Virtu Financial LLC Has $1.21 Million Position in Northrop Grumman Co. (NYSE:NOC)

Virtu Financial LLC trimmed its position in Northrop Grumman Co. (NYSE:NOC - Free Report) by 68.9% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,286 shares of the aerospace company's stock after selling 5,062 shares during the quarter. Virtu Financial LLC's holdings in Northrop Grumman were worth $1,207,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. RPg Family Wealth Advisory LLC bought a new position in Northrop Grumman in the third quarter worth about $31,000. Meeder Asset Management Inc. lifted its holdings in shares of Northrop Grumman by 245.5% in the 2nd quarter. Meeder Asset Management Inc. now owns 76 shares of the aerospace company's stock worth $33,000 after purchasing an additional 54 shares during the last quarter. FSA Wealth Management LLC acquired a new position in Northrop Grumman during the 3rd quarter valued at approximately $36,000. Catalyst Capital Advisors LLC bought a new position in Northrop Grumman during the 3rd quarter worth $40,000. Finally, Strategic Financial Concepts LLC acquired a new stake in Northrop Grumman in the second quarter worth $47,000. 83.40% of the stock is owned by institutional investors and hedge funds.

Northrop Grumman Price Performance

NYSE:NOC traded down $1.51 during mid-day trading on Friday, reaching $480.00. 699,634 shares of the stock were exchanged, compared to its average volume of 861,732. Northrop Grumman Co. has a 1-year low of $418.60 and a 1-year high of $555.57. 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 firm has a market capitalization of $69.94 billion, a PE ratio of 29.74, a PEG ratio of 0.96 and a beta of 0.33. The business has a fifty day moving average price of $506.77 and a 200 day moving average price of $487.97.

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

Northrop Grumman announced that its Board of Directors has approved a share buyback program on Wednesday, December 11th that allows the company to buyback $3.00 billion in shares. This buyback authorization allows the aerospace company to purchase up to 4.3% of its stock through open market purchases. Stock buyback programs are often a sign that the company's management believes its stock is undervalued.

Northrop Grumman Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 18th. Investors of record on Monday, December 2nd will be given a $2.06 dividend. The ex-dividend date is Monday, December 2nd. This represents a $8.24 dividend on an annualized basis and a dividend yield of 1.72%. Northrop Grumman's dividend payout ratio (DPR) is 51.05%.

Insider Buying and Selling

In other news, VP Benjamin R. Davies sold 1,156 shares of the stock in a transaction on Monday, November 11th. The stock was sold at an average price of $532.93, for a total value of $616,067.08. Following the completion of the sale, the vice president now owns 537 shares in the company, valued at $286,183.41. This represents a 68.28 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In the last quarter, insiders have sold 1,255 shares of company stock valued at $666,461. 0.22% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the stock. UBS Group boosted their price target on shares of Northrop Grumman from $614.00 to $643.00 and gave the company a "buy" rating in a report on Friday, October 25th. StockNews.com lowered shares of Northrop Grumman from a "strong-buy" rating to a "buy" rating in a research note on Saturday. Susquehanna raised their price target on shares of Northrop Grumman from $560.00 to $625.00 and gave the company a "positive" rating in a research note on Friday, October 25th. Citigroup boosted their price objective on Northrop Grumman from $521.00 to $587.00 and gave the stock a "neutral" rating in a research report on Thursday, October 10th. Finally, TD Cowen raised Northrop Grumman to a "hold" rating in a report on Tuesday, October 8th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $546.81.

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.