSE:NOC - Free Report) by 5.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 44,669 shares of the aerospace company's stock after selling 2,746 shares during the period. Pictet Asset Management Holding SA's holdings in Northrop Grumman were worth $20,963,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in NOC. Whipplewood Advisors LLC bought a new stake in Northrop Grumman during the 4th quarter valued at $31,000. Albion Financial Group UT bought a new stake in shares of Northrop Grumman in the fourth quarter valued at about $33,000. FSA Wealth Management LLC purchased a new stake in Northrop Grumman in the third quarter worth about $36,000. Modus Advisors LLC bought a new position in Northrop Grumman during the 4th quarter worth about $38,000. Finally, Stonebridge Financial Group LLC bought a new position in Northrop Grumman during the 4th quarter worth about $42,000. 83.40% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on NOC shares. Citigroup upped their price objective on Northrop Grumman from $587.00 to $591.00 and gave the stock a "buy" rating in a research note on Monday, February 10th. Barclays cut their price objective 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. Wolfe Research raised shares of Northrop Grumman from an "underperform" rating to a "peer perform" rating in a research report on Monday, February 3rd. Royal Bank of Canada raised shares of Northrop Grumman from a "sector perform" rating to an "outperform" rating and lifted their price target for the stock from $500.00 to $575.00 in a report on Thursday, March 27th. Finally, Susquehanna decreased their price objective on Northrop Grumman from $625.00 to $557.00 and set a "positive" rating for the company in a report on Wednesday, January 8th. Eight research analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Northrop Grumman presently has an average rating of "Moderate Buy" and a consensus price target of $545.06.

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Northrop Grumman Stock Performance

NYSE:NOC traded down $0.94 during trading hours on Wednesday, reaching $512.16. 749,699 shares of the stock were exchanged, compared to its average volume of 866,567. The stock has a market capitalization of $74.14 billion, a P/E ratio of 18.07, a P/E/G ratio of 3.73 and a beta of 0.31. Northrop Grumman Co. has a 52 week low of $418.60 and a 52 week high of $555.57. The firm has a 50 day simple moving average of $478.97 and a 200-day simple moving average of $492.59. The company has a quick ratio of 0.91, a current ratio of 1.01 and a debt-to-equity ratio of 0.96.

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 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%. As a group, sell-side analysts forecast that Northrop Grumman Co. will post 28.05 earnings per share for the current fiscal year.

Northrop Grumman Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 19th. Shareholders of record on Monday, March 3rd were issued a $2.06 dividend. This represents a $8.24 annualized dividend and a dividend yield of 1.61%. The ex-dividend date of this dividend was Monday, March 3rd. Northrop Grumman's payout ratio is 29.08%.

Northrop Grumman declared that its board has authorized 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 buy up to 4.3% of its shares through open market purchases. Shares buyback programs are generally an indication that the company's board of directors believes its shares are undervalued.

Insider Transactions at Northrop Grumman

In related news, 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 completion of the sale, the chief executive officer now directly owns 212,852 shares of the company's stock, valued at approximately $101,243,053.80. This represents a 1.73 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, 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 completion of the sale, the vice president now directly owns 709 shares of the company's stock, valued at $304,217.72. This trade represents a 21.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 4,505 shares of company stock valued at $2,126,405 over the last ninety days. Corporate insiders own 0.22% of the company's stock.

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.