Greenleaf Trust Sells 115 Shares of Northrop Grumman Co. (NYSE:NOC)

Greenleaf Trust lessened its position in Northrop Grumman Co. (NYSE:NOC) by 3.3% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 3,322 shares of the aerospace company’s stock after selling 115 shares during the period. Greenleaf Trust’s holdings in Northrop Grumman were worth $1,559,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Czech National Bank increased its holdings in shares of Northrop Grumman by 5.6% during the third quarter. Czech National Bank now owns 28,004 shares of the aerospace company’s stock worth $14,788,000 after buying an additional 1,495 shares in the last quarter. GAMMA Investing LLC increased its holdings in Northrop Grumman by 24.1% during the 3rd quarter. GAMMA Investing LLC now owns 2,789 shares of the aerospace company’s stock valued at $1,473,000 after purchasing an additional 541 shares in the last quarter. Diversified Trust Co raised its position in Northrop Grumman by 2.8% in the 3rd quarter. Diversified Trust Co now owns 2,016 shares of the aerospace company’s stock valued at $1,065,000 after purchasing an additional 54 shares during the last quarter. Everpar Advisors LLC acquired a new position in Northrop Grumman in the third quarter worth $223,000. Finally, Lakeridge Wealth Management LLC bought a new stake in shares of Northrop Grumman during the third quarter worth $227,000. Institutional investors and hedge funds own 83.40% of the company’s stock.

Northrop Grumman Price Performance

Shares of NOC stock opened at $486.97 on Monday. The firm has a market capitalization of $70.49 billion, a price-to-earnings ratio of 17.18, a price-to-earnings-growth ratio of 0.91 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 company has a quick ratio of 0.91, a current ratio of 1.01 and a debt-to-equity ratio of 0.96. The firm has a fifty day moving average of $478.20 and a 200-day moving average of $498.35.

Northrop Grumman (NYSE:NOC) last announced its quarterly earnings results on Thursday, January 30th. The aerospace company reported $6.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.27 by $0.12. Northrop Grumman had a return on equity of 26.24% and a net margin of 10.17%. On average, equities research analysts forecast that Northrop Grumman Co. will post 28.04 earnings per share for the current year.

Northrop Grumman Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, December 18th. Stockholders of record on Monday, December 2nd were issued a $2.06 dividend. This represents a $8.24 annualized dividend and a dividend yield of 1.69%. The ex-dividend date of this dividend was Monday, December 2nd. Northrop Grumman’s dividend payout ratio (DPR) is presently 29.08%.

Northrop Grumman announced that its board has initiated a share buyback plan on Wednesday, December 11th that allows the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization allows the aerospace company to purchase up to 4.3% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s leadership believes its shares are undervalued.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the company. Truist Financial started coverage on Northrop Grumman in a report on Tuesday, January 14th. They issued a “buy” rating and a $544.00 price target for the company. TD Cowen raised shares of Northrop Grumman to a “hold” rating in a report on Tuesday, October 8th. Wells Fargo & Company reduced their price objective on Northrop Grumman from $595.00 to $574.00 and set an “overweight” rating on the stock in a report on Friday. Royal Bank of Canada lifted their target price on Northrop Grumman from $500.00 to $540.00 and gave the company a “sector perform” rating in a research note on Friday, October 25th. Finally, JPMorgan Chase & Co. upped their price target on Northrop Grumman from $500.00 to $560.00 and gave the company a “neutral” rating in a research note on Monday, October 14th. Eight equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $544.31.

Insider Transactions at Northrop Grumman

In related news, VP Benjamin R. Davies sold 1,156 shares of the stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $532.93, for a total transaction of $616,067.08. Following the completion of the transaction, the vice president now directly owns 537 shares in the company, valued at approximately $286,183.41. This trade represents a 68.28 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders sold 1,255 shares of company stock valued at $663,859 over the last quarter. Corporate insiders own 0.22% of the company’s stock.

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.