CENTRAL TRUST Co Lowers Stock Holdings in Northrop Grumman Co. (NYSE:NOC)

CENTRAL TRUST Co lessened its holdings in Northrop Grumman Co. (NYSE:NOC) by 9.0% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 8,256 shares of the aerospace company’s stock after selling 813 shares during the period. CENTRAL TRUST Co’s holdings in Northrop Grumman were worth $3,875,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of NOC. Czech National Bank boosted its holdings in shares of Northrop Grumman by 5.6% during the 3rd quarter. Czech National Bank now owns 28,004 shares of the aerospace company’s stock valued at $14,788,000 after purchasing an additional 1,495 shares during the last quarter. GAMMA Investing LLC lifted its position in shares of Northrop Grumman by 24.1% in the third quarter. GAMMA Investing LLC now owns 2,789 shares of the aerospace company’s stock worth $1,473,000 after buying an additional 541 shares in the last quarter. Diversified Trust Co boosted its stake in Northrop Grumman by 2.8% during the third quarter. Diversified Trust Co now owns 2,016 shares of the aerospace company’s stock valued at $1,065,000 after buying an additional 54 shares during the last quarter. Everpar Advisors LLC purchased a new position in Northrop Grumman during the 3rd quarter valued at approximately $223,000. Finally, Lakeridge Wealth Management LLC bought a new stake in Northrop Grumman in the 3rd quarter worth approximately $227,000. 83.40% of the stock is owned by institutional investors.

Insider Activity at Northrop Grumman

In other Northrop Grumman news, VP Benjamin R. Davies sold 1,156 shares of Northrop Grumman stock in a transaction 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 completion of the sale, the vice president now directly owns 537 shares of the company’s stock, valued at $286,183.41. The trade was a 68.28 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Over the last quarter, insiders sold 1,255 shares of company stock worth $663,859. Company insiders own 0.22% of the company’s stock.

Wall Street Analysts Forecast Growth

NOC has been the subject of a number of research reports. Susquehanna lowered their target price on Northrop Grumman from $625.00 to $557.00 and set a “positive” rating for the company in a research report on Wednesday, January 8th. Royal Bank of Canada increased their price objective on shares of Northrop Grumman from $500.00 to $540.00 and gave the company a “sector perform” rating in a research report on Friday, October 25th. Truist Financial began coverage on shares of Northrop Grumman in a report on Tuesday, January 14th. They issued a “buy” rating and a $544.00 target price on the stock. StockNews.com raised shares of Northrop Grumman from a “buy” rating to a “strong-buy” rating in a report on Sunday, January 19th. Finally, JPMorgan Chase & Co. boosted their price objective on Northrop Grumman from $500.00 to $560.00 and gave the stock a “neutral” rating in a research note on Monday, October 14th. Eight equities research analysts have rated the stock with a hold rating, eight have assigned 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 target price of $544.31.

Northrop Grumman Stock Performance

Shares of Northrop Grumman stock opened at $486.97 on Monday. The company has a quick ratio of 0.91, a current ratio of 1.01 and a debt-to-equity ratio of 0.96. The stock’s fifty day moving average is $478.20 and its two-hundred day moving average is $498.35. Northrop Grumman Co. has a 52 week low of $418.60 and a 52 week high of $555.57. The company has a market capitalization of $70.49 billion, a PE ratio of 17.18, a price-to-earnings-growth ratio of 0.91 and a beta of 0.35.

Northrop Grumman (NYSE:NOC) last posted its quarterly earnings results on Thursday, January 30th. The aerospace company reported $6.39 EPS for the quarter, topping analysts’ consensus estimates of $6.27 by $0.12. Northrop Grumman had a net margin of 10.17% and a return on equity of 26.24%. As a group, analysts expect that Northrop Grumman Co. will post 28.04 earnings per share for the current year.

Northrop Grumman announced that its board has authorized a stock repurchase plan on Wednesday, December 11th that permits the company to repurchase $3.00 billion in shares. This repurchase authorization permits the aerospace company to repurchase up to 4.3% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.

Northrop Grumman Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, December 18th. Stockholders of record on Monday, December 2nd were paid a dividend of $2.06 per share. This represents a $8.24 annualized dividend and a dividend yield of 1.69%. The ex-dividend date of this dividend was Monday, December 2nd. Northrop Grumman’s dividend payout ratio is presently 29.08%.

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.