Grove Bank & Trust Raises Stock Holdings in Northrop Grumman Co. (NYSE:NOC)

Grove Bank & Trust increased its position in Northrop Grumman Co. (NYSE:NOC) by 40.5% during the 4th quarter, Holdings Channel.com reports. The firm owned 260 shares of the aerospace company’s stock after purchasing an additional 75 shares during the period. Grove Bank & Trust’s holdings in Northrop Grumman were worth $122,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of NOC. Two Sigma Advisers LP grew its stake in shares of 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 acquiring an additional 372,500 shares during the last quarter. Marshall Wace LLP purchased a new stake in shares of Northrop Grumman in the second quarter worth $74,206,000. Legal & General Group Plc grew its stake in shares of Northrop Grumman by 16.0% in the second quarter. Legal & General Group Plc now owns 1,087,913 shares of the aerospace company’s stock worth $474,276,000 after acquiring an additional 150,367 shares during the last quarter. Franklin Resources Inc. grew its stake in shares of Northrop Grumman by 6.2% in the third quarter. Franklin Resources Inc. now owns 2,426,270 shares of the aerospace company’s stock worth $1,315,729,000 after acquiring an additional 141,816 shares during the last quarter. Finally, Wedge Capital Management L L P NC purchased a new stake in shares of Northrop Grumman in the fourth quarter worth $66,171,000. 83.40% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on NOC shares. Susquehanna cut their target price 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. Royal Bank of Canada increased their price objective on Northrop Grumman from $500.00 to $540.00 and gave the company a “sector perform” rating in a research report on Friday, October 25th. Citigroup increased their price objective on Northrop Grumman from $521.00 to $587.00 and gave the company a “neutral” rating in a research report on Thursday, October 10th. TD Cowen raised Northrop Grumman to a “hold” rating in a research report on Tuesday, October 8th. Finally, Barclays dropped their price objective on Northrop Grumman from $550.00 to $500.00 and set an “equal weight” rating on the stock in a research report on Monday, January 6th. Nine research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $550.94.

Northrop Grumman Stock Up 0.3 %

NYSE NOC opened at $482.49 on Tuesday. The stock’s 50-day moving average price is $480.55 and its 200-day moving average price is $494.51. The company has a quick ratio of 0.97, a current ratio of 1.09 and a debt-to-equity ratio of 1.00. Northrop Grumman Co. has a 52 week low of $418.60 and a 52 week high of $555.57. The company has a market capitalization of $70.30 billion, a P/E ratio of 29.89, a price-to-earnings-growth ratio of 0.87 and a beta of 0.35.

Northrop Grumman (NYSE:NOC) last issued its earnings results on Thursday, October 24th. The aerospace company reported $7.00 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.07 by $0.93. The company had revenue of $10 billion for the quarter, compared to the consensus estimate of $10.18 billion. Northrop Grumman had a return on equity of 26.57% and a net margin of 5.79%. The firm’s quarterly revenue was up 2.3% on a year-over-year basis. During the same quarter last year, the company earned $6.18 EPS. On average, equities research analysts predict that Northrop Grumman Co. will post 25.93 earnings per share for the current year.

Northrop Grumman Announces Dividend

The firm also recently announced 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 annualized dividend and a yield of 1.71%. The ex-dividend date of this dividend was Monday, December 2nd. Northrop Grumman’s dividend payout ratio (DPR) is presently 51.05%.

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

Insider Activity at Northrop Grumman

In related news, VP Benjamin R. Davies sold 1,156 shares of Northrop Grumman 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 sale, the vice president now 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In the last 90 days, insiders have sold 1,255 shares of company stock valued at $663,859. 0.22% of the stock is owned by company insiders.

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.