Courier Capital LLC Trims Holdings in Northrop Grumman Co. (NYSE:NOC)

Courier Capital LLC lessened its holdings in shares of Northrop Grumman Co. (NYSE:NOC) by 15.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,279 shares of the aerospace company’s stock after selling 799 shares during the period. Courier Capital LLC’s holdings in Northrop Grumman were worth $2,008,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently added to or reduced their stakes in 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. lifted its stake in Northrop Grumman by 245.5% in the 2nd 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 in the last quarter. FSA Wealth Management LLC acquired a new stake in Northrop Grumman in the 3rd quarter worth about $36,000. Modus Advisors LLC purchased a new stake in Northrop Grumman during the 4th quarter worth approximately $38,000. Finally, Catalyst Capital Advisors LLC acquired a new position in shares of Northrop Grumman during the third quarter valued at approximately $40,000. 83.40% of the stock is owned by hedge funds and other institutional investors.

Northrop Grumman Stock Performance

Shares of NYSE NOC traded up $14.40 during trading hours on Monday, reaching $473.09. The stock had a trading volume of 964,465 shares, compared to its average volume of 790,472. The firm has a market cap of $68.93 billion, a price-to-earnings ratio of 29.31, a PEG ratio of 0.97 and a beta of 0.35. Northrop Grumman Co. has a fifty-two week low of $418.60 and a fifty-two week high of $555.57. The firm has a 50-day moving average of $484.74 and a 200-day moving average of $493.07. The company has a current ratio of 1.09, a quick ratio of 0.97 and a debt-to-equity ratio of 1.00.

Northrop Grumman (NYSE:NOC) last released its quarterly earnings results on Thursday, October 24th. The aerospace company reported $7.00 EPS for the quarter, beating the consensus estimate of $6.07 by $0.93. The firm had revenue of $10 billion during 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%. Northrop Grumman’s revenue for the quarter was up 2.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $6.18 EPS. Equities research analysts predict that Northrop Grumman Co. will post 25.93 earnings per share for the current year.

Northrop Grumman Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, December 18th. Shareholders 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 dividend yield of 1.74%. Northrop Grumman’s dividend payout ratio (DPR) is currently 51.05%.

Northrop Grumman declared that its board has authorized a share buyback program on Wednesday, December 11th that authorizes the company to buyback $3.00 billion in outstanding shares. This buyback authorization authorizes the aerospace company to purchase up to 4.3% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s leadership believes its stock is undervalued.

Wall Street Analyst Weigh In

Several brokerages recently commented on NOC. Citigroup boosted their price target on Northrop Grumman from $521.00 to $587.00 and gave the stock a “neutral” rating in a research report on Thursday, October 10th. Susquehanna cut their price objective on Northrop Grumman from $625.00 to $557.00 and set a “positive” rating for the company in a research report on Wednesday, January 8th. TD Cowen raised Northrop Grumman to a “hold” rating in a research report on Tuesday, October 8th. Barclays lowered their price target on Northrop Grumman from $550.00 to $500.00 and set an “equal weight” rating for the company in a research report on Monday, January 6th. Finally, UBS Group increased their target price on Northrop Grumman from $614.00 to $643.00 and gave the stock a “buy” rating in a research note on Friday, October 25th. Nine investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, Northrop Grumman has an average rating of “Hold” and a consensus target price of $551.40.

Insider Transactions at Northrop Grumman

In related 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 value 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. This trade represents a 68.28 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders sold 1,255 shares of company stock worth $663,859 over the last 90 days. 0.22% of the stock is currently owned by insiders.

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.