Dana Investment Advisors Inc. Decreases Position in Northrop Grumman Co. (NOC)

Dana Investment Advisors Inc. reduced its stake in shares of Northrop Grumman Co. (NYSE:NOC) by 13.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 4,615 shares of the aerospace company’s stock after selling 720 shares during the quarter. Dana Investment Advisors Inc.’s holdings in Northrop Grumman were worth $1,130,000 as of its most recent filing with the SEC.

Other hedge funds also recently bought and sold shares of the company. Laurel Wealth Advisors LLC acquired a new stake in shares of Northrop Grumman during the fourth quarter worth approximately $27,000. Athena Capital Advisors LLC acquired a new stake in shares of Northrop Grumman during the fourth quarter worth approximately $31,000. Gantzert Investment Co. LLC ADV acquired a new stake in shares of Northrop Grumman during the fourth quarter worth approximately $32,000. Penserra Capital Management LLC boosted its holdings in shares of Northrop Grumman by 31.3% during the fourth quarter. Penserra Capital Management LLC now owns 168 shares of the aerospace company’s stock worth $41,000 after purchasing an additional 40 shares during the period. Finally, First Mercantile Trust Co. acquired a new stake in shares of Northrop Grumman during the fourth quarter worth approximately $47,000. Institutional investors and hedge funds own 84.13% of the company’s stock.

In other news, VP Mark A. Caylor sold 9,501 shares of Northrop Grumman stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $285.45, for a total value of $2,712,060.45. Following the transaction, the vice president now owns 25,280 shares of the company’s stock, valued at $7,216,176. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO Kenneth L. Bedingfield sold 1,750 shares of Northrop Grumman stock in a transaction that occurred on Wednesday, February 27th. The shares were sold at an average price of $286.36, for a total transaction of $501,130.00. Following the completion of the transaction, the chief financial officer now directly owns 40,705 shares in the company, valued at approximately $11,656,283.80. The disclosure for this sale can be found here. In the last three months, insiders sold 119,289 shares of company stock worth $34,274,861. Insiders own 0.62% of the company’s stock.

A number of analysts have issued reports on NOC shares. Argus reiterated a “buy” rating on shares of Northrop Grumman in a research note on Friday, February 1st. Citigroup reduced their target price on shares of Northrop Grumman from $350.00 to $333.00 and set a “buy” rating for the company in a research note on Monday, January 14th. Susquehanna Bancshares started coverage on shares of Northrop Grumman in a research note on Thursday, January 10th. They issued a “neutral” rating and a $273.00 target price for the company. Bank of America reiterated a “buy” rating and issued a $355.00 target price (down from $360.00) on shares of Northrop Grumman in a research note on Friday, February 1st. Finally, Drexel Hamilton set a $335.00 target price on shares of Northrop Grumman and gave the company a “buy” rating in a research note on Saturday, February 9th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and twelve have issued a buy rating to the company. Northrop Grumman presently has a consensus rating of “Buy” and a consensus target price of $336.39.

NYSE NOC opened at $271.21 on Friday. Northrop Grumman Co. has a 12-month low of $223.63 and a 12-month high of $360.88. The company has a market capitalization of $47.38 billion, a price-to-earnings ratio of 12.71, a price-to-earnings-growth ratio of 1.13 and a beta of 0.89. The company has a quick ratio of 1.09, a current ratio of 1.17 and a debt-to-equity ratio of 1.70.

Northrop Grumman (NYSE:NOC) last released its quarterly earnings results on Thursday, January 31st. The aerospace company reported $4.93 EPS for the quarter, beating the Zacks’ consensus estimate of $4.45 by $0.48. Northrop Grumman had a net margin of 9.73% and a return on equity of 41.24%. The company had revenue of $8.16 billion for the quarter, compared to analyst estimates of $8.11 billion. During the same quarter last year, the firm posted $2.82 earnings per share. As a group, analysts anticipate that Northrop Grumman Co. will post 18.94 EPS for the current fiscal year.

Northrop Grumman declared that its board has approved a share buyback plan on Tuesday, December 4th that permits the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization permits the aerospace company to reacquire up to 6.9% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s leadership believes its stock is undervalued.

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 13th. Stockholders of record on Monday, February 25th were given a $1.20 dividend. This represents a $4.80 dividend on an annualized basis and a dividend yield of 1.77%. The ex-dividend date was Friday, February 22nd. Northrop Grumman’s dividend payout ratio is 22.50%.

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About Northrop Grumman

Northrop Grumman Corporation, a security company, provides products in the areas of autonomous systems, cyber, space, strikes, and logistics and modernizations in the United States, the Asia Pacific, and internationally. The company operates through four segments: Aerospace Systems, Innovation Systems, Mission Systems, and Technology Services.

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Institutional Ownership by Quarter for Northrop Grumman (NYSE:NOC)

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