Amalgamated Bank Sells 306 Shares of Northrop Grumman Co. (NYSE:NOC)

Amalgamated Bank lowered its position in shares of Northrop Grumman Co. (NYSE:NOC) by 1.1% in the 4th quarter, HoldingsChannel reports. The firm owned 26,769 shares of the aerospace company’s stock after selling 306 shares during the quarter. Amalgamated Bank’s holdings in Northrop Grumman were worth $12,562,000 at the end of the most recent reporting period.

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

Northrop Grumman Price Performance

NOC stock opened at $461.03 on Wednesday. The firm has a 50-day moving average of $469.99 and a 200 day moving average of $497.05. The company has a debt-to-equity ratio of 0.96, a current ratio of 1.01 and a quick ratio of 0.91. The company has a market cap of $66.74 billion, a P/E ratio of 16.27, a PEG ratio of 3.73 and a beta of 0.35. Northrop Grumman Co. has a 1 year low of $418.60 and a 1 year high of $555.57.

Northrop Grumman (NYSE:NOC) last announced its earnings results on Thursday, January 30th. The aerospace company reported $6.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.27 by $0.12. Northrop Grumman had a return on equity of 26.24% and a net margin of 10.17%. On average, sell-side analysts forecast that Northrop Grumman Co. will post 28.05 EPS for the current year.

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

Northrop Grumman Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 19th. Stockholders of record on Monday, March 3rd will be issued a dividend of $2.06 per share. This represents a $8.24 dividend on an annualized basis and a dividend yield of 1.79%. The ex-dividend date of this dividend is Monday, March 3rd. Northrop Grumman’s dividend payout ratio (DPR) is presently 29.08%.

Insider Transactions at Northrop Grumman

In related news, VP Benjamin R. Davies sold 192 shares of the business’s stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $429.08, for a total transaction of $82,383.36. Following the sale, the vice president now owns 709 shares of the company’s stock, valued at $304,217.72. The trade was a 21.31 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders have sold 291 shares of company stock valued at $129,184 in the last three months. 0.22% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several analysts have issued reports on the stock. Wells Fargo & Company cut their price target on shares of Northrop Grumman from $595.00 to $574.00 and set an “overweight” rating for the company in a research report on Friday, January 31st. StockNews.com lowered Northrop Grumman from a “strong-buy” rating to a “buy” rating in a research report on Monday, February 3rd. UBS Group lowered their price objective on Northrop Grumman from $579.00 to $558.00 and set a “buy” rating for the company in a research report on Friday, January 31st. Barclays cut their target price on shares of Northrop Grumman from $550.00 to $500.00 and set an “equal weight” rating on the stock in a report on Monday, January 6th. Finally, Wolfe Research upgraded shares of Northrop Grumman from an “underperform” rating to a “peer perform” rating in a report on Monday, February 3rd. Nine analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $544.56.

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.