SevenBridge Financial Group LLC Reduces Position in Northrop Grumman Co. (NYSE:NOC)

SevenBridge Financial Group LLC trimmed its position in shares of Northrop Grumman Co. (NYSE:NOC) by 3.9% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 568 shares of the aerospace company’s stock after selling 23 shares during the period. SevenBridge Financial Group LLC’s holdings in Northrop Grumman were worth $269,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Whipplewood Advisors LLC bought a new stake in shares of Northrop Grumman during the 4th quarter worth approximately $31,000. Albion Financial Group UT purchased a new stake in Northrop Grumman in the fourth quarter worth $33,000. Modus Advisors LLC bought a new stake in shares of Northrop Grumman during the fourth quarter worth $38,000. Stonebridge Financial Group LLC purchased a new stake in shares of Northrop Grumman during the fourth quarter valued at $42,000. Finally, Rakuten Securities Inc. grew its holdings in shares of Northrop Grumman by 291.7% in the fourth quarter. Rakuten Securities Inc. now owns 94 shares of the aerospace company’s stock worth $44,000 after purchasing an additional 70 shares during the last quarter. 83.40% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the stock. Susquehanna decreased their price objective on shares of Northrop Grumman from $625.00 to $557.00 and set a “positive” rating for the company in a report on Wednesday, January 8th. Citigroup boosted their price target on Northrop Grumman from $587.00 to $591.00 and gave the company a “buy” rating in a report on Monday, February 10th. Wolfe Research upgraded Northrop Grumman from an “underperform” rating to a “peer perform” rating in a report on Monday, February 3rd. Argus upgraded Northrop Grumman to a “strong-buy” rating in a report on Wednesday, February 26th. Finally, Wells Fargo & Company increased their price target on Northrop Grumman from $545.00 to $547.00 and gave the stock an “overweight” rating in a research report on Friday, March 7th. Eight investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $545.06.

Northrop Grumman Stock Performance

Shares of NOC stock opened at $512.16 on Thursday. Northrop Grumman Co. has a 12-month low of $418.60 and a 12-month high of $555.57. The business’s fifty day simple moving average is $479.17 and its 200-day simple moving average is $492.73. The company has a current ratio of 1.01, a quick ratio of 0.91 and a debt-to-equity ratio of 0.96. The company has a market cap of $74.14 billion, a PE ratio of 18.07, a PEG ratio of 3.73 and a beta of 0.31.

Northrop Grumman (NYSE:NOC) last announced its quarterly earnings data on Thursday, January 30th. The aerospace company reported $6.39 EPS for the quarter, beating the consensus estimate of $6.27 by $0.12. Northrop Grumman had a net margin of 10.17% and a return on equity of 26.24%. Analysts expect that Northrop Grumman Co. will post 28.05 earnings per share for the current fiscal year.

Northrop Grumman Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 19th. Stockholders of record on Monday, March 3rd were issued a dividend of $2.06 per share. This represents a $8.24 dividend on an annualized basis and a dividend yield of 1.61%. The ex-dividend date of this dividend was Monday, March 3rd. Northrop Grumman’s dividend payout ratio (DPR) is presently 29.08%.

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

Insider Activity at Northrop Grumman

In other news, VP Benjamin R. Davies sold 464 shares of the company’s stock in a transaction on Friday, February 28th. The shares were sold at an average price of $460.75, for a total value of $213,788.00. Following the sale, the vice president now directly owns 245 shares of the company’s stock, valued at $112,883.75. This represents a 65.44 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Kathy J. Warden sold 3,750 shares of the firm’s stock in a transaction on Thursday, March 6th. The stock was sold at an average price of $475.65, for a total transaction of $1,783,687.50. Following the transaction, the chief executive officer now directly owns 212,852 shares of the company’s stock, valued at approximately $101,243,053.80. This trade represents a 1.73 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 4,505 shares of company stock valued at $2,126,405 in the last ninety days. Company insiders own 0.22% of the company’s stock.

About Northrop Grumman

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.