Wealthspire Advisors LLC Has $2.04 Million Stake in Northrop Grumman Co. (NYSE:NOC)

Wealthspire Advisors LLC lessened its holdings in Northrop Grumman Co. (NYSE:NOC) by 2.9% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 4,337 shares of the aerospace company’s stock after selling 128 shares during the period. Wealthspire Advisors LLC’s holdings in Northrop Grumman were worth $2,035,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently made changes to their positions in the company. Two Sigma Advisers LP boosted its stake in Northrop Grumman by 102.6% in the third quarter. Two Sigma Advisers LP now owns 735,600 shares of the aerospace company’s stock worth $388,448,000 after purchasing an additional 372,500 shares in the last quarter. Franklin Resources Inc. increased its position in Northrop Grumman by 6.2% in the 3rd quarter. Franklin Resources Inc. now owns 2,426,270 shares of the aerospace company’s stock valued at $1,315,729,000 after acquiring an additional 141,816 shares in the last quarter. Wedge Capital Management L L P NC bought a new position in shares of Northrop Grumman in the fourth quarter worth about $66,171,000. International Assets Investment Management LLC acquired a new position in shares of Northrop Grumman during the fourth quarter worth approximately $622,000. Finally, National Bank of Canada FI grew its stake in shares of Northrop Grumman by 154.7% during the third quarter. National Bank of Canada FI now owns 157,601 shares of the aerospace company’s stock valued at $83,224,000 after purchasing an additional 95,724 shares during the last quarter. Institutional investors and hedge funds own 83.40% of the company’s stock.

Northrop Grumman Trading Up 0.5 %

NYSE NOC opened at $449.98 on Tuesday. Northrop Grumman Co. has a one year low of $418.60 and a one year high of $555.57. The company has a debt-to-equity ratio of 0.96, a current ratio of 1.01 and a quick ratio of 0.91. The firm has a market cap of $65.14 billion, a P/E ratio of 15.88, a P/E/G ratio of 3.73 and a beta of 0.35. The stock’s 50-day moving average is $470.38 and its 200-day moving average is $497.29.

Northrop Grumman (NYSE:NOC) last announced its 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 10.17% and a return on equity of 26.24%. Sell-side analysts anticipate that Northrop Grumman Co. will post 28.05 earnings per share for the current fiscal year.

Northrop Grumman announced that its board has initiated a share buyback plan on Wednesday, December 11th that allows the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization allows the aerospace company to purchase up to 4.3% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s leadership believes its shares are undervalued.

Northrop Grumman Announces Dividend

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 paid a $2.06 dividend. This represents a $8.24 dividend on an annualized basis and a yield of 1.83%. The ex-dividend date of this dividend is Monday, March 3rd. Northrop Grumman’s payout ratio is presently 29.08%.

Analysts Set New Price Targets

Several research analysts have issued reports on NOC shares. UBS Group reduced their price objective on Northrop Grumman from $579.00 to $558.00 and set a “buy” rating on the stock in a report on Friday, January 31st. Wolfe Research upgraded shares of Northrop Grumman from an “underperform” rating to a “peer perform” rating in a research report on Monday, February 3rd. Barclays lowered 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 report on Monday, January 6th. Susquehanna cut their price objective on shares of Northrop Grumman from $625.00 to $557.00 and set a “positive” rating on the stock in a report on Wednesday, January 8th. Finally, StockNews.com lowered shares of Northrop Grumman from a “strong-buy” rating to a “buy” rating in a report on Monday, February 3rd. Nine analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, Northrop Grumman has a consensus rating of “Moderate Buy” and a consensus target price of $544.56.

Insiders Place Their Bets

In related news, VP Benjamin R. Davies sold 192 shares of the stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $429.08, for a total transaction of $82,383.36. Following the completion of the transaction, the vice president now directly owns 709 shares in the company, valued at approximately $304,217.72. This trade represents a 21.31 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In the last 90 days, insiders sold 291 shares of company stock worth $129,184. Corporate insiders own 0.22% of the company’s stock.

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.