Pines Wealth Management LLC Makes New Investment in Northrop Grumman Co. (NYSE:NOC)

Pines Wealth Management LLC purchased a new stake in Northrop Grumman Co. (NYSE:NOC) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 901 shares of the aerospace company’s stock, valued at approximately $413,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in NOC. Wellington Management Group LLP raised its stake in Northrop Grumman by 0.4% during the third quarter. Wellington Management Group LLP now owns 4,140,892 shares of the aerospace company’s stock worth $2,186,681,000 after purchasing an additional 17,596 shares during the period. Geode Capital Management LLC raised its position in shares of Northrop Grumman by 0.6% during the 3rd quarter. Geode Capital Management LLC now owns 3,003,360 shares of the aerospace company’s stock valued at $1,581,644,000 after buying an additional 18,791 shares during the period. Franklin Resources Inc. lifted its holdings in Northrop Grumman by 6.2% in the third quarter. Franklin Resources Inc. now owns 2,426,270 shares of the aerospace company’s stock valued at $1,315,729,000 after acquiring an additional 141,816 shares during the last quarter. Legal & General Group Plc grew its position in Northrop Grumman by 16.0% in the second quarter. Legal & General Group Plc now owns 1,087,913 shares of the aerospace company’s stock worth $474,276,000 after acquiring an additional 150,367 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its stake in Northrop Grumman by 0.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 809,445 shares of the aerospace company’s stock worth $427,444,000 after acquiring an additional 3,211 shares during the last quarter. Institutional investors and hedge funds own 83.40% of the company’s stock.

Northrop Grumman Stock Performance

Shares of NOC opened at $472.19 on Thursday. The stock has a 50-day simple moving average of $483.30 and a 200-day simple moving average of $493.62. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.97 and a current ratio of 1.09. Northrop Grumman Co. has a 1 year low of $418.60 and a 1 year high of $555.57. The stock has a market capitalization of $68.80 billion, a PE ratio of 29.26, a PEG ratio of 0.97 and a beta of 0.35.

Northrop Grumman (NYSE:NOC) last posted its quarterly earnings results on Thursday, October 24th. The aerospace company reported $7.00 EPS for the quarter, topping 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 company had revenue of $10 billion during the quarter, compared to analysts’ expectations of $10.18 billion. During the same quarter in the previous year, the business posted $6.18 EPS. The firm’s revenue was up 2.3% on a year-over-year basis. On average, analysts predict that Northrop Grumman Co. will post 25.93 earnings per share for the current fiscal year.

Northrop Grumman announced that its Board of Directors has authorized a share 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 purchase up to 4.3% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s board of directors believes its shares are undervalued.

Northrop Grumman Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, December 18th. Shareholders of record on Monday, December 2nd were issued a dividend of $2.06 per share. This represents a $8.24 dividend on an annualized basis and a yield of 1.75%. The ex-dividend date of this dividend was Monday, December 2nd. Northrop Grumman’s dividend payout ratio (DPR) is 51.05%.

Insider Transactions at Northrop Grumman

In other 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 transaction of $616,067.08. Following the completion of the sale, the vice president now owns 537 shares in the company, valued at approximately $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 can be accessed through this link. In the last ninety days, insiders sold 1,255 shares of company stock valued at $663,859. 0.22% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the company. TD Cowen raised Northrop Grumman to a “hold” rating in a research note on Tuesday, October 8th. Susquehanna lowered their target price on shares of Northrop Grumman from $625.00 to $557.00 and set a “positive” rating for the company in a research note on Wednesday, January 8th. Citigroup boosted their price target on shares of Northrop Grumman from $521.00 to $587.00 and gave the company a “neutral” rating in a research note on Thursday, October 10th. Royal Bank of Canada increased their price objective on shares of Northrop Grumman from $500.00 to $540.00 and gave the stock a “sector perform” rating in a research report on Friday, October 25th. Finally, Wells Fargo & Company raised Northrop Grumman from an “equal weight” rating to an “overweight” rating and set a $595.00 target price on the stock in a research report on Wednesday, January 8th. Nine investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, Northrop Grumman currently has an average rating of “Hold” and a consensus price target of $550.94.

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.