Truist Financial Corp Reduces Position in Northrop Grumman Co. (NYSE:NOC)

Truist Financial Corp lessened its holdings in shares of Northrop Grumman Co. (NYSE:NOC) by 11.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 39,868 shares of the aerospace company’s stock after selling 5,247 shares during the period. Truist Financial Corp’s holdings in Northrop Grumman were worth $18,710,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the business. RPg Family Wealth Advisory LLC acquired a new position in Northrop Grumman in the 3rd quarter valued at about $31,000. Albion Financial Group UT acquired a new position in Northrop Grumman in the 4th quarter valued at about $33,000. FSA Wealth Management LLC acquired a new position in Northrop Grumman in the 3rd quarter valued at about $36,000. Modus Advisors LLC acquired a new position in Northrop Grumman in the 4th quarter valued at about $38,000. Finally, Catalyst Capital Advisors LLC acquired a new position in Northrop Grumman in the 3rd quarter valued at about $40,000. Hedge funds and other institutional investors own 83.40% of the company’s stock.

Northrop Grumman Trading Down 1.8 %

Shares of NYSE:NOC opened at $433.63 on Thursday. Northrop Grumman Co. has a 52 week low of $418.60 and a 52 week high of $555.57. The company’s 50 day moving average is $472.52 and its two-hundred day moving average is $498.17. The company has a current ratio of 1.01, a quick ratio of 0.91 and a debt-to-equity ratio of 0.96. The company has a market cap of $62.77 billion, a PE ratio of 15.30, a P/E/G ratio of 3.73 and a beta of 0.35.

Northrop Grumman (NYSE:NOC) last announced its quarterly earnings data on Thursday, January 30th. The aerospace company reported $6.39 EPS for the quarter, beating analysts’ consensus estimates of $6.27 by $0.12. Northrop Grumman had a net margin of 10.17% and a return on equity of 26.24%. Equities analysts predict that Northrop Grumman Co. will post 28.05 earnings per share for the current fiscal year.

Northrop Grumman Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, March 19th. Investors of record on Monday, March 3rd will be given a $2.06 dividend. This represents a $8.24 dividend on an annualized basis and a dividend yield of 1.90%. The ex-dividend date is Monday, March 3rd. Northrop Grumman’s dividend payout ratio (DPR) is 29.08%.

Northrop Grumman declared that its board has approved a share 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 purchase up to 4.3% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board of directors believes its stock is undervalued.

Analyst Upgrades and Downgrades

Several research firms have weighed in on NOC. Royal Bank of Canada boosted their target price on shares of Northrop Grumman from $500.00 to $540.00 and gave the company a “sector perform” rating in a report on Friday, October 25th. UBS Group decreased their price objective on shares of Northrop Grumman from $579.00 to $558.00 and set a “buy” rating on the stock in a report on Friday, January 31st. Truist Financial initiated coverage on shares of Northrop Grumman in a report on Tuesday, January 14th. They issued a “buy” rating and a $544.00 price objective on the stock. Citigroup upped their price objective on shares of Northrop Grumman from $587.00 to $591.00 and gave the stock a “buy” rating in a report on Monday, February 10th. Finally, StockNews.com lowered shares of Northrop Grumman from a “strong-buy” rating to a “buy” rating in a report on Monday, February 3rd. Nine equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat, Northrop Grumman has an average rating of “Moderate Buy” and a consensus target price of $544.56.

Northrop Grumman Company 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.