TD Private Client Wealth LLC Acquires 32 Shares of Northrop Grumman Co. (NYSE:NOC)

TD Private Client Wealth LLC grew its holdings in Northrop Grumman Co. (NYSE:NOC) by 3.8% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 883 shares of the aerospace company’s stock after acquiring an additional 32 shares during the quarter. TD Private Client Wealth LLC’s holdings in Northrop Grumman were worth $466,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. RPg Family Wealth Advisory LLC bought a new stake in Northrop Grumman in the 3rd quarter valued at $31,000. Meeder Asset Management Inc. lifted its stake in shares of Northrop Grumman by 245.5% in the second quarter. Meeder Asset Management Inc. now owns 76 shares of the aerospace company’s stock valued at $33,000 after buying an additional 54 shares during the period. FSA Wealth Management LLC bought a new position in Northrop Grumman during the third quarter valued at about $36,000. Catalyst Capital Advisors LLC acquired a new position in Northrop Grumman in the 3rd quarter valued at approximately $40,000. Finally, Strategic Financial Concepts LLC acquired a new stake in shares of Northrop Grumman during the 2nd quarter worth approximately $47,000. Institutional investors and hedge funds own 83.40% of the company’s stock.

Northrop Grumman Price Performance

Shares of NOC stock opened at $480.00 on Friday. Northrop Grumman Co. has a 1 year low of $418.60 and a 1 year high of $555.57. The company has a current ratio of 1.09, a quick ratio of 0.97 and a debt-to-equity ratio of 1.00. The firm’s 50 day moving average is $506.77 and its 200-day moving average is $488.20. The firm has a market capitalization of $69.94 billion, a price-to-earnings ratio of 29.74, a PEG ratio of 0.96 and a beta of 0.33.

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

Northrop Grumman declared that its Board of Directors has initiated a share repurchase plan on Wednesday, December 11th that allows the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization allows the aerospace company to purchase up to 4.3% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s board believes its shares are undervalued.

Northrop Grumman Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 18th. Investors of record on Monday, December 2nd will be given a $2.06 dividend. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $8.24 dividend on an annualized basis and a yield of 1.72%. Northrop Grumman’s payout ratio is 51.05%.

Insiders Place Their Bets

In other news, VP Benjamin R. Davies sold 1,156 shares of Northrop Grumman stock in a transaction that occurred 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 completion of the sale, the vice president now owns 537 shares in the company, valued at $286,183.41. The trade was a 68.28 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In the last three months, insiders sold 1,255 shares of company stock valued at $666,461. 0.22% of the stock is currently owned by insiders.

Analyst Ratings Changes

NOC has been the topic of a number of recent research reports. Susquehanna lifted their price target on shares of Northrop Grumman from $560.00 to $625.00 and gave the stock a “positive” rating in a research note on Friday, October 25th. JPMorgan Chase & Co. increased their price target on shares of Northrop Grumman from $500.00 to $560.00 and gave the stock a “neutral” rating in a research report on Monday, October 14th. TD Cowen raised Northrop Grumman to a “hold” rating in a report on Tuesday, October 8th. Wells Fargo & Company dropped their target price on Northrop Grumman from $565.00 to $505.00 and set an “equal weight” rating for the company in a report on Wednesday. Finally, Barclays raised their target price on Northrop Grumman from $500.00 to $550.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 29th. Ten investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $553.27.

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.