Private Trust Co. NA Has $3.19 Million Stock Position in Northrop Grumman Co. (NYSE:NOC)

Private Trust Co. NA reduced its position in shares of Northrop Grumman Co. (NYSE:NOC) by 3.5% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 6,803 shares of the aerospace company’s stock after selling 250 shares during the period. Private Trust Co. NA’s holdings in Northrop Grumman were worth $3,193,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the company. Hudson Valley Investment Advisors Inc. ADV boosted its holdings in shares of Northrop Grumman by 0.9% during the 3rd quarter. Hudson Valley Investment Advisors Inc. ADV now owns 2,262 shares of the aerospace company’s stock worth $1,194,000 after buying an additional 20 shares during the period. Meeder Advisory Services Inc. boosted its holdings in shares of Northrop Grumman by 0.9% during the 3rd quarter. Meeder Advisory Services Inc. now owns 2,288 shares of the aerospace company’s stock worth $1,208,000 after buying an additional 20 shares during the period. Thompson Siegel & Walmsley LLC boosted its holdings in shares of Northrop Grumman by 0.3% during the 3rd quarter. Thompson Siegel & Walmsley LLC now owns 8,320 shares of the aerospace company’s stock worth $4,394,000 after buying an additional 21 shares during the period. Sapient Capital LLC boosted its holdings in shares of Northrop Grumman by 1.1% during the 4th quarter. Sapient Capital LLC now owns 2,049 shares of the aerospace company’s stock worth $962,000 after buying an additional 22 shares during the period. Finally, Bank Pictet & Cie Europe AG boosted its holdings in shares of Northrop Grumman by 2.2% during the 4th quarter. Bank Pictet & Cie Europe AG now owns 1,006 shares of the aerospace company’s stock worth $472,000 after buying an additional 22 shares during the period. 83.40% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on NOC. Wolfe Research raised shares of Northrop Grumman from an “underperform” rating to a “peer perform” rating in a report on Monday, February 3rd. Citigroup increased 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. Truist Financial initiated coverage on shares of Northrop Grumman in a report on Tuesday, January 14th. They issued a “buy” rating and a $544.00 price target for the company. StockNews.com downgraded shares of Northrop Grumman from a “strong-buy” rating to a “buy” rating in a report on Monday, February 3rd. Finally, Susquehanna reduced their price target on shares of Northrop Grumman from $625.00 to $557.00 and set a “positive” rating for the company in a report on Wednesday, January 8th. Nine investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $542.75.

Insider Buying and Selling at Northrop Grumman

In related news, VP Benjamin R. Davies sold 192 shares of the business’s stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $429.08, for a total transaction of $82,383.36. Following the transaction, the vice president now directly owns 709 shares in the company, valued at approximately $304,217.72. The trade was a 21.31 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Over the last quarter, insiders have sold 291 shares of company stock valued at $129,184. 0.22% of the stock is currently owned by corporate insiders.

Northrop Grumman Trading Up 1.1 %

Shares of Northrop Grumman stock opened at $459.90 on Friday. The stock has a market capitalization of $66.57 billion, a P/E ratio of 16.23, a price-to-earnings-growth ratio of 3.73 and a beta of 0.35. 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 company has a 50-day simple moving average of $469.59 and a 200 day simple moving average of $496.50. Northrop Grumman Co. has a 12-month low of $418.60 and a 12-month high of $555.57.

Northrop Grumman (NYSE:NOC) last announced its earnings results on Thursday, January 30th. The aerospace company reported $6.39 earnings per share (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%. Research analysts expect that Northrop Grumman Co. will post 28.05 earnings per share for the current fiscal year.

Northrop Grumman Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 19th. Investors of record on Monday, March 3rd will be paid a dividend of $2.06 per share. This represents a $8.24 annualized dividend and a yield of 1.79%. The ex-dividend date of this dividend is Monday, March 3rd. Northrop Grumman’s payout ratio is 29.08%.

Northrop Grumman declared that its board has approved a share buyback program on Wednesday, December 11th that authorizes the company to buyback $3.00 billion in shares. This buyback authorization authorizes the aerospace company to purchase up to 4.3% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s board of directors believes its stock is undervalued.

About Northrop Grumman

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.