US Bancorp DE Has $51.85 Million Stock Holdings in Northrop Grumman Co. (NYSE:NOC)

US Bancorp DE lessened its stake in Northrop Grumman Co. (NYSE:NOC) by 6.8% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 113,758 shares of the aerospace company’s stock after selling 8,262 shares during the quarter. US Bancorp DE owned 0.08% of Northrop Grumman worth $51,851,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in NOC. Cibc World Market Inc. grew its position in Northrop Grumman by 59.4% in the first quarter. Cibc World Market Inc. now owns 7,390 shares of the aerospace company’s stock worth $3,305,000 after acquiring an additional 2,753 shares in the last quarter. Vontobel Holding Ltd. raised its stake in Northrop Grumman by 41.4% during the 1st quarter. Vontobel Holding Ltd. now owns 3,445 shares of the aerospace company’s stock valued at $1,541,000 after purchasing an additional 1,008 shares during the last quarter. Prudential PLC acquired a new position in Northrop Grumman during the 1st quarter valued at $1,514,000. Sequoia Financial Advisors LLC raised its stake in Northrop Grumman by 21.6% during the 1st quarter. Sequoia Financial Advisors LLC now owns 1,390 shares of the aerospace company’s stock valued at $622,000 after purchasing an additional 247 shares during the last quarter. Finally, Zions Bancorporation N.A. raised its stake in Northrop Grumman by 11.0% during the 1st quarter. Zions Bancorporation N.A. now owns 1,890 shares of the aerospace company’s stock valued at $845,000 after purchasing an additional 187 shares during the last quarter. 82.40% of the stock is owned by institutional investors.

Northrop Grumman Price Performance

NYSE:NOC traded up $0.41 during mid-day trading on Thursday, reaching $465.40. 46,488 shares of the company were exchanged, compared to its average volume of 862,850. Northrop Grumman Co. has a 12 month low of $414.56 and a 12 month high of $549.87. The company has a fifty day moving average of $455.49 and a 200 day moving average of $448.22. The company has a quick ratio of 1.14, a current ratio of 1.28 and a debt-to-equity ratio of 0.87. The stock has a market cap of $70.18 billion, a PE ratio of 15.27, a PEG ratio of 8.45 and a beta of 0.42.

Northrop Grumman (NYSE:NOC) last issued its earnings results on Thursday, October 26th. The aerospace company reported $6.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.81 by $0.37. The company had revenue of $9.78 billion for the quarter, compared to analyst estimates of $9.58 billion. Northrop Grumman had a net margin of 12.07% and a return on equity of 24.24%. The company’s revenue for the quarter was up 9.0% on a year-over-year basis. During the same quarter last year, the firm earned $5.89 EPS. On average, research analysts anticipate that Northrop Grumman Co. will post 22.71 EPS for the current fiscal year.

Northrop Grumman Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 13th. Stockholders of record on Monday, November 27th will be paid a $1.87 dividend. This represents a $7.48 annualized dividend and a dividend yield of 1.61%. Northrop Grumman’s dividend payout ratio (DPR) is presently 24.54%.

Wall Street Analyst Weigh In

NOC has been the subject of several research analyst reports. Royal Bank of Canada reiterated an “outperform” rating and set a $500.00 target price on shares of Northrop Grumman in a research note on Thursday, August 3rd. Bank of America cut their target price on shares of Northrop Grumman from $655.00 to $615.00 and set a “buy” rating for the company in a research note on Friday, July 28th. Wells Fargo & Company cut their target price on shares of Northrop Grumman from $485.00 to $435.00 and set an “equal weight” rating for the company in a research note on Monday, September 18th. UBS Group started coverage on shares of Northrop Grumman in a research note on Tuesday, October 10th. They issued a “buy” rating and a $555.00 price objective for the company. Finally, Citigroup dropped their price objective on shares of Northrop Grumman from $502.00 to $485.00 and set a “neutral” rating for the company in a research note on Friday, July 28th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $500.20.

Insider Activity

In related news, VP Roshan S. Roeder sold 1,007 shares of Northrop Grumman stock in a transaction that occurred on Monday, October 9th. The shares were sold at an average price of $465.00, for a total transaction of $468,255.00. Following the transaction, the vice president now owns 913 shares of the company’s stock, valued at approximately $424,545. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, VP Mark A. Caylor sold 1,670 shares of Northrop Grumman stock in a transaction that occurred on Monday, November 6th. The shares were sold at an average price of $472.62, for a total transaction of $789,275.40. Following the transaction, the vice president now owns 12,900 shares of the company’s stock, valued at approximately $6,096,798. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Roshan S. Roeder sold 1,007 shares of the firm’s stock in a transaction that occurred on Monday, October 9th. The stock was sold at an average price of $465.00, for a total transaction of $468,255.00. Following the sale, the vice president now owns 913 shares in the company, valued at $424,545. The disclosure for this sale can be found here. Insiders own 0.26% of the company’s stock.

About Northrop Grumman

Northrop Grumman Corporation operates as an aerospace and defense company worldwide. The company's Aeronautics Systems segment designs, develops, manufactures, integrates, and sustains aircraft systems in the United States and internationally. 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.