ClearAlpha Technologies LP Buys Shares of 475 Northrop Grumman Co. (NYSE:NOC)

ClearAlpha Technologies LP acquired a new position in Northrop Grumman Co. (NYSE:NOC) in the 3rd quarter, HoldingsChannel.com reports. The fund acquired 475 shares of the aerospace company’s stock, valued at approximately $251,000.

Several other hedge funds also recently made changes to their positions in the stock. Optimum Investment Advisors increased its holdings in shares of Northrop Grumman by 241.2% in the 2nd quarter. Optimum Investment Advisors now owns 58 shares of the aerospace company’s stock worth $25,000 after buying an additional 41 shares during the last quarter. RPg Family Wealth Advisory LLC purchased a new position in shares of Northrop Grumman in the 3rd quarter worth about $31,000. Meeder Asset Management Inc. increased its position in shares of Northrop Grumman by 245.5% during the 2nd quarter. Meeder Asset Management Inc. now owns 76 shares of the aerospace company’s stock valued at $33,000 after purchasing an additional 54 shares during the last quarter. FSA Wealth Management LLC purchased a new position in shares of Northrop Grumman during the 3rd quarter valued at about $36,000. Finally, Catalyst Capital Advisors LLC purchased a new position in shares of Northrop Grumman during the 3rd quarter valued at about $40,000. 83.40% of the stock is currently owned by hedge funds and other institutional investors.

Northrop Grumman Stock Performance

Shares of NOC stock opened at $484.64 on Tuesday. The company has a quick ratio of 0.97, a current ratio of 1.09 and a debt-to-equity ratio of 1.00. The stock has a fifty day moving average of $517.20 and a 200 day moving average of $487.46. The firm has a market capitalization of $70.61 billion, a price-to-earnings ratio of 30.03, a PEG ratio of 0.99 and a beta of 0.33. Northrop Grumman Co. has a 52 week low of $418.60 and a 52 week high of $555.57.

Northrop Grumman (NYSE:NOC) last issued its quarterly earnings data on Thursday, October 24th. The aerospace company reported $7.00 EPS for the quarter, topping the consensus estimate of $6.07 by $0.93. The business had revenue of $10 billion during the quarter, compared to analyst estimates of $10.18 billion. Northrop Grumman had a net margin of 5.79% and a return on equity of 26.57%. Northrop Grumman’s quarterly revenue was up 2.3% compared to the same quarter last year. During the same period last year, the business posted $6.18 earnings per share. As a group, research analysts expect that Northrop Grumman Co. will post 25.93 earnings per share for the current year.

Northrop Grumman Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 18th. Shareholders of record on Monday, December 2nd will be issued a $2.06 dividend. This represents a $8.24 dividend on an annualized basis and a yield of 1.70%. The ex-dividend date is Monday, December 2nd. Northrop Grumman’s dividend payout ratio (DPR) is presently 51.05%.

Insider Buying and Selling

In other Northrop Grumman news, VP Benjamin R. Davies sold 1,156 shares of the firm’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $532.93, for a total transaction of $616,067.08. Following the completion of the sale, the vice president now directly owns 537 shares in the company, valued at approximately $286,183.41. This trade represents a 68.28 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders have sold 1,255 shares of company stock worth $667,727 in the last 90 days. Insiders own 0.22% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have commented on the stock. Morgan Stanley increased their price target on shares of Northrop Grumman from $579.00 to $592.00 and gave the company an “overweight” rating in a research report on Friday, August 9th. StockNews.com cut shares of Northrop Grumman from a “strong-buy” rating to a “buy” rating in a research report on Thursday, November 28th. Citigroup upped their price target on shares of Northrop Grumman from $521.00 to $587.00 and gave the company a “neutral” rating in a research report on Thursday, October 10th. Wells Fargo & Company lifted their price objective on Northrop Grumman from $509.00 to $565.00 and gave the stock an “equal weight” rating in a report on Friday, October 25th. Finally, Susquehanna raised their price target on Northrop Grumman from $560.00 to $625.00 and gave the stock a “positive” rating in a research report on Friday, October 25th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $550.56.

Northrop Grumman Company 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.