San Luis Wealth Advisors LLC Cuts Stake in Northrop Grumman Co. (NYSE:NOC)

San Luis Wealth Advisors LLC lessened its holdings in Northrop Grumman Co. (NYSE:NOC) by 22.8% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 1,096 shares of the aerospace company’s stock after selling 324 shares during the quarter. San Luis Wealth Advisors LLC’s holdings in Northrop Grumman were worth $514,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the business. RPg Family Wealth Advisory LLC acquired a new position in Northrop Grumman during the 3rd quarter worth $31,000. FSA Wealth Management LLC acquired a new stake in Northrop Grumman in the third quarter valued at approximately $36,000. Catalyst Capital Advisors LLC purchased a new position in Northrop Grumman in the third quarter worth approximately $40,000. Modus Advisors LLC purchased a new stake in shares of Northrop Grumman in the 4th quarter valued at approximately $38,000. Finally, True Wealth Design LLC acquired a new stake in Northrop Grumman in the third quarter valued at $53,000. Institutional investors and hedge funds own 83.40% of the company’s stock.

Insider Transactions at Northrop Grumman

In related news, VP Benjamin R. Davies sold 1,156 shares of the 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 transaction, the vice president now directly owns 537 shares in the company, valued at approximately $286,183.41. This represents a 68.28 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders have sold 1,255 shares of company stock worth $663,859 over the last quarter. 0.22% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. Citigroup upped their target price on Northrop Grumman from $521.00 to $587.00 and gave the company a “neutral” rating in a research report on Thursday, October 10th. StockNews.com cut Northrop Grumman from a “strong-buy” rating to a “buy” rating in a research note on Saturday. Royal Bank of Canada lifted their price objective on shares of Northrop Grumman from $500.00 to $540.00 and gave the company a “sector perform” rating in a research report on Friday, October 25th. JPMorgan Chase & Co. lifted their target price on shares of Northrop Grumman from $500.00 to $560.00 and gave the company a “neutral” rating in a report on Monday, October 14th. Finally, Susquehanna reduced their price objective 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. Nine investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $550.94.

Northrop Grumman Stock Performance

NYSE:NOC opened at $475.37 on Wednesday. Northrop Grumman Co. has a twelve month low of $418.60 and a twelve month high of $555.57. The company has a market capitalization of $69.26 billion, a P/E ratio of 29.45, a price-to-earnings-growth ratio of 0.97 and a beta of 0.35. 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 has a 50-day moving average price of $483.30 and a two-hundred day moving average price of $493.62.

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

Northrop Grumman announced that its board has initiated a stock buyback program on Wednesday, December 11th that authorizes the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization authorizes the aerospace company to repurchase up to 4.3% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s board believes its shares are undervalued.

Northrop Grumman Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, December 18th. Shareholders of record on Monday, December 2nd were paid a dividend of $2.06 per share. This represents a $8.24 dividend on an annualized basis and a dividend yield of 1.73%. The ex-dividend date of this dividend was Monday, December 2nd. Northrop Grumman’s dividend payout ratio is presently 51.05%.

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.