First Citizens Bank & Trust Co. Trims Stock Holdings in Northrop Grumman Co. (NYSE:NOC)

First Citizens Bank & Trust Co. decreased its holdings in Northrop Grumman Co. (NYSE:NOCFree Report) by 19.0% in the 4th quarter, Holdings Channel.com reports. The firm owned 1,957 shares of the aerospace company’s stock after selling 460 shares during the period. First Citizens Bank & Trust Co.’s holdings in Northrop Grumman were worth $916,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently modified their holdings of the company. State of Wyoming increased its stake in shares of Northrop Grumman by 76.5% in the fourth quarter. State of Wyoming now owns 60 shares of the aerospace company’s stock worth $33,000 after purchasing an additional 26 shares in the last quarter. Annis Gardner Whiting Capital Advisors LLC purchased a new position in Northrop Grumman during the third quarter valued at approximately $29,000. IMA Wealth Inc. grew its stake in Northrop Grumman by 196.3% during the second quarter. IMA Wealth Inc. now owns 80 shares of the aerospace company’s stock valued at $36,000 after acquiring an additional 53 shares in the last quarter. Providence Capital Advisors LLC grew its stake in Northrop Grumman by 400.0% during the third quarter. Providence Capital Advisors LLC now owns 100 shares of the aerospace company’s stock valued at $44,000 after acquiring an additional 80 shares in the last quarter. Finally, West Tower Group LLC purchased a new position in Northrop Grumman during the second quarter valued at approximately $48,000. Hedge funds and other institutional investors own 83.40% of the company’s stock.

Northrop Grumman Stock Down 1.1 %

Shares of NYSE NOC opened at $466.36 on Wednesday. The company has a current ratio of 1.15, a quick ratio of 1.05 and a debt-to-equity ratio of 0.93. Northrop Grumman Co. has a 12 month low of $414.56 and a 12 month high of $496.89. The firm has a market capitalization of $69.97 billion, a PE ratio of 34.60, a price-to-earnings-growth ratio of 1.90 and a beta of 0.35. The firm has a fifty day simple moving average of $457.49 and a two-hundred day simple moving average of $462.60.

Northrop Grumman (NYSE:NOCGet Free Report) last issued its quarterly earnings data on Thursday, January 25th. The aerospace company reported $6.27 EPS for the quarter, topping the consensus estimate of $5.80 by $0.47. Northrop Grumman had a net margin of 5.23% and a return on equity of 23.07%. The business had revenue of $10.64 billion during the quarter, compared to analyst estimates of $10.43 billion. During the same period in the prior year, the business earned $7.50 EPS. The company’s revenue for the quarter was up 6.0% on a year-over-year basis. Equities analysts expect that Northrop Grumman Co. will post 24.67 earnings per share for the current year.

Northrop Grumman Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 13th. Shareholders of record on Monday, February 26th were issued a $1.87 dividend. The ex-dividend date of this dividend was Friday, February 23rd. This represents a $7.48 annualized dividend and a yield of 1.60%. Northrop Grumman’s dividend payout ratio (DPR) is presently 55.49%.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. Robert W. Baird reduced their price objective on shares of Northrop Grumman from $505.00 to $475.00 and set a “neutral” rating for the company in a research note on Friday, January 26th. StockNews.com cut shares of Northrop Grumman from a “buy” rating to a “hold” rating in a research note on Monday, January 29th. Deutsche Bank Aktiengesellschaft cut shares of Northrop Grumman from a “buy” rating to a “hold” rating and reduced their price objective for the company from $541.00 to $473.00 in a research note on Friday, December 15th. Wolfe Research cut shares of Northrop Grumman from a “peer perform” rating to an “underperform” rating and set a $450.00 price objective for the company. in a research note on Thursday, December 14th. Finally, Royal Bank of Canada reiterated a “sector perform” rating and set a $450.00 target price (down from $515.00) on shares of Northrop Grumman in a research report on Friday, January 26th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $494.33.

Get Our Latest Stock Report on Northrop Grumman

Insiders Place Their Bets

In other Northrop Grumman news, CAO Michael A. Hardesty sold 955 shares of the company’s stock in a transaction on Friday, February 16th. The shares were sold at an average price of $450.37, for a total value of $430,103.35. Following the completion of the transaction, the chief accounting officer now directly owns 4,137 shares in the company, valued at approximately $1,863,180.69. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, VP Kathryn G. Simpson sold 1,273 shares of the stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $450.37, for a total value of $573,321.01. Following the completion of the transaction, the vice president now directly owns 2,735 shares in the company, valued at approximately $1,231,761.95. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Michael A. Hardesty sold 955 shares of the stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $450.37, for a total transaction of $430,103.35. Following the completion of the transaction, the chief accounting officer now owns 4,137 shares of the company’s stock, valued at $1,863,180.69. The disclosure for this sale can be found here. In the last ninety days, insiders sold 3,149 shares of company stock worth $1,421,147. 0.26% of the stock is currently owned by corporate insiders.

Northrop Grumman Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Northrop Grumman (NYSE:NOC)

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