OLD Second National Bank of Aurora Has $1.60 Million Stake in Northrop Grumman Co. (NYSE:NOC)

OLD Second National Bank of Aurora boosted its stake in Northrop Grumman Co. (NYSE:NOC - Free Report) by 26.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,403 shares of the aerospace company's stock after buying an additional 713 shares during the quarter. OLD Second National Bank of Aurora's holdings in Northrop Grumman were worth $1,597,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in NOC. Cornell Pochily Investment Advisors Inc. grew its position in shares of Northrop Grumman by 0.9% during the 3rd quarter. Cornell Pochily Investment Advisors Inc. now owns 2,141 shares of the aerospace company's stock worth $1,131,000 after purchasing an additional 20 shares in the last quarter. Asset Dedication LLC boosted its stake in shares of Northrop Grumman by 1.0% in the third quarter. Asset Dedication LLC now owns 2,025 shares of the aerospace company's stock valued at $1,069,000 after buying an additional 20 shares during the period. Foundations Investment Advisors LLC grew its position in Northrop Grumman by 1.4% during the third quarter. Foundations Investment Advisors LLC now owns 1,478 shares of the aerospace company's stock worth $780,000 after buying an additional 20 shares in the last quarter. PBMares Wealth Management LLC increased its stake in Northrop Grumman by 0.5% during the 3rd quarter. PBMares Wealth Management LLC now owns 4,421 shares of the aerospace company's stock worth $2,335,000 after acquiring an additional 20 shares during the period. Finally, Hudson Valley Investment Advisors Inc. ADV raised its holdings in Northrop Grumman by 0.9% in the 3rd quarter. Hudson Valley Investment Advisors Inc. ADV now owns 2,262 shares of the aerospace company's stock valued at $1,194,000 after acquiring an additional 20 shares in the last quarter. Hedge funds and other institutional investors own 83.40% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the company. Royal Bank of Canada raised their price target on Northrop Grumman from $500.00 to $540.00 and gave the stock a "sector perform" rating in a research report on Friday, October 25th. Truist Financial initiated coverage on shares of Northrop Grumman in a research report on Tuesday, January 14th. They issued a "buy" rating and a $544.00 target price for the company. StockNews.com raised shares of Northrop Grumman from a "buy" rating to a "strong-buy" rating in a report on Sunday, January 19th. UBS Group decreased their price objective on shares of Northrop Grumman from $579.00 to $558.00 and set a "buy" rating on the stock in a research note on Friday. Finally, Susquehanna cut 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. Eight equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $544.31.

Northrop Grumman Trading Up 0.7 %

NOC traded up $3.60 during midday trading on Friday, hitting $486.97. 794,402 shares of the company were exchanged, compared to its average volume of 870,840. The firm has a market capitalization of $70.95 billion, a P/E ratio of 30.17, a P/E/G ratio of 0.91 and a beta of 0.35. The firm's 50 day moving average price is $478.40 and its 200-day moving average price is $497.53. The company has a quick ratio of 0.97, a current ratio of 1.09 and a debt-to-equity ratio of 1.00. Northrop Grumman Co. has a 1-year low of $418.60 and a 1-year high of $555.57.

Northrop Grumman (NYSE:NOC - Get Free Report) last announced its earnings results on Thursday, January 30th. The aerospace company reported $6.39 EPS for the quarter, beating the consensus estimate of $6.27 by $0.12. Northrop Grumman had a return on equity of 26.57% and a net margin of 5.79%. As a group, equities analysts forecast that Northrop Grumman Co. will post 25.96 EPS for the current fiscal year.

Northrop Grumman Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, December 18th. Investors of record on Monday, December 2nd were issued a $2.06 dividend. The ex-dividend date of this dividend was Monday, December 2nd. This represents a $8.24 annualized dividend and a yield of 1.69%. Northrop Grumman's payout ratio is 51.05%.

Northrop Grumman announced that its Board of Directors has approved a share repurchase plan on Wednesday, December 11th that permits the company to repurchase $3.00 billion in shares. This repurchase authorization permits the aerospace company to repurchase up to 4.3% of its shares through open market purchases. Shares repurchase plans are often a sign that the company's board of directors believes its stock is undervalued.

Insider Buying and Selling at Northrop Grumman

In other Northrop Grumman news, VP Benjamin R. Davies sold 1,156 shares of the stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $532.93, for a total transaction of $616,067.08. Following the transaction, the vice president now directly owns 537 shares in the company, valued at approximately $286,183.41. This represents a 68.28 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Over the last quarter, insiders have sold 1,255 shares of company stock valued at $663,859. 0.22% of the stock is currently owned by 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.