Northrop Grumman Co. (NYSE:NOC) Shares Sold by Foster & Motley Inc.

Foster & Motley Inc. decreased its stake in Northrop Grumman Co. (NYSE:NOCFree Report) by 5.4% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,936 shares of the aerospace company’s stock after selling 166 shares during the period. Foster & Motley Inc.’s holdings in Northrop Grumman were worth $1,378,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of NOC. Two Sigma Advisers LP boosted 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 valued at $388,448,000 after buying an additional 372,500 shares in the last quarter. Franklin Resources Inc. boosted its holdings in shares of 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 buying an additional 141,816 shares in the last quarter. Wedge Capital Management L L P NC acquired a new position in shares of Northrop Grumman in the 4th quarter valued at $66,171,000. International Assets Investment Management LLC acquired a new position in shares of Northrop Grumman in the 4th quarter valued at $622,000. Finally, National Bank of Canada FI boosted its holdings in shares of Northrop Grumman by 154.7% in the 3rd quarter. National Bank of Canada FI now owns 157,601 shares of the aerospace company’s stock valued at $83,224,000 after buying an additional 95,724 shares in the last quarter. Institutional investors and hedge funds own 83.40% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently commented on the stock. UBS Group upped their price target 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. Barclays reduced their price target 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. Susquehanna reduced their price target on shares of Northrop Grumman from $625.00 to $557.00 and set a “positive” rating for the company in a research report on Wednesday, January 8th. JPMorgan Chase & Co. upped their price target on shares of Northrop Grumman from $500.00 to $560.00 and gave the company a “neutral” rating in a research report on Monday, October 14th. Finally, Wells Fargo & Company upgraded shares of Northrop Grumman from an “equal weight” rating to an “overweight” rating and set a $595.00 price target for the company in a research report on Wednesday, January 8th. Eight analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Northrop Grumman has a consensus rating of “Moderate Buy” and a consensus price target of $550.94.

Check Out Our Latest Analysis on NOC

Insider Activity

In related news, VP Benjamin R. Davies sold 1,156 shares of the stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $532.93, for a total value of $616,067.08. Following the sale, the vice president now directly owns 537 shares of the company’s stock, valued at approximately $286,183.41. This represents a 68.28 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders sold 1,255 shares of company stock worth $663,859 in the last 90 days. 0.22% of the stock is currently owned by corporate insiders.

Northrop Grumman Stock Performance

Shares of NOC opened at $483.70 on Friday. The company has a 50-day simple moving average of $478.66 and a 200-day simple moving average of $497.63. 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 $70.48 billion, a PE ratio of 29.97, a P/E/G ratio of 0.95 and a beta of 0.35. Northrop Grumman Co. has a 52-week low of $418.60 and a 52-week high of $555.57.

Northrop Grumman (NYSE:NOCGet Free Report) last announced its quarterly earnings results on Thursday, January 30th. The aerospace company reported $6.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $6.27 by $0.12. Northrop Grumman had a net margin of 5.79% and a return on equity of 26.57%. Equities research analysts predict that Northrop Grumman Co. will post 25.96 earnings per share for the current fiscal year.

Northrop Grumman Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, December 18th. Stockholders of record on Monday, December 2nd were issued a $2.06 dividend. The ex-dividend date of this dividend was Monday, December 2nd. This represents a $8.24 dividend on an annualized basis and a dividend yield of 1.70%. Northrop Grumman’s dividend payout ratio is presently 51.05%.

Northrop Grumman announced that its Board of Directors has approved a share buyback plan on Wednesday, December 11th that allows the company to repurchase $3.00 billion in outstanding 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 often an indication that the company’s management believes its shares are undervalued.

Northrop Grumman Profile

(Free Report)

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.

Recommended Stories

Want to see what other hedge funds are holding NOC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Northrop Grumman Co. (NYSE:NOCFree Report).

Institutional Ownership by Quarter for Northrop Grumman (NYSE:NOC)

Receive News & Ratings for Northrop Grumman Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Northrop Grumman and related companies with MarketBeat.com's FREE daily email newsletter.