Harfst & Associates Inc. Boosts Holdings in Northern Trust Co. (NASDAQ:NTRS)

Harfst & Associates Inc. grew its position in shares of Northern Trust Co. (NASDAQ:NTRS) by 0.7% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 27,998 shares of the asset manager’s stock after purchasing an additional 189 shares during the period. Northern Trust makes up about 0.6% of Harfst & Associates Inc.’s investment portfolio, making the stock its 25th largest position. Harfst & Associates Inc.’s holdings in Northern Trust were worth $2,870,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in NTRS. Y.D. More Investments Ltd raised its stake in shares of Northern Trust by 118.4% during the fourth quarter. Y.D. More Investments Ltd now owns 249 shares of the asset manager’s stock valued at $26,000 after purchasing an additional 135 shares during the period. Empirical Asset Management LLC purchased a new stake in shares of Northern Trust during the fourth quarter valued at approximately $33,000. Brooklyn Investment Group raised its stake in shares of Northern Trust by 51.2% during the fourth quarter. Brooklyn Investment Group now owns 378 shares of the asset manager’s stock valued at $39,000 after purchasing an additional 128 shares during the period. Capital Performance Advisors LLP bought a new stake in shares of Northern Trust in the third quarter worth $48,000. Finally, Friedenthal Financial bought a new stake in shares of Northern Trust in the fourth quarter worth $57,000. Hedge funds and other institutional investors own 83.19% of the company’s stock.

Northern Trust Stock Performance

Shares of NTRS opened at $109.39 on Thursday. Northern Trust Co. has a 1 year low of $79.30 and a 1 year high of $114.67. The company has a market cap of $21.68 billion, a price-to-earnings ratio of 11.19, a price-to-earnings-growth ratio of 1.72 and a beta of 1.08. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.71 and a current ratio of 0.68. The firm has a fifty day moving average of $107.70 and a 200-day moving average of $100.76.

Northern Trust (NASDAQ:NTRS) last posted its quarterly earnings data on Thursday, January 23rd. The asset manager reported $2.26 earnings per share for the quarter, topping the consensus estimate of $1.96 by $0.30. Northern Trust had a net margin of 12.77% and a return on equity of 13.74%. As a group, equities analysts anticipate that Northern Trust Co. will post 8.27 earnings per share for the current year.

Northern Trust Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Friday, March 14th will be issued a $0.75 dividend. This represents a $3.00 annualized dividend and a yield of 2.74%. The ex-dividend date is Friday, March 14th. Northern Trust’s payout ratio is currently 30.67%.

Insider Buying and Selling

In related news, EVP Jane Karpinski sold 2,262 shares of the company’s stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $111.33, for a total value of $251,828.46. Following the completion of the sale, the executive vice president now owns 17,236 shares of the company’s stock, valued at $1,918,883.88. This represents a 11.60 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, COO Peter Cherecwich sold 26,132 shares of the business’s stock in a transaction dated Wednesday, January 29th. The stock was sold at an average price of $112.36, for a total transaction of $2,936,191.52. Following the completion of the sale, the chief operating officer now owns 26,586 shares in the company, valued at approximately $2,987,202.96. This trade represents a 49.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 44,435 shares of company stock valued at $4,980,311 over the last 90 days. 0.64% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of analysts recently issued reports on NTRS shares. Barclays lifted their price target on shares of Northern Trust from $115.00 to $118.00 and gave the stock an “equal weight” rating in a research note on Monday, January 6th. StockNews.com lowered shares of Northern Trust from a “buy” rating to a “hold” rating in a research note on Tuesday. Royal Bank of Canada lifted their price target on shares of Northern Trust from $107.00 to $115.00 and gave the stock an “outperform” rating in a research note on Friday, January 24th. Keefe, Bruyette & Woods lifted their price target on shares of Northern Trust from $113.00 to $122.00 and gave the stock a “market perform” rating in a research note on Friday, January 24th. Finally, Wells Fargo & Company lifted their price target on shares of Northern Trust from $108.00 to $110.00 and gave the stock an “equal weight” rating in a research note on Friday, November 15th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $112.58.

Northern Trust Company Profile

Northern Trust Corporation, a financial holding company, provides wealth management, asset servicing, asset management, and banking solutions for corporations, institutions, families, and individuals worldwide. It operates in two segments, Asset Servicing and Wealth Management. The Asset Servicing segment offers asset servicing and related services, including custody, fund administration, investment operations outsourcing, investment management, investment risk and analytical services, employee benefit services, securities lending, foreign exchange, treasury management, brokerage services, transition management services, banking, and cash management services.