Central Bank & Trust Co. Acquires 976 Shares of Northrop Grumman Co. (NYSE:NOC)

Central Bank & Trust Co. grew its holdings in shares of Northrop Grumman Co. (NYSE:NOC) by 52.0% in the first quarter, HoldingsChannel.com reports. The fund owned 2,854 shares of the aerospace company’s stock after purchasing an additional 976 shares during the period. Central Bank & Trust Co.’s holdings in Northrop Grumman were worth $1,461,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of NOC. GAMMA Investing LLC boosted its position in shares of Northrop Grumman by 55,522.3% during the 1st quarter. GAMMA Investing LLC now owns 1,520,158 shares of the aerospace company’s stock valued at $778,336,000 after acquiring an additional 1,517,425 shares during the last quarter. Capital International Investors boosted its position in shares of Northrop Grumman by 5.9% during the 4th quarter. Capital International Investors now owns 8,239,434 shares of the aerospace company’s stock valued at $3,866,133,000 after acquiring an additional 461,307 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its position in shares of Northrop Grumman by 28.5% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 2,030,644 shares of the aerospace company’s stock valued at $952,962,000 after acquiring an additional 450,858 shares during the last quarter. First Trust Advisors LP boosted its position in shares of Northrop Grumman by 337.1% during the 4th quarter. First Trust Advisors LP now owns 482,112 shares of the aerospace company’s stock valued at $226,250,000 after acquiring an additional 371,814 shares during the last quarter. Finally, Raymond James Financial Inc. bought a new stake in shares of Northrop Grumman during the 4th quarter valued at about $171,580,000. Institutional investors own 83.40% of the company’s stock.

Northrop Grumman Trading Up 0.3%

NYSE NOC opened at $489.55 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. Northrop Grumman Co. has a twelve month low of $418.60 and a twelve month high of $555.57. The firm has a market capitalization of $70.46 billion, a PE ratio of 17.27, a P/E/G ratio of 3.73 and a beta of 0.14. The stock’s 50 day moving average is $491.04 and its 200 day moving average is $482.38.

Northrop Grumman (NYSE:NOC) last released its earnings results on Tuesday, April 22nd. The aerospace company reported $6.06 EPS for the quarter, missing the consensus estimate of $6.33 by ($0.27). Northrop Grumman had a return on equity of 26.24% and a net margin of 10.17%. The company had revenue of $9.47 billion during the quarter, compared to the consensus estimate of $10.07 billion. Research analysts forecast that Northrop Grumman Co. will post 28.05 earnings per share for the current fiscal year.

Northrop Grumman Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 18th. Shareholders of record on Monday, June 2nd will be issued a $2.31 dividend. This represents a $9.24 annualized dividend and a yield of 1.89%. This is an increase from Northrop Grumman’s previous quarterly dividend of $2.06. The ex-dividend date is Monday, June 2nd. Northrop Grumman’s payout ratio is 36.46%.

Insiders Place Their Bets

In other Northrop Grumman news, VP Roshan S. Roeder sold 991 shares of the business’s stock in a transaction on Wednesday, June 4th. The stock was sold at an average price of $490.00, for a total value of $485,590.00. Following the sale, the vice president now directly owns 319 shares of the company’s stock, valued at approximately $156,310. The trade was a 75.65% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Over the last three months, insiders have sold 1,057 shares of company stock valued at $517,733. 0.23% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the company. Citigroup lifted their price target on Northrop Grumman from $587.00 to $591.00 and gave the company a “buy” rating in a research report on Monday, February 10th. The Goldman Sachs Group raised Northrop Grumman from a “sell” rating to a “neutral” rating and raised their price objective for the company from $424.00 to $521.00 in a report on Friday, April 11th. Wells Fargo & Company set a $525.00 price target on Northrop Grumman and gave the stock an “overweight” rating in a research note on Thursday, April 24th. Truist Financial decreased their price target on Northrop Grumman from $600.00 to $550.00 and set a “buy” rating on the stock in a research note on Wednesday, April 23rd. Finally, Susquehanna reduced their target price on Northrop Grumman from $557.00 to $540.00 and set a “positive” rating on the stock in a research note on Wednesday, April 23rd. Nine research 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’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $545.31.

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.