Trust Point Inc. Acquires 65 Shares of Northrop Grumman Co. (NYSE:NOC)

Trust Point Inc. increased its holdings in shares of Northrop Grumman Co. (NYSE:NOC) by 15.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 483 shares of the aerospace company’s stock after purchasing an additional 65 shares during the quarter. Trust Point Inc.’s holdings in Northrop Grumman were worth $227,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently modified their holdings of the business. Wellington Management Group LLP boosted its holdings in shares of Northrop Grumman by 0.4% during the 3rd quarter. Wellington Management Group LLP now owns 4,140,892 shares of the aerospace company’s stock valued at $2,186,681,000 after acquiring an additional 17,596 shares during the last quarter. Geode Capital Management LLC lifted its position in Northrop Grumman by 0.6% during the third quarter. Geode Capital Management LLC now owns 3,003,360 shares of the aerospace company’s stock valued at $1,581,644,000 after purchasing an additional 18,791 shares during the period. Franklin Resources Inc. boosted its holdings in Northrop Grumman by 6.2% in the third quarter. Franklin Resources Inc. now owns 2,426,270 shares of the aerospace company’s stock worth $1,315,729,000 after purchasing an additional 141,816 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in Northrop Grumman by 0.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 809,445 shares of the aerospace company’s stock worth $427,444,000 after purchasing an additional 3,211 shares during the period. Finally, Two Sigma Advisers LP raised its stake in Northrop Grumman by 102.6% during the 3rd quarter. Two Sigma Advisers LP now owns 735,600 shares of the aerospace company’s stock valued at $388,448,000 after buying an additional 372,500 shares during the last quarter. 83.40% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

NOC has been the subject of several research analyst reports. Citigroup raised Northrop Grumman from a “neutral” rating to a “buy” rating and set a $587.00 price objective for the company in a report on Tuesday, January 21st. Barclays reduced their price target on shares of 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. 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 objective on the stock. Wolfe Research raised shares of Northrop Grumman from an “underperform” rating to a “peer perform” rating in a report on Monday. Finally, Royal Bank of Canada increased their price target on shares of Northrop Grumman from $500.00 to $540.00 and gave the stock a “sector perform” rating in a research report on Friday, October 25th. Nine research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $544.31.

Northrop Grumman Stock Down 1.3 %

NYSE NOC opened at $466.29 on Friday. Northrop Grumman Co. has a 12 month low of $418.60 and a 12 month high of $555.57. The company has a current ratio of 1.01, a quick ratio of 0.91 and a debt-to-equity ratio of 0.96. The stock has a market cap of $67.50 billion, a PE ratio of 16.45, a P/E/G ratio of 0.91 and a beta of 0.35. The stock’s 50 day moving average is $477.78 and its 200 day moving average is $499.22.

Northrop Grumman (NYSE:NOC) last issued its earnings results on Thursday, January 30th. The aerospace company reported $6.39 earnings per share 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 predict that Northrop Grumman Co. will post 28.04 EPS for the current fiscal year.

Northrop Grumman Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, December 18th. Stockholders of record on Monday, December 2nd were issued a $2.06 dividend. The ex-dividend date of this dividend was Monday, December 2nd. This represents a $8.24 annualized dividend and a dividend yield of 1.77%. Northrop Grumman’s dividend payout ratio (DPR) is 29.08%.

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

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 that occurred on Monday, November 11th. The stock was sold at an average price of $532.93, for a total value of $616,067.08. Following the sale, the vice president now owns 537 shares of the company’s stock, valued at $286,183.41. The trade was a 68.28 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Over the last three months, insiders sold 1,255 shares of company stock valued at $662,868. 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.