Sunbelt Securities Inc. Sells 1,925 Shares of Northrop Grumman Co. (NYSE:NOC)

Sunbelt Securities Inc. lessened its holdings in shares of Northrop Grumman Co. (NYSE:NOC - Free Report) by 84.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 351 shares of the aerospace company's stock after selling 1,925 shares during the quarter. Sunbelt Securities Inc.'s holdings in Northrop Grumman were worth $164,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Whipplewood Advisors LLC acquired a new position in Northrop Grumman in the 4th quarter valued at about $31,000. Bellwether Advisors LLC bought a new stake in shares of Northrop Grumman during the fourth quarter worth approximately $33,000. Stonebridge Financial Group LLC acquired a new position in shares of Northrop Grumman in the fourth quarter valued at approximately $42,000. Rakuten Securities Inc. grew its position in shares of Northrop Grumman by 291.7% in the fourth quarter. Rakuten Securities Inc. now owns 94 shares of the aerospace company's stock valued at $44,000 after purchasing an additional 70 shares during the last quarter. Finally, VSM Wealth Advisory LLC bought a new position in shares of Northrop Grumman during the fourth quarter worth approximately $47,000. Institutional investors own 83.40% of the company's stock.

Insiders Place Their Bets

In other news, VP Benjamin R. Davies sold 464 shares of the company's stock in a transaction dated Friday, February 28th. The shares were sold at an average price of $460.75, for a total transaction of $213,788.00. Following the transaction, the vice president now owns 245 shares in the company, valued at approximately $112,883.75. This represents a 65.44% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Kathy J. Warden sold 3,750 shares of the stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $475.65, for a total transaction of $1,783,687.50. Following the transaction, the chief executive officer now directly owns 212,852 shares in the company, valued at $101,243,053.80. This trade represents a 1.73% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 4,313 shares of company stock worth $2,045,249. Corporate insiders own 0.23% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have commented on NOC shares. Wolfe Research raised Northrop Grumman from an "underperform" rating to a "peer perform" rating in a report on Monday, February 3rd. Truist Financial dropped their price target on Northrop Grumman from $600.00 to $550.00 and set a "buy" rating for the company in a research note on Wednesday, April 23rd. Susquehanna cut their target price on Northrop Grumman from $557.00 to $540.00 and set a "positive" rating for the company in a research note on Wednesday, April 23rd. Citigroup increased their target price on shares of Northrop Grumman from $587.00 to $591.00 and gave the stock a "buy" rating in a report on Monday, February 10th. Finally, UBS Group cut their price objective on Northrop Grumman from $583.00 to $571.00 and set a "buy" rating on the stock in a report on Wednesday, April 23rd. Nine analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $545.31.

Northrop Grumman Trading Up 0.8%

NYSE NOC traded up $3.96 during mid-day trading on Thursday, reaching $479.28. 863,949 shares of the stock were exchanged, compared to its average volume of 904,947. The company has a debt-to-equity ratio of 0.96, a current ratio of 1.01 and a quick ratio of 0.91. The stock has a market cap of $68.98 billion, a P/E ratio of 16.91, a P/E/G ratio of 3.73 and a beta of 0.15. The stock has a 50 day simple moving average of $494.14 and a 200-day simple moving average of $483.52. Northrop Grumman Co. has a one year low of $418.60 and a one year high of $555.57.

Northrop Grumman (NYSE:NOC - Get Free Report) last announced its quarterly earnings data on Tuesday, April 22nd. The aerospace company reported $6.06 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $6.33 by ($0.27). Northrop Grumman had a net margin of 10.17% and a return on equity of 26.24%. The business had revenue of $9.47 billion during the quarter, compared to analyst estimates of $10.07 billion. On average, analysts anticipate that Northrop Grumman Co. will post 28.05 EPS for the current year.

Northrop Grumman Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 18th. Shareholders of record on Monday, June 2nd will be paid a $2.31 dividend. The ex-dividend date of this dividend is Monday, June 2nd. This is a positive change from Northrop Grumman's previous quarterly dividend of $2.06. This represents a $9.24 annualized dividend and a yield of 1.93%. Northrop Grumman's payout ratio is 36.46%.

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.