Mutual of America Capital Management LLC Lowers Stake in Northrop Grumman Co. (NYSE:NOC)

Mutual of America Capital Management LLC reduced its position in shares of Northrop Grumman Co. (NYSE:NOC) by 3.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 16,384 shares of the aerospace company’s stock after selling 522 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Northrop Grumman were worth $7,689,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. RPg Family Wealth Advisory LLC purchased a new stake in shares of Northrop Grumman during the 3rd quarter worth about $31,000. Whipplewood Advisors LLC purchased a new stake in shares of Northrop Grumman during the 4th quarter worth about $31,000. Albion Financial Group UT purchased a new stake in shares of Northrop Grumman during the 4th quarter worth about $33,000. FSA Wealth Management LLC purchased a new stake in shares of Northrop Grumman during the 3rd quarter worth about $36,000. Finally, Modus Advisors LLC purchased a new stake in shares of Northrop Grumman during the 4th quarter worth about $38,000. 83.40% of the stock is owned by hedge funds and other institutional investors.

Northrop Grumman Trading Up 0.4 %

Shares of NOC opened at $461.74 on Monday. The company has a current ratio of 1.01, a quick ratio of 0.91 and a debt-to-equity ratio of 0.96. Northrop Grumman Co. has a 12-month low of $418.60 and a 12-month high of $555.57. The firm has a 50-day moving average price of $469.44 and a 200 day moving average price of $496.12. The firm has a market capitalization of $66.84 billion, a P/E ratio of 16.29, a P/E/G ratio of 3.73 and a beta of 0.35.

Northrop Grumman (NYSE:NOC) last announced its quarterly earnings data on Thursday, January 30th. The aerospace company reported $6.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $6.27 by $0.12. Northrop Grumman had a net margin of 10.17% and a return on equity of 26.24%. Sell-side analysts forecast that Northrop Grumman Co. will post 28.05 EPS for the current year.

Northrop Grumman Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 19th. Investors of record on Monday, March 3rd will be issued a $2.06 dividend. This represents a $8.24 dividend on an annualized basis and a dividend yield of 1.78%. The ex-dividend date of this dividend is Monday, March 3rd. Northrop Grumman’s dividend payout ratio is currently 29.08%.

Northrop Grumman declared that its Board of Directors has authorized a stock buyback program on Wednesday, December 11th that authorizes the company to buyback $3.00 billion in shares. This buyback authorization authorizes the aerospace company to reacquire up to 4.3% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s board of directors believes its stock is undervalued.

Analysts Set New Price Targets

Several research analysts recently weighed in on the stock. Citigroup upped their price target on shares of Northrop Grumman from $587.00 to $591.00 and gave the stock a “buy” rating in a research report on Monday, February 10th. Wells Fargo & Company reduced their price target on shares of Northrop Grumman from $574.00 to $545.00 and set an “overweight” rating for the company in a research report on Wednesday, February 26th. Argus upgraded shares of Northrop Grumman to a “strong-buy” rating in a research report on Wednesday, February 26th. Barclays reduced their price target on shares of 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. Finally, StockNews.com downgraded shares of Northrop Grumman from a “strong-buy” rating to a “buy” rating in a research report on Monday, February 3rd. Nine investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $542.75.

Insider Activity at Northrop Grumman

In related news, VP Benjamin R. Davies sold 192 shares of the company’s stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $429.08, for a total value of $82,383.36. Following the completion of the sale, the vice president now owns 709 shares of the company’s stock, valued at approximately $304,217.72. This represents a 21.31 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Over the last quarter, insiders sold 291 shares of company stock valued at $129,184. 0.22% of the stock is owned by company insiders.

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.