Pflug Koory LLC Raises Stock Position in Northrop Grumman Co. (NYSE:NOC)

Pflug Koory LLC grew its stake in shares of Northrop Grumman Co. (NYSE:NOC) by 0.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,370 shares of the aerospace company’s stock after purchasing an additional 24 shares during the period. Pflug Koory LLC’s holdings in Northrop Grumman were worth $1,582,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. RPg Family Wealth Advisory LLC bought a new stake in Northrop Grumman during the 3rd quarter valued at approximately $31,000. Albion Financial Group UT purchased a new position in shares of Northrop Grumman in the 4th quarter valued at approximately $33,000. FSA Wealth Management LLC bought a new stake in shares of Northrop Grumman during the third quarter valued at approximately $36,000. Modus Advisors LLC purchased a new stake in Northrop Grumman in the fourth quarter worth $38,000. Finally, Catalyst Capital Advisors LLC bought a new position in Northrop Grumman in the third quarter worth $40,000. Hedge funds and other institutional investors own 83.40% of the company’s stock.

Northrop Grumman Price Performance

NYSE NOC opened at $497.13 on Friday. The company has a debt-to-equity ratio of 1.00, a current ratio of 1.09 and a quick ratio of 0.97. 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 $72.43 billion, a price-to-earnings ratio of 30.80, a PEG ratio of 0.95 and a beta of 0.35. The business’s fifty day moving average price is $478.60 and its 200-day moving average price is $495.39.

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, topping the consensus estimate of $6.07 by $0.93. The business 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 company’s quarterly revenue was up 2.3% on a year-over-year basis. During the same period last year, the firm earned $6.18 earnings per share. On average, equities analysts predict that Northrop Grumman Co. will post 25.96 earnings per share for the current year.

Northrop Grumman declared that its board has approved a stock repurchase 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 buy up to 4.3% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s board believes its shares are undervalued.

Northrop Grumman Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, December 18th. Shareholders of record on Monday, December 2nd were given a $2.06 dividend. This represents a $8.24 dividend on an annualized basis and a yield of 1.66%. The ex-dividend date was Monday, December 2nd. Northrop Grumman’s payout ratio is 51.05%.

Insider Transactions at Northrop Grumman

In related news, VP Benjamin R. Davies sold 1,156 shares of Northrop Grumman stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $532.93, for a total transaction of $616,067.08. Following the sale, the vice president now owns 537 shares of the company’s stock, valued at approximately $286,183.41. This trade represents a 68.28 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders have sold 1,255 shares of company stock valued at $663,859 over the last quarter. 0.22% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

NOC has been the topic of a number of research reports. JPMorgan Chase & Co. boosted 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. Wells Fargo & Company upgraded shares of Northrop Grumman from an “equal weight” rating to an “overweight” rating and set a $595.00 price objective on the stock in a report on Wednesday, January 8th. Citigroup upgraded shares of Northrop Grumman from a “neutral” rating to a “buy” rating and set a $587.00 target price for the company in a report on Tuesday. Susquehanna cut their price target on Northrop Grumman from $625.00 to $557.00 and set a “positive” rating on the stock in a research note on Wednesday, January 8th. Finally, Royal Bank of Canada lifted their price objective 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. Eight investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Northrop Grumman currently has a consensus rating of “Moderate Buy” and a consensus target price of $550.94.

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.