Northrop Grumman Co. (NYSE:NOC) Shares Sold by Whittier Trust Co.

Whittier Trust Co. cut its stake in Northrop Grumman Co. (NYSE:NOC) by 1.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 7,357 shares of the aerospace company’s stock after selling 114 shares during the quarter. Whittier Trust Co.’s holdings in Northrop Grumman were worth $3,452,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. RPg Family Wealth Advisory LLC acquired a new position in shares of Northrop Grumman during the 3rd quarter worth approximately $31,000. Whipplewood Advisors LLC acquired a new position in shares of Northrop Grumman during the 4th quarter worth approximately $31,000. Albion Financial Group UT acquired a new position in shares of Northrop Grumman during the 4th quarter worth approximately $33,000. FSA Wealth Management LLC acquired a new position in shares of Northrop Grumman during the 3rd quarter worth approximately $36,000. Finally, Modus Advisors LLC acquired a new position in shares of Northrop Grumman during the 4th quarter worth approximately $38,000. 83.40% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Northrop Grumman

In related news, CEO Kathy J. Warden sold 3,750 shares of the firm’s stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $475.65, for a total transaction of $1,783,687.50. Following the completion of the transaction, the chief executive officer now directly owns 212,852 shares in the company, valued at $101,243,053.80. This trade represents a 1.73 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Benjamin R. Davies sold 464 shares of the firm’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 transaction, the vice president now owns 245 shares of the company’s stock, valued at $112,883.75. This trade represents a 65.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 4,505 shares of company stock worth $2,126,405. 0.22% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

NOC has been the subject of several research analyst reports. Susquehanna reduced 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. Barclays reduced their price objective on Northrop Grumman from $550.00 to $500.00 and set an “equal weight” rating for the company in a research note on Monday, January 6th. Citigroup increased their price objective on Northrop Grumman from $587.00 to $591.00 and gave the company a “buy” rating in a research note on Monday, February 10th. Truist Financial began coverage on Northrop Grumman in a research note on Tuesday, January 14th. They issued a “buy” rating and a $544.00 price objective for the company. Finally, Wolfe Research raised Northrop Grumman from an “underperform” rating to a “peer perform” rating in a research note on Monday, February 3rd. Nine equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $542.88.

Northrop Grumman Stock Up 0.6 %

Shares of NYSE:NOC opened at $492.25 on Friday. The company has a quick ratio of 0.91, a current ratio of 1.01 and a debt-to-equity ratio of 0.96. The business has a fifty day moving average of $475.18 and a two-hundred day moving average of $493.53. The stock has a market cap of $71.26 billion, a P/E ratio of 17.37, a PEG ratio of 3.73 and a beta of 0.31. Northrop Grumman Co. has a 52-week low of $418.60 and a 52-week high of $555.57.

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

Northrop Grumman declared that its Board of Directors has approved a share repurchase plan 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 plans are often a sign that the company’s board of directors believes its stock is undervalued.

Northrop Grumman Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 19th. Stockholders of record on Monday, March 3rd were issued a dividend of $2.06 per share. This represents a $8.24 dividend on an annualized basis and a dividend yield of 1.67%. The ex-dividend date of this dividend was Monday, March 3rd. Northrop Grumman’s dividend payout ratio is presently 29.08%.

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.