Proficio Capital Partners LLC Takes Position in Northrop Grumman Co. (NYSE:NOC)

Proficio Capital Partners LLC purchased a new position in shares of Northrop Grumman Co. (NYSE:NOC) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 201,090 shares of the aerospace company’s stock, valued at approximately $94,370,000. Proficio Capital Partners LLC owned approximately 0.14% of Northrop Grumman as of its most recent filing with the Securities and Exchange Commission.

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

Northrop Grumman Price Performance

Shares of NYSE NOC opened at $459.90 on Friday. Northrop Grumman Co. has a twelve month low of $418.60 and a twelve month high of $555.57. The company has a current ratio of 1.01, a quick ratio of 0.91 and a debt-to-equity ratio of 0.96. The company has a market capitalization of $66.57 billion, a price-to-earnings ratio of 16.23, a price-to-earnings-growth ratio of 3.73 and a beta of 0.35. The business has a 50 day simple moving average of $469.59 and a 200-day simple moving average of $496.50.

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

Northrop Grumman declared 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 reacquire up to 4.3% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.

Northrop Grumman Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 19th. Investors of record on Monday, March 3rd will be given a dividend of $2.06 per share. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $8.24 dividend on an annualized basis and a yield of 1.79%. Northrop Grumman’s dividend payout ratio is currently 29.08%.

Insider Activity at Northrop Grumman

In related news, VP Benjamin R. Davies sold 192 shares of the business’s stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $429.08, for a total transaction of $82,383.36. Following the completion of the transaction, the vice president now owns 709 shares in the company, valued at $304,217.72. The trade was a 21.31 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders sold 291 shares of company stock worth $129,184 in the last 90 days. 0.22% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several research firms recently commented on NOC. UBS Group reduced their price target on Northrop Grumman from $579.00 to $558.00 and set a “buy” rating on the stock in a research report on Friday, January 31st. Citigroup lifted their price objective on Northrop Grumman from $587.00 to $591.00 and gave the stock a “buy” rating in a report on Monday, February 10th. Susquehanna dropped their price objective on Northrop Grumman from $625.00 to $557.00 and set a “positive” rating on the stock in a report on Wednesday, January 8th. Barclays dropped their price objective on 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 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 assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $542.75.

Northrop Grumman 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.