Stock Yards Bank & Trust Co. Decreases Holdings in Northrop Grumman Co. (NYSE:NOC)

Stock Yards Bank & Trust Co. reduced its position in Northrop Grumman Co. (NYSE:NOC) by 4.5% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 783 shares of the aerospace company’s stock after selling 37 shares during the period. Stock Yards Bank & Trust Co.’s holdings in Northrop Grumman were worth $367,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Annis Gardner Whiting Capital Advisors LLC bought a new stake in shares of Northrop Grumman during the 3rd quarter valued at about $29,000. Providence Capital Advisors LLC grew its position in Northrop Grumman by 400.0% during the third quarter. Providence Capital Advisors LLC now owns 100 shares of the aerospace company’s stock valued at $44,000 after buying an additional 80 shares during the period. Mizuho Securities Co. Ltd. purchased a new stake in Northrop Grumman during the third quarter valued at approximately $70,000. Rational Advisors LLC bought a new position in Northrop Grumman in the third quarter worth approximately $72,000. Finally, Venturi Wealth Management LLC boosted its stake in shares of Northrop Grumman by 16.2% during the 3rd quarter. Venturi Wealth Management LLC now owns 165 shares of the aerospace company’s stock worth $73,000 after acquiring an additional 23 shares during the last quarter. 83.40% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Northrop Grumman news, VP Kathryn G. Simpson sold 711 shares of Northrop Grumman stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $453.22, for a total value of $322,239.42. Following the completion of the transaction, the vice president now directly owns 2,024 shares of the company’s stock, valued at approximately $917,317.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, VP Kathryn G. Simpson sold 711 shares of the firm’s stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $453.22, for a total value of $322,239.42. Following the completion of the sale, the vice president now directly owns 2,024 shares in the company, valued at $917,317.28. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CAO Michael A. Hardesty sold 955 shares of the business’s stock in a transaction on Friday, February 16th. The shares were sold at an average price of $450.37, for a total transaction of $430,103.35. Following the transaction, the chief accounting officer now owns 4,137 shares in the company, valued at approximately $1,863,180.69. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 3,149 shares of company stock worth $1,421,147. Insiders own 0.22% of the company’s stock.

Northrop Grumman Stock Performance

NOC opened at $474.40 on Wednesday. The company has a debt-to-equity ratio of 0.93, a quick ratio of 1.05 and a current ratio of 1.15. The stock has a market capitalization of $70.31 billion, a price-to-earnings ratio of 35.19, a PEG ratio of 1.89 and a beta of 0.35. The company has a fifty day moving average of $460.67 and a 200 day moving average of $465.48. Northrop Grumman Co. has a fifty-two week low of $414.56 and a fifty-two week high of $496.89.

Northrop Grumman (NYSE:NOC) last issued its quarterly earnings data on Thursday, January 25th. The aerospace company reported $6.27 earnings per share for the quarter, beating analysts’ consensus estimates of $5.80 by $0.47. Northrop Grumman had a return on equity of 23.07% and a net margin of 5.23%. The firm had revenue of $10.64 billion during the quarter, compared to analyst estimates of $10.43 billion. During the same quarter last year, the business posted $7.50 earnings per share. The business’s quarterly revenue was up 6.0% compared to the same quarter last year. As a group, sell-side analysts forecast that Northrop Grumman Co. will post 24.67 earnings per share for the current fiscal year.

Northrop Grumman Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 13th. Investors of record on Monday, February 26th were issued a $1.87 dividend. This represents a $7.48 dividend on an annualized basis and a dividend yield of 1.58%. The ex-dividend date was Friday, February 23rd. Northrop Grumman’s dividend payout ratio (DPR) is presently 55.49%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on NOC shares. StockNews.com lowered Northrop Grumman from a “buy” rating to a “hold” rating in a research note on Monday, January 29th. TheStreet cut Northrop Grumman from a “b+” rating to a “c+” rating in a research report on Thursday, January 25th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $450.00 price objective (down from $515.00) on shares of Northrop Grumman in a research report on Friday, January 26th. Alembic Global Advisors raised shares of Northrop Grumman from a “neutral” rating to an “overweight” rating and set a $532.00 target price for the company in a report on Monday. Finally, Susquehanna decreased their target price on shares of Northrop Grumman from $560.00 to $540.00 and set a “positive” rating on the stock in a research note on Friday, January 26th. One analyst has rated the stock with a sell rating, eight have given a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $497.23.

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.