Northrop Grumman Co. (NYSE:NOC) Shares Sold by Sterling Investment Counsel LLC

Sterling Investment Counsel LLC lowered its stake in shares of Northrop Grumman Co. (NYSE:NOC) by 49.1% during the fourth quarter, Holdings Channel reports. The fund owned 436 shares of the aerospace company’s stock after selling 420 shares during the period. Sterling Investment Counsel LLC’s holdings in Northrop Grumman were worth $205,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the stock. RPg Family Wealth Advisory LLC purchased a new stake in Northrop Grumman during the 3rd quarter worth about $31,000. Albion Financial Group UT purchased a new stake in shares of Northrop Grumman during the fourth quarter worth approximately $33,000. FSA Wealth Management LLC acquired a new stake in Northrop Grumman in the third quarter valued at approximately $36,000. Modus Advisors LLC purchased a new position in Northrop Grumman in the fourth quarter worth approximately $38,000. Finally, Catalyst Capital Advisors LLC acquired a new position in Northrop Grumman during the 3rd quarter worth approximately $40,000. 83.40% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Northrop Grumman

In other Northrop Grumman news, VP Benjamin R. Davies sold 1,156 shares of Northrop Grumman stock in a transaction dated Monday, November 11th. The stock was 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 owns 537 shares in the company, valued at $286,183.41. The trade was a 68.28 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Over the last 90 days, insiders have sold 1,255 shares of company stock valued at $663,859. Company insiders own 0.22% of the company’s stock.

Northrop Grumman Price Performance

Shares of NYSE NOC opened at $503.09 on Tuesday. 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 company’s 50-day moving average price is $478.66 and its 200 day moving average price is $496.86. Northrop Grumman Co. has a 52 week low of $418.60 and a 52 week high of $555.57. The stock has a market cap of $73.30 billion, a price-to-earnings ratio of 31.17, a PEG ratio of 0.95 and a beta of 0.35.

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

Northrop Grumman Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, December 18th. Investors of record on Monday, December 2nd were given a dividend of $2.06 per share. This represents a $8.24 dividend on an annualized basis and a yield of 1.64%. The ex-dividend date was Monday, December 2nd. Northrop Grumman’s dividend payout ratio is presently 51.05%.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on NOC. Royal Bank of Canada raised their price objective 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. Citigroup raised Northrop Grumman from a “neutral” rating to a “buy” rating and set a $587.00 price target for the company in a report on Tuesday, January 21st. Barclays reduced their target price on Northrop Grumman from $550.00 to $500.00 and set an “equal weight” rating for the company in a report on Monday, January 6th. Wells Fargo & Company raised shares of Northrop Grumman from an “equal weight” rating to an “overweight” rating and set a $595.00 target price for the company in a report on Wednesday, January 8th. Finally, Susquehanna decreased their price target on Northrop Grumman from $625.00 to $557.00 and set a “positive” rating for the company in a report on Wednesday, January 8th. Eight equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $550.94.

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.