Invesco LLC Raises Position in Northrop Grumman Co. (NYSE:NOC)

Invesco LLC raised its holdings in shares of Northrop Grumman Co. (NYSE:NOC) by 3.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 6,813 shares of the aerospace company’s stock after buying an additional 251 shares during the period. Northrop Grumman comprises approximately 1.3% of Invesco LLC’s portfolio, making the stock its 17th largest position. Invesco LLC’s holdings in Northrop Grumman were worth $3,197,000 as of its most recent SEC filing.

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

Northrop Grumman Stock Performance

NYSE:NOC traded down $2.13 on Wednesday, hitting $484.51. The stock had a trading volume of 63,934 shares, compared to its average volume of 795,032. Northrop Grumman Co. has a 52-week low of $418.60 and a 52-week high of $555.57. The stock has a market cap of $70.59 billion, a price-to-earnings ratio of 30.02, a price-to-earnings-growth ratio of 0.95 and a beta of 0.35. The company has a quick ratio of 0.97, a current ratio of 1.09 and a debt-to-equity ratio of 1.00. The business’s 50-day simple moving average is $478.87 and its two-hundred day simple moving average is $497.74.

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 given a $2.06 dividend. The ex-dividend date of this dividend was Monday, December 2nd. This represents a $8.24 annualized dividend and a yield of 1.70%. Northrop Grumman’s payout ratio is presently 51.05%.

Northrop Grumman declared that its board has authorized a stock buyback program on Wednesday, December 11th that allows the company to repurchase $3.00 billion in shares. This repurchase authorization allows the aerospace company to repurchase up to 4.3% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board of directors believes its stock is undervalued.

Analysts Set New Price Targets

A number of brokerages recently commented on NOC. Susquehanna dropped their price target on Northrop Grumman from $625.00 to $557.00 and set a “positive” rating for the company in a research note on Wednesday, January 8th. Wells Fargo & Company raised Northrop Grumman from an “equal weight” rating to an “overweight” rating and set a $595.00 price objective for the company in a research report on Wednesday, January 8th. Barclays lowered their price target on shares of 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. UBS Group raised their target price on shares of Northrop Grumman from $614.00 to $643.00 and gave the company a “buy” rating in a research note on Friday, October 25th. Finally, Royal Bank of Canada upped their price target on Northrop Grumman from $500.00 to $540.00 and gave the stock a “sector perform” rating in a research note on Friday, October 25th. Eight equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Northrop Grumman has a consensus rating of “Moderate Buy” and an average price target of $550.94.

Insider Transactions at Northrop Grumman

In other Northrop Grumman news, VP Benjamin R. Davies sold 1,156 shares of Northrop Grumman 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 transaction, the vice president now owns 537 shares of the company’s stock, valued at $286,183.41. The trade was 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 through the SEC website. Insiders have sold 1,255 shares of company stock worth $663,859 in 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.