Northrop Grumman Co. (NYSE:NOC) Shares Sold by Bank Pictet & Cie Europe AG

Bank Pictet & Cie Europe AG lowered its holdings in shares of Northrop Grumman Co. (NYSE:NOC) by 23.3% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 772 shares of the aerospace company’s stock after selling 234 shares during the period. Bank Pictet & Cie Europe AG’s holdings in Northrop Grumman were worth $395,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Whipplewood Advisors LLC purchased a new position in Northrop Grumman during the 4th quarter worth $31,000. Wood Tarver Financial Group LLC purchased a new position in Northrop Grumman during the 4th quarter worth $32,000. Bellwether Advisors LLC purchased a new position in Northrop Grumman during the 4th quarter worth $33,000. Rakuten Securities Inc. raised its position in Northrop Grumman by 291.7% during the 4th quarter. Rakuten Securities Inc. now owns 94 shares of the aerospace company’s stock worth $44,000 after buying an additional 70 shares during the last quarter. Finally, VSM Wealth Advisory LLC purchased a new position in Northrop Grumman during the 4th quarter worth $47,000. Hedge funds and other institutional investors own 83.40% of the company’s stock.

Northrop Grumman Stock Performance

NYSE:NOC opened at $496.89 on Tuesday. 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 firm has a 50-day moving average price of $491.10 and a two-hundred day moving average price of $482.58. Northrop Grumman Co. has a twelve month low of $422.19 and a twelve month high of $555.57. The company has a market capitalization of $71.52 billion, a P/E ratio of 17.53, a price-to-earnings-growth ratio of 3.73 and a beta of 0.14.

Northrop Grumman (NYSE:NOC) last released its quarterly earnings results on Tuesday, April 22nd. The aerospace company reported $6.06 earnings per share (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 firm had revenue of $9.47 billion for the quarter, compared to analyst estimates of $10.07 billion. As a group, research analysts expect that Northrop Grumman Co. will post 28.05 earnings per share for the current fiscal year.

Northrop Grumman Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, June 18th. Shareholders of record on Monday, June 2nd will be paid a dividend of $2.31 per share. This is a boost from Northrop Grumman’s previous quarterly dividend of $2.06. This represents a $9.24 annualized dividend and a dividend yield of 1.86%. The ex-dividend date is Monday, June 2nd. Northrop Grumman’s dividend payout ratio (DPR) is currently 36.46%.

Insiders Place Their Bets

In other Northrop Grumman news, VP Thomas H. Jones sold 729 shares of the firm’s stock in a transaction dated Friday, June 13th. The shares were sold at an average price of $505.77, for a total transaction of $368,706.33. Following the sale, the vice president now directly owns 7,552 shares of the company’s stock, valued at $3,819,575.04. This trade represents a 8.80% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Kathy J. Warden sold 3,750 shares of the firm’s stock in a transaction dated Thursday, June 12th. The stock was sold at an average price of $495.00, for a total transaction of $1,856,250.00. Following the sale, the chief executive officer now directly owns 209,102 shares in the company, valued at $103,505,490. This represents a 1.76% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 16,569 shares of company stock valued at $8,322,279 in the last ninety days. Insiders own 0.23% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have commented on NOC shares. Royal Bank of Canada cut their price objective on shares of Northrop Grumman from $575.00 to $550.00 and set an “outperform” rating for the company in a research report on Wednesday, April 23rd. UBS Group cut their price target on shares of Northrop Grumman from $583.00 to $571.00 and set a “buy” rating for the company in a report on Wednesday, April 23rd. The Goldman Sachs Group upgraded shares of Northrop Grumman from a “sell” rating to a “neutral” rating and increased their price target for the company from $424.00 to $521.00 in a report on Friday, April 11th. Susquehanna cut their price target on shares of Northrop Grumman from $557.00 to $540.00 and set a “positive” rating for the company in a report on Wednesday, April 23rd. Finally, Truist Financial cut their price target on shares of Northrop Grumman from $600.00 to $550.00 and set a “buy” rating for the company in a report on Wednesday, April 23rd. Nine 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 company’s stock. According to data from MarketBeat.com, Northrop Grumman currently has an average 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.