Quadrant Capital Group LLC Sells 35 Shares of Northrop Grumman Co. (NYSE:NOC)

Quadrant Capital Group LLC cut its stake in shares of Northrop Grumman Co. (NYSE:NOC) by 2.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,394 shares of the aerospace company’s stock after selling 35 shares during the quarter. Quadrant Capital Group LLC’s holdings in Northrop Grumman were worth $654,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of NOC. Kovitz Investment Group Partners LLC raised its position in Northrop Grumman by 111.4% during the 3rd quarter. Kovitz Investment Group Partners LLC now owns 9,419 shares of the aerospace company’s stock valued at $4,974,000 after purchasing an additional 4,964 shares in the last quarter. Insigneo Advisory Services LLC raised its holdings in shares of Northrop Grumman by 26.3% in the third quarter. Insigneo Advisory Services LLC now owns 1,732 shares of the aerospace company’s stock valued at $914,000 after acquiring an additional 361 shares in the last quarter. EP Wealth Advisors LLC lifted its stake in Northrop Grumman by 6.0% in the third quarter. EP Wealth Advisors LLC now owns 19,433 shares of the aerospace company’s stock worth $10,262,000 after acquiring an additional 1,095 shares during the period. National Bank of Canada FI grew its holdings in Northrop Grumman by 154.7% during the 3rd quarter. National Bank of Canada FI now owns 157,601 shares of the aerospace company’s stock worth $83,224,000 after acquiring an additional 95,724 shares in the last quarter. Finally, MML Investors Services LLC increased its position in Northrop Grumman by 8.6% during the 3rd quarter. MML Investors Services LLC now owns 27,859 shares of the aerospace company’s stock valued at $14,712,000 after purchasing an additional 2,210 shares during the period. Institutional investors own 83.40% of the company’s stock.

Northrop Grumman Trading Down 5.6 %

NYSE NOC opened at $486.23 on Monday. The stock has a market cap of $70.38 billion, a P/E ratio of 17.16, a P/E/G ratio of 3.73 and a beta of 0.20. The company has a current ratio of 1.01, a quick ratio of 0.91 and a debt-to-equity ratio of 0.96. Northrop Grumman Co. has a 12-month low of $418.60 and a 12-month high of $555.57. The company has a fifty day simple moving average of $479.27 and a two-hundred day simple moving average of $492.23.

Northrop Grumman (NYSE:NOC) last issued its quarterly earnings results on Thursday, January 30th. The aerospace company reported $6.39 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%. On average, analysts forecast that Northrop Grumman Co. will post 28.05 earnings per share for the current year.

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

Northrop Grumman Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 19th. Shareholders of record on Monday, March 3rd were given a dividend of $2.06 per share. This represents a $8.24 dividend on an annualized basis and a yield of 1.69%. The ex-dividend date was Monday, March 3rd. Northrop Grumman’s dividend payout ratio is presently 29.08%.

Insider Buying and Selling at Northrop Grumman

In related news, VP Benjamin R. Davies sold 192 shares of the firm’s stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $429.08, for a total transaction of $82,383.36. Following the completion of the transaction, the vice president now 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 sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Kathy J. Warden sold 3,750 shares of the company’s stock in a transaction on Thursday, March 6th. The shares were sold at an average price of $475.65, for a total transaction of $1,783,687.50. Following the completion of the sale, the chief executive officer now directly owns 212,852 shares in the company, valued at approximately $101,243,053.80. The trade was a 1.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 4,472 shares of company stock worth $2,111,332. Company insiders own 0.22% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the stock. Argus raised shares of Northrop Grumman to a “strong-buy” rating in a research report on Wednesday, February 26th. Wells Fargo & Company upped their target price on Northrop Grumman from $545.00 to $547.00 and gave the stock an “overweight” rating in a report on Friday, March 7th. Truist Financial initiated coverage on Northrop Grumman in a report on Tuesday, January 14th. They issued a “buy” rating and a $544.00 price target on the stock. StockNews.com downgraded Northrop Grumman from a “strong-buy” rating to a “buy” rating in a research report on Monday, February 3rd. Finally, Citigroup lifted their target price on Northrop Grumman from $587.00 to $591.00 and gave the company a “buy” rating in a research note on Monday, February 10th. Eight investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $545.06.

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.