Globeflex Capital L P Buys Shares of 17,700 Northrop Grumman Co. (NYSE:NOC)

Globeflex Capital L P bought a new stake in Northrop Grumman Co. (NYSE:NOC) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 17,700 shares of the aerospace company’s stock, valued at approximately $8,306,000.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Meeder Advisory Services Inc. grew its stake in Northrop Grumman by 0.9% during the third quarter. Meeder Advisory Services Inc. now owns 2,288 shares of the aerospace company’s stock worth $1,208,000 after buying an additional 20 shares during the period. Thompson Siegel & Walmsley LLC boosted its stake in shares of Northrop Grumman by 0.3% in the third quarter. Thompson Siegel & Walmsley LLC now owns 8,320 shares of the aerospace company’s stock valued at $4,394,000 after purchasing an additional 21 shares during the period. Sapient Capital LLC boosted its stake in shares of Northrop Grumman by 1.1% in the fourth quarter. Sapient Capital LLC now owns 2,049 shares of the aerospace company’s stock valued at $962,000 after purchasing an additional 22 shares during the period. Bank Pictet & Cie Europe AG boosted its stake in shares of Northrop Grumman by 2.2% in the fourth quarter. Bank Pictet & Cie Europe AG now owns 1,006 shares of the aerospace company’s stock valued at $472,000 after purchasing an additional 22 shares during the period. Finally, Mather Group LLC. boosted its stake in shares of Northrop Grumman by 2.6% in the fourth quarter. Mather Group LLC. now owns 900 shares of the aerospace company’s stock valued at $422,000 after purchasing an additional 23 shares during the period. 83.40% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Northrop Grumman

In other news, CEO Kathy J. Warden sold 3,750 shares of the firm’s stock in a transaction dated 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 transaction, the chief executive officer now owns 212,852 shares in the company, valued at approximately $101,243,053.80. This trade represents a 1.73 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, VP Benjamin R. Davies sold 192 shares of the firm’s stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $429.08, for a total transaction of $82,383.36. Following the transaction, the vice president now owns 709 shares of the company’s stock, valued at approximately $304,217.72. This trade represents a 21.31 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 4,505 shares of company stock worth $2,126,405 in the last 90 days. Corporate insiders own 0.22% of the company’s stock.

Northrop Grumman Stock Down 0.9 %

NOC stock opened at $486.10 on Friday. The company has a quick ratio of 0.91, a current ratio of 1.01 and a debt-to-equity ratio of 0.96. Northrop Grumman Co. has a fifty-two week low of $418.60 and a fifty-two week high of $555.57. The firm’s 50-day simple moving average is $471.93 and its 200 day simple moving average is $494.49. The stock has a market cap of $70.37 billion, a PE ratio of 17.15, a price-to-earnings-growth ratio of 3.73 and a beta of 0.31.

Northrop Grumman (NYSE:NOC) last released its quarterly earnings data on Thursday, January 30th. The aerospace company reported $6.39 earnings per share for the quarter, topping analysts’ consensus estimates of $6.27 by $0.12. Northrop Grumman had a net margin of 10.17% and a return on equity of 26.24%. As a group, sell-side analysts predict that Northrop Grumman Co. will post 28.05 EPS for the current year.

Northrop Grumman declared that its board has authorized a stock buyback plan on Wednesday, December 11th that allows the company to buyback $3.00 billion in shares. This buyback authorization allows the aerospace company to buy up to 4.3% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s management believes its stock is undervalued.

Northrop Grumman Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, March 19th. Investors of record on Monday, March 3rd will be given a $2.06 dividend. The ex-dividend date is Monday, March 3rd. This represents a $8.24 dividend on an annualized basis and a yield of 1.70%. Northrop Grumman’s dividend payout ratio is presently 29.08%.

Analyst Upgrades and Downgrades

NOC has been the subject of several analyst reports. UBS Group decreased their target price on shares of Northrop Grumman from $579.00 to $558.00 and set a “buy” rating for the company in a research note on Friday, January 31st. Barclays decreased their target price 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. Wolfe Research raised shares of Northrop Grumman from an “underperform” rating to a “peer perform” rating in a report on Monday, February 3rd. Citigroup upped their price target on shares of Northrop Grumman from $587.00 to $591.00 and gave the company a “buy” rating in a report on Monday, February 10th. Finally, Argus raised shares of Northrop Grumman to a “strong-buy” rating in a report on Wednesday, February 26th. Nine equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $542.88.

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.