Reston Wealth Management LLC Cuts Stock Position in Northrop Grumman Co. (NYSE:NOC)

Reston Wealth Management LLC lessened its stake in Northrop Grumman Co. (NYSE:NOC) by 12.2% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 718 shares of the aerospace company’s stock after selling 100 shares during the period. Reston Wealth Management LLC’s holdings in Northrop Grumman were worth $337,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Invesco LLC lifted its holdings in shares of Northrop Grumman by 3.8% during the fourth quarter. Invesco LLC now owns 6,813 shares of the aerospace company’s stock worth $3,197,000 after purchasing an additional 251 shares during the period. Allen Capital Group LLC lifted its holdings in shares of Northrop Grumman by 5.8% during the fourth quarter. Allen Capital Group LLC now owns 1,053 shares of the aerospace company’s stock worth $494,000 after purchasing an additional 58 shares during the period. Valicenti Advisory Services Inc. lifted its holdings in shares of Northrop Grumman by 5.0% during the fourth quarter. Valicenti Advisory Services Inc. now owns 9,808 shares of the aerospace company’s stock worth $4,603,000 after purchasing an additional 471 shares during the period. Strategic Blueprint LLC lifted its holdings in shares of Northrop Grumman by 15.9% during the fourth quarter. Strategic Blueprint LLC now owns 750 shares of the aerospace company’s stock worth $352,000 after purchasing an additional 103 shares during the period. Finally, Hantz Financial Services Inc. lifted its holdings in shares of Northrop Grumman by 14.4% during the fourth quarter. Hantz Financial Services Inc. now owns 11,714 shares of the aerospace company’s stock worth $5,497,000 after purchasing an additional 1,472 shares during the period. Hedge funds and other institutional investors own 83.40% of the company’s stock.

Northrop Grumman Price Performance

NOC stock opened at $481.56 on Thursday. 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 firm has a market capitalization of $70.16 billion, a P/E ratio of 29.84, a P/E/G ratio of 0.95 and a beta of 0.35. The business’s 50-day moving average is $478.87 and its two-hundred day moving average is $497.74. Northrop Grumman Co. has a 1 year low of $418.60 and a 1 year high of $555.57.

Northrop Grumman Announces Dividend

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

Northrop Grumman announced that its board has approved a stock repurchase plan on Wednesday, December 11th that allows the company to repurchase $3.00 billion in shares. This repurchase authorization allows the aerospace company to repurchase 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.

Wall Street Analysts Forecast Growth

NOC has been the subject of a number of analyst reports. TD Cowen raised Northrop Grumman to a “hold” rating in a research note on Tuesday, October 8th. StockNews.com raised Northrop Grumman from a “buy” rating to a “strong-buy” rating in a research note on Sunday, January 19th. Susquehanna dropped their price target on Northrop Grumman from $625.00 to $557.00 and set a “positive” rating for the company in a research report on Wednesday, January 8th. JPMorgan Chase & Co. boosted their price target on Northrop Grumman from $500.00 to $560.00 and gave the stock a “neutral” rating in a research report on Monday, October 14th. Finally, Barclays dropped their price target 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. Eight analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $550.94.

Insider Activity

In other Northrop Grumman news, VP Benjamin R. Davies sold 1,156 shares of Northrop Grumman stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $532.93, for a total value of $616,067.08. Following the transaction, the vice president now directly owns 537 shares in the company, valued at approximately $286,183.41. This trade represents a 68.28 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In the last 90 days, insiders have sold 1,255 shares of company stock worth $663,859. 0.22% of the stock is currently owned by insiders.

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.