Atlantic Union Bankshares Corp Has $2.38 Million Stock Holdings in Northrop Grumman Co. (NYSE:NOC)

Atlantic Union Bankshares Corp decreased its stake in shares of Northrop Grumman Co. (NYSE:NOC) by 13.0% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 5,077 shares of the aerospace company’s stock after selling 759 shares during the period. Atlantic Union Bankshares Corp’s holdings in Northrop Grumman were worth $2,382,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also bought and sold shares of the company. Wellington Management Group LLP grew its position in shares of Northrop Grumman by 0.4% in the third quarter. Wellington Management Group LLP now owns 4,140,892 shares of the aerospace company’s stock valued at $2,186,681,000 after purchasing an additional 17,596 shares during the last quarter. Geode Capital Management LLC grew its holdings in Northrop Grumman by 0.6% in the 3rd quarter. Geode Capital Management LLC now owns 3,003,360 shares of the aerospace company’s stock valued at $1,581,644,000 after buying an additional 18,791 shares in the last quarter. Franklin Resources Inc. increased its position in Northrop Grumman by 6.2% during the 3rd quarter. Franklin Resources Inc. now owns 2,426,270 shares of the aerospace company’s stock worth $1,315,729,000 after buying an additional 141,816 shares during the period. Charles Schwab Investment Management Inc. increased its position in Northrop Grumman by 2.8% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 832,463 shares of the aerospace company’s stock worth $390,667,000 after buying an additional 23,018 shares during the period. Finally, Two Sigma Advisers LP lifted its holdings in shares of Northrop Grumman by 102.6% during the third quarter. Two Sigma Advisers LP now owns 735,600 shares of the aerospace company’s stock worth $388,448,000 after buying an additional 372,500 shares in the last quarter. Institutional investors and hedge funds own 83.40% of the company’s stock.

Insider Activity

In other Northrop Grumman news, CEO Kathy J. Warden sold 3,750 shares of Northrop Grumman stock in a transaction on Thursday, March 6th. The shares were sold at an average price of $475.65, for a total value of $1,783,687.50. Following the completion of the sale, the chief executive officer now directly owns 212,852 shares of the company’s stock, valued at approximately $101,243,053.80. The trade was a 1.73 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP Benjamin R. Davies sold 464 shares of the business’s stock in a transaction dated Friday, February 28th. The shares were sold at an average price of $460.75, for a total value of $213,788.00. Following the completion of the sale, the vice president now directly owns 245 shares of the company’s stock, valued at $112,883.75. The trade was a 65.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 4,505 shares of company stock valued at $2,126,405 in the last ninety days. 0.22% of the stock is owned by company insiders.

Northrop Grumman Price Performance

Northrop Grumman stock opened at $487.22 on Friday. The company has a market capitalization of $70.53 billion, a PE ratio of 17.19, a P/E/G ratio of 3.73 and a beta of 0.31. 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 stock has a 50-day moving average price of $469.88 and a two-hundred day moving average price of $495.11. Northrop Grumman Co. has a 12 month low of $418.60 and a 12 month high of $555.57.

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

Northrop Grumman declared that its Board of Directors has authorized a stock buyback plan on Wednesday, December 11th that allows the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization allows the aerospace company to buy up to 4.3% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s board believes its shares are undervalued.

Northrop Grumman Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 19th. Stockholders of record on Monday, March 3rd will be given a $2.06 dividend. This represents a $8.24 annualized dividend and a dividend yield of 1.69%. The ex-dividend date of this dividend is Monday, March 3rd. Northrop Grumman’s dividend payout ratio (DPR) is presently 29.08%.

Analysts Set New Price Targets

A number of equities analysts recently commented on NOC shares. Wolfe Research raised shares of Northrop Grumman from an “underperform” rating to a “peer perform” rating in a research report on Monday, February 3rd. Barclays dropped their price target on shares of Northrop Grumman from $550.00 to $500.00 and set an “equal weight” rating for the company in a research report on Monday, January 6th. Susquehanna reduced their price target on Northrop Grumman from $625.00 to $557.00 and set a “positive” rating on the stock in a research report on Wednesday, January 8th. Argus upgraded Northrop Grumman to a “strong-buy” rating in a research note on Wednesday, February 26th. Finally, Citigroup upped their target price on Northrop Grumman from $587.00 to $591.00 and gave the company a “buy” rating in a research report on Monday, February 10th. Nine analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Northrop Grumman has a consensus rating of “Moderate Buy” and a consensus target price of $542.88.

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.