Invesco LLC Purchases 251 Shares of Northrop Grumman Co. (NYSE:NOC)

Invesco LLC raised its holdings in shares of Northrop Grumman Co. (NYSE:NOC) by 3.8% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 6,813 shares of the aerospace company’s stock after acquiring an additional 251 shares during the quarter. Northrop Grumman makes up approximately 1.3% of Invesco LLC’s holdings, making the stock its 17th biggest position. Invesco LLC’s holdings in Northrop Grumman were worth $3,197,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in NOC. RPg Family Wealth Advisory LLC acquired a new stake in Northrop Grumman in the 3rd quarter valued at $31,000. FSA Wealth Management LLC bought a new position in shares of Northrop Grumman in the 3rd quarter valued at about $36,000. Albion Financial Group UT acquired a new stake in shares of Northrop Grumman in the fourth quarter valued at about $33,000. Catalyst Capital Advisors LLC acquired a new position in Northrop Grumman during the third quarter valued at approximately $40,000. Finally, Modus Advisors LLC bought a new position in Northrop Grumman in the fourth quarter valued at approximately $38,000. 83.40% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Northrop Grumman

In related news, VP Benjamin R. Davies sold 1,156 shares of the firm’s stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $532.93, for a total value of $616,067.08. Following the sale, the vice president now directly owns 537 shares of the company’s stock, valued at $286,183.41. This trade represents a 68.28 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Over the last ninety days, insiders have sold 1,255 shares of company stock valued at $663,859. 0.22% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several analysts have issued reports on NOC shares. Royal Bank of Canada increased their price target on shares of Northrop Grumman from $500.00 to $540.00 and gave the company a “sector perform” rating in a research note on Friday, October 25th. TD Cowen raised shares of Northrop Grumman to a “hold” rating in a research report on Tuesday, October 8th. Barclays cut their target price on Northrop Grumman from $550.00 to $500.00 and set an “equal weight” rating for the company in a research report on Monday, January 6th. Wells Fargo & Company raised Northrop Grumman from an “equal weight” rating to an “overweight” rating and set a $595.00 target price on the stock in a report on Wednesday, January 8th. Finally, JPMorgan Chase & Co. upped their target price on Northrop Grumman from $500.00 to $560.00 and gave the stock a “neutral” rating in a report on Monday, October 14th. Eight investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Northrop Grumman currently has an average rating of “Moderate Buy” and an average price target of $550.94.

Northrop Grumman Stock Performance

Shares of NYSE NOC traded down $2.13 during trading on Wednesday, reaching $484.51. 63,934 shares of the stock traded hands, compared to its average volume of 795,032. The company has a debt-to-equity ratio of 1.00, a current ratio of 1.09 and a quick ratio of 0.97. The stock has a market capitalization of $70.59 billion, a P/E ratio of 30.02, a price-to-earnings-growth ratio of 0.95 and a beta of 0.35. Northrop Grumman Co. has a 52-week low of $418.60 and a 52-week high of $555.57. The company has a 50-day moving average of $478.87 and a 200-day moving average of $497.74.

Northrop Grumman announced that its board has initiated a share repurchase program on Wednesday, December 11th that authorizes the company to buyback $3.00 billion in shares. This buyback authorization authorizes the aerospace company to purchase up to 4.3% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board believes its stock is undervalued.

Northrop Grumman Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, December 18th. Stockholders of record on Monday, December 2nd were given a dividend of $2.06 per share. This represents a $8.24 annualized dividend and a dividend yield of 1.70%. The ex-dividend date of this dividend was Monday, December 2nd. Northrop Grumman’s dividend payout ratio is presently 51.05%.

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.