Securian Asset Management Inc. Sells 241 Shares of Northrop Grumman Co. (NYSE:NOC)

Securian Asset Management Inc. cut its holdings in Northrop Grumman Co. (NYSE:NOC) by 3.2% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,345 shares of the aerospace company’s stock after selling 241 shares during the quarter. Securian Asset Management Inc.’s holdings in Northrop Grumman were worth $3,447,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. RPg Family Wealth Advisory LLC purchased a new position in shares of Northrop Grumman in the third quarter worth $31,000. Whipplewood Advisors LLC bought a new stake in Northrop Grumman in the 4th quarter worth about $31,000. Albion Financial Group UT purchased a new position in Northrop Grumman in the 4th quarter worth about $33,000. FSA Wealth Management LLC bought a new position in Northrop Grumman during the 3rd quarter valued at about $36,000. Finally, Modus Advisors LLC purchased a new stake in shares of Northrop Grumman during the 4th quarter valued at about $38,000. 83.40% of the stock is owned by institutional investors.

Northrop Grumman Stock Down 3.7 %

Shares of NOC stock opened at $475.74 on Thursday. The company has a debt-to-equity ratio of 0.96, a current ratio of 1.01 and a quick ratio of 0.91. Northrop Grumman Co. has a one year low of $418.60 and a one year high of $555.57. The company’s fifty day moving average price is $471.10 and its 200-day moving average price is $494.70. The company has a market capitalization of $68.87 billion, a price-to-earnings ratio of 16.79, a PEG ratio of 3.73 and a beta of 0.31.

Northrop Grumman (NYSE:NOC) last posted its quarterly earnings results on Thursday, January 30th. The aerospace company reported $6.39 EPS for the quarter, beating analysts’ consensus estimates of $6.27 by $0.12. Northrop Grumman had a return on equity of 26.24% and a net margin of 10.17%. Sell-side analysts expect that Northrop Grumman Co. will post 28.05 EPS for the current fiscal year.

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.

Northrop Grumman Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, March 19th. Investors of record on Monday, March 3rd will be issued a $2.06 dividend. The ex-dividend date is Monday, March 3rd. This represents a $8.24 dividend on an annualized basis and a yield of 1.73%. Northrop Grumman’s dividend payout ratio is presently 29.08%.

Insiders Place Their Bets

In other Northrop Grumman news, VP Benjamin R. Davies sold 464 shares of Northrop Grumman stock in a transaction on Friday, February 28th. The shares were sold at an average price of $460.75, for a total value of $213,788.00. Following the sale, the vice president now directly owns 245 shares in the company, valued at approximately $112,883.75. The trade was a 65.44 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Kathy J. Warden sold 3,750 shares of the stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $475.65, for a total transaction of $1,783,687.50. Following the transaction, the chief executive officer now directly owns 212,852 shares of the company’s stock, valued at $101,243,053.80. This trade represents a 1.73 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 4,505 shares of company stock worth $2,126,405 in the last three months. 0.22% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. Barclays decreased their price objective on shares of Northrop Grumman from $550.00 to $500.00 and set an “equal weight” rating for the company in a report on Monday, January 6th. Citigroup boosted their target price on shares of Northrop Grumman from $587.00 to $591.00 and gave the company a “buy” rating in a research note on Monday, February 10th. Wells Fargo & Company raised their price target on Northrop Grumman from $545.00 to $547.00 and gave the stock an “overweight” rating in a research note on Friday, March 7th. UBS Group reduced their price objective on Northrop Grumman from $579.00 to $558.00 and set a “buy” rating for the company in a research report on Friday, January 31st. Finally, Wolfe Research raised Northrop Grumman from an “underperform” rating to a “peer perform” rating in a research report on Monday, February 3rd. Nine research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $542.88.

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.