Northrop Grumman Co. (NYSE:NOC) Stake Lifted by Truist Financial Corp

Truist Financial Corp increased its position in shares of Northrop Grumman Co. (NYSE:NOC) by 1.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 51,184 shares of the aerospace company’s stock after purchasing an additional 596 shares during the period. Truist Financial Corp’s holdings in Northrop Grumman were worth $23,961,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Wesbanco Bank Inc. boosted its position in shares of Northrop Grumman by 1.2% during the 3rd quarter. Wesbanco Bank Inc. now owns 1,782 shares of the aerospace company’s stock valued at $784,000 after purchasing an additional 21 shares in the last quarter. Ausdal Financial Partners Inc. grew its position in Northrop Grumman by 4.4% in the fourth quarter. Ausdal Financial Partners Inc. now owns 524 shares of the aerospace company’s stock worth $245,000 after buying an additional 22 shares during the last quarter. Secure Asset Management LLC increased its holdings in shares of Northrop Grumman by 2.7% in the fourth quarter. Secure Asset Management LLC now owns 844 shares of the aerospace company’s stock valued at $395,000 after buying an additional 22 shares in the last quarter. Simon Quick Advisors LLC lifted its position in shares of Northrop Grumman by 4.0% during the 3rd quarter. Simon Quick Advisors LLC now owns 604 shares of the aerospace company’s stock valued at $266,000 after acquiring an additional 23 shares during the last quarter. Finally, Venturi Wealth Management LLC boosted its stake in shares of Northrop Grumman by 16.2% during the 3rd quarter. Venturi Wealth Management LLC now owns 165 shares of the aerospace company’s stock worth $73,000 after acquiring an additional 23 shares in the last quarter. 83.40% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on NOC. Royal Bank of Canada boosted their target price on Northrop Grumman from $450.00 to $475.00 and gave the stock a “sector perform” rating in a research report on Friday. TheStreet downgraded Northrop Grumman from a “b+” rating to a “c+” rating in a report on Thursday, January 25th. Alembic Global Advisors upgraded shares of Northrop Grumman from a “neutral” rating to an “overweight” rating and set a $532.00 target price for the company in a report on Monday, April 22nd. Robert W. Baird boosted their price target on shares of Northrop Grumman from $475.00 to $505.00 and gave the company a “neutral” rating in a report on Friday. Finally, Susquehanna upped their price target on shares of Northrop Grumman from $540.00 to $560.00 and gave the company a “positive” rating in a research report on Friday. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $503.00.

Insider Transactions at Northrop Grumman

In related news, CAO Michael A. Hardesty sold 210 shares of the company’s stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $454.68, for a total transaction of $95,482.80. Following the completion of the transaction, the chief accounting officer now directly owns 3,127 shares in the company, valued at approximately $1,421,784.36. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In related news, CAO Michael A. Hardesty sold 210 shares of Northrop Grumman stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $454.68, for a total transaction of $95,482.80. Following the sale, the chief accounting officer now directly owns 3,127 shares of the company’s stock, valued at $1,421,784.36. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, VP Kathryn G. Simpson sold 711 shares of the company’s stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $453.22, for a total value of $322,239.42. Following the completion of the transaction, the vice president now directly owns 2,024 shares of the company’s stock, valued at approximately $917,317.28. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 3,149 shares of company stock worth $1,421,147. Insiders own 0.22% of the company’s stock.

Northrop Grumman Stock Up 1.2 %

Northrop Grumman stock opened at $486.22 on Tuesday. The firm has a market cap of $71.96 billion, a price-to-earnings ratio of 34.00, a P/E/G ratio of 1.93 and a beta of 0.35. The firm has a fifty day moving average price of $463.30 and a two-hundred day moving average price of $465.78. Northrop Grumman Co. has a fifty-two week low of $414.56 and a fifty-two week high of $496.89. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.13 and a quick ratio of 1.02.

Northrop Grumman (NYSE:NOC) last posted its quarterly earnings data on Thursday, April 25th. The aerospace company reported $6.32 earnings per share for the quarter, topping the consensus estimate of $5.83 by $0.49. The business had revenue of $10.13 billion during the quarter, compared to analysts’ expectations of $9.77 billion. Northrop Grumman had a return on equity of 24.09% and a net margin of 5.38%. The firm’s revenue was up 8.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $5.50 EPS. As a group, analysts forecast that Northrop Grumman Co. will post 24.7 earnings per share for the current year.

Northrop Grumman Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 13th. Stockholders of record on Monday, February 26th were given a $1.87 dividend. The ex-dividend date was Friday, February 23rd. This represents a $7.48 annualized dividend and a dividend yield of 1.54%. Northrop Grumman’s dividend payout ratio is 52.31%.

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.