FCG Investment Co Trims Holdings in Northrop Grumman Co. (NYSE:NOC)

FCG Investment Co reduced its stake in Northrop Grumman Co. (NYSE:NOC) by 32.2% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 2,067 shares of the aerospace company’s stock after selling 982 shares during the quarter. FCG Investment Co’s holdings in Northrop Grumman were worth $970,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in NOC. RPg Family Wealth Advisory LLC purchased a new position in shares of Northrop Grumman during the third quarter worth $31,000. Albion Financial Group UT acquired a new position in Northrop Grumman during the 4th quarter worth about $33,000. FSA Wealth Management LLC purchased a new position in Northrop Grumman during the 3rd quarter valued at about $36,000. Modus Advisors LLC acquired a new position in Northrop Grumman in the 4th quarter valued at about $38,000. Finally, Catalyst Capital Advisors LLC purchased a new stake in Northrop Grumman during the third quarter worth about $40,000. Institutional investors and hedge funds own 83.40% of the company’s stock.

Insider Buying and Selling

In other Northrop Grumman news, VP Benjamin R. Davies sold 1,156 shares of the stock in a transaction that occurred on Monday, November 11th. The stock was 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 directly owns 537 shares of the company’s stock, valued at approximately $286,183.41. This trade represents a 68.28 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have sold a total of 1,255 shares of company stock valued at $663,859 over the last quarter. 0.22% of the stock is currently owned by insiders.

Northrop Grumman Stock Performance

Shares of NOC stock opened at $499.56 on Friday. Northrop Grumman Co. has a 1 year low of $418.60 and a 1 year high of $555.57. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.97 and a current ratio of 1.09. The firm has a market cap of $72.79 billion, a price-to-earnings ratio of 30.95, a PEG ratio of 0.95 and a beta of 0.35. The stock’s 50-day moving average is $478.61 and its two-hundred day moving average is $495.36.

Northrop Grumman (NYSE:NOC) last released its quarterly earnings results on Thursday, October 24th. The aerospace company reported $7.00 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 analyst estimates of $10.18 billion. Northrop Grumman had a return on equity of 26.57% and a net margin of 5.79%. The firm’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 earnings per share. Analysts predict that Northrop Grumman Co. will post 25.96 earnings per share for the current year.

Northrop Grumman announced that its Board of Directors has authorized a stock buyback program on Wednesday, December 11th that authorizes the company to buyback $3.00 billion in shares. This buyback authorization authorizes the aerospace company to repurchase up to 4.3% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s board of directors believes its shares are undervalued.

Northrop Grumman Dividend Announcement

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. The ex-dividend date was Monday, December 2nd. This represents a $8.24 annualized dividend and a dividend yield of 1.65%. Northrop Grumman’s dividend payout ratio (DPR) is 51.05%.

Analysts Set New Price Targets

NOC has been the subject of a number of research reports. Citigroup upgraded shares of Northrop Grumman from a “neutral” rating to a “buy” rating and set a $587.00 price objective for the company in a report on Tuesday. UBS Group upped their price objective on Northrop Grumman from $614.00 to $643.00 and gave the stock a “buy” rating in a research report on Friday, October 25th. Truist Financial initiated coverage on Northrop Grumman in a research note on Tuesday, January 14th. They issued a “buy” rating and a $544.00 price objective on the stock. Susquehanna lowered their target price on Northrop Grumman from $625.00 to $557.00 and set a “positive” rating for the company in a research note on Wednesday, January 8th. Finally, TD Cowen raised Northrop Grumman to a “hold” rating in a research report on Tuesday, October 8th. Eight equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Northrop Grumman has an average rating of “Moderate Buy” and an average target price 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.