Redmond Asset Management LLC Makes New Investment in Northrop Grumman Co. (NYSE:NOC)

Redmond Asset Management LLC acquired a new position in shares of Northrop Grumman Co. (NYSE:NOC) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 978 shares of the aerospace company’s stock, valued at approximately $459,000.

Several other hedge funds and other institutional investors also recently modified their holdings of NOC. Private Advisor Group LLC increased its stake in shares of Northrop Grumman by 13.0% in the 3rd quarter. Private Advisor Group LLC now owns 9,107 shares of the aerospace company’s stock valued at $4,810,000 after purchasing an additional 1,049 shares during the last quarter. Silver Oak Securities Incorporated bought a new position in shares of Northrop Grumman in the 3rd quarter valued at $392,000. Ballentine Partners LLC increased its stake in shares of Northrop Grumman by 12.6% in the 3rd quarter. Ballentine Partners LLC now owns 1,425 shares of the aerospace company’s stock valued at $753,000 after purchasing an additional 159 shares during the last quarter. Trueblood Wealth Management LLC bought a new position in shares of Northrop Grumman in the 3rd quarter valued at $232,000. Finally, Signet Investment Advisory Group Inc. increased its stake in shares of Northrop Grumman by 3.9% in the 3rd quarter. Signet Investment Advisory Group Inc. now owns 4,377 shares of the aerospace company’s stock valued at $2,311,000 after purchasing an additional 165 shares during the last quarter. Institutional investors own 83.40% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on NOC shares. Susquehanna cut 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. Wells Fargo & Company cut their price objective on Northrop Grumman from $595.00 to $574.00 and set an “overweight” rating on the stock in a report on Friday, January 31st. StockNews.com downgraded Northrop Grumman from a “strong-buy” rating to a “buy” rating in a report on Monday, February 3rd. Barclays cut 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, UBS Group cut their price objective on Northrop Grumman from $579.00 to $558.00 and set a “buy” rating on the stock in a report on Friday, January 31st. Nine equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $544.56.

Northrop Grumman Stock Up 2.4 %

Shares of NOC opened at $448.59 on Friday. The company has a market capitalization of $64.94 billion, a PE ratio of 15.83, a PEG ratio of 3.73 and a beta of 0.35. 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 stock’s 50-day moving average price is $471.03 and its two-hundred day moving average price is $497.52. Northrop Grumman Co. has a 12 month low of $418.60 and a 12 month high of $555.57.

Northrop Grumman (NYSE:NOC) last announced 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%. On average, analysts anticipate that Northrop Grumman Co. will post 28.05 EPS for the current year.

Northrop Grumman Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 19th. Stockholders of record on Monday, March 3rd will be paid a $2.06 dividend. This represents a $8.24 dividend on an annualized basis and a dividend yield of 1.84%. The ex-dividend date of this dividend is Monday, March 3rd. Northrop Grumman’s dividend payout ratio is 29.08%.

Northrop Grumman declared that its Board of Directors has initiated a share repurchase 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 shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board of directors believes its shares are undervalued.

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.