Toronto Dominion Bank Acquires 4,931 Shares of Northrop Grumman Co. (NYSE:NOC)

Toronto Dominion Bank increased its holdings in shares of Northrop Grumman Co. (NYSE:NOC - Free Report) by 7.2% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 73,609 shares of the aerospace company's stock after acquiring an additional 4,931 shares during the period. Toronto Dominion Bank owned about 0.05% of Northrop Grumman worth $34,544,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of NOC. Whipplewood Advisors LLC bought a new stake in shares of Northrop Grumman during the fourth quarter worth $31,000. Albion Financial Group UT acquired a new position in Northrop Grumman during the 4th quarter worth about $33,000. Bellwether Advisors LLC bought a new stake in Northrop Grumman during the 4th quarter worth about $33,000. Stonebridge Financial Group LLC acquired a new stake in Northrop Grumman in the 4th quarter valued at about $42,000. Finally, Rakuten Securities Inc. increased its position in Northrop Grumman by 291.7% in the 4th quarter. Rakuten Securities Inc. now owns 94 shares of the aerospace company's stock valued at $44,000 after acquiring an additional 70 shares in the last quarter. 83.40% of the stock is owned by institutional investors and hedge funds.

Northrop Grumman Trading Down 0.2%

Northrop Grumman stock traded down $0.83 during midday trading on Thursday, hitting $473.07. 922,312 shares of the stock were exchanged, compared to its average volume of 902,702. The stock has a market capitalization of $68.09 billion, a PE ratio of 16.69, a P/E/G ratio of 3.73 and a beta of 0.15. The company has a fifty day simple moving average of $495.88 and a two-hundred day simple moving average of $485.08. The company has a quick ratio of 0.91, a current ratio of 1.01 and a debt-to-equity ratio of 0.96. Northrop Grumman Co. has a 52 week low of $418.60 and a 52 week high of $555.57.

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 the consensus estimate of $6.33 by ($0.27). Northrop Grumman had a return on equity of 26.24% and a net margin of 10.17%. 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 Co. will post 28.05 EPS for the current fiscal year.

Northrop Grumman Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 18th. Shareholders of record on Monday, June 2nd will be issued a dividend of $2.31 per share. The ex-dividend date 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 1.95%. Northrop Grumman's payout ratio is currently 32.52%.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. Citigroup raised their price target on shares of Northrop Grumman from $587.00 to $591.00 and gave the company a "buy" rating in a report on Monday, February 10th. Royal Bank of Canada decreased their price objective on Northrop Grumman from $575.00 to $550.00 and set an "outperform" rating on the stock in a research report on Wednesday, April 23rd. Argus upgraded Northrop Grumman to a "strong-buy" rating in a research report on Wednesday, February 26th. UBS Group cut their price target on Northrop Grumman from $583.00 to $571.00 and set a "buy" rating on the stock in a research note on Wednesday, April 23rd. Finally, The Goldman Sachs Group upgraded Northrop Grumman from a "sell" rating to a "neutral" rating and raised their price target for the company from $424.00 to $521.00 in a report on Friday, April 11th. Nine investment 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's stock. Based on data from MarketBeat.com, Northrop Grumman currently has an average rating of "Moderate Buy" and an average target price of $545.31.

Insiders Place Their Bets

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