Westside Investment Management Inc. Decreases Stake in Northrop Grumman Co. (NYSE:NOC)

Westside Investment Management Inc. lessened its holdings in shares of Northrop Grumman Co. (NYSE:NOC - Free Report) by 11.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 8,760 shares of the aerospace company's stock after selling 1,157 shares during the quarter. Northrop Grumman comprises 0.9% of Westside Investment Management Inc.'s portfolio, making the stock its 29th biggest holding. Westside Investment Management Inc.'s holdings in Northrop Grumman were worth $4,111,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in NOC. Wellington Management Group LLP lifted its position in shares of Northrop Grumman by 0.4% in the third quarter. Wellington Management Group LLP now owns 4,140,892 shares of the aerospace company's stock worth $2,186,681,000 after buying an additional 17,596 shares in the last quarter. Geode Capital Management LLC increased its stake in Northrop Grumman by 0.6% in the 3rd quarter. Geode Capital Management LLC now owns 3,003,360 shares of the aerospace company's stock worth $1,581,644,000 after acquiring an additional 18,791 shares during the last quarter. Franklin Resources Inc. raised its holdings in shares of Northrop Grumman by 6.2% during the 3rd quarter. Franklin Resources Inc. now owns 2,426,270 shares of the aerospace company's stock worth $1,315,729,000 after acquiring an additional 141,816 shares in the last quarter. Legal & General Group Plc raised its holdings in shares of Northrop Grumman by 16.0% during the 2nd quarter. Legal & General Group Plc now owns 1,087,913 shares of the aerospace company's stock worth $474,276,000 after acquiring an additional 150,367 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of Northrop Grumman by 0.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 809,445 shares of the aerospace company's stock valued at $427,444,000 after acquiring an additional 3,211 shares during the last quarter. 83.40% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, VP Benjamin R. Davies sold 1,156 shares of the business's stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $532.93, for a total transaction of $616,067.08. Following the transaction, the vice president now directly owns 537 shares in the company, valued at approximately $286,183.41. The trade was a 68.28 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders have sold 1,255 shares of company stock worth $663,859 in the last quarter. Corporate insiders own 0.22% of the company's stock.

Northrop Grumman Stock Performance

NYSE NOC traded down $2.85 on Thursday, hitting $499.56. 780,177 shares of the company's stock traded hands, compared to its average volume of 853,513. 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's 50-day moving average price is $478.61 and its two-hundred day moving average price is $495.36. Northrop Grumman Co. has a 1-year low of $418.60 and a 1-year high of $555.57. The firm has a market capitalization of $72.79 billion, a PE ratio of 30.95, a P/E/G ratio of 0.95 and a beta of 0.35.

Northrop Grumman (NYSE:NOC - Get Free Report) last announced its quarterly earnings results on Thursday, October 24th. The aerospace company reported $7.00 earnings per share for the quarter, beating the consensus estimate of $6.07 by $0.93. The company had revenue of $10 billion during the quarter, compared to analysts' expectations of $10.18 billion. Northrop Grumman had a return on equity of 26.57% and a net margin of 5.79%. Northrop Grumman's quarterly revenue was up 2.3% on a year-over-year basis. During the same period last year, the business earned $6.18 earnings per share. As a group, analysts expect that Northrop Grumman Co. will post 25.95 EPS for the current year.

Northrop Grumman declared that its board has approved a share repurchase plan on Wednesday, December 11th that allows the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization allows the aerospace company to repurchase up to 4.3% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company's board believes its stock is undervalued.

Northrop Grumman Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, December 18th. Stockholders of record on Monday, December 2nd were paid a dividend of $2.06 per share. This represents a $8.24 annualized dividend and a dividend yield of 1.65%. The ex-dividend date was Monday, December 2nd. Northrop Grumman's payout ratio is 51.05%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on NOC shares. JPMorgan Chase & Co. upped their price objective on Northrop Grumman from $500.00 to $560.00 and gave the company a "neutral" rating in a research report on Monday, October 14th. Barclays dropped their price target 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. TD Cowen raised shares of Northrop Grumman to a "hold" rating in a research note on Tuesday, October 8th. UBS Group upped their target price on Northrop Grumman from $614.00 to $643.00 and gave the company a "buy" rating in a research note on Friday, October 25th. Finally, Royal Bank of Canada increased their price target on Northrop Grumman from $500.00 to $540.00 and gave the stock a "sector perform" rating in a report on Friday, October 25th. Eight investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $550.94.

Northrop Grumman 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.