Greykasell Wealth Strategies Inc. Invests $1.01 Million in Northrop Grumman Co. (NYSE:NOC)

Greykasell Wealth Strategies Inc. acquired a new position in shares of Northrop Grumman Co. (NYSE:NOC) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 2,142 shares of the aerospace company’s stock, valued at approximately $1,005,000.

A number of other hedge funds also recently made changes to their positions in NOC. Two Sigma Advisers LP grew its stake in shares of Northrop Grumman by 102.6% during the third quarter. Two Sigma Advisers LP now owns 735,600 shares of the aerospace company’s stock valued at $388,448,000 after buying an additional 372,500 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in Northrop Grumman during the 4th quarter valued at about $171,580,000. Proficio Capital Partners LLC bought a new position in Northrop Grumman during the 4th quarter worth approximately $94,370,000. Franklin Resources Inc. increased its stake in Northrop Grumman by 6.2% in the 3rd quarter. Franklin Resources Inc. now owns 2,426,270 shares of the aerospace company’s stock worth $1,315,729,000 after purchasing an additional 141,816 shares during the period. Finally, Wedge Capital Management L L P NC bought a new stake in Northrop Grumman in the fourth quarter valued at approximately $66,171,000. 83.40% of the stock is owned by institutional investors.

Northrop Grumman Trading Down 0.9 %

NYSE NOC opened at $486.10 on Friday. 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 twelve month low of $418.60 and a twelve month high of $555.57. The firm has a market capitalization of $70.37 billion, a PE ratio of 17.15, a P/E/G ratio of 3.73 and a beta of 0.31. The stock’s 50 day moving average is $471.93 and its 200 day moving average is $494.49.

Northrop Grumman (NYSE:NOC) last released its quarterly earnings results on Thursday, January 30th. The aerospace company reported $6.39 earnings per share for the quarter, beating the consensus estimate of $6.27 by $0.12. Northrop Grumman had a return on equity of 26.24% and a net margin of 10.17%. Research analysts forecast that Northrop Grumman Co. will post 28.05 earnings per share for the current fiscal year.

Northrop Grumman Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, March 19th. Stockholders of record on Monday, March 3rd will be paid a $2.06 dividend. This represents a $8.24 annualized dividend and a dividend yield of 1.70%. The ex-dividend date is Monday, March 3rd. Northrop Grumman’s dividend payout ratio is currently 29.08%.

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

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on NOC. Wolfe Research upgraded shares of Northrop Grumman from an “underperform” rating to a “peer perform” rating in a report on Monday, February 3rd. Barclays cut their price target on shares of Northrop Grumman from $550.00 to $500.00 and set an “equal weight” rating on the stock in a report on Monday, January 6th. Argus raised shares of Northrop Grumman to a “strong-buy” rating in a research note on Wednesday, February 26th. Citigroup raised their target price on Northrop Grumman from $587.00 to $591.00 and gave the stock a “buy” rating in a research note on Monday, February 10th. Finally, StockNews.com lowered Northrop Grumman from a “strong-buy” rating to a “buy” rating in a research report on Monday, February 3rd. Nine analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Northrop Grumman has a consensus rating of “Moderate Buy” and a consensus price target of $542.88.

Insider Transactions at Northrop Grumman

In other news, CEO Kathy J. Warden sold 3,750 shares of the business’s stock in a transaction on Thursday, March 6th. The stock was sold at an average price of $475.65, for a total value of $1,783,687.50. Following the completion of the transaction, the chief executive officer now owns 212,852 shares in the company, valued at $101,243,053.80. The trade was a 1.73 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP Benjamin R. Davies sold 192 shares of the business’s stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $429.08, for a total value of $82,383.36. Following the completion of the transaction, the vice president now owns 709 shares of the company’s stock, valued at $304,217.72. This represents a 21.31 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 4,505 shares of company stock worth $2,126,405 over the last quarter. 0.22% of the stock is currently owned by insiders.

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.