Osborne Partners Capital Management LLC Reduces Stock Holdings in Northrop Grumman Co. (NYSE:NOC)

Osborne Partners Capital Management LLC lessened its stake in Northrop Grumman Co. (NYSE:NOC) by 18.5% in the fourth quarter, Holdings Channel reports. The fund owned 450 shares of the aerospace company’s stock after selling 102 shares during the quarter. Osborne Partners Capital Management LLC’s holdings in Northrop Grumman were worth $211,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of the company. Cornell Pochily Investment Advisors Inc. lifted its position in shares of Northrop Grumman by 0.9% during the third quarter. Cornell Pochily Investment Advisors Inc. now owns 2,141 shares of the aerospace company’s stock worth $1,131,000 after purchasing an additional 20 shares in the last quarter. Asset Dedication LLC increased its stake in Northrop Grumman by 1.0% during the 3rd quarter. Asset Dedication LLC now owns 2,025 shares of the aerospace company’s stock worth $1,069,000 after buying an additional 20 shares during the period. Foundations Investment Advisors LLC boosted its position in Northrop Grumman by 1.4% in the 3rd quarter. Foundations Investment Advisors LLC now owns 1,478 shares of the aerospace company’s stock valued at $780,000 after buying an additional 20 shares during the last quarter. PBMares Wealth Management LLC boosted its position in Northrop Grumman by 0.5% in the 3rd quarter. PBMares Wealth Management LLC now owns 4,421 shares of the aerospace company’s stock valued at $2,335,000 after buying an additional 20 shares during the last quarter. Finally, Hudson Valley Investment Advisors Inc. ADV increased its position in shares of Northrop Grumman by 0.9% during the third quarter. Hudson Valley Investment Advisors Inc. ADV now owns 2,262 shares of the aerospace company’s stock worth $1,194,000 after acquiring an additional 20 shares during the last quarter. Institutional investors and hedge funds own 83.40% of the company’s stock.

Insiders Place Their Bets

In other news, VP Benjamin R. Davies sold 1,156 shares of Northrop Grumman stock in a transaction 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 transaction, the vice president now directly owns 537 shares in the company, valued at approximately $286,183.41. This trade represents a 68.28 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In the last three months, insiders have sold 1,255 shares of company stock worth $663,859. 0.22% of the stock is owned by corporate insiders.

Northrop Grumman Trading Up 0.7 %

NYSE:NOC opened at $486.97 on Monday. Northrop Grumman Co. has a 12-month low of $418.60 and a 12-month 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 business has a 50 day simple moving average of $478.20 and a 200 day simple moving average of $498.35. The firm has a market capitalization of $70.95 billion, a P/E ratio of 30.17, a P/E/G ratio of 0.91 and a beta of 0.35.

Northrop Grumman (NYSE:NOC) last released its quarterly earnings results on Thursday, January 30th. The aerospace company reported $6.39 EPS for the quarter, topping the consensus estimate of $6.27 by $0.12. Northrop Grumman had a net margin of 5.79% and a return on equity of 26.57%. Equities research analysts predict that Northrop Grumman Co. will post 25.96 EPS for the current year.

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

Northrop Grumman Announces Dividend

The business also recently disclosed 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 1.69%. The ex-dividend date was Monday, December 2nd. Northrop Grumman’s dividend payout ratio is currently 51.05%.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on NOC shares. Truist Financial began coverage on Northrop Grumman in a report on Tuesday, January 14th. They issued a “buy” rating and a $544.00 price target for the company. Citigroup raised shares of Northrop Grumman from a “neutral” rating to a “buy” rating and set a $587.00 price target for the company in a research report on Tuesday, January 21st. Barclays dropped their price target 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. Susquehanna decreased their price objective on shares of Northrop Grumman from $625.00 to $557.00 and set a “positive” rating for the company in a report on Wednesday, January 8th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Northrop Grumman from $500.00 to $560.00 and gave the stock a “neutral” rating in a research report on Monday, October 14th. Eight equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Northrop Grumman presently has an average rating of “Moderate Buy” and a consensus target price of $544.31.

About Northrop Grumman

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.