Claro Advisors LLC Trims Holdings in Northrop Grumman Co. (NYSE:NOC)

Claro Advisors LLC reduced its stake in Northrop Grumman Co. (NYSE:NOC) by 13.4% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,136 shares of the aerospace company’s stock after selling 331 shares during the quarter. Claro Advisors LLC’s holdings in Northrop Grumman were worth $1,002,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. RPg Family Wealth Advisory LLC acquired a new stake in shares of Northrop Grumman during the 3rd quarter worth approximately $31,000. Meeder Asset Management Inc. increased its stake in Northrop Grumman by 245.5% during the second quarter. Meeder Asset Management Inc. now owns 76 shares of the aerospace company’s stock worth $33,000 after acquiring an additional 54 shares during the last quarter. FSA Wealth Management LLC purchased a new stake in Northrop Grumman in the third quarter valued at $36,000. Modus Advisors LLC acquired a new position in shares of Northrop Grumman in the 4th quarter valued at $38,000. Finally, Catalyst Capital Advisors LLC purchased a new position in shares of Northrop Grumman during the 3rd quarter worth $40,000. 83.40% of the stock is owned by institutional investors and hedge funds.

Northrop Grumman Stock Performance

Northrop Grumman stock traded up $14.32 during mid-day trading on Monday, reaching $473.01. 702,345 shares of the company were exchanged, compared to its average volume of 743,548. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.97 and a current ratio of 1.09. The firm’s 50-day simple moving average is $484.74 and its two-hundred day simple moving average is $493.07. Northrop Grumman Co. has a twelve month low of $418.60 and a twelve month high of $555.57. The firm has a market cap of $68.92 billion, a PE ratio of 29.31, a price-to-earnings-growth ratio of 0.97 and a beta of 0.35.

Northrop Grumman (NYSE:NOC) last released its quarterly earnings data on Thursday, October 24th. The aerospace company reported $7.00 EPS for the quarter, topping analysts’ consensus estimates 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 net margin of 5.79% and a return on equity of 26.57%. The firm’s revenue was up 2.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $6.18 earnings per share. Equities analysts predict that Northrop Grumman Co. will post 25.93 earnings per share for the current fiscal year.

Northrop Grumman Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, December 18th. Investors of record on Monday, December 2nd were paid a $2.06 dividend. The ex-dividend date was Monday, December 2nd. This represents a $8.24 annualized dividend and a yield of 1.74%. Northrop Grumman’s payout ratio is currently 51.05%.

Northrop Grumman declared that its board has initiated a stock repurchase plan on Wednesday, December 11th that authorizes the company to repurchase $3.00 billion in shares. This repurchase authorization authorizes the aerospace company to repurchase up to 4.3% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the stock. UBS Group increased their target price on shares of Northrop Grumman from $614.00 to $643.00 and gave the stock a “buy” rating in a research note on Friday, October 25th. JPMorgan Chase & Co. raised their price target on Northrop Grumman from $500.00 to $560.00 and gave the stock a “neutral” rating in a research report on Monday, October 14th. Barclays cut their price objective 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. StockNews.com lowered shares of Northrop Grumman from a “strong-buy” rating to a “buy” rating in a research note on Saturday. Finally, TD Cowen raised shares of Northrop Grumman to a “hold” rating in a research note on Tuesday, October 8th. Nine equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $551.40.

Insider Buying and Selling

In other news, VP Benjamin R. Davies sold 1,156 shares of the firm’s stock in a transaction dated Monday, November 11th. The stock was 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 $286,183.41. This trade represents a 68.28 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Over the last ninety days, insiders have sold 1,255 shares of company stock worth $663,859. 0.22% of the stock is owned by company insiders.

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.