Synovus Financial Corp Sells 580 Shares of Northrop Grumman Co. (NYSE:NOC)

Synovus Financial Corp cut its holdings in Northrop Grumman Co. (NYSE:NOC - Free Report) by 20.6% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 2,234 shares of the aerospace company's stock after selling 580 shares during the period. Synovus Financial Corp's holdings in Northrop Grumman were worth $1,050,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Vanguard Group Inc. grew its position in Northrop Grumman by 0.5% in the fourth quarter. Vanguard Group Inc. now owns 12,677,781 shares of the aerospace company's stock worth $5,949,556,000 after buying an additional 56,807 shares during the last quarter. Wellington Management Group LLP raised its holdings in Northrop Grumman by 0.6% in the 4th quarter. Wellington Management Group LLP now owns 4,164,700 shares of the aerospace company's stock valued at $1,954,452,000 after acquiring an additional 23,808 shares in the last quarter. Geode Capital Management LLC boosted its holdings in Northrop Grumman by 0.7% during the fourth quarter. Geode Capital Management LLC now owns 3,025,263 shares of the aerospace company's stock valued at $1,417,850,000 after purchasing an additional 21,903 shares in the last quarter. FMR LLC lifted its holdings in Northrop Grumman by 4.1% during the 4th quarter. FMR LLC now owns 2,807,223 shares of the aerospace company's stock valued at $1,317,402,000 after purchasing an additional 109,308 shares during the last quarter. Finally, Franklin Resources Inc. boosted its holdings in shares of Northrop Grumman by 4.4% in the 4th quarter. Franklin Resources Inc. now owns 2,533,378 shares of the aerospace company's stock worth $1,188,889,000 after acquiring an additional 107,108 shares in the last quarter. Institutional investors and hedge funds own 83.40% of the company's stock.

Northrop Grumman Stock Up 0.5 %

Shares of NYSE:NOC traded up $2.45 during mid-day trading on Friday, reaching $539.96. 1,102,225 shares of the stock were exchanged, compared to its average volume of 865,399. The stock's 50 day simple moving average is $488.43 and its 200-day simple moving average is $491.81. 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 one year low of $418.60 and a one year high of $555.57. The company has a market cap of $77.83 billion, a P/E ratio of 19.05, a P/E/G ratio of 3.73 and a beta of 0.20.

Northrop Grumman (NYSE:NOC - Get Free Report) last released its quarterly earnings data on Thursday, January 30th. The aerospace company reported $6.39 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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, equities research analysts predict that Northrop Grumman Co. will post 28.05 EPS for the current year.

Northrop Grumman Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 19th. Stockholders of record on Monday, March 3rd were paid a $2.06 dividend. The ex-dividend date was Monday, March 3rd. This represents a $8.24 annualized dividend and a dividend yield of 1.53%. Northrop Grumman's payout ratio is 29.08%.

Insider Buying and Selling at Northrop Grumman

In other news, VP Benjamin R. Davies sold 192 shares of Northrop Grumman stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $429.08, for a total value of $82,383.36. Following the completion of the transaction, the vice president now directly owns 709 shares of the company's stock, valued at approximately $304,217.72. This trade represents a 21.31 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Kathy J. Warden sold 3,750 shares of the stock in a transaction on Thursday, March 6th. The stock was sold at an average price of $475.65, for a total value of $1,783,687.50. Following the completion of the transaction, the chief executive officer now owns 212,852 shares in the company, valued at approximately $101,243,053.80. This represents a 1.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 4,505 shares of company stock worth $2,127,182 over the last quarter. Corporate insiders own 0.23% of the company's stock.

Wall Street Analysts Forecast Growth

NOC has been the subject of several research analyst reports. Barclays cut their price objective on Northrop Grumman from $550.00 to $500.00 and set an "equal weight" rating for the company in a research report on Monday, January 6th. Morgan Stanley raised their price objective on shares of Northrop Grumman from $580.00 to $625.00 and gave the company an "overweight" rating in a research report on Wednesday. Susquehanna reduced their target price on shares of Northrop Grumman from $625.00 to $557.00 and set a "positive" rating on the stock in a research report on Wednesday, January 8th. Truist Financial boosted their price objective on shares of Northrop Grumman from $545.00 to $600.00 and gave the stock a "buy" rating in a research report on Thursday. Finally, Citigroup increased their price objective on Northrop Grumman from $587.00 to $591.00 and gave the company a "buy" rating in a research report on Monday, February 10th. Nine analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Northrop Grumman presently has a consensus rating of "Moderate Buy" and an average price target of $548.88.

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.