WASHINGTON TRUST Co Sells 86 Shares of Northrop Grumman Co. (NYSE:NOC)

WASHINGTON TRUST Co lessened its stake in shares of Northrop Grumman Co. (NYSE:NOC) by 7.2% in the 4th quarter, HoldingsChannel.com reports. The firm owned 1,114 shares of the aerospace company’s stock after selling 86 shares during the period. WASHINGTON TRUST Co’s holdings in Northrop Grumman were worth $523,000 as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. RPg Family Wealth Advisory LLC bought a new position in shares of Northrop Grumman in the third quarter worth about $31,000. FSA Wealth Management LLC bought a new position in shares of Northrop Grumman in the third quarter worth about $36,000. Albion Financial Group UT bought a new position in shares of Northrop Grumman in the fourth quarter worth about $33,000. Catalyst Capital Advisors LLC bought a new position in shares of Northrop Grumman in the third quarter worth about $40,000. Finally, Modus Advisors LLC bought a new position in shares of Northrop Grumman in the fourth quarter worth about $38,000. Institutional investors own 83.40% of the company’s stock.

Northrop Grumman Trading Down 3.6 %

Shares of NOC stock opened at $438.70 on Friday. Northrop Grumman Co. has a 1 year low of $418.60 and a 1 year high of $555.57. The company has a debt-to-equity ratio of 0.96, a current ratio of 1.01 and a quick ratio of 0.91. The stock’s 50 day simple moving average is $474.95 and its two-hundred day simple moving average is $499.19. The company has a market cap of $63.51 billion, a PE ratio of 15.48, a price-to-earnings-growth ratio of 3.00 and a beta of 0.35.

Northrop Grumman (NYSE:NOC) last issued its quarterly earnings data 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 return on equity of 26.24% and a net margin of 10.17%. Research analysts predict that Northrop Grumman Co. will post 27.94 earnings per share for the current year.

Northrop Grumman announced that its Board of Directors has authorized a stock repurchase program 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 stock through open market purchases. Stock repurchase programs are usually an indication that the company’s board believes its stock is undervalued.

Northrop Grumman Announces Dividend

The firm 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 annualized dividend and a dividend yield of 1.88%. Northrop Grumman’s payout ratio is 29.08%.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on NOC. Barclays dropped their price objective on Northrop Grumman from $550.00 to $500.00 and set an “equal weight” rating for the company in a research note on Monday, January 6th. Citigroup upped their price objective on Northrop Grumman from $587.00 to $591.00 and gave the stock a “buy” rating in a research note on Monday, February 10th. 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 note on Wednesday, January 8th. Wolfe Research raised Northrop Grumman from an “underperform” rating to a “peer perform” rating in a research note on Monday, February 3rd. Finally, StockNews.com lowered Northrop Grumman from a “strong-buy” rating to a “buy” rating in a research note on Monday, February 3rd. Nine analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, Northrop Grumman currently has an average rating of “Moderate Buy” and an average price target of $544.56.

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.