GAMMA Investing LLC Reduces Position in Northrop Grumman Co. (NYSE:NOC)

GAMMA Investing LLC trimmed its stake in Northrop Grumman Co. (NYSE:NOC) by 2.0% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,733 shares of the aerospace company’s stock after selling 56 shares during the period. GAMMA Investing LLC’s holdings in Northrop Grumman were worth $1,283,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently bought and sold shares of NOC. RPg Family Wealth Advisory LLC bought a new stake in Northrop Grumman during the 3rd quarter worth approximately $31,000. FSA Wealth Management LLC purchased a new stake in shares of Northrop Grumman in the third quarter worth $36,000. Meeder Asset Management Inc. raised its position in shares of Northrop Grumman by 245.5% during the 2nd quarter. Meeder Asset Management Inc. now owns 76 shares of the aerospace company’s stock valued at $33,000 after purchasing an additional 54 shares during the period. Catalyst Capital Advisors LLC purchased a new position in shares of Northrop Grumman during the 3rd quarter valued at $40,000. Finally, True Wealth Design LLC bought a new position in Northrop Grumman in the 3rd quarter worth $53,000. 83.40% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on NOC shares. UBS Group raised their price target on Northrop Grumman from $614.00 to $643.00 and gave the company a “buy” rating in a report on Friday, October 25th. JPMorgan Chase & Co. lifted their target price on Northrop Grumman from $500.00 to $560.00 and gave the company a “neutral” rating in a research note on Monday, October 14th. Barclays upped their price target on Northrop Grumman from $500.00 to $550.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 29th. Citigroup lifted their price objective on shares of Northrop Grumman from $521.00 to $587.00 and gave the company a “neutral” rating in a research report on Thursday, October 10th. Finally, Wells Fargo & Company dropped their target price on shares of Northrop Grumman from $565.00 to $505.00 and set an “equal weight” rating for the company in a research report on Wednesday, December 11th. Ten investment analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $553.27.

Insider Activity at Northrop Grumman

In related news, VP Benjamin R. Davies sold 1,156 shares of Northrop Grumman 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 completion of the sale, the vice president now owns 537 shares in the company, valued at $286,183.41. This trade represents a 68.28 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders sold a total of 1,255 shares of company stock worth $666,461 in the last quarter. 0.22% of the stock is owned by company insiders.

Northrop Grumman Price Performance

NYSE:NOC opened at $467.82 on Friday. The firm has a market capitalization of $68.16 billion, a price-to-earnings ratio of 28.99, a PEG ratio of 0.97 and a beta of 0.35. 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 business has a 50 day simple moving average of $490.71 and a 200-day simple moving average of $490.95. Northrop Grumman Co. has a 1 year low of $418.60 and a 1 year high of $555.57.

Northrop Grumman (NYSE:NOC) last announced its 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. Northrop Grumman had a net margin of 5.79% and a return on equity of 26.57%. The business had revenue of $10 billion for the quarter, compared to the consensus estimate of $10.18 billion. During the same quarter in the prior year, the firm posted $6.18 earnings per share. The business’s revenue for the quarter was up 2.3% on a year-over-year basis. Equities analysts forecast that Northrop Grumman Co. will post 25.93 EPS for the current year.

Northrop Grumman Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, December 18th. Investors of record on Monday, December 2nd were paid a dividend of $2.06 per share. This represents a $8.24 dividend on an annualized basis and a dividend yield of 1.76%. The ex-dividend date of this dividend was Monday, December 2nd. Northrop Grumman’s dividend payout ratio is currently 51.05%.

Northrop Grumman declared that its Board of Directors has initiated a stock repurchase program on Wednesday, December 11th that permits the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization permits the aerospace company to buy up to 4.3% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s leadership believes its shares are undervalued.

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.