Truist Financial Corp Sells 5,247 Shares of Northrop Grumman Co. (NYSE:NOC)

Truist Financial Corp lowered its stake in Northrop Grumman Co. (NYSE:NOC - Free Report) by 11.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 39,868 shares of the aerospace company's stock after selling 5,247 shares during the quarter. Truist Financial Corp's holdings in Northrop Grumman were worth $18,710,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of NOC. Foundations Investment Advisors LLC boosted its holdings in shares of Northrop Grumman by 1.4% in the 3rd quarter. Foundations Investment Advisors LLC now owns 1,478 shares of the aerospace company's stock worth $780,000 after acquiring an additional 20 shares in the last quarter. PBMares Wealth Management LLC boosted its holdings in shares of Northrop Grumman by 0.5% in 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 in the last quarter. Hudson Valley Investment Advisors Inc. ADV boosted its holdings in shares of 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 worth $1,194,000 after acquiring an additional 20 shares in the last quarter. Meeder Advisory Services Inc. boosted its holdings in shares of Northrop Grumman by 0.9% in the 3rd quarter. Meeder Advisory Services Inc. now owns 2,288 shares of the aerospace company's stock worth $1,208,000 after acquiring an additional 20 shares in the last quarter. Finally, Frank Rimerman Advisors LLC boosted its holdings in shares of Northrop Grumman by 1.1% in the 3rd quarter. Frank Rimerman Advisors LLC now owns 1,937 shares of the aerospace company's stock worth $1,023,000 after acquiring an additional 21 shares in the last quarter. Hedge funds and other institutional investors own 83.40% of the company's stock.

Northrop Grumman Trading Up 2.5 %

Shares of Northrop Grumman stock traded up $11.07 on Friday, hitting $449.18. 925,420 shares of the company's stock traded hands, compared to its average volume of 934,464. The firm's 50-day moving average price is $471.66 and its two-hundred day moving average price is $497.75. The stock has a market capitalization of $65.02 billion, a PE ratio of 15.82, a price-to-earnings-growth ratio of 3.69 and a beta of 0.35. Northrop Grumman Co. has a one year low of $418.60 and a one year high of $555.57. The company has a debt-to-equity ratio of 0.96, a current ratio of 1.01 and a quick ratio of 0.91.

Northrop Grumman (NYSE:NOC - Get Free Report) last issued 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 net margin of 10.17% and a return on equity of 26.24%. On average, research analysts expect that Northrop Grumman Co. will post 28.05 EPS for the current fiscal year.

Northrop Grumman announced that its board has approved a share buyback plan on Wednesday, December 11th that permits the company to repurchase $3.00 billion in shares. This repurchase authorization permits the aerospace company to buy up to 4.3% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company's leadership believes its shares are undervalued.

Northrop Grumman Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 19th. Investors of record on Monday, March 3rd will be given a $2.06 dividend. This represents a $8.24 dividend on an annualized basis and a dividend yield of 1.83%. The ex-dividend date of this dividend is Monday, March 3rd. Northrop Grumman's dividend payout ratio is currently 29.08%.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on NOC shares. Barclays reduced their target price on Northrop Grumman from $550.00 to $500.00 and set an "equal weight" rating on the stock in a report on Monday, January 6th. Susquehanna reduced their target price on Northrop Grumman from $625.00 to $557.00 and set a "positive" rating on the stock in a report on Wednesday, January 8th. UBS Group reduced their target price on Northrop Grumman from $579.00 to $558.00 and set a "buy" rating on the stock in a report on Friday, January 31st. Truist Financial assumed coverage on Northrop Grumman in a report on Tuesday, January 14th. They set a "buy" rating and a $544.00 price objective on the stock. Finally, Citigroup upped their price objective on Northrop Grumman from $587.00 to $591.00 and gave the stock a "buy" rating in a report on Monday, February 10th. Nine research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $544.56.

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.