Northrop Grumman Co. (NYSE:NOC) Shares Sold by Evermay Wealth Management LLC

Evermay Wealth Management LLC lowered its position in shares of Northrop Grumman Co. (NYSE:NOC) by 2.5% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 1,971 shares of the aerospace company’s stock after selling 50 shares during the quarter. Evermay Wealth Management LLC’s holdings in Northrop Grumman were worth $925,000 as of its most recent filing with the SEC.

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

Northrop Grumman Stock Performance

NYSE:NOC opened at $486.97 on Friday. The stock’s 50-day moving average is $478.20 and its 200-day moving average is $497.91. Northrop Grumman Co. has a 1-year low of $418.60 and a 1-year high of $555.57. The company has a current ratio of 1.09, a quick ratio of 0.97 and a debt-to-equity ratio of 1.00. The stock has a market cap of $70.95 billion, a P/E ratio of 30.17, a price-to-earnings-growth ratio of 0.91 and a beta of 0.35.

Northrop Grumman (NYSE:NOC) last announced its quarterly earnings results on Thursday, January 30th. The aerospace company reported $6.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.27 by $0.12. Northrop Grumman had a net margin of 5.79% and a return on equity of 26.57%. Equities research analysts anticipate that Northrop Grumman Co. will post 25.96 earnings per share for the current year.

Northrop Grumman Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, December 18th. Stockholders of record on Monday, December 2nd were given a dividend of $2.06 per share. This represents a $8.24 annualized dividend and a dividend yield of 1.69%. The ex-dividend date of this dividend was Monday, December 2nd. Northrop Grumman’s dividend payout ratio (DPR) is presently 29.08%.

Northrop Grumman declared that its Board of Directors has authorized a stock repurchase plan on Wednesday, December 11th that authorizes the company to buyback $3.00 billion in outstanding shares. This buyback authorization authorizes the aerospace company to repurchase up to 4.3% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s management believes its shares are undervalued.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on NOC shares. Citigroup upgraded shares of Northrop Grumman from a “neutral” rating to a “buy” rating and set a $587.00 price objective for the company in a research note on Tuesday, January 21st. Susquehanna cut their target price 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. Wells Fargo & Company lowered their target price on Northrop Grumman from $595.00 to $574.00 and set an “overweight” rating for the company in a research note on Friday. Barclays decreased their target price 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. Finally, JPMorgan Chase & Co. raised their price objective on Northrop Grumman from $500.00 to $560.00 and gave the company a “neutral” rating in a research report on Monday, October 14th. Eight analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $544.31.

Insider Buying and Selling

In related news, VP Benjamin R. Davies sold 1,156 shares of the business’s stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $532.93, for a total value of $616,067.08. Following the completion of the sale, the vice president now directly owns 537 shares of the company’s stock, valued at $286,183.41. The trade was a 68.28 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders sold 1,255 shares of company stock valued at $663,859 over the last quarter. Insiders own 0.22% of the company’s stock.

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.