Logan Capital Management Inc. Has $3.58 Million Stock Holdings in Northrop Grumman Co. (NYSE:NOC)

Logan Capital Management Inc. decreased its holdings in shares of Northrop Grumman Co. (NYSE:NOC) by 6.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 6,786 shares of the aerospace company’s stock after selling 472 shares during the quarter. Logan Capital Management Inc.’s holdings in Northrop Grumman were worth $3,584,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in NOC. Van ECK Associates Corp lifted its holdings in shares of Northrop Grumman by 1,915.9% during the second quarter. Van ECK Associates Corp now owns 438,521 shares of the aerospace company’s stock worth $191,173,000 after buying an additional 416,768 shares during the last quarter. Two Sigma Advisers LP increased its position in Northrop Grumman by 102.6% during the third quarter. Two Sigma Advisers LP now owns 735,600 shares of the aerospace company’s stock worth $388,448,000 after acquiring an additional 372,500 shares during the period. Marshall Wace LLP acquired a new position in Northrop Grumman during the 2nd quarter valued at $74,206,000. Canada Pension Plan Investment Board boosted its holdings in Northrop Grumman by 113.6% in the 2nd quarter. Canada Pension Plan Investment Board now owns 296,844 shares of the aerospace company’s stock valued at $129,409,000 after purchasing an additional 157,854 shares during the period. Finally, Legal & General Group Plc boosted its holdings in Northrop Grumman by 16.0% in the 2nd quarter. Legal & General Group Plc now owns 1,087,913 shares of the aerospace company’s stock valued at $474,276,000 after purchasing an additional 150,367 shares during the period. Institutional investors and hedge funds own 83.40% of the company’s stock.

Northrop Grumman Price Performance

Shares of Northrop Grumman 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 firm’s 50-day moving average price is $506.77 and its two-hundred day moving average price is $487.97. 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 stock has a market capitalization of $69.94 billion, a price-to-earnings ratio of 29.74, a P/E/G ratio of 0.96 and a beta of 0.33.

Northrop Grumman (NYSE:NOC) last released its quarterly earnings results on Thursday, October 24th. The aerospace company reported $7.00 earnings per share for the quarter, beating analysts’ consensus estimates of $6.07 by $0.93. The firm had revenue of $10 billion during the quarter, compared to analysts’ expectations 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 was up 2.3% on a year-over-year basis. During the same period last year, the firm posted $6.18 EPS. On average, equities analysts predict that Northrop Grumman Co. will post 25.93 earnings per share for the current fiscal year.

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

Northrop Grumman Announces Dividend

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

Insider Buying and Selling

In related news, VP Benjamin R. Davies sold 1,156 shares of the business’s stock in a transaction that occurred on 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 transaction, 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 transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders have sold a total of 1,255 shares of company stock worth $666,461 in the last 90 days. Corporate insiders own 0.22% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently issued reports on NOC. TD Cowen upgraded shares of Northrop Grumman to a “hold” rating in a report on Tuesday, October 8th. Royal Bank of Canada boosted their price target on Northrop Grumman from $500.00 to $540.00 and gave the company a “sector perform” rating in a research note on Friday, October 25th. Citigroup raised their price objective on Northrop Grumman from $521.00 to $587.00 and gave the stock a “neutral” rating in a research report on Thursday, October 10th. Wells Fargo & Company cut their target price on Northrop Grumman from $565.00 to $505.00 and set an “equal weight” rating for the company in a research note 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. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have given a buy rating to the company. According to data from MarketBeat, Northrop Grumman has a consensus rating of “Hold” and an average price target of $546.81.

Northrop Grumman 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.