Country Trust Bank Raises Holdings in Northrop Grumman Co. (NYSE:NOC)

Country Trust Bank increased its position in Northrop Grumman Co. (NYSE:NOC) by 6.1% in the 4th quarter, Holdings Channel reports. The firm owned 87,419 shares of the aerospace company’s stock after buying an additional 4,999 shares during the period. Country Trust Bank’s holdings in Northrop Grumman were worth $41,025,000 as of its most recent filing with the SEC.

Other large investors have also recently made changes to their positions in the company. RPg Family Wealth Advisory LLC purchased a new stake in shares of Northrop Grumman in the third quarter valued at about $31,000. FSA Wealth Management LLC acquired a new position in Northrop Grumman in the 3rd quarter valued at about $36,000. Albion Financial Group UT purchased a new stake in Northrop Grumman during the 4th quarter valued at approximately $33,000. Catalyst Capital Advisors LLC acquired a new stake in Northrop Grumman during the 3rd quarter worth approximately $40,000. Finally, Modus Advisors LLC purchased a new position in shares of Northrop Grumman in the 4th quarter valued at approximately $38,000. 83.40% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on NOC. Barclays decreased their price target 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. UBS Group raised their target price on shares of Northrop Grumman from $614.00 to $643.00 and gave the stock a “buy” rating in a research note on Friday, October 25th. JPMorgan Chase & Co. boosted their price target on shares of Northrop Grumman from $500.00 to $560.00 and gave the stock a “neutral” rating in a research note on Monday, October 14th. Wells Fargo & Company raised Northrop Grumman from an “equal weight” rating to an “overweight” rating and set a $595.00 price objective on the stock in a report on Wednesday, January 8th. Finally, Susquehanna cut their target price 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. Eight equities research 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 company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $550.94.

Insider Buying and Selling

In other news, VP Benjamin R. Davies sold 1,156 shares of the business’s stock in a transaction on Monday, November 11th. The shares were sold at an average price of $532.93, for a total transaction of $616,067.08. Following the completion of the sale, the vice president now directly owns 537 shares of the company’s stock, valued at $286,183.41. The trade was a 68.28 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Over the last ninety days, insiders have sold 1,255 shares of company stock worth $663,859. 0.22% of the stock is owned by company insiders.

Northrop Grumman Trading Up 0.4 %

Northrop Grumman stock opened at $483.70 on Friday. The stock has a 50-day moving average price of $478.40 and a 200 day moving average price of $497.53. Northrop Grumman Co. has a 52 week low of $418.60 and a 52 week high of $555.57. The stock has a market cap of $70.48 billion, a PE ratio of 29.97, a P/E/G ratio of 0.91 and a beta of 0.35. The company has a current ratio of 1.09, a quick ratio of 0.97 and a debt-to-equity ratio of 1.00.

Northrop Grumman (NYSE:NOC) last posted its quarterly earnings data on Thursday, January 30th. The aerospace company reported $6.39 earnings per share for the quarter, beating analysts’ consensus estimates 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 fiscal year.

Northrop Grumman Announces Dividend

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

Northrop Grumman announced that its Board of Directors has approved a stock buyback program on Wednesday, December 11th that permits the company to buyback $3.00 billion in shares. This buyback authorization permits the aerospace company to repurchase up to 4.3% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board of directors 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.