Smithfield Trust Co Lowers Stock Position in Northrop Grumman Co. (NYSE:NOC)

Smithfield Trust Co cut its holdings in shares of Northrop Grumman Co. (NYSE:NOC) by 5.7% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 6,902 shares of the aerospace company’s stock after selling 416 shares during the period. Smithfield Trust Co’s holdings in Northrop Grumman were worth $3,237,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the business. RPg Family Wealth Advisory LLC purchased a new position in shares of Northrop Grumman in the 3rd quarter valued at $31,000. Whipplewood Advisors LLC bought a new stake in Northrop Grumman during the fourth quarter valued at about $31,000. Albion Financial Group UT bought a new stake in Northrop Grumman during the fourth quarter valued at about $33,000. FSA Wealth Management LLC purchased a new position in Northrop Grumman in the third quarter valued at about $36,000. Finally, Modus Advisors LLC bought a new position in Northrop Grumman in the fourth quarter worth about $38,000. 83.40% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Northrop Grumman news, VP Benjamin R. Davies sold 464 shares of the company’s stock in a transaction that occurred on Friday, February 28th. The stock was sold at an average price of $460.75, for a total value of $213,788.00. Following the sale, the vice president now owns 245 shares in the company, valued at approximately $112,883.75. This represents a 65.44 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Insiders have sold a total of 755 shares of company stock valued at $342,972 over the last ninety days. Company insiders own 0.22% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have 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. StockNews.com downgraded shares of Northrop Grumman from a “strong-buy” rating to a “buy” rating in a research note on Monday, February 3rd. UBS Group reduced their price target on Northrop Grumman from $579.00 to $558.00 and set a “buy” rating on the stock in a research report on Friday, January 31st. Barclays lowered their price objective on Northrop Grumman from $550.00 to $500.00 and set an “equal weight” rating for the company in a research report on Monday, January 6th. Finally, Truist Financial began coverage on Northrop Grumman in a research report on Tuesday, January 14th. They set a “buy” rating and a $544.00 target price on the stock. Nine research analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $542.75.

Northrop Grumman Stock Performance

Shares of NYSE NOC opened at $464.34 on Wednesday. The company has a 50 day simple moving average of $469.43 and a two-hundred day simple moving average of $495.61. The stock has a market cap of $67.22 billion, a price-to-earnings ratio of 16.38, a PEG ratio of 3.73 and a beta of 0.35. The company has a current ratio of 1.01, a quick ratio of 0.91 and a debt-to-equity ratio of 0.96. Northrop Grumman Co. has a 12 month low of $418.60 and a 12 month high of $555.57.

Northrop Grumman (NYSE:NOC) last posted its earnings results on Thursday, January 30th. The aerospace company reported $6.39 earnings per share (EPS) for the quarter, beating 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 predict that Northrop Grumman Co. will post 28.05 earnings per share for the current year.

Northrop Grumman declared that its board has initiated 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 generally an indication that the company’s board of directors believes its stock is undervalued.

Northrop Grumman Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, March 19th. Stockholders of record on Monday, March 3rd will be paid a $2.06 dividend. The ex-dividend date is Monday, March 3rd. This represents a $8.24 dividend on an annualized basis and a dividend yield of 1.77%. Northrop Grumman’s payout ratio is 29.08%.

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.