Northrop Grumman Co. (NYSE:NOC) Shares Acquired by First American Bank

First American Bank increased its position in shares of Northrop Grumman Co. (NYSE:NOC) by 1.0% during the 4th quarter, HoldingsChannel reports. The fund owned 16,758 shares of the aerospace company’s stock after acquiring an additional 162 shares during the quarter. First American Bank’s holdings in Northrop Grumman were worth $7,864,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Wellington Management Group LLP increased 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 worth $2,186,681,000 after buying an additional 17,596 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of Northrop Grumman by 0.6% in the 3rd 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 last quarter. Franklin Resources Inc. increased its position in shares of Northrop Grumman by 6.2% during the 3rd 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. raised its holdings 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 valued at $427,444,000 after buying an additional 3,211 shares during the period. Finally, Two Sigma Advisers LP lifted its position in Northrop Grumman by 102.6% in the third 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. Hedge funds and other institutional investors own 83.40% of the company’s stock.

Insider Activity at Northrop Grumman

In other news, VP Benjamin R. Davies sold 192 shares of the company’s stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $429.08, for a total value of $82,383.36. Following the completion of the sale, the vice president now owns 709 shares of the company’s stock, valued at $304,217.72. This represents a 21.31 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In the last three months, insiders sold 291 shares of company stock worth $129,184. Corporate insiders own 0.22% of the company’s stock.

Northrop Grumman Stock Up 1.1 %

Shares of NYSE NOC opened at $459.90 on Friday. 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 stock has a market capitalization of $66.57 billion, a PE ratio of 16.23, a P/E/G ratio of 3.73 and a beta of 0.35. The firm has a fifty day moving average of $469.59 and a 200-day moving average of $496.50. Northrop Grumman Co. has a 52-week low of $418.60 and a 52-week high of $555.57.

Northrop Grumman (NYSE:NOC) last announced its quarterly earnings results on Thursday, January 30th. The aerospace company reported $6.39 EPS for the quarter, topping the consensus estimate of $6.27 by $0.12. Northrop Grumman had a return on equity of 26.24% and a net margin of 10.17%. On average, analysts anticipate that Northrop Grumman Co. will post 28.05 EPS for the current year.

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

Northrop Grumman Announces Dividend

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

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on NOC shares. Wells Fargo & Company decreased their price objective on shares of Northrop Grumman from $574.00 to $545.00 and set an “overweight” rating on the stock in a report on Wednesday. Susquehanna lowered their price objective on Northrop Grumman from $625.00 to $557.00 and set a “positive” rating for the company in a research report on Wednesday, January 8th. Wolfe Research upgraded Northrop Grumman from an “underperform” rating to a “peer perform” rating in a research note on Monday, February 3rd. UBS Group decreased their price target on shares of Northrop Grumman from $579.00 to $558.00 and set a “buy” rating for the company in a research note on Friday, January 31st. Finally, Barclays dropped their price objective on shares of Northrop Grumman from $550.00 to $500.00 and set an “equal weight” rating on the stock in a research note on Monday, January 6th. Nine analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, Northrop Grumman currently has an average rating of “Moderate Buy” and a consensus target price of $542.75.

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.