OLD Second National Bank of Aurora Acquires 4,305 Shares of Northrop Grumman Corporation (NYSE:NOC)

OLD Second National Bank of Aurora grew its holdings in Northrop Grumman Corporation (NYSE:NOC - Free Report) by 126.5% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 7,708 shares of the aerospace company's stock after purchasing an additional 4,305 shares during the period. Northrop Grumman makes up about 0.9% of OLD Second National Bank of Aurora's portfolio, making the stock its 29th biggest position. OLD Second National Bank of Aurora's holdings in Northrop Grumman were worth $3,947,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Whipplewood Advisors LLC bought a new position in Northrop Grumman in the 4th quarter valued at approximately $31,000. Wood Tarver Financial Group LLC bought a new stake in Northrop Grumman during the 4th quarter worth $32,000. Bellwether Advisors LLC acquired a new position in Northrop Grumman in the 4th quarter worth about $33,000. Rakuten Securities Inc. raised its position in 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 acquired a new stake in shares of Northrop Grumman during the fourth quarter valued at about $47,000. Institutional investors own 83.40% of the company's stock.

Northrop Grumman Price Performance

Shares of NYSE NOC opened at $494.16 on Friday. The firm's 50-day simple moving average is $490.07 and its 200 day simple moving average is $482.87. Northrop Grumman Corporation has a fifty-two week low of $422.69 and a fifty-two week high of $555.57. The stock has a market cap of $71.12 billion, a price-to-earnings ratio of 19.50, a PEG ratio of 5.40 and a beta of 0.14. 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 (NYSE:NOC - Get Free Report) last posted its earnings results on Tuesday, April 22nd. The aerospace company reported $6.06 earnings per share (EPS) for the quarter, missing the consensus estimate of $6.33 by ($0.27). Northrop Grumman had a return on equity of 25.46% and a net margin of 9.19%. The firm had revenue of $9.47 billion during the quarter, compared to the consensus estimate of $10.07 billion. As a group, research analysts anticipate that Northrop Grumman Corporation will post 28.05 earnings per share for the current fiscal year.

Northrop Grumman Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 18th. Investors of record on Monday, June 2nd were issued a dividend of $2.31 per share. This is a boost from Northrop Grumman's previous quarterly dividend of $2.06. The ex-dividend date was Monday, June 2nd. This represents a $9.24 dividend on an annualized basis and a yield of 1.87%. Northrop Grumman's dividend payout ratio is 36.46%.

Analyst Ratings Changes

Several research firms have recently issued reports on NOC. UBS Group lowered their price objective on Northrop Grumman from $583.00 to $571.00 and set a "buy" rating for the company in a research note on Wednesday, April 23rd. Susquehanna dropped their price target on shares of Northrop Grumman from $557.00 to $540.00 and set a "positive" rating for the company in a research note on Wednesday, April 23rd. 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 decreased their price objective on Northrop Grumman from $575.00 to $550.00 and set an "outperform" rating for the company in a report on Wednesday, April 23rd. Finally, Truist Financial cut their price objective on Northrop Grumman from $600.00 to $550.00 and set a "buy" rating on the stock in a research note on Wednesday, April 23rd. Eight equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $548.33.

Insider Activity

In other news, VP Thomas H. Jones sold 729 shares of Northrop Grumman stock in a transaction 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 now directly owns 7,552 shares of the company's stock, valued at approximately $3,819,575.04. The trade was a 8.80% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Kathy J. Warden sold 3,750 shares of the firm's stock in a transaction dated 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 sale, the chief executive officer now owns 209,102 shares in the company, valued at $103,505,490. The trade was a 1.76% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 16,569 shares of company stock worth $8,322,279 over the last ninety days. Company insiders own 0.23% of the company's stock.

Northrop Grumman 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.

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