Pinnacle Wealth Management Advisory Group LLC Cuts Position in Northrop Grumman Co. (NYSE:NOC)

Pinnacle Wealth Management Advisory Group LLC decreased its holdings in shares of Northrop Grumman Co. (NYSE:NOC) by 8.2% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 547 shares of the aerospace company’s stock after selling 49 shares during the period. Pinnacle Wealth Management Advisory Group LLC’s holdings in Northrop Grumman were worth $257,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the business. James Investment Research Inc. boosted its stake in Northrop Grumman by 0.5% in the 4th quarter. James Investment Research Inc. now owns 5,666 shares of the aerospace company’s stock worth $2,659,000 after purchasing an additional 26 shares in the last quarter. Principal Securities Inc. lifted its stake in shares of Northrop Grumman by 96.2% in the fourth quarter. Principal Securities Inc. now owns 2,313 shares of the aerospace company’s stock worth $1,086,000 after buying an additional 1,134 shares in the last quarter. Legacy Capital Wealth Partners LLC lifted its stake in shares of Northrop Grumman by 39.0% in the fourth quarter. Legacy Capital Wealth Partners LLC now owns 624 shares of the aerospace company’s stock worth $293,000 after buying an additional 175 shares in the last quarter. Congress Asset Management Co. grew its holdings in shares of Northrop Grumman by 26.3% during the fourth quarter. Congress Asset Management Co. now owns 750 shares of the aerospace company’s stock valued at $352,000 after buying an additional 156 shares during the last quarter. Finally, Manchester Capital Management LLC increased its position in shares of Northrop Grumman by 36.4% during the fourth quarter. Manchester Capital Management LLC now owns 180 shares of the aerospace company’s stock valued at $84,000 after acquiring an additional 48 shares in the last quarter. 83.40% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have commented on the company. Royal Bank of Canada increased their target price on Northrop Grumman from $500.00 to $540.00 and gave the company a “sector perform” rating in a research note on Friday, October 25th. Susquehanna dropped their price objective on Northrop Grumman from $625.00 to $557.00 and set a “positive” rating on the stock in a research report on Wednesday, January 8th. Wolfe Research upgraded Northrop Grumman from an “underperform” rating to a “peer perform” rating in a report on Monday, February 3rd. Citigroup upped their target price on shares of Northrop Grumman from $587.00 to $591.00 and gave the company a “buy” rating in a research note on Monday, February 10th. Finally, Barclays decreased their price objective on shares of Northrop Grumman from $550.00 to $500.00 and set an “equal weight” rating for the company in a report on Monday, January 6th. Nine analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $544.56.

Northrop Grumman Stock Down 3.6 %

NYSE NOC opened at $438.70 on Tuesday. Northrop Grumman Co. has a 52 week low of $418.60 and a 52 week high of $555.57. The company has a quick ratio of 0.91, a current ratio of 1.01 and a debt-to-equity ratio of 0.96. The company has a market capitalization of $63.51 billion, a P/E ratio of 15.48, a price-to-earnings-growth ratio of 3.00 and a beta of 0.35. The stock’s 50-day moving average price is $474.95 and its 200-day moving average price is $499.39.

Northrop Grumman (NYSE:NOC) last released its earnings results on Thursday, January 30th. The aerospace company reported $6.39 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, equities research analysts predict that Northrop Grumman Co. will post 27.94 earnings per share for the current year.

Northrop Grumman Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, December 18th. Shareholders of record on Monday, December 2nd were paid a $2.06 dividend. The ex-dividend date was Monday, December 2nd. This represents a $8.24 dividend on an annualized basis and a yield of 1.88%. Northrop Grumman’s payout ratio is presently 29.08%.

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

Northrop Grumman Company 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.