CNB Bank Increases Stock Position in Northrop Grumman Co. (NYSE:NOC)

CNB Bank grew its holdings in shares of Northrop Grumman Co. (NYSE:NOC) by 5.5% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,165 shares of the aerospace company’s stock after purchasing an additional 113 shares during the period. CNB Bank’s holdings in Northrop Grumman were worth $1,016,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Y Intercept Hong Kong Ltd acquired a new position in Northrop Grumman during the third quarter worth $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. AIA Group Ltd increased its holdings in shares of Northrop Grumman by 20.0% in 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. Aviso Wealth Management lifted its stake in shares of Northrop Grumman by 110.7% in the second quarter. Aviso Wealth Management now owns 1,896 shares of the aerospace company’s stock valued at $827,000 after purchasing an additional 996 shares during the period. Finally, Susquehanna International Securities Ltd. acquired a new stake in shares of Northrop Grumman in the second quarter valued at about $1,133,000. 83.40% of the stock is owned by hedge funds and other institutional investors.

Northrop Grumman Stock Performance

Northrop Grumman stock opened at $481.09 on Friday. The stock has a fifty day moving average price of $482.29 and a 200 day moving average price of $493.47. 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 $70.09 billion, a P/E ratio of 29.81, a PEG ratio of 0.87 and a beta of 0.35. The company has a current ratio of 1.09, a quick ratio of 0.97 and a debt-to-equity ratio of 1.00.

Northrop Grumman (NYSE:NOC) last posted its quarterly earnings data on Thursday, October 24th. The aerospace company reported $7.00 EPS for the quarter, beating analysts’ consensus estimates of $6.07 by $0.93. Northrop Grumman had a net margin of 5.79% and a return on equity of 26.57%. The company had revenue of $10 billion during the quarter, compared to the consensus estimate of $10.18 billion. During the same quarter in the prior year, the company posted $6.18 EPS. The company’s quarterly revenue was up 2.3% compared to the same quarter last year. Equities research analysts anticipate that Northrop Grumman Co. will post 25.93 earnings per share for the current year.

Northrop Grumman declared that its board has authorized a stock repurchase plan on Wednesday, December 11th that permits the company to repurchase $3.00 billion in outstanding 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.

Northrop Grumman Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, December 18th. Shareholders 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 dividend on an annualized basis and a dividend yield of 1.71%. Northrop Grumman’s dividend payout ratio (DPR) is presently 51.05%.

Insider Activity

In related news, VP Benjamin R. Davies sold 1,156 shares of the stock in a transaction on Monday, November 11th. The stock was sold at an average price of $532.93, for a total value of $616,067.08. Following the transaction, the vice president now directly owns 537 shares of the company’s stock, valued at approximately $286,183.41. This trade represents a 68.28 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders sold 1,255 shares of company stock valued at $663,859 in the last ninety days. Company insiders own 0.22% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on NOC shares. Barclays dropped their target price on shares of Northrop Grumman from $550.00 to $500.00 and set an “equal weight” rating for the company in a report on Monday, January 6th. Susquehanna reduced their price objective on Northrop Grumman from $625.00 to $557.00 and set a “positive” rating for the company in a report on Wednesday, January 8th. Wells Fargo & Company raised Northrop Grumman from an “equal weight” rating to an “overweight” rating and set a $595.00 target price on the stock in a report on Wednesday, January 8th. StockNews.com downgraded Northrop Grumman from a “strong-buy” rating to a “buy” rating in a research note on Saturday, January 11th. Finally, UBS Group increased their price objective on shares of Northrop Grumman from $614.00 to $643.00 and gave the company a “buy” rating in a research note on Friday, October 25th. Nine equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $550.94.

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.