AdvisorNet Financial Inc Lowers Position in Northrop Grumman Co. (NYSE:NOC)

AdvisorNet Financial Inc trimmed its position in shares of Northrop Grumman Co. (NYSE:NOC) by 5.2% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,404 shares of the aerospace company’s stock after selling 349 shares during the quarter. AdvisorNet Financial Inc’s holdings in Northrop Grumman were worth $3,005,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in NOC. RPg Family Wealth Advisory LLC purchased a new position in Northrop Grumman in the third quarter valued at $31,000. Meeder Asset Management Inc. grew its position in shares of Northrop Grumman by 245.5% during the 2nd quarter. Meeder Asset Management Inc. now owns 76 shares of the aerospace company’s stock valued at $33,000 after acquiring an additional 54 shares during the period. FSA Wealth Management LLC purchased a new position in shares of Northrop Grumman in the 3rd quarter valued at about $36,000. Modus Advisors LLC acquired a new position in Northrop Grumman in the 4th quarter worth about $38,000. Finally, Catalyst Capital Advisors LLC purchased a new position in Northrop Grumman during the third quarter worth approximately $40,000. 83.40% of the stock is currently owned by institutional investors and hedge funds.

Northrop Grumman Stock Up 3.1 %

NOC stock opened at $473.09 on Tuesday. The firm has a market cap of $68.93 billion, a PE ratio of 29.31, a PEG ratio of 0.97 and a beta of 0.35. 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 1.00, a quick ratio of 0.97 and a current ratio of 1.09. The firm’s 50 day moving average price is $484.06 and its 200-day moving average price is $493.34.

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

Northrop Grumman Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, December 18th. Shareholders of record on Monday, December 2nd were given a $2.06 dividend. This represents a $8.24 annualized dividend and a yield of 1.74%. The ex-dividend date was Monday, December 2nd. Northrop Grumman’s dividend payout ratio is currently 51.05%.

Northrop Grumman announced that its board has initiated a stock buyback program on Wednesday, December 11th that permits the company to buyback $3.00 billion in shares. This buyback authorization permits the aerospace company to repurchase up to 4.3% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s management believes its shares are undervalued.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the stock. UBS Group lifted their target price on shares of Northrop Grumman from $614.00 to $643.00 and gave the company a “buy” rating in a research report on Friday, October 25th. Citigroup increased their target price on Northrop Grumman from $521.00 to $587.00 and gave the company a “neutral” rating in a report on Thursday, October 10th. Wells Fargo & Company raised Northrop Grumman from an “equal weight” rating to an “overweight” rating and set a $595.00 price target on the stock in a research note on Wednesday, January 8th. Barclays reduced their price objective on 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. Finally, Susquehanna lowered their target price on shares of Northrop Grumman from $625.00 to $557.00 and set a “positive” rating on the stock in a research note on Wednesday, January 8th. Nine equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $551.40.

Insider Buying and Selling

In other news, VP Benjamin R. Davies sold 1,156 shares of Northrop Grumman stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $532.93, for a total value of $616,067.08. Following the completion of the transaction, the vice president now 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 filing with the SEC, which can be accessed through the SEC website. Insiders have sold a total of 1,255 shares of company stock valued at $663,859 in the last ninety days. Company insiders own 0.22% of the company’s stock.

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.