Stock Yards Bank & Trust Co. Raises Holdings in Northrop Grumman Co. (NYSE:NOC)

Stock Yards Bank & Trust Co. increased its position in Northrop Grumman Co. (NYSE:NOC) by 15.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 857 shares of the aerospace company’s stock after buying an additional 112 shares during the period. Stock Yards Bank & Trust Co.’s holdings in Northrop Grumman were worth $402,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Czech National Bank increased its position in Northrop Grumman by 5.6% in the third quarter. Czech National Bank now owns 28,004 shares of the aerospace company’s stock worth $14,788,000 after purchasing an additional 1,495 shares during the last quarter. GAMMA Investing LLC raised its position in shares of 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 buying an additional 541 shares in the last quarter. Diversified Trust Co lifted its holdings in shares of 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 acquiring an additional 54 shares during the last quarter. Everpar Advisors LLC purchased a new position in Northrop Grumman in the third quarter worth about $223,000. Finally, Lakeridge Wealth Management LLC bought a new stake in Northrop Grumman during the third quarter worth approximately $227,000. 83.40% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on NOC shares. Wolfe Research raised Northrop Grumman from an “underperform” rating to a “peer perform” rating in a research report on Monday. Truist Financial initiated coverage on shares of Northrop Grumman in a research note on Tuesday, January 14th. They issued a “buy” rating and a $544.00 target price on the stock. Susquehanna dropped their price target on shares of Northrop Grumman from $625.00 to $557.00 and set a “positive” rating for the company in a research note on Wednesday, January 8th. Royal Bank of Canada increased their price objective on shares of Northrop Grumman from $500.00 to $540.00 and gave the stock a “sector perform” rating in a research report on Friday, October 25th. Finally, UBS Group reduced their price target on Northrop Grumman from $579.00 to $558.00 and set a “buy” rating on the stock in a report on Friday. Nine investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $544.31.

Insider Buying and Selling at Northrop Grumman

In related news, VP Benjamin R. Davies sold 1,156 shares of the firm’s 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 sale, the vice president now directly owns 537 shares of the company’s stock, valued at $286,183.41. This trade represents a 68.28 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In the last ninety days, insiders sold 1,222 shares of company stock worth $647,025. Company insiders own 0.22% of the company’s stock.

Northrop Grumman Price Performance

NYSE NOC opened at $487.87 on Tuesday. Northrop Grumman Co. has a 52-week low of $418.60 and a 52-week high of $555.57. The firm’s 50 day moving average price is $478.20 and its 200-day moving average price is $498.76. The company has a market cap of $70.62 billion, a PE ratio of 17.21, a P/E/G ratio of 0.91 and a beta of 0.35. 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) last released 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 net margin of 10.17% and a return on equity of 26.24%. Sell-side analysts forecast that Northrop Grumman Co. will post 28.04 EPS for the current fiscal year.

Northrop Grumman Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, December 18th. Stockholders of record on Monday, December 2nd were paid 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 payout ratio is 29.08%.

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

About Northrop Grumman

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.