Zions Bancorporation N.A. Has $441,000 Stock Holdings in Northrop Grumman Co. (NYSE:NOC)

Zions Bancorporation N.A. raised its position in Northrop Grumman Co. (NYSE:NOC) by 13.9% during the third quarter, according to its most recent 13F filing with the SEC. The fund owned 836 shares of the aerospace company’s stock after buying an additional 102 shares during the period. Zions Bancorporation N.A.’s holdings in Northrop Grumman were worth $441,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Plato Investment Management Ltd boosted its holdings in Northrop Grumman by 24.3% in the third quarter. Plato Investment Management Ltd now owns 848 shares of the aerospace company’s stock valued at $447,000 after acquiring an additional 166 shares during the last quarter. Angeles Investment Advisors LLC acquired a new position in Northrop Grumman during the 3rd quarter valued at about $251,000. Pinnacle Financial Partners Inc grew its position in shares of Northrop Grumman by 4.1% during the 3rd quarter. Pinnacle Financial Partners Inc now owns 2,585 shares of the aerospace company’s stock worth $1,365,000 after buying an additional 103 shares during the period. Simmons Bank grew its position in shares of Northrop Grumman by 5.5% during the 3rd quarter. Simmons Bank now owns 1,176 shares of the aerospace company’s stock worth $621,000 after buying an additional 61 shares during the period. Finally, RMR Capital Management LLC bought a new stake in shares of Northrop Grumman during the third quarter worth approximately $211,000. 83.40% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

NOC has been the subject of a number of analyst reports. JPMorgan Chase & Co. lifted their target price on shares of Northrop Grumman from $500.00 to $560.00 and gave the stock a “neutral” rating in a report on Monday, October 14th. Alembic Global Advisors cut Northrop Grumman from an “overweight” rating to a “neutral” rating and set a $560.00 price objective for the company. in a research note on Tuesday, August 27th. Citigroup increased their target price on Northrop Grumman from $521.00 to $587.00 and gave the company a “neutral” rating in a research note on Thursday, October 10th. Royal Bank of Canada raised their target price on Northrop Grumman from $500.00 to $540.00 and gave the stock a “sector perform” rating in a report on Friday, October 25th. Finally, Wells Fargo & Company upped their price target on Northrop Grumman from $509.00 to $565.00 and gave the company an “equal weight” rating in a research note on Friday, October 25th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $550.56.

Insider Buying and Selling at Northrop Grumman

In other news, VP Benjamin R. Davies sold 1,156 shares of the stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $532.93, for a total transaction of $616,067.08. Following the transaction, the vice president now owns 537 shares in the company, valued at approximately $286,183.41. This trade represents a 68.28 % 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. Insiders sold 1,289 shares of company stock valued at $685,273 in the last quarter. 0.22% of the stock is currently owned by insiders.

Northrop Grumman Stock Performance

NOC opened at $493.88 on Friday. The business’s 50-day simple moving average is $523.70 and its 200 day simple moving average is $486.13. Northrop Grumman Co. has a 52-week low of $418.60 and a 52-week high of $555.57. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.97 and a current ratio of 1.09. The firm has a market capitalization of $71.96 billion, a PE ratio of 30.60, a PEG ratio of 1.05 and a beta of 0.35.

Northrop Grumman (NYSE:NOC) last released its earnings results on Thursday, October 24th. The aerospace company reported $7.00 earnings per share for the quarter, beating the consensus estimate of $6.07 by $0.93. The business had revenue of $10 billion during the quarter, compared to analysts’ expectations of $10.18 billion. Northrop Grumman had a net margin of 5.79% and a return on equity of 26.57%. The firm’s revenue was up 2.3% on a year-over-year basis. During the same period last year, the business earned $6.18 earnings per share. As a group, sell-side analysts expect that Northrop Grumman Co. will post 25.95 earnings per share for the current fiscal year.

Northrop Grumman Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 18th. Investors of record on Tuesday, September 3rd were paid a $2.06 dividend. This represents a $8.24 dividend on an annualized basis and a yield of 1.67%. The ex-dividend date was Tuesday, September 3rd. Northrop Grumman’s dividend payout ratio (DPR) is presently 51.05%.

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.