Osborne Partners Capital Management LLC Reduces Stock Holdings in Northrop Grumman Co. (NYSE:NOC)

Osborne Partners Capital Management LLC lessened its stake in shares of Northrop Grumman Co. (NYSE:NOC) by 18.5% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 450 shares of the aerospace company’s stock after selling 102 shares during the quarter. Osborne Partners Capital Management LLC’s holdings in Northrop Grumman were worth $211,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of NOC. Cornell Pochily Investment Advisors Inc. lifted its stake in Northrop Grumman by 0.9% in the third quarter. Cornell Pochily Investment Advisors Inc. now owns 2,141 shares of the aerospace company’s stock valued at $1,131,000 after buying an additional 20 shares during the last quarter. Asset Dedication LLC lifted its stake in shares of Northrop Grumman by 1.0% in the 3rd quarter. Asset Dedication LLC now owns 2,025 shares of the aerospace company’s stock worth $1,069,000 after acquiring an additional 20 shares during the period. Foundations Investment Advisors LLC increased its stake in shares of Northrop Grumman by 1.4% during the third quarter. Foundations Investment Advisors LLC now owns 1,478 shares of the aerospace company’s stock worth $780,000 after acquiring an additional 20 shares during the period. PBMares Wealth Management LLC raised its holdings in Northrop Grumman by 0.5% during the third quarter. PBMares Wealth Management LLC now owns 4,421 shares of the aerospace company’s stock worth $2,335,000 after purchasing an additional 20 shares in the last quarter. Finally, Hudson Valley Investment Advisors Inc. ADV lifted its position in Northrop Grumman by 0.9% in the third quarter. Hudson Valley Investment Advisors Inc. ADV now owns 2,262 shares of the aerospace company’s stock valued at $1,194,000 after purchasing an additional 20 shares during the period. Institutional investors and hedge funds own 83.40% of the company’s stock.

Insider Buying and Selling

In related news, VP Benjamin R. Davies sold 1,156 shares of the stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $532.93, for a total transaction of $616,067.08. Following the completion of the sale, the vice president now owns 537 shares of the company’s stock, valued at approximately $286,183.41. This represents a 68.28 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In the last ninety days, insiders have sold 1,255 shares of company stock valued at $663,859. 0.22% of the stock is currently owned by company insiders.

Northrop Grumman Stock Up 0.7 %

NOC opened at $486.97 on Monday. Northrop Grumman Co. has a 12 month low of $418.60 and a 12 month high of $555.57. The business has a 50-day moving average of $478.20 and a two-hundred day moving average of $498.35. The company has a debt-to-equity ratio of 1.00, a current ratio of 1.09 and a quick ratio of 0.97. The stock has a market capitalization of $70.95 billion, a price-to-earnings ratio of 30.17, a price-to-earnings-growth ratio of 0.91 and a beta of 0.35.

Northrop Grumman (NYSE:NOC) last released its earnings results 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 net margin of 5.79% and a return on equity of 26.57%. On average, research analysts expect that Northrop Grumman Co. will post 25.96 earnings per share for the current year.

Northrop Grumman announced that its board has initiated a stock repurchase program on Wednesday, December 11th that allows the company to repurchase $3.00 billion in shares. This repurchase authorization allows the aerospace company to reacquire up to 4.3% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s leadership believes its shares are undervalued.

Northrop Grumman Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, December 18th. Stockholders of record on Monday, December 2nd were issued a dividend of $2.06 per share. The ex-dividend date of this dividend was Monday, December 2nd. This represents a $8.24 dividend on an annualized basis and a dividend yield of 1.69%. Northrop Grumman’s payout ratio is 51.05%.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the company. Royal Bank of Canada boosted their target price on Northrop Grumman from $500.00 to $540.00 and gave the stock a “sector perform” rating in a research report on Friday, October 25th. Citigroup raised Northrop Grumman from a “neutral” rating to a “buy” rating and set a $587.00 price target for the company in a research note on Tuesday, January 21st. TD Cowen raised shares of Northrop Grumman to a “hold” rating in a research note on Tuesday, October 8th. Wells Fargo & Company cut their target price 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. Finally, StockNews.com raised shares of Northrop Grumman from a “buy” rating to a “strong-buy” rating in a research note on Sunday, January 19th. Eight investment 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. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average 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.