Northrop Grumman Co. (NYSE:NOC) Shares Sold by US Bancorp DE

US Bancorp DE trimmed its holdings in Northrop Grumman Co. (NYSE:NOC - Free Report) by 2.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 102,684 shares of the aerospace company's stock after selling 2,129 shares during the quarter. US Bancorp DE owned 0.07% of Northrop Grumman worth $48,188,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in the business. Lockheed Martin Investment Management Co. boosted its stake in shares of Northrop Grumman by 19.9% in the fourth quarter. Lockheed Martin Investment Management Co. now owns 16,660 shares of the aerospace company's stock worth $7,818,000 after buying an additional 2,770 shares during the last quarter. Trinity Street Asset Management LLP lifted its holdings in Northrop Grumman by 3.8% in the fourth quarter. Trinity Street Asset Management LLP now owns 48,367 shares of the aerospace company's stock valued at $22,698,000 after acquiring an additional 1,786 shares during the period. Y Intercept Hong Kong Ltd purchased a new stake in Northrop Grumman in the 3rd quarter worth approximately $604,000. Fisher Asset Management LLC grew its stake in shares of Northrop Grumman by 2.6% during the 3rd quarter. Fisher Asset Management LLC now owns 212,514 shares of the aerospace company's stock worth $112,222,000 after purchasing an additional 5,334 shares during the period. Finally, AIA Group Ltd increased its holdings in shares of Northrop Grumman by 20.0% during the 3rd quarter. AIA Group Ltd now owns 7,458 shares of the aerospace company's stock valued at $3,938,000 after purchasing an additional 1,242 shares in the last quarter. 83.40% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on NOC shares. Wells Fargo & Company lowered their price target on shares of Northrop Grumman from $574.00 to $545.00 and set an "overweight" rating on the stock in a report on Wednesday, February 26th. Barclays lowered their target price on shares of Northrop Grumman from $550.00 to $500.00 and set an "equal weight" rating on the stock in a research note on Monday, January 6th. UBS Group dropped their target price on Northrop Grumman from $579.00 to $558.00 and set a "buy" rating on the stock in a research report on Friday, January 31st. StockNews.com cut Northrop Grumman from a "strong-buy" rating to a "buy" rating in a report on Monday, February 3rd. Finally, Susquehanna dropped their price objective on Northrop Grumman from $625.00 to $557.00 and set a "positive" rating on the stock in a report on Wednesday, January 8th. Nine equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $542.75.

Northrop Grumman Price Performance

Shares of NYSE:NOC traded up $10.88 during midday trading on Wednesday, hitting $474.71. The company's stock had a trading volume of 1,188,398 shares, compared to its average volume of 997,238. The company has a market cap of $68.72 billion, a P/E ratio of 16.75, a price-to-earnings-growth ratio of 3.73 and a beta of 0.35. Northrop Grumman Co. has a 12-month low of $418.60 and a 12-month high of $555.57. The business's 50 day simple moving average is $469.50 and its 200 day simple moving average is $495.46. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.91 and a current ratio of 1.01.

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

Northrop Grumman Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, March 19th. Shareholders of record on Monday, March 3rd will be paid a $2.06 dividend. This represents a $8.24 dividend on an annualized basis and a dividend yield of 1.74%. The ex-dividend date of this dividend is Monday, March 3rd. Northrop Grumman's dividend payout ratio (DPR) is presently 29.08%.

Northrop Grumman announced that its board has authorized a stock 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 reacquire up to 4.3% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company's board of directors believes its stock is undervalued.

Insiders Place Their Bets

In related news, VP Benjamin R. Davies sold 192 shares of the company's stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $429.08, for a total value of $82,383.36. Following the completion of the sale, the vice president now owns 709 shares of the company's stock, valued at approximately $304,217.72. This represents a 21.31 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders sold 755 shares of company stock valued at $342,972 in the last three months. 0.22% of the stock is currently owned by insiders.

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.