Beese Fulmer Investment Management Inc. Sells 59 Shares of Northrop Grumman Co. (NYSE:NOC)

Beese Fulmer Investment Management Inc. decreased its position in shares of Northrop Grumman Co. (NYSE:NOC) by 0.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 10,616 shares of the aerospace company’s stock after selling 59 shares during the quarter. Beese Fulmer Investment Management Inc.’s holdings in Northrop Grumman were worth $4,982,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. RPg Family Wealth Advisory LLC bought a new stake in shares of Northrop Grumman during the third quarter worth about $31,000. Albion Financial Group UT bought a new stake in Northrop Grumman during the 4th quarter worth approximately $33,000. FSA Wealth Management LLC acquired a new position in Northrop Grumman in the 3rd quarter valued at approximately $36,000. Modus Advisors LLC bought a new position in shares of Northrop Grumman during the fourth quarter valued at $38,000. Finally, Catalyst Capital Advisors LLC acquired a new position in shares of Northrop Grumman during the third quarter worth $40,000. Institutional investors own 83.40% of the company’s stock.

Northrop Grumman Price Performance

Shares of NOC opened at $466.29 on Friday. The stock has a market cap of $67.50 billion, a P/E ratio of 16.45, a P/E/G ratio of 0.91 and a beta of 0.35. The business’s fifty day moving average is $477.78 and its 200 day moving average is $499.22. The company has a quick ratio of 0.91, a current ratio of 1.01 and a debt-to-equity ratio of 0.96. Northrop Grumman Co. has a 12-month low of $418.60 and a 12-month high of $555.57.

Northrop Grumman (NYSE:NOC) last posted its earnings results on Thursday, January 30th. The aerospace company reported $6.39 EPS for the quarter, topping 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%. Sell-side analysts anticipate that Northrop Grumman Co. will post 28.04 earnings per share for the current fiscal year.

Northrop Grumman Dividend Announcement

The business also recently announced 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 was Monday, December 2nd. This represents a $8.24 dividend on an annualized basis and a dividend yield of 1.77%. Northrop Grumman’s dividend payout ratio is presently 29.08%.

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

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on NOC. StockNews.com lowered Northrop Grumman from a “strong-buy” rating to a “buy” rating in a research report on Monday. Wells Fargo & Company lowered their price objective on Northrop Grumman from $595.00 to $574.00 and set an “overweight” rating for the company in a research report on Friday, January 31st. Barclays reduced their target price on Northrop Grumman from $550.00 to $500.00 and set an “equal weight” rating on the stock in a report on Monday, January 6th. UBS Group lowered their price target on shares of Northrop Grumman from $579.00 to $558.00 and set a “buy” rating for the company in a report on Friday, January 31st. Finally, Citigroup raised shares of Northrop Grumman from a “neutral” rating to a “buy” rating and set a $587.00 price objective on the stock in a research note on Tuesday, January 21st. Nine investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, Northrop Grumman has a consensus rating of “Moderate Buy” and a consensus target price of $544.31.

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 on Monday, November 11th. The shares were sold at an average price of $532.93, for a total transaction of $616,067.08. Following the transaction, the vice president now directly owns 537 shares of the company’s stock, valued at $286,183.41. The trade was a 68.28 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders have sold a total of 1,255 shares of company stock valued at $662,868 over the last 90 days. 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.