Whittier Trust Co. Reduces Holdings in Northrop Grumman Co. (NYSE:NOC)

Whittier Trust Co. trimmed its position in shares of Northrop Grumman Co. (NYSE:NOC) by 1.5% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 7,357 shares of the aerospace company’s stock after selling 114 shares during the quarter. Whittier Trust Co.’s holdings in Northrop Grumman were worth $3,452,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. RPg Family Wealth Advisory LLC bought a new stake in shares of Northrop Grumman during the third quarter worth $31,000. Whipplewood Advisors LLC bought a new stake in shares of Northrop Grumman during the fourth quarter worth $31,000. FSA Wealth Management LLC bought a new stake in shares of Northrop Grumman during the third quarter worth $36,000. Albion Financial Group UT bought a new stake in shares of Northrop Grumman during the fourth quarter worth $33,000. Finally, Modus Advisors LLC bought a new stake in shares of Northrop Grumman during the fourth quarter worth $38,000. 83.40% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have recently weighed in on NOC. Argus upgraded Northrop Grumman to a “strong-buy” rating in a research report on Wednesday, February 26th. Barclays decreased their price objective on Northrop Grumman from $550.00 to $500.00 and set an “equal weight” rating for the company in a report on Monday, January 6th. Citigroup lifted their price objective on Northrop Grumman from $587.00 to $591.00 and gave the company a “buy” rating in a report on Monday, February 10th. Wolfe Research upgraded Northrop Grumman from an “underperform” rating to a “peer perform” rating in a report on Monday, February 3rd. Finally, Truist Financial initiated coverage on Northrop Grumman in a report on Tuesday, January 14th. They issued a “buy” rating and a $544.00 price objective for the company. Nine analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Northrop Grumman has a consensus rating of “Moderate Buy” and a consensus target price of $542.88.

Insider Transactions at Northrop Grumman

In related news, CEO Kathy J. Warden sold 3,750 shares of the company’s stock in a transaction that occurred on Thursday, March 6th. The stock was sold at an average price of $475.65, for a total value of $1,783,687.50. Following the sale, the chief executive officer now owns 212,852 shares in the company, valued at $101,243,053.80. This represents a 1.73 % 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. Also, VP Benjamin R. Davies sold 464 shares of the company’s stock in a transaction that occurred on Friday, February 28th. The shares were sold at an average price of $460.75, for a total value of $213,788.00. Following the completion of the sale, the vice president now owns 245 shares in the company, valued at approximately $112,883.75. This represents a 65.44 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 4,505 shares of company stock worth $2,126,405. Insiders own 0.22% of the company’s stock.

Northrop Grumman Stock Performance

Shares of Northrop Grumman stock opened at $492.25 on Friday. The company has a market capitalization of $71.26 billion, a PE ratio of 17.37, a P/E/G ratio of 3.73 and a beta of 0.31. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.91 and a current ratio of 1.01. The company has a 50-day simple moving average of $475.18 and a two-hundred day simple moving average of $493.53. Northrop Grumman Co. has a one year low of $418.60 and a one year high of $555.57.

Northrop Grumman (NYSE:NOC) last issued its quarterly 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 return on equity of 26.24% and a net margin of 10.17%. Research analysts expect that Northrop Grumman Co. will post 28.05 EPS for the current fiscal year.

Northrop Grumman Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 19th. Stockholders of record on Monday, March 3rd were paid a dividend of $2.06 per share. The ex-dividend date was Monday, March 3rd. This represents a $8.24 dividend on an annualized basis and a dividend yield of 1.67%. Northrop Grumman’s payout ratio is 29.08%.

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