Kennebec Savings Bank Has $598,000 Holdings in Northrop Grumman Co. (NYSE:NOC)

Kennebec Savings Bank boosted its position in Northrop Grumman Co. (NYSE:NOC) by 3.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,266 shares of the aerospace company’s stock after purchasing an additional 46 shares during the period. Kennebec Savings Bank’s holdings in Northrop Grumman were worth $598,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of NOC. NewEdge Advisors LLC lifted its holdings in Northrop Grumman by 23.6% during the 2nd quarter. NewEdge Advisors LLC now owns 10,832 shares of the aerospace company’s stock worth $4,722,000 after buying an additional 2,066 shares during the period. Northwestern Mutual Wealth Management Co. raised its stake in Northrop Grumman by 5.9% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 16,093 shares of the aerospace company’s stock worth $7,019,000 after buying an additional 898 shares during the last quarter. Quarry LP grew its holdings in Northrop Grumman by 1,546.2% during the 2nd quarter. Quarry LP now owns 214 shares of the aerospace company’s stock worth $93,000 after acquiring an additional 201 shares during the period. Teachers Retirement System of The State of Kentucky raised its position in shares of Northrop Grumman by 87.8% in the 2nd quarter. Teachers Retirement System of The State of Kentucky now owns 21,802 shares of the aerospace company’s stock worth $9,505,000 after acquiring an additional 10,192 shares in the last quarter. Finally, Strategic Investment Solutions Inc. IL acquired a new position in shares of Northrop Grumman in the 2nd quarter valued at about $92,000. 83.40% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

NOC has been the subject of several recent analyst reports. Wells Fargo & Company raised shares of Northrop Grumman from an “equal weight” rating to an “overweight” rating and set a $595.00 price objective for the company in a research report on Wednesday, January 8th. JPMorgan Chase & Co. raised their target price on Northrop Grumman from $500.00 to $560.00 and gave the company a “neutral” rating in a research note on Monday, October 14th. Barclays dropped their price target on 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. Truist Financial began coverage on Northrop Grumman in a research report on Tuesday, January 14th. They set a “buy” rating and a $544.00 target price on the stock. Finally, Susquehanna decreased their price target on shares of Northrop Grumman from $625.00 to $557.00 and set a “positive” rating for the company in a research note on Wednesday, January 8th. Eight analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $550.94.

Insider Activity

In related news, VP Benjamin R. Davies sold 1,156 shares of the firm’s stock in a transaction that occurred on Monday, November 11th. The shares were 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 in the company, valued at approximately $286,183.41. This trade represents a 68.28 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In the last 90 days, insiders have sold 1,255 shares of company stock worth $663,859. Corporate insiders own 0.22% of the company’s stock.

Northrop Grumman Stock Performance

NYSE:NOC opened at $483.70 on Friday. The firm has a market cap of $70.48 billion, a PE ratio of 29.97, a price-to-earnings-growth ratio of 0.91 and a beta of 0.35. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.97 and a current ratio of 1.09. The business has a 50 day moving average price of $478.66 and a 200-day moving average price of $497.63. Northrop Grumman Co. has a fifty-two week low of $418.60 and a fifty-two week high of $555.57.

Northrop Grumman (NYSE:NOC) last posted its 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 net margin of 5.79% and a return on equity of 26.57%. Equities research analysts predict that Northrop Grumman Co. will post 25.96 earnings per share for the current year.

Northrop Grumman Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, December 18th. Shareholders of record on Monday, December 2nd were given a dividend of $2.06 per share. This represents a $8.24 annualized dividend and a yield of 1.70%. The ex-dividend date of this dividend was Monday, December 2nd. Northrop Grumman’s dividend payout ratio is currently 51.05%.

Northrop Grumman announced that its board has initiated a stock buyback program on Wednesday, December 11th that permits the company to repurchase $3.00 billion in shares. This repurchase authorization permits the aerospace company to purchase up to 4.3% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s management believes its stock is undervalued.

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.