Northern Trust Corp Raises Stock Holdings in Northrop Grumman Co. (NYSE:NOC)

Northern Trust Corp raised its position in Northrop Grumman Co. (NYSE:NOC - Free Report) by 10.4% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 1,251,050 shares of the aerospace company's stock after purchasing an additional 118,211 shares during the period. Northern Trust Corp owned 0.86% of Northrop Grumman worth $587,105,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of NOC. Whipplewood Advisors LLC bought a new stake in Northrop Grumman during the fourth quarter valued at $31,000. Albion Financial Group UT acquired a new position in shares of Northrop Grumman in the 4th quarter valued at about $33,000. Bellwether Advisors LLC acquired a new stake in Northrop Grumman during the fourth quarter worth approximately $33,000. Modus Advisors LLC bought a new stake in Northrop Grumman in the fourth quarter worth approximately $38,000. Finally, Stonebridge Financial Group LLC acquired a new position in Northrop Grumman in the fourth quarter valued at approximately $42,000. 83.40% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on NOC. Barclays cut their target price on shares of Northrop Grumman from $550.00 to $500.00 and set an "equal weight" rating on the stock in a research note on Monday, January 6th. Royal Bank of Canada decreased their target price on Northrop Grumman from $575.00 to $550.00 and set an "outperform" rating for the company in a research report on Wednesday, April 23rd. Wells Fargo & Company set a $525.00 price target on Northrop Grumman and gave the stock an "overweight" rating in a report on Thursday, April 24th. The Goldman Sachs Group raised Northrop Grumman from a "sell" rating to a "neutral" rating and raised their price objective for the company from $424.00 to $521.00 in a research note on Friday, April 11th. Finally, Truist Financial lowered their target price on Northrop Grumman from $600.00 to $550.00 and set a "buy" rating on the stock in a research report on Wednesday, April 23rd. Nine investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $545.31.

Insider Activity

In related news, CEO Kathy J. Warden sold 3,750 shares of the business's stock in a transaction that occurred on Thursday, March 6th. The shares were sold at an average price of $475.65, for a total transaction of $1,783,687.50. Following the completion of the transaction, the chief executive officer now owns 212,852 shares of the company's stock, valued at approximately $101,243,053.80. The trade was a 1.73 % 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, VP Benjamin R. Davies sold 192 shares of the stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $429.08, for a total transaction of $82,383.36. Following the completion of the sale, the vice president now owns 709 shares in the company, valued at $304,217.72. This represents a 21.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 4,505 shares of company stock worth $2,127,182. 0.23% of the stock is owned by corporate insiders.

Northrop Grumman Stock Performance

NYSE NOC traded up $5.26 on Friday, hitting $491.93. 1,728,616 shares of the stock traded hands, compared to its average volume of 893,140. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.91 and a current ratio of 1.01. The business's fifty day moving average is $495.65 and its two-hundred day moving average is $488.74. Northrop Grumman Co. has a 12 month low of $418.60 and a 12 month high of $555.57. The firm has a market capitalization of $70.80 billion, a price-to-earnings ratio of 17.36, a PEG ratio of 3.73 and a beta of 0.20.

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

Northrop Grumman Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 19th. Stockholders of record on Monday, March 3rd were given a $2.06 dividend. This represents a $8.24 annualized dividend and a dividend yield of 1.68%. The ex-dividend date was Monday, March 3rd. Northrop Grumman's dividend payout ratio (DPR) is presently 32.52%.

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.