Gulf International Bank UK Ltd Has $4.07 Million Holdings in Northrop Grumman Corporation (NYSE:NOC)

Key Points

• Gulf International Bank UK Ltd has reduced its holdings in Northrop Grumman Corporation by 26.2% during the first quarter, bringing its total shares to 7,945 and worth approximately $4,067,000.
• Insiders at Northrop Grumman have sold 16,536 shares valued at approximately $8.3 million in the last 90 days, indicating a significant reduction in their stakes.
• Analysts have updated their target prices for Northrop Grumman shares, with Royal Bank of Canada setting a new target of $625.00, reflecting positive sentiments about the company's future growth.

Gulf International Bank UK Ltd lessened its position in Northrop Grumman Corporation (NYSE:NOC - Free Report) by 26.2% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 7,945 shares of the aerospace company's stock after selling 2,814 shares during the quarter. Gulf International Bank UK Ltd's holdings in Northrop Grumman were worth $4,067,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. IMA Advisory Services Inc. acquired a new stake in Northrop Grumman in the 1st quarter worth $27,000. Banque Cantonale Vaudoise acquired a new stake in Northrop Grumman in the 1st quarter worth $30,000. Wood Tarver Financial Group LLC acquired a new stake in Northrop Grumman in the 4th quarter worth $32,000. Bellwether Advisors LLC acquired a new stake in Northrop Grumman in the 4th quarter worth $33,000. Finally, Hollencrest Capital Management grew its position in Northrop Grumman by 790.0% in the 1st quarter. Hollencrest Capital Management now owns 89 shares of the aerospace company's stock worth $45,000 after purchasing an additional 79 shares during the last quarter. Institutional investors own 83.40% of the company's stock.

Northrop Grumman Price Performance

Shares of NYSE NOC traded up $0.30 during trading on Friday, reaching $584.02. The company had a trading volume of 667,324 shares, compared to its average volume of 888,391. Northrop Grumman Corporation has a 52 week low of $426.24 and a 52 week high of $594.68. The stock has a market cap of $83.62 billion, a PE ratio of 21.53, a PEG ratio of 5.59 and a beta of 0.15. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.93 and a current ratio of 1.04. The business's 50 day moving average price is $532.08 and its 200-day moving average price is $500.80.

Northrop Grumman (NYSE:NOC - Get Free Report) last announced its earnings results on Tuesday, July 22nd. The aerospace company reported $7.11 earnings per share for the quarter, topping analysts' consensus estimates of $6.84 by $0.27. Northrop Grumman had a net margin of 9.74% and a return on equity of 25.52%. The company had revenue of $10.35 billion during the quarter, compared to the consensus estimate of $10.15 billion. During the same period in the previous year, the firm posted $6.36 earnings per share. The company's revenue was up 1.3% on a year-over-year basis. Analysts expect that Northrop Grumman Corporation will post 28.05 earnings per share for the current year.

Northrop Grumman Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, June 18th. Shareholders of record on Monday, June 2nd were paid a $2.31 dividend. This is a boost from Northrop Grumman's previous quarterly dividend of $2.06. This represents a $9.24 dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date of this dividend was Monday, June 2nd. Northrop Grumman's payout ratio is presently 34.06%.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. Wall Street Zen lowered shares of Northrop Grumman from a "buy" rating to a "hold" rating in a research report on Thursday, April 24th. Sanford C. Bernstein restated a "market perform" rating on shares of Northrop Grumman in a research report on Monday, July 14th. UBS Group decreased their price target on shares of Northrop Grumman from $583.00 to $571.00 and set a "buy" rating on the stock in a research report on Wednesday, April 23rd. Truist Financial restated a "buy" rating and issued a $625.00 price target (up from $550.00) on shares of Northrop Grumman in a research report on Wednesday, July 23rd. Finally, Bank of America lifted their target price on shares of Northrop Grumman from $550.00 to $650.00 and gave the company a "buy" rating in a research report on Wednesday, July 23rd. Ten research analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $586.79.

Insider Activity at Northrop Grumman

In related news, VP Thomas H. Jones sold 729 shares of the business's stock in a transaction that occurred on Friday, June 13th. The shares were sold at an average price of $505.77, for a total transaction of $368,706.33. Following the completion of the sale, the vice president directly owned 7,552 shares of the company's stock, valued at $3,819,575.04. The trade was a 8.80% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO Kathy J. Warden sold 7,500 shares of the business's stock in a transaction that occurred on Friday, June 13th. The stock was sold at an average price of $505.77, for a total transaction of $3,793,275.00. Following the sale, the chief executive officer directly owned 201,602 shares of the company's stock, valued at approximately $101,964,243.54. This trade represents a 3.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 16,536 shares of company stock valued at $8,306,857. Insiders own 0.23% of the company's stock.

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.