Principal Financial Group Inc. Sells 1,613 Shares of Northrop Grumman Corporation (NYSE:NOC)

Principal Financial Group Inc. lessened its stake in shares of Northrop Grumman Corporation (NYSE:NOC - Free Report) by 1.0% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 162,838 shares of the aerospace company's stock after selling 1,613 shares during the period. Principal Financial Group Inc. owned about 0.11% of Northrop Grumman worth $83,375,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Brighton Jones LLC raised its holdings in Northrop Grumman by 176.3% in the 4th quarter. Brighton Jones LLC now owns 2,970 shares of the aerospace company's stock valued at $1,394,000 after acquiring an additional 1,895 shares during the period. Bank Pictet & Cie Europe AG lifted its position in shares of Northrop Grumman by 2.2% during the 4th quarter. Bank Pictet & Cie Europe AG now owns 1,006 shares of the aerospace company's stock worth $472,000 after buying an additional 22 shares during the last quarter. Steward Partners Investment Advisory LLC boosted its stake in shares of Northrop Grumman by 8.9% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 11,384 shares of the aerospace company's stock valued at $5,342,000 after purchasing an additional 929 shares in the last quarter. Victory Capital Management Inc. boosted its position in Northrop Grumman by 81.8% in the fourth quarter. Victory Capital Management Inc. now owns 89,439 shares of the aerospace company's stock valued at $41,973,000 after buying an additional 40,247 shares in the last quarter. Finally, Assetmark Inc. grew its stake in shares of Northrop Grumman by 7.2% during the fourth quarter. Assetmark Inc. now owns 17,849 shares of the aerospace company's stock worth $8,376,000 after buying an additional 1,202 shares during the last quarter. Institutional investors own 83.40% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on NOC shares. Wall Street Zen lowered shares of Northrop Grumman from a "buy" rating to a "hold" rating in a report on Thursday, April 24th. Royal Bank Of Canada dropped their price target on shares of Northrop Grumman from $575.00 to $550.00 and set an "outperform" rating for the company in a research note on Wednesday, April 23rd. Truist Financial cut their price target on shares of Northrop Grumman from $600.00 to $550.00 and set a "buy" rating on the stock in a report on Wednesday, April 23rd. Susquehanna decreased their price objective on Northrop Grumman from $557.00 to $540.00 and set a "positive" rating for the company in a report on Wednesday, April 23rd. Finally, Wells Fargo & Company set a $525.00 target price on Northrop Grumman and gave the stock an "overweight" rating in a research report on Thursday, April 24th. Seven investment 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's stock. Based on data from MarketBeat.com, Northrop Grumman has an average rating of "Moderate Buy" and a consensus price target of $552.54.

Insiders Place Their Bets

In related news, VP Roshan S. Roeder sold 991 shares of the company's stock in a transaction on Wednesday, June 4th. The shares were sold at an average price of $490.00, for a total value of $485,590.00. Following the completion of the transaction, the vice president directly owned 319 shares in the company, valued at approximately $156,310. The trade was a 75.65% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Kathy J. Warden sold 7,500 shares of Northrop Grumman stock in a transaction dated Friday, June 13th. The stock was sold at an average price of $505.77, for a total value 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 position. 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 ninety days. Corporate insiders own 0.23% of the company's stock.

Northrop Grumman Stock Performance

Northrop Grumman stock traded up $4.50 during mid-day trading on Friday, reaching $503.40. The company's stock had a trading volume of 381,831 shares, compared to its average volume of 880,004. The firm's fifty day moving average price is $486.97 and its two-hundred day moving average price is $484.13. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.84 and a current ratio of 0.95. Northrop Grumman Corporation has a 12-month low of $422.69 and a 12-month high of $555.57. The company has a market capitalization of $72.45 billion, a P/E ratio of 19.87, a PEG ratio of 5.51 and a beta of 0.15.

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

Northrop Grumman Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 18th. Investors of record on Monday, June 2nd were paid a dividend of $2.31 per share. This is a positive change from Northrop Grumman's previous quarterly dividend of $2.06. The ex-dividend date was Monday, June 2nd. This represents a $9.24 annualized dividend and a yield of 1.84%. Northrop Grumman's dividend payout ratio (DPR) is currently 36.46%.

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.