Caprock Group LLC Acquires Shares of 2,863 Northrop Grumman Co. (NYSE:NOC)

Caprock Group LLC acquired a new stake in shares of Northrop Grumman Co. (NYSE:NOC) in the fourth quarter, HoldingsChannel reports. The firm acquired 2,863 shares of the aerospace company’s stock, valued at approximately $1,344,000.

Other large investors have also recently made changes to their positions in the company. Czech National Bank raised its holdings in shares of Northrop Grumman by 5.6% during the 3rd quarter. Czech National Bank now owns 28,004 shares of the aerospace company’s stock worth $14,788,000 after acquiring an additional 1,495 shares in the last quarter. GAMMA Investing LLC raised its stake in Northrop Grumman by 24.1% during the third quarter. GAMMA Investing LLC now owns 2,789 shares of the aerospace company’s stock valued at $1,473,000 after purchasing an additional 541 shares in the last quarter. Diversified Trust Co lifted its position in Northrop Grumman by 2.8% during the third quarter. Diversified Trust Co now owns 2,016 shares of the aerospace company’s stock valued at $1,065,000 after purchasing an additional 54 shares during the last quarter. Everpar Advisors LLC purchased a new position in shares of Northrop Grumman in the 3rd quarter worth $223,000. Finally, Lakeridge Wealth Management LLC bought a new stake in shares of Northrop Grumman in the 3rd quarter worth about $227,000. 83.40% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research analysts recently commented on NOC shares. Susquehanna dropped their price target on Northrop Grumman from $625.00 to $557.00 and set a “positive” rating for the company in a research report on Wednesday, January 8th. Citigroup upgraded Northrop Grumman from a “neutral” rating to a “buy” rating and set a $587.00 target price for the company in a report on Tuesday, January 21st. Barclays decreased their price target on Northrop Grumman from $550.00 to $500.00 and set an “equal weight” rating on the stock in a report on Monday, January 6th. StockNews.com raised shares of Northrop Grumman from a “buy” rating to a “strong-buy” rating in a research note on Sunday, January 19th. Finally, TD Cowen raised shares of Northrop Grumman to a “hold” rating in a research note on Tuesday, October 8th. Eight research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $544.31.

Northrop Grumman Price Performance

Shares of NOC stock opened at $486.97 on Monday. Northrop Grumman Co. has a twelve month low of $418.60 and a twelve month high of $555.57. The company has a current ratio of 1.09, a quick ratio of 0.97 and a debt-to-equity ratio of 1.00. The stock has a fifty day simple moving average of $478.20 and a two-hundred day simple moving average of $498.35. The stock has a market capitalization of $70.95 billion, a price-to-earnings ratio of 30.17, a P/E/G ratio of 0.91 and a beta of 0.35.

Northrop Grumman (NYSE:NOC) last released its quarterly earnings data 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 net margin of 5.79% and a return on equity of 26.57%. On average, analysts predict that Northrop Grumman Co. will post 25.96 EPS for the current fiscal year.

Northrop Grumman Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, December 18th. Investors 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 of this dividend was Monday, December 2nd. Northrop Grumman’s payout ratio is 51.05%.

Northrop Grumman declared that its board has initiated a stock repurchase plan on Wednesday, December 11th that authorizes the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization authorizes the aerospace company to buy up to 4.3% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board of directors believes its shares are undervalued.

Insider Buying and Selling

In other news, VP Benjamin R. Davies sold 1,156 shares of Northrop Grumman stock in a transaction 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 transaction, the vice president now directly 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 SEC, which can be accessed through this hyperlink. Insiders sold 1,255 shares of company stock valued at $663,859 over the last 90 days. Corporate insiders own 0.22% of the company’s stock.

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.