Stoneridge Investment Partners LLC Takes Position in Northrop Grumman Co. (NYSE:NOC)

Stoneridge Investment Partners LLC bought a new stake in Northrop Grumman Co. (NYSE:NOC) in the fourth quarter, Holdings Channel.com reports. The institutional investor bought 4,485 shares of the aerospace company’s stock, valued at approximately $2,105,000.

Other hedge funds also recently modified their holdings of the company. RPg Family Wealth Advisory LLC purchased a new stake in shares of Northrop Grumman in the third quarter valued at $31,000. Albion Financial Group UT purchased a new stake in shares of Northrop Grumman during the fourth quarter worth $33,000. FSA Wealth Management LLC purchased a new stake in shares of Northrop Grumman during the third quarter worth $36,000. Modus Advisors LLC purchased a new stake in shares of Northrop Grumman during the fourth quarter worth $38,000. Finally, Catalyst Capital Advisors LLC purchased a new stake in shares of Northrop Grumman during the third quarter worth $40,000. Hedge funds and other institutional investors own 83.40% of the company’s stock.

Northrop Grumman Price Performance

NOC stock opened at $468.75 on Friday. The stock has a 50-day moving average price of $476.91 and a two-hundred day moving average price of $499.20. The stock has a market cap of $67.86 billion, a PE ratio of 16.54, a price-to-earnings-growth ratio of 3.00 and a beta of 0.35. 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 Co. has a 1 year low of $418.60 and a 1 year high of $555.57.

Northrop Grumman (NYSE:NOC) last released its earnings results on Thursday, January 30th. The aerospace company reported $6.39 earnings per share (EPS) for the quarter, topping 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%. Equities analysts forecast that Northrop Grumman Co. will post 27.94 EPS for the current fiscal year.

Northrop Grumman Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, December 18th. Stockholders of record on Monday, December 2nd were paid a dividend of $2.06 per share. The ex-dividend date was Monday, December 2nd. This represents a $8.24 dividend on an annualized basis and a dividend yield of 1.76%. Northrop Grumman’s dividend payout ratio is 29.08%.

Northrop Grumman announced that its Board of Directors has initiated a stock buyback program on Wednesday, December 11th that authorizes the company to buyback $3.00 billion in shares. This buyback authorization authorizes the aerospace company to repurchase up to 4.3% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s leadership believes its stock is undervalued.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on NOC shares. JPMorgan Chase & Co. raised their target price on Northrop Grumman from $500.00 to $560.00 and gave the company a “neutral” rating in a report on Monday, October 14th. Citigroup upgraded Northrop Grumman from a “neutral” rating to a “buy” rating and set a $587.00 target price on the stock in a report on Tuesday, January 21st. Wolfe Research raised Northrop Grumman from an “underperform” rating to a “peer perform” rating in a research report on Monday, February 3rd. Wells Fargo & Company decreased their target price on Northrop Grumman from $595.00 to $574.00 and set an “overweight” rating on the stock in a research report on Friday, January 31st. Finally, UBS Group cut their price target on shares of Northrop Grumman from $579.00 to $558.00 and set a “buy” rating for the company in a research note on Friday, January 31st. Nine investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $544.31.

Insider Transactions at Northrop Grumman

In related news, VP Benjamin R. Davies sold 1,156 shares of the firm’s 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 completion of the sale, 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 document filed with the SEC, which is accessible through the SEC website. Insiders sold a total of 1,255 shares of company stock worth $662,868 in the last three months. 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.