Wealthfront Advisers LLC Cuts Stock Position in Northrop Grumman Co. (NYSE:NOC)

Wealthfront Advisers LLC lessened its holdings in Northrop Grumman Co. (NYSE:NOC) by 80.1% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 2,968 shares of the aerospace company’s stock after selling 11,918 shares during the period. Wealthfront Advisers LLC’s holdings in Northrop Grumman were worth $1,393,000 as of its most recent SEC filing.

A number of other institutional investors have also bought and sold shares of NOC. Two Sigma Advisers LP increased its stake in Northrop Grumman by 102.6% in the 3rd quarter. Two Sigma Advisers LP now owns 735,600 shares of the aerospace company’s stock worth $388,448,000 after buying an additional 372,500 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in Northrop Grumman in the 4th quarter worth $171,580,000. Proficio Capital Partners LLC purchased a new stake in Northrop Grumman in the 4th quarter worth $94,370,000. Franklin Resources Inc. grew its position in shares of Northrop Grumman by 6.2% during the third quarter. Franklin Resources Inc. now owns 2,426,270 shares of the aerospace company’s stock valued at $1,315,729,000 after purchasing an additional 141,816 shares in the last quarter. Finally, Wedge Capital Management L L P NC bought a new stake in shares of Northrop Grumman in the fourth quarter worth about $66,171,000. Hedge funds and other institutional investors own 83.40% of the company’s stock.

Insider Transactions at Northrop Grumman

In other news, VP Benjamin R. Davies sold 464 shares of the stock in a transaction on Friday, February 28th. The stock was sold at an average price of $460.75, for a total transaction of $213,788.00. Following the transaction, the vice president now owns 245 shares of the company’s stock, valued at approximately $112,883.75. This represents a 65.44 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Kathy J. Warden sold 3,750 shares of the stock in a transaction on Thursday, March 6th. The stock was sold at an average price of $475.65, for a total value of $1,783,687.50. Following the transaction, the chief executive officer now directly owns 212,852 shares in the company, valued at $101,243,053.80. The trade was a 1.73 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 4,505 shares of company stock valued at $2,126,405. 0.22% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on NOC. Susquehanna reduced their target price on Northrop Grumman from $625.00 to $557.00 and set a “positive” rating on the stock in a report on Wednesday, January 8th. 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 report on Friday, January 31st. Wells Fargo & Company increased their target price on Northrop Grumman from $545.00 to $547.00 and gave the company an “overweight” rating in a research report on Friday, March 7th. StockNews.com downgraded Northrop Grumman from a “strong-buy” rating to a “buy” rating in a research report on Monday, February 3rd. Finally, Barclays lowered their target price on 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. Nine equities research analysts have rated the stock with a hold rating, nine have given 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 an average rating of “Moderate Buy” and an average target price of $542.88.

Northrop Grumman Stock Performance

NOC stock opened at $486.10 on Friday. The company has a quick ratio of 0.91, a current ratio of 1.01 and a debt-to-equity ratio of 0.96. The business’s fifty day simple moving average is $471.93 and its two-hundred day simple moving average is $494.37. Northrop Grumman Co. has a twelve month low of $418.60 and a twelve month high of $555.57. The firm has a market cap of $70.37 billion, a price-to-earnings ratio of 17.15, a PEG ratio of 3.73 and a beta of 0.31.

Northrop Grumman (NYSE:NOC) last released its earnings results 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 return on equity of 26.24% and a net margin of 10.17%. Analysts predict that Northrop Grumman Co. will post 28.05 earnings per share for the current year.

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

Northrop Grumman Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, March 19th. Stockholders of record on Monday, March 3rd will be given a dividend of $2.06 per share. This represents a $8.24 dividend on an annualized basis and a dividend yield of 1.70%. The ex-dividend date of this dividend is Monday, March 3rd. Northrop Grumman’s payout ratio is 29.08%.

Northrop Grumman 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.