OLD National Bancorp IN Has $1.59 Million Stock Position in Northrop Grumman Co. (NYSE:NOC)

OLD National Bancorp IN lessened its holdings in Northrop Grumman Co. (NYSE:NOC) by 6.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,391 shares of the aerospace company’s stock after selling 235 shares during the period. OLD National Bancorp IN’s holdings in Northrop Grumman were worth $1,591,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of NOC. Centaurus Financial Inc. increased its holdings in shares of Northrop Grumman by 348.4% during the 2nd quarter. Centaurus Financial Inc. now owns 1,825 shares of the aerospace company’s stock valued at $796,000 after acquiring an additional 1,418 shares during the last quarter. Neville Rodie & Shaw Inc. bought a new stake in Northrop Grumman during the third quarter worth approximately $217,000. Czech National Bank grew its holdings in Northrop Grumman by 5.6% during the third 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. Farmers Trust Co. bought a new position in shares of Northrop Grumman in the third quarter valued at approximately $204,000. Finally, Apella Capital LLC acquired a new stake in shares of Northrop Grumman in the third quarter worth $262,000. 83.40% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on NOC. StockNews.com upgraded shares of Northrop Grumman from a “buy” rating to a “strong-buy” rating in a report on Sunday, January 19th. TD Cowen raised Northrop Grumman to a “hold” rating in a research report on Tuesday, October 8th. UBS Group cut their price objective on Northrop Grumman from $579.00 to $558.00 and set a “buy” rating for the company in a research report on Friday. Wells Fargo & Company lowered their target price on Northrop Grumman from $595.00 to $574.00 and set an “overweight” rating on the stock in a report on Friday. Finally, JPMorgan Chase & Co. upped their price target on Northrop Grumman from $500.00 to $560.00 and gave the stock a “neutral” rating in a report on Monday, October 14th. Eight equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Northrop Grumman currently has an average rating of “Moderate Buy” and a consensus target price of $544.31.

Northrop Grumman Trading Up 0.7 %

NOC stock opened at $486.97 on Friday. Northrop Grumman Co. has a 1-year low of $418.60 and a 1-year high of $555.57. The company has a current ratio of 1.09, a quick ratio of 0.97 and a debt-to-equity ratio of 1.00. The business’s 50 day moving average is $478.40 and its 200-day moving average is $497.53. The firm has a market cap of $70.95 billion, a P/E ratio of 30.17, a P/E/G ratio of 0.91 and a beta of 0.35.

Northrop Grumman (NYSE:NOC) last released its quarterly earnings data on Thursday, January 30th. The aerospace company reported $6.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.27 by $0.12. Northrop Grumman had a return on equity of 26.57% and a net margin of 5.79%. Equities analysts anticipate that Northrop Grumman Co. will post 25.96 earnings per share for the current fiscal year.

Northrop Grumman Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, December 18th. Shareholders of record on Monday, December 2nd were paid a dividend of $2.06 per share. The ex-dividend date of this dividend was Monday, December 2nd. This represents a $8.24 annualized dividend and a yield of 1.69%. Northrop Grumman’s dividend payout ratio is 51.05%.

Northrop Grumman declared that its board has initiated a share buyback plan on Wednesday, December 11th that allows the company to repurchase $3.00 billion in shares. This repurchase authorization allows the aerospace company to purchase up to 4.3% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s leadership believes its stock is undervalued.

Insider Transactions at Northrop Grumman

In related news, VP Benjamin R. Davies sold 1,156 shares of the firm’s 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. This trade represents a 68.28 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Over the last 90 days, insiders sold 1,255 shares of company stock valued at $663,859. Corporate insiders own 0.22% 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.