Appleton Partners Inc. MA Lowers Holdings in Northrop Grumman Co. (NYSE:NOC)

Appleton Partners Inc. MA reduced its stake in Northrop Grumman Co. (NYSE:NOC) by 4.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 20,641 shares of the aerospace company’s stock after selling 1,050 shares during the period. Appleton Partners Inc. MA’s holdings in Northrop Grumman were worth $9,687,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of NOC. Golden State Wealth Management LLC purchased a new stake in Northrop Grumman during the 4th quarter valued at about $425,000. Sumitomo Mitsui DS Asset Management Company Ltd lifted its stake in shares of Northrop Grumman by 1.5% in the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 16,847 shares of the aerospace company’s stock worth $7,906,000 after buying an additional 245 shares in the last quarter. Telos Capital Management Inc. increased its position in shares of Northrop Grumman by 0.4% during the fourth quarter. Telos Capital Management Inc. now owns 29,766 shares of the aerospace company’s stock valued at $13,969,000 after acquiring an additional 133 shares in the last quarter. YANKCOM Partnership purchased a new position in Northrop Grumman in the 4th quarter worth approximately $400,000. Finally, Bleakley Financial Group LLC lifted its position in Northrop Grumman by 1.5% in the 4th quarter. Bleakley Financial Group LLC now owns 8,342 shares of the aerospace company’s stock valued at $3,915,000 after acquiring an additional 122 shares in the last quarter. 83.40% of the stock is currently owned by institutional investors.

Insider Activity

In related news, VP Benjamin R. Davies sold 1,156 shares of Northrop Grumman stock in a transaction that occurred on 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 owns 537 shares of the company’s stock, valued at approximately $286,183.41. This trade represents a 68.28 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders have sold 1,255 shares of company stock worth $662,868 over the last ninety days. Corporate insiders own 0.22% of the company’s stock.

Northrop Grumman Trading Up 0.5 %

Shares of NYSE:NOC opened at $468.75 on Friday. The stock has a 50 day moving average of $477.33 and a 200 day moving average of $498.99. The company has a market cap of $67.86 billion, a PE ratio of 16.54, a price-to-earnings-growth ratio of 0.91 and a beta of 0.35. Northrop Grumman Co. has a 12-month low of $418.60 and a 12-month high of $555.57. The company has a current ratio of 1.01, a quick ratio of 0.91 and a debt-to-equity ratio of 0.96.

Northrop Grumman (NYSE:NOC) last posted its quarterly earnings results 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 10.17% and a return on equity of 26.24%. As a group, equities research analysts expect that Northrop Grumman Co. will post 28.04 EPS for the current year.

Northrop Grumman announced that its board has initiated a stock repurchase plan on Wednesday, December 11th that authorizes the company to buyback $3.00 billion in outstanding 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 usually an indication that the company’s board of directors believes its stock is undervalued.

Northrop Grumman Announces Dividend

The firm 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. The ex-dividend date of this dividend was Monday, December 2nd. This represents a $8.24 dividend on an annualized basis and a yield of 1.76%. Northrop Grumman’s dividend payout ratio is presently 29.08%.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the company. UBS Group decreased their price target on Northrop Grumman from $579.00 to $558.00 and set a “buy” rating for the company in a research note on Friday, January 31st. StockNews.com lowered Northrop Grumman from a “strong-buy” rating to a “buy” rating in a research report on Monday, February 3rd. 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. Wolfe Research raised shares of Northrop Grumman from an “underperform” rating to a “peer perform” rating in a report on Monday, February 3rd. Finally, Wells Fargo & Company dropped their target price on shares of Northrop Grumman from $595.00 to $574.00 and set an “overweight” rating on the stock in a report on Friday, January 31st. Nine research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat, Northrop Grumman has an average rating of “Moderate Buy” and a consensus price target of $544.31.

Northrop Grumman Company 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.