HighTower Advisors LLC Grows Stake in Northrop Grumman Co. (NYSE:NOC)

HighTower Advisors LLC lifted its stake in shares of Northrop Grumman Co. (NYSE:NOC) by 37.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 81,642 shares of the aerospace company’s stock after purchasing an additional 22,121 shares during the period. HighTower Advisors LLC owned about 0.06% of Northrop Grumman worth $38,314,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of the stock. RPg Family Wealth Advisory LLC acquired a new position in Northrop Grumman during the third quarter worth about $31,000. Whipplewood Advisors LLC acquired a new position in Northrop Grumman during the fourth quarter worth about $31,000. FSA Wealth Management LLC acquired a new position in Northrop Grumman during the third quarter worth about $36,000. Albion Financial Group UT acquired a new position in Northrop Grumman during the fourth quarter worth about $33,000. Finally, Modus Advisors LLC acquired a new position in Northrop Grumman during the fourth quarter worth about $38,000. Hedge funds and other institutional investors own 83.40% of the company’s stock.

Insider Buying and Selling

In related news, VP Benjamin R. Davies sold 192 shares of the company’s stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $429.08, for a total transaction of $82,383.36. Following the sale, the vice president now directly owns 709 shares of the company’s stock, valued at $304,217.72. This represents a 21.31 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Kathy J. Warden sold 3,750 shares of the company’s stock in a transaction that occurred 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 sale, the chief executive officer now directly owns 212,852 shares in the company, valued at approximately $101,243,053.80. The trade was a 1.73 % decrease in their ownership of the stock. 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.

Northrop Grumman Stock Performance

Shares of NOC stock opened at $491.20 on Friday. The firm’s 50 day moving average price is $471.57 and its 200-day moving average price is $494.67. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.91 and a current ratio of 1.01. Northrop Grumman Co. has a one year low of $418.60 and a one year high of $555.57. The firm has a market cap of $71.10 billion, a P/E ratio of 17.33, a P/E/G ratio of 3.73 and a beta of 0.31.

Northrop Grumman (NYSE:NOC) last issued its quarterly earnings data 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%. As a group, equities research analysts predict that Northrop Grumman Co. will post 28.05 EPS for the current year.

Northrop Grumman announced that its Board of Directors has approved a share buyback plan on Wednesday, December 11th that permits the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization permits the aerospace company to repurchase up to 4.3% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s management believes its stock is undervalued.

Northrop Grumman Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 19th. Investors of record on Monday, March 3rd will be paid a dividend of $2.06 per share. This represents a $8.24 annualized dividend and a yield of 1.68%. The ex-dividend date is Monday, March 3rd. Northrop Grumman’s payout ratio is currently 29.08%.

Analyst Upgrades and Downgrades

NOC has been the topic of a number of recent research reports. UBS Group lowered their price target on shares of Northrop Grumman from $579.00 to $558.00 and set a “buy” rating on the stock in a research report on Friday, January 31st. Susquehanna decreased their target price on shares of Northrop Grumman from $625.00 to $557.00 and set a “positive” rating on the stock in a report on Wednesday, January 8th. Argus upgraded shares of Northrop Grumman to a “strong-buy” rating in a report on Wednesday, February 26th. Wolfe Research upgraded shares of Northrop Grumman from an “underperform” rating to a “peer perform” rating in a report on Monday, February 3rd. Finally, Citigroup boosted their target price on shares of Northrop Grumman from $587.00 to $591.00 and gave the company a “buy” rating in a report on Monday, February 10th. Nine investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Northrop Grumman has an average rating of “Moderate Buy” and a consensus target price of $542.88.

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.