Moody National Bank Trust Division Cuts Stake in Northrop Grumman Co. (NYSE:NOC)

Moody National Bank Trust Division reduced its position in Northrop Grumman Co. (NYSE:NOCGet Rating) by 0.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,600 shares of the aerospace company’s stock after selling 25 shares during the quarter. Moody National Bank Trust Division’s holdings in Northrop Grumman were worth $4,147,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in NOC. King Luther Capital Management Corp increased its stake in shares of Northrop Grumman by 1.3% in the third quarter. King Luther Capital Management Corp now owns 1,428 shares of the aerospace company’s stock worth $672,000 after acquiring an additional 19 shares during the period. Sheaff Brock Investment Advisors LLC boosted its holdings in Northrop Grumman by 2.7% in the third quarter. Sheaff Brock Investment Advisors LLC now owns 768 shares of the aerospace company’s stock valued at $361,000 after purchasing an additional 20 shares during the last quarter. Zions Bancorporation N.A. grew its position in Northrop Grumman by 1.1% during the 3rd quarter. Zions Bancorporation N.A. now owns 1,911 shares of the aerospace company’s stock worth $899,000 after purchasing an additional 20 shares during the period. First Foundation Advisors raised its stake in shares of Northrop Grumman by 2.3% during the 2nd quarter. First Foundation Advisors now owns 917 shares of the aerospace company’s stock valued at $439,000 after buying an additional 21 shares during the last quarter. Finally, Hanson & Doremus Investment Management lifted its holdings in shares of Northrop Grumman by 19.6% in the 3rd quarter. Hanson & Doremus Investment Management now owns 128 shares of the aerospace company’s stock valued at $60,000 after buying an additional 21 shares during the period. 84.32% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently commented on the company. Wolfe Research lowered Northrop Grumman from an “outperform” rating to a “peer perform” rating in a report on Friday, January 27th. The Goldman Sachs Group lowered shares of Northrop Grumman from a “neutral” rating to a “sell” rating and dropped their price target for the company from $440.00 to $375.00 in a research report on Friday, January 13th. Susquehanna decreased their price objective on shares of Northrop Grumman from $615.00 to $535.00 and set a “positive” rating for the company in a research report on Friday, January 27th. Cowen lowered shares of Northrop Grumman from an “outperform” rating to a “market perform” rating and lowered their target price for the stock from $500.00 to $478.00 in a research note on Friday, January 27th. Finally, Citigroup cut their price target on Northrop Grumman from $544.00 to $488.00 and set a “neutral” rating for the company in a research note on Friday, January 27th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $508.13.

Northrop Grumman Price Performance

NYSE NOC traded down $6.55 during trading hours on Friday, hitting $443.60. 1,599,300 shares of the company’s stock traded hands, compared to its average volume of 1,198,684. The company has a market capitalization of $67.48 billion, a PE ratio of 14.08, a PEG ratio of 6.01 and a beta of 0.51. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.08 and a quick ratio of 0.99. Northrop Grumman Co. has a 52-week low of $424.35 and a 52-week high of $556.27. The firm’s 50-day moving average is $460.85 and its 200-day moving average is $494.43.

Northrop Grumman (NYSE:NOCGet Rating) last issued its earnings results on Thursday, January 26th. The aerospace company reported $7.50 earnings per share for the quarter, topping the consensus estimate of $6.57 by $0.93. Northrop Grumman had a return on equity of 28.29% and a net margin of 13.38%. The business had revenue of $10 billion for the quarter, compared to analysts’ expectations of $9.64 billion. During the same period in the previous year, the firm posted $6.00 EPS. The business’s revenue for the quarter was up 16.3% compared to the same quarter last year. Equities analysts forecast that Northrop Grumman Co. will post 22.04 EPS for the current fiscal year.

Northrop Grumman Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 15th. Shareholders of record on Monday, February 27th were paid a $1.73 dividend. This represents a $6.92 dividend on an annualized basis and a dividend yield of 1.56%. The ex-dividend date of this dividend was Friday, February 24th. Northrop Grumman’s dividend payout ratio (DPR) is presently 21.96%.

Insider Transactions at Northrop Grumman

In related news, VP David T. Perry sold 3,999 shares of the firm’s stock in a transaction dated Monday, March 6th. The shares were sold at an average price of $469.65, for a total transaction of $1,878,130.35. Following the completion of the sale, the vice president now directly owns 8,717 shares in the company, valued at $4,093,939.05. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, VP David T. Perry sold 3,999 shares of the firm’s stock in a transaction that occurred on Monday, March 6th. The shares were sold at an average price of $469.65, for a total transaction of $1,878,130.35. Following the completion of the sale, the vice president now owns 8,717 shares in the company, valued at approximately $4,093,939.05. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Michael A. Hardesty sold 1,178 shares of Northrop Grumman stock in a transaction that occurred on Monday, February 13th. The shares were sold at an average price of $467.81, for a total transaction of $551,080.18. Following the sale, the chief accounting officer now directly owns 2,737 shares in the company, valued at approximately $1,280,395.97. The disclosure for this sale can be found here. Insiders have sold a total of 10,534 shares of company stock worth $4,934,622 in the last quarter. Company insiders own 0.25% of the company’s stock.

Northrop Grumman Company Profile

(Get Rating)

Northrop Grumman Corp. engages in the provision of advanced aircraft systems. It operates through the following segments: Aeronautics Systems, Defense Systems, Mission Systems, and Space Systems. The Aeronautics Systems segment is involved in the design, development, production, integration, sustainment, and modernization of advanced aircraft systems for the U.S.

Further Reading

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

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