Asset Dedication LLC Decreases Stock Position in Northrop Grumman Co. (NYSE:NOC)

Asset Dedication LLC cut its holdings in Northrop Grumman Co. (NYSE:NOC) by 17.1% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,678 shares of the aerospace company’s stock after selling 347 shares during the period. Asset Dedication LLC’s holdings in Northrop Grumman were worth $787,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in NOC. Trinity Street Asset Management LLP boosted its position in shares of Northrop Grumman by 3.8% in the fourth quarter. Trinity Street Asset Management LLP now owns 48,367 shares of the aerospace company’s stock valued at $22,698,000 after acquiring an additional 1,786 shares during the period. Y Intercept Hong Kong Ltd bought a new position in Northrop Grumman in the 3rd quarter valued at $604,000. Fisher Asset Management LLC grew its position in shares of Northrop Grumman by 2.6% during the 3rd quarter. Fisher Asset Management LLC now owns 212,514 shares of the aerospace company’s stock valued at $112,222,000 after purchasing an additional 5,334 shares in the last quarter. AIA Group Ltd increased its holdings in shares of Northrop Grumman by 20.0% in the third quarter. AIA Group Ltd now owns 7,458 shares of the aerospace company’s stock worth $3,938,000 after purchasing an additional 1,242 shares during the period. Finally, Parsons Capital Management Inc. RI raised its position in shares of Northrop Grumman by 1,316.9% in the fourth quarter. Parsons Capital Management Inc. RI now owns 16,139 shares of the aerospace company’s stock worth $7,574,000 after buying an additional 15,000 shares in the last quarter. 83.40% of the stock is currently owned by hedge funds and other institutional investors.

Northrop Grumman Stock Performance

Shares of NOC stock opened at $481.56 on Thursday. The company has a market capitalization of $70.16 billion, a P/E ratio of 29.84, a PEG ratio of 0.95 and a beta of 0.35. Northrop Grumman Co. has a fifty-two week low of $418.60 and a fifty-two week high of $555.57. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.97 and a current ratio of 1.09. The stock has a 50 day moving average price of $478.87 and a two-hundred day moving average price of $497.74.

Northrop Grumman Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, December 18th. Shareholders of record on Monday, December 2nd were given a $2.06 dividend. This represents a $8.24 dividend on an annualized basis and a dividend yield of 1.71%. The ex-dividend date was Monday, December 2nd. Northrop Grumman’s payout ratio is 51.05%.

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

Analysts Set New Price Targets

NOC has been the subject of several recent analyst reports. StockNews.com upgraded Northrop Grumman from a “buy” rating to a “strong-buy” rating in a research report on Sunday, January 19th. Susquehanna lowered their target price on shares of Northrop Grumman from $625.00 to $557.00 and set a “positive” rating on the stock in a research note on Wednesday, January 8th. Citigroup raised shares of 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. JPMorgan Chase & Co. raised their price objective on shares of Northrop Grumman from $500.00 to $560.00 and gave the company a “neutral” rating in a research report on Monday, October 14th. Finally, UBS Group upped their target price on shares of Northrop Grumman from $614.00 to $643.00 and gave the stock a “buy” rating in a research report on Friday, October 25th. Eight research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $550.94.

Insider Activity

In related news, VP Benjamin R. Davies sold 1,156 shares of the business’s stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $532.93, for a total transaction of $616,067.08. Following the transaction, the vice president now owns 537 shares in the company, valued at $286,183.41. The trade was a 68.28 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Over the last ninety days, insiders sold 1,255 shares of company stock valued at $663,859. Insiders own 0.22% of the company’s stock.

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.