Capital Investment Counsel LLC Sells 180 Shares of Northrop Grumman Co. (NYSE:NOC)

Capital Investment Counsel LLC trimmed its position in Northrop Grumman Co. (NYSE:NOC) by 1.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 17,152 shares of the aerospace company’s stock after selling 180 shares during the quarter. Northrop Grumman makes up approximately 1.3% of Capital Investment Counsel LLC’s portfolio, making the stock its 24th biggest holding. Capital Investment Counsel LLC’s holdings in Northrop Grumman were worth $8,049,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. RPg Family Wealth Advisory LLC purchased a new stake in shares of Northrop Grumman in the 3rd quarter valued at about $31,000. Albion Financial Group UT bought a new position in shares of Northrop Grumman in the fourth quarter worth approximately $33,000. FSA Wealth Management LLC purchased a new stake in Northrop Grumman in the third quarter valued at approximately $36,000. Modus Advisors LLC bought a new stake in Northrop Grumman during the fourth quarter valued at approximately $38,000. Finally, Catalyst Capital Advisors LLC purchased a new position in Northrop Grumman in the 3rd quarter worth approximately $40,000. 83.40% of the stock is currently owned by institutional investors.

Insider Buying and Selling

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 owns 537 shares in the company, valued at $286,183.41. The trade was a 68.28 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders sold 1,255 shares of company stock valued at $663,859 over the last quarter. 0.22% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on NOC. Citigroup raised 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, January 21st. TD Cowen upgraded Northrop Grumman to a “hold” rating in a report on Tuesday, October 8th. Wells Fargo & Company raised Northrop Grumman from an “equal weight” rating to an “overweight” rating and set a $595.00 price objective on the stock in a report on Wednesday, January 8th. UBS Group upped their target price on Northrop Grumman from $614.00 to $643.00 and gave the stock a “buy” rating in a research note on Friday, October 25th. Finally, Barclays decreased their price target on shares of Northrop Grumman from $550.00 to $500.00 and set an “equal weight” rating on the stock in a research note on Monday, January 6th. Eight analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $550.94.

Northrop Grumman Stock Down 3.3 %

Shares of NYSE:NOC opened at $486.68 on Wednesday. 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 current ratio of 1.09 and a quick ratio of 0.97. The stock’s 50-day moving average is $478.95 and its 200 day moving average is $497.36. The company has a market cap of $70.91 billion, a PE ratio of 30.15, a P/E/G ratio of 0.95 and a beta of 0.35.

Northrop Grumman declared that its board has authorized a share repurchase program on Wednesday, December 11th that permits the company to buyback $3.00 billion in outstanding shares. This buyback authorization permits the aerospace company to buy up to 4.3% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s board believes its shares are undervalued.

Northrop Grumman Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, December 18th. Investors of record on Monday, December 2nd were issued a dividend of $2.06 per share. The ex-dividend date was Monday, December 2nd. This represents a $8.24 dividend on an annualized basis and a dividend yield of 1.69%. Northrop Grumman’s dividend payout ratio is presently 51.05%.

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.