First National Trust Co Lowers Holdings in Northrop Grumman Co. (NYSE:NOC)

First National Trust Co trimmed its holdings in Northrop Grumman Co. (NYSE:NOC) by 13.9% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 4,952 shares of the aerospace company’s stock after selling 802 shares during the period. First National Trust Co’s holdings in Northrop Grumman were worth $2,324,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. RPg Family Wealth Advisory LLC purchased a new position in Northrop Grumman in the third quarter worth approximately $31,000. Whipplewood Advisors LLC acquired a new stake in shares of Northrop Grumman in the fourth quarter valued at $31,000. FSA Wealth Management LLC acquired a new stake in shares of Northrop Grumman in the third quarter valued at $36,000. Albion Financial Group UT acquired a new stake in shares of Northrop Grumman in the fourth quarter valued at $33,000. Finally, Modus Advisors LLC acquired a new stake in shares of Northrop Grumman in the fourth quarter valued at $38,000. 83.40% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

NOC has been the subject of a number of research reports. Argus raised Northrop Grumman to a “strong-buy” rating in a research note on Wednesday, February 26th. Wells Fargo & Company lifted their price objective on Northrop Grumman from $545.00 to $547.00 and gave the company an “overweight” rating in a research note on Friday, March 7th. Barclays dropped their price objective on Northrop Grumman from $550.00 to $500.00 and set an “equal weight” rating for the company in a research note on Monday, January 6th. Wolfe Research raised Northrop Grumman from an “underperform” rating to a “peer perform” rating in a research note on Monday, February 3rd. Finally, Susquehanna dropped their price objective on Northrop Grumman from $625.00 to $557.00 and set a “positive” rating for the company in a research note on Wednesday, January 8th. Nine research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $542.88.

Insider Activity

In related news, VP Benjamin R. Davies sold 192 shares of the business’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 transaction, the vice president now owns 709 shares in the company, valued at $304,217.72. The trade was a 21.31 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Kathy J. Warden sold 3,750 shares of the business’s stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $475.65, for a total value of $1,783,687.50. Following the completion of the transaction, the chief executive officer now owns 212,852 shares in the company, valued at $101,243,053.80. This trade represents a 1.73 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 4,505 shares of company stock valued at $2,126,405. Insiders own 0.22% of the company’s stock.

Northrop Grumman Stock Down 0.9 %

Shares of NYSE NOC opened at $486.10 on Friday. The company has a market capitalization of $70.37 billion, a price-to-earnings ratio of 17.15, a price-to-earnings-growth ratio of 3.73 and a beta of 0.31. The company has a debt-to-equity ratio of 0.96, a current ratio of 1.01 and a quick ratio of 0.91. The business has a 50-day moving average of $471.93 and a two-hundred day moving average of $494.49. Northrop Grumman Co. has a 1 year low of $418.60 and a 1 year high of $555.57.

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

Northrop Grumman Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 19th. Stockholders of record on Monday, March 3rd will be issued a $2.06 dividend. This represents a $8.24 annualized dividend and a dividend yield of 1.70%. The ex-dividend date of this dividend is Monday, March 3rd. Northrop Grumman’s payout ratio is currently 29.08%.

Northrop Grumman declared that its Board of Directors has initiated a stock buyback plan on Wednesday, December 11th that authorizes the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization authorizes the aerospace company to buy up to 4.3% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s leadership 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.