First National Trust Co Decreases Stock Holdings in Northrop Grumman Co. (NYSE:NOC)

First National Trust Co lessened its holdings in shares of Northrop Grumman Co. (NYSE:NOC - Free Report) by 13.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 4,952 shares of the aerospace company's stock after selling 802 shares during the quarter. First National Trust Co's holdings in Northrop Grumman were worth $2,324,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Lockheed Martin Investment Management Co. raised its stake in Northrop Grumman by 19.9% during the 4th quarter. Lockheed Martin Investment Management Co. now owns 16,660 shares of the aerospace company's stock valued at $7,818,000 after purchasing an additional 2,770 shares during the period. Trinity Street Asset Management LLP increased its stake in Northrop Grumman by 3.8% in the 4th quarter. Trinity Street Asset Management LLP now owns 48,367 shares of the aerospace company's stock worth $22,698,000 after acquiring an additional 1,786 shares during the last quarter. Y Intercept Hong Kong Ltd bought a new stake in Northrop Grumman in the 3rd quarter worth approximately $604,000. Fisher Asset Management LLC increased its stake in Northrop Grumman by 2.6% in the 3rd quarter. Fisher Asset Management LLC now owns 212,514 shares of the aerospace company's stock worth $112,222,000 after acquiring an additional 5,334 shares during the last quarter. Finally, Parsons Capital Management Inc. RI increased its stake in Northrop Grumman by 1,316.9% in the 4th quarter. Parsons Capital Management Inc. RI now owns 16,139 shares of the aerospace company's stock worth $7,574,000 after acquiring an additional 15,000 shares during the last quarter. Institutional investors own 83.40% of the company's stock.

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Northrop Grumman Trading Up 0.4 %

NOC traded up $1.75 during trading hours on Wednesday, reaching $491.56. 846,750 shares of the company's stock traded hands, compared to its average volume of 824,328. Northrop Grumman Co. has a 52-week low of $418.60 and a 52-week high of $555.57. The firm has a market capitalization of $71.16 billion, a PE ratio of 17.35, a PEG ratio of 3.73 and a beta of 0.31. The firm has a 50-day moving average price of $473.40 and a 200 day moving average price of $493.79. 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 (NYSE:NOC - Get Free Report) last issued its earnings results 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 return on equity of 26.24% and a net margin of 10.17%. As a group, sell-side analysts predict that Northrop Grumman Co. will post 28.05 EPS for the current fiscal year.

Northrop Grumman Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 19th. Shareholders of record on Monday, March 3rd will be issued a $2.06 dividend. This represents a $8.24 annualized dividend and a dividend yield of 1.68%. The ex-dividend date of this dividend is Monday, March 3rd. Northrop Grumman's dividend payout ratio is 29.08%.

Northrop Grumman announced that its Board of Directors has authorized a share repurchase program on Wednesday, December 11th that authorizes the company to buyback $3.00 billion in shares. This buyback authorization authorizes the aerospace company to repurchase up to 4.3% of its stock through open market purchases. Stock buyback programs are generally a sign that the company's board of directors believes its stock is undervalued.

Wall Street Analyst Weigh In

A number of research firms have issued reports on NOC. Wells Fargo & Company lifted their price objective on Northrop Grumman from $545.00 to $547.00 and gave the stock an "overweight" rating in a research note on Friday, March 7th. Citigroup lifted their price objective on Northrop Grumman from $587.00 to $591.00 and gave the stock a "buy" rating in a research note on Monday, February 10th. Susquehanna cut their target price 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. StockNews.com downgraded Northrop Grumman from a "strong-buy" rating to a "buy" rating in a research report on Monday, February 3rd. Finally, Barclays cut their target price on Northrop Grumman from $550.00 to $500.00 and set an "equal weight" rating on the stock in a research report on Monday, January 6th. Nine analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $542.88.

Insiders Place Their Bets

In related news, CEO Kathy J. Warden sold 3,750 shares of the company's stock in a transaction on 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 sale, the chief executive officer now directly owns 212,852 shares in the company, valued at $101,243,053.80. This represents a 1.73 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, VP Benjamin R. Davies sold 192 shares of the company's stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $429.08, for a total value of $82,383.36. Following the sale, the vice president now owns 709 shares of the company's stock, valued at $304,217.72. This trade represents a 21.31 % 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.

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.