Northrop Grumman Co. (NYSE:NOC) Shares Sold by Fourpath Capital Management LLC

Fourpath Capital Management LLC lessened its holdings in shares of Northrop Grumman Co. (NYSE:NOC) by 5.7% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,940 shares of the aerospace company’s stock after selling 179 shares during the quarter. Fourpath Capital Management LLC’s holdings in Northrop Grumman were worth $1,380,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Two Sigma Advisers LP boosted its position in Northrop Grumman by 102.6% in the 3rd quarter. Two Sigma Advisers LP now owns 735,600 shares of the aerospace company’s stock valued at $388,448,000 after buying an additional 372,500 shares during the period. Franklin Resources Inc. increased its holdings in Northrop Grumman by 6.2% during the 3rd quarter. Franklin Resources Inc. now owns 2,426,270 shares of the aerospace company’s stock worth $1,315,729,000 after purchasing an additional 141,816 shares during the period. Wedge Capital Management L L P NC acquired a new stake in Northrop Grumman in the 4th quarter valued at about $66,171,000. International Assets Investment Management LLC purchased a new position in shares of Northrop Grumman in the 4th quarter valued at about $622,000. Finally, National Bank of Canada FI increased its holdings in shares of Northrop Grumman by 154.7% in the 3rd quarter. National Bank of Canada FI now owns 157,601 shares of the aerospace company’s stock valued at $83,224,000 after acquiring an additional 95,724 shares during the last quarter. Hedge funds and other institutional investors own 83.40% of the company’s stock.

Insider Activity at Northrop Grumman

In related news, VP Benjamin R. Davies sold 1,156 shares of the firm’s stock in a transaction dated Monday, November 11th. The shares were 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 owns 537 shares in the company, valued at $286,183.41. This trade represents 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 at this link. Insiders have sold a total of 1,222 shares of company stock worth $647,025 over the last three months. 0.22% of the stock is currently owned by corporate insiders.

Northrop Grumman Stock Performance

NYSE:NOC opened at $487.87 on Tuesday. 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 firm has a market cap of $70.62 billion, a price-to-earnings ratio of 17.21, a price-to-earnings-growth ratio of 0.91 and a beta of 0.35. The firm’s fifty day moving average price is $478.20 and its 200 day moving average price is $498.76. Northrop Grumman Co. has a 1-year low of $418.60 and a 1-year high of $555.57.

Northrop Grumman (NYSE:NOC) last issued its quarterly earnings results on Thursday, January 30th. The aerospace company reported $6.39 earnings per share (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%. On average, sell-side analysts expect that Northrop Grumman Co. will post 28.04 EPS for the current year.

Northrop Grumman announced that its board has initiated a share 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 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.

Northrop Grumman Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, December 18th. Stockholders of record on Monday, December 2nd were issued a $2.06 dividend. The ex-dividend date was Monday, December 2nd. This represents a $8.24 annualized dividend and a dividend yield of 1.69%. Northrop Grumman’s dividend payout ratio is currently 29.08%.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the company. Royal Bank of Canada upped their price target on Northrop Grumman from $500.00 to $540.00 and gave the company a “sector perform” rating in a report on Friday, October 25th. JPMorgan Chase & Co. increased their target price on shares of Northrop Grumman from $500.00 to $560.00 and gave the company a “neutral” rating in a research report on Monday, October 14th. Citigroup raised shares of Northrop Grumman from a “neutral” rating to a “buy” rating and set a $587.00 price target for the company in a research report on Tuesday, January 21st. TD Cowen upgraded Northrop Grumman to a “hold” rating in a research report on Tuesday, October 8th. Finally, Susquehanna reduced their target price on Northrop Grumman from $625.00 to $557.00 and set a “positive” rating for the company in a report on Wednesday, January 8th. Nine research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $544.31.

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.