Global Trust Asset Management LLC Sells 608 Shares of Northrop Grumman Corporation (NYSE:NOC)

Global Trust Asset Management LLC reduced its stake in shares of Northrop Grumman Corporation (NYSE:NOC - Free Report) by 48.3% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 651 shares of the aerospace company's stock after selling 608 shares during the period. Global Trust Asset Management LLC's holdings in Northrop Grumman were worth $333,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Redhawk Wealth Advisors Inc. grew its position in Northrop Grumman by 3.0% in the first quarter. Redhawk Wealth Advisors Inc. now owns 644 shares of the aerospace company's stock worth $330,000 after acquiring an additional 19 shares in the last quarter. Salvus Wealth Management LLC lifted its stake in shares of Northrop Grumman by 1.5% in the 1st quarter. Salvus Wealth Management LLC now owns 1,349 shares of the aerospace company's stock valued at $691,000 after purchasing an additional 20 shares during the last quarter. IAG Wealth Partners LLC boosted its holdings in Northrop Grumman by 8.4% in the first quarter. IAG Wealth Partners LLC now owns 271 shares of the aerospace company's stock worth $139,000 after purchasing an additional 21 shares in the last quarter. Bank Pictet & Cie Europe AG boosted its holdings in Northrop Grumman by 2.2% in the fourth quarter. Bank Pictet & Cie Europe AG now owns 1,006 shares of the aerospace company's stock worth $472,000 after purchasing an additional 22 shares in the last quarter. Finally, Jacobi Capital Management LLC increased its position in Northrop Grumman by 1.2% during the fourth quarter. Jacobi Capital Management LLC now owns 1,987 shares of the aerospace company's stock worth $933,000 after buying an additional 23 shares during the last quarter. 83.40% of the stock is owned by institutional investors and hedge funds.

Northrop Grumman Stock Performance

Shares of NOC traded up $3.27 during trading hours on Friday, reaching $497.92. 915,889 shares of the company traded hands, compared to its average volume of 884,727. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.84 and a current ratio of 0.95. The stock's fifty day moving average is $490.07 and its 200 day moving average is $482.87. Northrop Grumman Corporation has a 1-year low of $422.69 and a 1-year high of $555.57. The stock has a market cap of $71.67 billion, a P/E ratio of 19.65, a price-to-earnings-growth ratio of 5.40 and a beta of 0.14.

Northrop Grumman (NYSE:NOC - Get Free Report) last posted its quarterly earnings results on Tuesday, April 22nd. The aerospace company reported $6.06 EPS for the quarter, missing the consensus estimate of $6.33 by ($0.27). Northrop Grumman had a net margin of 9.19% and a return on equity of 25.46%. The firm had revenue of $9.47 billion during the quarter, compared to analyst estimates of $10.07 billion. Equities research analysts anticipate that Northrop Grumman Corporation will post 28.05 earnings per share for the current fiscal year.

Northrop Grumman Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 18th. Shareholders of record on Monday, June 2nd were paid a dividend of $2.31 per share. The ex-dividend date of this dividend was Monday, June 2nd. This represents a $9.24 dividend on an annualized basis and a yield of 1.86%. This is an increase from Northrop Grumman's previous quarterly dividend of $2.06. Northrop Grumman's payout ratio is currently 36.46%.

Analyst Upgrades and Downgrades

NOC has been the subject of several recent analyst reports. The Goldman Sachs Group upgraded Northrop Grumman from a "sell" rating to a "neutral" rating and upped their price target for the stock from $424.00 to $521.00 in a research note on Friday, April 11th. UBS Group decreased their target price on Northrop Grumman from $583.00 to $571.00 and set a "buy" rating for the company in a research report on Wednesday, April 23rd. Truist Financial dropped their price target on shares of Northrop Grumman from $600.00 to $550.00 and set a "buy" rating on the stock in a research report on Wednesday, April 23rd. Wells Fargo & Company set a $525.00 price objective on shares of Northrop Grumman and gave the stock an "overweight" rating in a report on Thursday, April 24th. Finally, Royal Bank Of Canada lowered their target price on shares of Northrop Grumman from $575.00 to $550.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 23rd. Eight 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 company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $548.33.

Insider Buying and Selling at Northrop Grumman

In other Northrop Grumman news, VP Roshan S. Roeder sold 991 shares of Northrop Grumman stock in a transaction that occurred on Wednesday, June 4th. The stock was sold at an average price of $490.00, for a total transaction of $485,590.00. Following the sale, the vice president now directly owns 319 shares of the company's stock, valued at approximately $156,310. The trade was a 75.65% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Kathy J. Warden sold 3,750 shares of the company's stock in a transaction that occurred on Thursday, June 12th. The shares were sold at an average price of $495.00, for a total value of $1,856,250.00. Following the completion of the sale, the chief executive officer now owns 209,102 shares in the company, valued at approximately $103,505,490. This represents a 1.76% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 16,569 shares of company stock valued at $8,322,279 in the last 90 days. 0.23% of the stock is currently owned by company 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.