Portfolio Design Labs LLC Grows Position in Northrop Grumman Co. (NYSE:NOC)

Portfolio Design Labs LLC grew its holdings in shares of Northrop Grumman Co. (NYSE:NOC) by 125.8% in the fourth quarter, HoldingsChannel.com reports. The fund owned 1,041 shares of the aerospace company’s stock after purchasing an additional 580 shares during the period. Portfolio Design Labs LLC’s holdings in Northrop Grumman were worth $489,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of the stock. RPg Family Wealth Advisory LLC purchased a new stake in Northrop Grumman during the third quarter valued at about $31,000. FSA Wealth Management LLC bought a new position in shares of Northrop Grumman during the 3rd quarter valued at about $36,000. Albion Financial Group UT purchased a new position in shares of Northrop Grumman during the 4th quarter valued at about $33,000. Catalyst Capital Advisors LLC bought a new stake in Northrop Grumman in the 3rd quarter worth approximately $40,000. Finally, Modus Advisors LLC purchased a new stake in Northrop Grumman in the fourth quarter worth approximately $38,000. 83.40% of the stock is currently owned by institutional investors.

Northrop Grumman Stock Down 0.2 %

Shares of Northrop Grumman stock opened at $473.58 on Wednesday. The company has a 50-day simple moving average of $476.69 and a two-hundred day simple moving average of $500.03. The stock has a market capitalization of $68.55 billion, a PE ratio of 16.71, a price-to-earnings-growth ratio of 3.00 and a beta of 0.35. Northrop Grumman Co. has a 52-week low of $418.60 and a 52-week high of $555.57. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.91 and a current ratio of 1.01.

Northrop Grumman (NYSE:NOC) last announced 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%. On average, analysts anticipate that Northrop Grumman Co. will post 27.94 EPS for the current fiscal year.

Northrop Grumman Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, December 18th. Investors of record on Monday, December 2nd were given 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 1.74%. Northrop Grumman’s dividend payout ratio (DPR) is presently 29.08%.

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

Wall Street Analysts Forecast Growth

Several research firms have commented on NOC. Wolfe Research raised shares of Northrop Grumman from an “underperform” rating to a “peer perform” rating in a research note on Monday, February 3rd. Wells Fargo & Company decreased their target price on shares of Northrop Grumman from $595.00 to $574.00 and set an “overweight” rating on the stock in a research report on Friday, January 31st. StockNews.com lowered shares of Northrop Grumman from a “strong-buy” rating to a “buy” rating in a research report on Monday, February 3rd. Susquehanna reduced their price objective on Northrop Grumman from $625.00 to $557.00 and set a “positive” rating on the stock in a research note on Wednesday, January 8th. Finally, UBS Group lowered their target price on Northrop Grumman from $579.00 to $558.00 and set a “buy” rating for the company in a research note on Friday, January 31st. Nine analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat, Northrop Grumman presently has a consensus rating of “Moderate Buy” and a consensus price target of $544.56.

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.