Heritage Wealth Advisors Trims Stake in Northrop Grumman Co. (NYSE:NOC)

Heritage Wealth Advisors reduced its stake in Northrop Grumman Co. (NYSE:NOC) by 17.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 594 shares of the aerospace company’s stock after selling 125 shares during the period. Heritage Wealth Advisors’ holdings in Northrop Grumman were worth $279,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of NOC. RPg Family Wealth Advisory LLC bought a new position in shares of Northrop Grumman in the 3rd quarter worth approximately $31,000. Whipplewood Advisors LLC purchased a new stake in Northrop Grumman in the fourth quarter worth $31,000. Albion Financial Group UT bought a new position in Northrop Grumman in the fourth quarter worth $33,000. FSA Wealth Management LLC purchased a new position in Northrop Grumman during the third quarter valued at $36,000. Finally, Modus Advisors LLC bought a new stake in shares of Northrop Grumman during the 4th quarter valued at $38,000. 83.40% of the stock is currently owned by hedge funds and other institutional investors.

Northrop Grumman Stock Performance

Shares of NOC stock opened at $506.88 on Wednesday. The company has a quick ratio of 0.91, a current ratio of 1.01 and a debt-to-equity ratio of 0.96. The company has a 50 day moving average price of $476.25 and a 200-day moving average price of $492.88. Northrop Grumman Co. has a 52 week low of $418.60 and a 52 week high of $555.57. The firm has a market capitalization of $73.37 billion, a PE ratio of 17.89, a P/E/G ratio of 3.73 and a beta of 0.31.

Northrop Grumman (NYSE:NOC) last posted its earnings results on Thursday, January 30th. The aerospace company reported $6.39 EPS for the quarter, topping analysts’ consensus estimates of $6.27 by $0.12. Northrop Grumman had a net margin of 10.17% and a return on equity of 26.24%. As a group, equities research analysts expect that Northrop Grumman Co. will post 28.05 earnings per share for the current year.

Northrop Grumman Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 19th. Shareholders of record on Monday, March 3rd were given a $2.06 dividend. The ex-dividend date was Monday, March 3rd. This represents a $8.24 annualized dividend and a yield of 1.63%. Northrop Grumman’s payout ratio is 29.08%.

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

Wall Street Analyst Weigh In

NOC has been the subject of several research reports. Citigroup increased their price target on shares of Northrop Grumman from $587.00 to $591.00 and gave the stock a “buy” rating in a research note on Monday, February 10th. UBS Group decreased their target price on shares of Northrop Grumman from $579.00 to $558.00 and set a “buy” rating for the company in a research note on Friday, January 31st. Argus raised Northrop Grumman to a “strong-buy” rating in a research report on Wednesday, February 26th. Wolfe Research upgraded Northrop Grumman from an “underperform” rating to a “peer perform” rating in a research note on Monday, February 3rd. Finally, Susquehanna lowered their price objective 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. Nine investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $542.88.

Insider Buying and Selling at Northrop Grumman

In other news, VP Benjamin R. Davies sold 464 shares of Northrop Grumman stock in a transaction on Friday, February 28th. The shares were sold at an average price of $460.75, for a total transaction of $213,788.00. Following the transaction, the vice president now owns 245 shares in the company, valued at $112,883.75. This trade represents a 65.44 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Kathy J. Warden sold 3,750 shares of the business’s stock in a transaction on Thursday, March 6th. The shares were sold at an average price of $475.65, for a total transaction of $1,783,687.50. Following the sale, the chief executive officer now directly owns 212,852 shares of the company’s stock, valued at approximately $101,243,053.80. The trade was a 1.73 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 4,505 shares of company stock worth $2,126,405 in the last three months. 0.22% of the stock is currently owned by company insiders.

Northrop Grumman Company 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.