Smith Salley Wealth Management Lowers Holdings in Northrop Grumman Co. (NYSE:NOC)

Smith Salley Wealth Management trimmed its stake in Northrop Grumman Co. (NYSE:NOC - Free Report) by 11.6% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 21,149 shares of the aerospace company's stock after selling 2,767 shares during the period. Smith Salley Wealth Management's holdings in Northrop Grumman were worth $9,925,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Ameritas Advisory Services LLC increased its position in Northrop Grumman by 154.6% in the fourth quarter. Ameritas Advisory Services LLC now owns 1,683 shares of the aerospace company's stock worth $790,000 after buying an additional 1,022 shares in the last quarter. Premier Path Wealth Partners LLC grew its stake in shares of Northrop Grumman by 12.6% during the 4th quarter. Premier Path Wealth Partners LLC now owns 936 shares of the aerospace company's stock valued at $439,000 after acquiring an additional 105 shares during the period. Sanibel Captiva Trust Company Inc. grew its stake in shares of Northrop Grumman by 1.3% during the 4th quarter. Sanibel Captiva Trust Company Inc. now owns 8,546 shares of the aerospace company's stock valued at $4,011,000 after acquiring an additional 106 shares during the period. Arkadios Wealth Advisors increased its holdings in Northrop Grumman by 11.4% in the 4th quarter. Arkadios Wealth Advisors now owns 1,893 shares of the aerospace company's stock worth $888,000 after acquiring an additional 194 shares in the last quarter. Finally, Lake Street Private Wealth LLC raised its stake in Northrop Grumman by 7.5% during the 4th quarter. Lake Street Private Wealth LLC now owns 8,348 shares of the aerospace company's stock worth $3,918,000 after acquiring an additional 581 shares during the period. 83.40% of the stock is owned by institutional investors.

Northrop Grumman Price Performance

Shares of NYSE NOC traded up $1.30 during mid-day trading on Friday, hitting $482.49. 1,091,510 shares of the company's stock traded hands, compared to its average volume of 573,523. The company has a market capitalization of $70.30 billion, a P/E ratio of 29.89, a PEG ratio of 0.87 and a beta of 0.35. Northrop Grumman Co. has a 1 year low of $418.60 and a 1 year high of $555.57. The company has a debt-to-equity ratio of 1.00, a current ratio of 1.09 and a quick ratio of 0.97. The company's 50-day moving average is $480.55 and its two-hundred day moving average is $494.10.

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

Northrop Grumman Dividend Announcement

The company also recently disclosed 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 51.05%.

Northrop Grumman announced that its Board of Directors has initiated a share buyback plan on Wednesday, December 11th that authorizes the company to buyback $3.00 billion in shares. This buyback authorization authorizes the aerospace company to purchase up to 4.3% of its shares through open market purchases. Shares buyback plans are typically a sign that the company's management believes its shares are undervalued.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on NOC. Barclays reduced their price objective on shares of Northrop Grumman from $550.00 to $500.00 and set an "equal weight" rating for the company in a research note on Monday, January 6th. Susquehanna dropped their target price on shares of Northrop Grumman from $625.00 to $557.00 and set a "positive" rating for the company in a report on Wednesday, January 8th. StockNews.com raised Northrop Grumman from a "buy" rating to a "strong-buy" rating in a report on Sunday. Citigroup upped their price objective on Northrop Grumman from $521.00 to $587.00 and gave the stock a "neutral" rating in a research note on Thursday, October 10th. Finally, TD Cowen raised Northrop Grumman to a "hold" rating in a research note on Tuesday, October 8th. Nine analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Northrop Grumman currently has an average rating of "Moderate Buy" and an average target price of $550.94.

Insider Activity

In other news, VP Benjamin R. Davies sold 1,156 shares of the company's stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $532.93, for a total transaction of $616,067.08. Following the transaction, the vice president now owns 537 shares of the company's stock, valued at approximately $286,183.41. This represents a 68.28 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Over the last quarter, insiders have sold 1,255 shares of company stock valued at $663,859. 0.22% of the stock is currently 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.