Northrop Grumman Co. (NYSE:NOC) Shares Sold by Regent Peak Wealth Advisors LLC

Regent Peak Wealth Advisors LLC decreased its position in Northrop Grumman Co. (NYSE:NOC) by 82.8% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 732 shares of the aerospace company’s stock after selling 3,514 shares during the period. Regent Peak Wealth Advisors LLC’s holdings in Northrop Grumman were worth $344,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in NOC. Two Sigma Advisers LP raised its holdings 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 acquired a new position in Northrop Grumman in the 2nd quarter valued at about $74,206,000. Canada Pension Plan Investment Board raised its stake in Northrop Grumman by 113.6% in the 2nd quarter. Canada Pension Plan Investment Board now owns 296,844 shares of the aerospace company’s stock valued at $129,409,000 after purchasing an additional 157,854 shares during the last quarter. Legal & General Group Plc lifted its holdings in Northrop Grumman by 16.0% in the 2nd quarter. Legal & General Group Plc now owns 1,087,913 shares of the aerospace company’s stock valued at $474,276,000 after purchasing an additional 150,367 shares in the last quarter. Finally, Franklin Resources Inc. boosted its stake in shares of Northrop Grumman by 6.2% during the 3rd quarter. Franklin Resources Inc. now owns 2,426,270 shares of the aerospace company’s stock worth $1,315,729,000 after purchasing an additional 141,816 shares during the last quarter. Hedge funds and other institutional investors own 83.40% of the company’s stock.

Northrop Grumman Stock Up 0.3 %

Shares of NOC stock traded up $1.24 during trading hours on Tuesday, reaching $456.38. The company had a trading volume of 535,110 shares, compared to its average volume of 652,509. The company has a market capitalization of $66.49 billion, a P/E ratio of 28.28, a price-to-earnings-growth ratio of 0.97 and a beta of 0.35. The stock’s fifty day simple moving average is $488.53 and its 200 day simple moving average is $492.28. Northrop Grumman Co. has a twelve month low of $418.60 and a twelve month 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.

Northrop Grumman (NYSE:NOC) last released its quarterly earnings results on Thursday, October 24th. The aerospace company reported $7.00 earnings per share for the quarter, beating analysts’ consensus estimates of $6.07 by $0.93. Northrop Grumman had a net margin of 5.79% and a return on equity of 26.57%. The business had revenue of $10 billion during the quarter, compared to analyst estimates of $10.18 billion. During the same period last year, the business earned $6.18 EPS. The business’s revenue was up 2.3% on a year-over-year basis. As a group, sell-side analysts expect that Northrop Grumman Co. will post 25.93 earnings per share for the current fiscal year.

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

Northrop Grumman Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, December 18th. Investors of record on Monday, December 2nd were paid a $2.06 dividend. This represents a $8.24 annualized dividend and a dividend yield of 1.81%. The ex-dividend date of this dividend was Monday, December 2nd. Northrop Grumman’s dividend payout ratio (DPR) is 51.05%.

Insider Activity

In other 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 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 legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In the last three months, insiders sold 1,222 shares of company stock worth $648,786. 0.22% of the stock is currently owned by insiders.

Analysts Set New Price Targets

NOC has been the topic of several recent analyst reports. Susquehanna upped their price objective on shares of Northrop Grumman from $560.00 to $625.00 and gave the company a “positive” rating in a research note on Friday, October 25th. JPMorgan Chase & Co. raised their price objective on Northrop Grumman from $500.00 to $560.00 and gave the stock a “neutral” rating in a report on Monday, October 14th. StockNews.com upgraded Northrop Grumman from a “buy” rating to a “strong-buy” rating in a research note on Friday. Barclays reduced their target price on Northrop Grumman from $550.00 to $500.00 and set an “equal weight” rating on the stock in a research report on Monday. Finally, Citigroup upped their price objective on shares of Northrop Grumman from $521.00 to $587.00 and gave the company a “neutral” rating in a research note on Thursday, October 10th. Ten investment analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Northrop Grumman has an average rating of “Hold” and an average price target of $549.93.

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.