HighPoint Advisor Group LLC Acquires 178 Shares of Northrop Grumman Co. (NYSE:NOC)

HighPoint Advisor Group LLC lifted its holdings in shares of Northrop Grumman Co. (NYSE:NOC) by 2.0% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,100 shares of the aerospace company’s stock after purchasing an additional 178 shares during the period. HighPoint Advisor Group LLC’s holdings in Northrop Grumman were worth $4,312,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in NOC. Townsquare Capital LLC lifted its position in shares of Northrop Grumman by 75.6% during the 3rd quarter. Townsquare Capital LLC now owns 5,390 shares of the aerospace company’s stock valued at $2,847,000 after acquiring an additional 2,320 shares during the period. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in shares of Northrop Grumman during the third quarter valued at about $1,056,000. Public Sector Pension Investment Board boosted its position in shares of Northrop Grumman by 7.7% during the 3rd quarter. Public Sector Pension Investment Board now owns 5,567 shares of the aerospace company’s stock worth $2,940,000 after purchasing an additional 400 shares in the last quarter. Rockefeller Capital Management L.P. grew its stake in shares of Northrop Grumman by 17.5% in the 3rd quarter. Rockefeller Capital Management L.P. now owns 44,219 shares of the aerospace company’s stock valued at $23,340,000 after buying an additional 6,570 shares during the period. Finally, Captrust Financial Advisors grew its stake in shares of Northrop Grumman by 0.3% in the 3rd quarter. Captrust Financial Advisors now owns 19,899 shares of the aerospace company’s stock valued at $10,508,000 after buying an additional 69 shares during the period. Institutional investors and hedge funds own 83.40% of the company’s stock.

Insider Transactions at Northrop Grumman

In other Northrop Grumman news, VP Benjamin R. Davies sold 464 shares of the stock in a transaction on Friday, February 28th. The stock was sold at an average price of $460.75, for a total transaction of $213,788.00. Following the completion of the transaction, the vice president now directly owns 245 shares of the company’s stock, valued at approximately $112,883.75. This represents a 65.44 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Kathy J. Warden sold 3,750 shares of the business’s stock in a transaction on Thursday, March 6th. The shares were sold at an average price of $475.65, for a total value of $1,783,687.50. Following the completion of the sale, the chief executive officer now 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 sold a total of 4,505 shares of company stock worth $2,126,405 in the last quarter. Insiders own 0.22% of the company’s stock.

Northrop Grumman Stock Performance

Shares of Northrop Grumman stock opened at $511.86 on Monday. The business’s fifty day simple moving average is $478.20 and its 200 day simple moving average is $492.68. 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 12 month low of $418.60 and a 12 month high of $555.57. The firm has a market capitalization of $74.09 billion, a P/E ratio of 18.06, a price-to-earnings-growth ratio of 3.73 and a beta of 0.31.

Northrop Grumman (NYSE:NOC) last released its earnings results on Thursday, January 30th. The aerospace company reported $6.39 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%. As a group, analysts anticipate that Northrop Grumman Co. will post 28.05 EPS for the current year.

Northrop Grumman declared that its board has authorized a stock repurchase program on Wednesday, December 11th that allows the company to repurchase $3.00 billion in shares. This repurchase authorization allows the aerospace company to buy up to 4.3% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s leadership believes its shares are undervalued.

Northrop Grumman Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 19th. Stockholders of record on Monday, March 3rd were given a dividend of $2.06 per share. This represents a $8.24 dividend on an annualized basis and a dividend yield of 1.61%. The ex-dividend date was Monday, March 3rd. Northrop Grumman’s dividend payout ratio is currently 29.08%.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on NOC shares. Barclays cut their price target 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. Susquehanna reduced their price target on shares of Northrop Grumman from $625.00 to $557.00 and set a “positive” rating for the company in a research report on Wednesday, January 8th. Wells Fargo & Company upped their price objective on shares of Northrop Grumman from $545.00 to $547.00 and gave the stock an “overweight” rating in a report on Friday, March 7th. Royal Bank of Canada upgraded shares of Northrop Grumman from a “sector perform” rating to an “outperform” rating and lifted their price objective for the company from $500.00 to $575.00 in a report on Thursday. Finally, UBS Group decreased their target price on shares of Northrop Grumman from $579.00 to $558.00 and set a “buy” rating for the company in a research report on Friday, January 31st. Eight analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $545.06.

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.