OLD Second National Bank of Aurora Raises Stock Position in Northrop Grumman Co. (NYSE:NOC)

OLD Second National Bank of Aurora grew its holdings in shares of Northrop Grumman Co. (NYSE:NOC) by 26.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,403 shares of the aerospace company’s stock after purchasing an additional 713 shares during the period. OLD Second National Bank of Aurora’s holdings in Northrop Grumman were worth $1,597,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Synergy Asset Management LLC purchased a new stake in Northrop Grumman during the fourth quarter worth about $57,000. Strategic Planning Group LLC increased its stake in Northrop Grumman by 2.9% during the fourth quarter. Strategic Planning Group LLC now owns 9,060 shares of the aerospace company’s stock worth $4,252,000 after purchasing an additional 253 shares during the period. Baring Financial LLC purchased a new stake in Northrop Grumman during the fourth quarter worth about $287,000. Invesco LLC increased its stake in Northrop Grumman by 3.8% during the fourth quarter. Invesco LLC now owns 6,813 shares of the aerospace company’s stock worth $3,197,000 after purchasing an additional 251 shares during the period. Finally, Allen Capital Group LLC increased its stake in Northrop Grumman by 5.8% during the fourth quarter. Allen Capital Group LLC now owns 1,053 shares of the aerospace company’s stock worth $494,000 after purchasing an additional 58 shares during the period. 83.40% of the stock is currently owned by hedge funds and other institutional investors.

Northrop Grumman Stock Performance

Shares of Northrop Grumman stock opened at $481.56 on Thursday. The firm has a market capitalization of $70.16 billion, a P/E ratio of 29.84, a P/E/G ratio of 0.95 and a beta of 0.35. Northrop Grumman Co. has a 52 week low of $418.60 and a 52 week high of $555.57. The firm’s 50 day moving average is $478.87 and its two-hundred day moving average is $497.74. The company has a quick ratio of 0.97, a current ratio of 1.09 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 the consensus estimate of $6.27 by $0.12. Northrop Grumman had a return on equity of 26.57% and a net margin of 5.79%. Research analysts forecast that Northrop Grumman Co. will post 25.96 EPS for the current fiscal year.

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

Northrop Grumman Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, December 18th. Stockholders of record on Monday, December 2nd were issued a $2.06 dividend. This represents a $8.24 annualized dividend and a dividend yield of 1.71%. The ex-dividend date was Monday, December 2nd. Northrop Grumman’s payout ratio is currently 51.05%.

Insider Activity

In related news, VP Benjamin R. Davies sold 1,156 shares of the stock in a transaction on Monday, November 11th. The stock was 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. This trade represents a 68.28 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Over the last ninety days, insiders sold 1,255 shares of company stock valued at $663,859. 0.22% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of analysts recently weighed in on NOC shares. Royal Bank of Canada upped their target price on shares of Northrop Grumman from $500.00 to $540.00 and gave the stock a “sector perform” rating in a research note on Friday, October 25th. Truist Financial started coverage on shares of Northrop Grumman in a research note on Tuesday, January 14th. They set a “buy” rating and a $544.00 target price on the stock. TD Cowen upgraded shares of Northrop Grumman to a “hold” rating in a research note on Tuesday, October 8th. Wells Fargo & Company upgraded shares of Northrop Grumman from an “equal weight” rating to an “overweight” rating and set a $595.00 target price on the stock in a research note on Wednesday, January 8th. Finally, Citigroup upgraded shares of Northrop Grumman from a “neutral” rating to a “buy” rating and set a $587.00 target price on the stock in a research note on Tuesday, January 21st. Eight investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $550.94.

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.