FormulaFolio Investments LLC Cuts Holdings in Northrop Grumman Co. (NYSE:NOC)


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FormulaFolio Investments LLC reduced its position in Northrop Grumman Co. (NYSE:NOC) by 18.5% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,677 shares of the aerospace company’s stock after selling 380 shares during the period. FormulaFolio Investments LLC’s holdings in Northrop Grumman were worth $511,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently added to or reduced their stakes in the company. Graves Light Private Wealth Management Inc. purchased a new position in shares of Northrop Grumman in the 4th quarter worth $28,000. Bellwether Advisors LLC purchased a new position in shares of Northrop Grumman in the 4th quarter worth $29,000. ELM Advisors LLC purchased a new stake in shares of Northrop Grumman in the fourth quarter valued at approximately $30,000. Carroll Financial Associates Inc. boosted its holdings in shares of Northrop Grumman by 56.1% in the fourth quarter. Carroll Financial Associates Inc. now owns 103 shares of the aerospace company’s stock valued at $31,000 after purchasing an additional 37 shares during the period. Finally, Hoover Financial Advisors Inc. purchased a new stake in shares of Northrop Grumman in the fourth quarter valued at approximately $36,000. Hedge funds and other institutional investors own 82.65% of the company’s stock.

Shares of NOC stock opened at $333.97 on Thursday. The business’s fifty day simple moving average is $307.18 and its 200-day simple moving average is $305.44. The company has a market cap of $55.68 billion, a PE ratio of 22.84 and a beta of 0.75. The company has a current ratio of 1.44, a quick ratio of 1.36 and a debt-to-equity ratio of 1.36. Northrop Grumman Co. has a 12-month low of $282.88 and a 12-month high of $357.12.

Northrop Grumman (NYSE:NOC) last released its earnings results on Thursday, January 28th. The aerospace company reported $6.59 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.70 by $0.89. Northrop Grumman had a return on equity of 40.02% and a net margin of 6.94%. The firm had revenue of $10.21 billion for the quarter, compared to the consensus estimate of $9.25 billion. During the same period in the prior year, the firm earned $5.61 EPS. The firm’s revenue was up 17.1% on a year-over-year basis. On average, equities analysts forecast that Northrop Grumman Co. will post 22.72 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 17th. Shareholders of record on Monday, March 1st were issued a $1.45 dividend. This represents a $5.80 annualized dividend and a yield of 1.74%. The ex-dividend date of this dividend was Friday, February 26th. Northrop Grumman’s payout ratio is 27.35%.

In other news, VP Janis G. Pamiljans sold 801 shares of the stock in a transaction dated Thursday, February 18th. The shares were sold at an average price of $295.80, for a total transaction of $236,935.80. Following the sale, the vice president now directly owns 12,466 shares of the company’s stock, valued at approximately $3,687,442.80. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, VP Shawn N. Purvis sold 4,389 shares of the stock in a transaction dated Friday, March 5th. The stock was sold at an average price of $300.25, for a total transaction of $1,317,797.25. Following the sale, the vice president now directly owns 3,608 shares in the company, valued at $1,083,302. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 14,286 shares of company stock worth $4,294,598. 0.27% of the stock is owned by corporate insiders.

A number of equities analysts recently commented on NOC shares. Morgan Stanley reduced their price objective on shares of Northrop Grumman from $453.00 to $447.00 and set an “overweight” rating for the company in a research note on Monday, February 8th. Robert W. Baird downgraded shares of Northrop Grumman from an “outperform” rating to a “neutral” rating and reduced their price objective for the stock from $386.00 to $331.00 in a research note on Thursday, January 7th. Susquehanna reduced their price objective on shares of Northrop Grumman from $380.00 to $350.00 and set a “positive” rating for the company in a research note on Friday, January 29th. They noted that the move was a valuation call. Credit Suisse Group reduced their price objective on shares of Northrop Grumman from $377.00 to $353.00 and set an “outperform” rating for the company in a research note on Friday, January 29th. Finally, Susquehanna Bancshares reduced their price objective on shares of Northrop Grumman from $380.00 to $350.00 and set a “positive” rating for the company in a research note on Friday, January 29th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and nine have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $373.08.

About Northrop Grumman

Northrop Grumman Corporation operates as an aerospace and defense company worldwide. The company operates through four segments: Aeronautics Systems, Defense Systems, Mission Systems, and Space Systems. The Aeronautics Systems segment designs, develops, manufactures, integrates, and sustains aircraft systems for strategic and tactical intelligence, surveillance, and reconnaissance (ISR) missions; and long-range strike aircraft systems, tactical fighter aircrafts, and airborne battle management systems.

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

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