Nvest Financial LLC Cuts Stake in Northrop Grumman Co. (NYSE:NOC)

Nvest Financial LLC lessened its stake in Northrop Grumman Co. (NYSE:NOC) by 4.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,050 shares of the aerospace company’s stock after selling 51 shares during the quarter. Nvest Financial LLC’s holdings in Northrop Grumman were worth $493,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently bought and sold shares of the company. Wellington Management Group LLP raised its holdings in Northrop Grumman by 0.4% in the third quarter. Wellington Management Group LLP now owns 4,140,892 shares of the aerospace company’s stock worth $2,186,681,000 after buying an additional 17,596 shares during the last quarter. Geode Capital Management LLC raised its holdings in Northrop Grumman by 0.6% in the 3rd quarter. Geode Capital Management LLC now owns 3,003,360 shares of the aerospace company’s stock worth $1,581,644,000 after acquiring an additional 18,791 shares during the last quarter. Franklin Resources Inc. lifted its position in Northrop Grumman by 6.2% in the 3rd quarter. Franklin Resources Inc. now owns 2,426,270 shares of the aerospace company’s stock valued at $1,315,729,000 after acquiring an additional 141,816 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in Northrop Grumman by 0.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 809,445 shares of the aerospace company’s stock valued at $427,444,000 after purchasing an additional 3,211 shares during the last quarter. Finally, Two Sigma Advisers LP increased its holdings in shares of 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 purchasing an additional 372,500 shares in the last quarter. Institutional investors own 83.40% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on NOC shares. UBS Group increased their price objective on Northrop Grumman from $614.00 to $643.00 and gave the company a “buy” rating in a research report on Friday, October 25th. Royal Bank of Canada raised their price target on shares of Northrop Grumman from $500.00 to $540.00 and gave the company a “sector perform” rating in a report on Friday, October 25th. StockNews.com upgraded shares of Northrop Grumman from a “buy” rating to a “strong-buy” rating in a research note on Sunday, January 19th. TD Cowen upgraded shares of Northrop Grumman to a “hold” rating in a research report on Tuesday, October 8th. Finally, Barclays cut their target price on shares of 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. Eight investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $550.94.

Insiders Place Their Bets

In other Northrop Grumman news, VP Benjamin R. Davies sold 1,156 shares of the firm’s stock in a transaction dated 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 directly owns 537 shares of the company’s stock, valued at $286,183.41. This trade represents a 68.28 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders sold a total of 1,255 shares of company stock worth $663,859 over the last three months. 0.22% of the stock is currently owned by company insiders.

Northrop Grumman Stock Down 3.3 %

NYSE NOC opened at $486.68 on Wednesday. Northrop Grumman Co. has a 52 week low of $418.60 and a 52 week high of $555.57. The company has a quick ratio of 0.97, a current ratio of 1.09 and a debt-to-equity ratio of 1.00. The company has a market capitalization of $70.91 billion, a P/E ratio of 30.15, a price-to-earnings-growth ratio of 0.95 and a beta of 0.35. The stock’s 50-day moving average price is $478.87 and its 200-day moving average price is $497.74.

Northrop Grumman Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, December 18th. Shareholders of record on Monday, December 2nd were issued a dividend of $2.06 per share. This represents a $8.24 annualized dividend and a yield of 1.69%. 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 repurchase program on Wednesday, December 11th that allows the company to buyback $3.00 billion in shares. This buyback authorization allows the aerospace company to reacquire up to 4.3% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s management believes its stock is undervalued.

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.