Northrop Grumman Co. (NYSE:NOC) Shares Sold by FARMERS & MERCHANTS TRUST Co OF LONG BEACH

FARMERS & MERCHANTS TRUST Co OF LONG BEACH cut its stake in shares of Northrop Grumman Co. (NYSE:NOC) by 6.7% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 6,384 shares of the aerospace company’s stock after selling 457 shares during the quarter. Northrop Grumman makes up approximately 0.7% of FARMERS & MERCHANTS TRUST Co OF LONG BEACH’s portfolio, making the stock its 29th biggest position. FARMERS & MERCHANTS TRUST Co OF LONG BEACH’s holdings in Northrop Grumman were worth $2,996,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in NOC. RPg Family Wealth Advisory LLC acquired a new position in Northrop Grumman during the 3rd quarter worth approximately $31,000. FSA Wealth Management LLC purchased a new stake in shares of Northrop Grumman during the 3rd quarter worth $36,000. Modus Advisors LLC acquired a new position in shares of Northrop Grumman during the fourth quarter worth $38,000. Catalyst Capital Advisors LLC purchased a new position in Northrop Grumman in the third quarter valued at $40,000. Finally, True Wealth Design LLC acquired a new stake in Northrop Grumman in the third quarter valued at $53,000. 83.40% of the stock is currently owned by hedge funds and other institutional investors.

Northrop Grumman Stock Performance

Shares of NOC stock opened at $482.49 on Friday. Northrop Grumman Co. has a 52-week low of $418.60 and a 52-week high of $555.57. The stock’s 50-day moving average price is $481.48 and its 200 day moving average price is $493.38. The company has a quick ratio of 0.97, a current ratio of 1.09 and a debt-to-equity ratio of 1.00. The stock has a market capitalization of $70.30 billion, a PE ratio of 29.89, a price-to-earnings-growth ratio of 0.87 and a beta of 0.35.

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

Northrop Grumman Announces Dividend

The company also recently announced 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 1.71%. The ex-dividend date of this dividend was Monday, December 2nd. Northrop Grumman’s payout ratio is 51.05%.

Northrop Grumman declared that its board has authorized a share buyback program on Wednesday, December 11th that authorizes the company to buyback $3.00 billion in outstanding shares. This buyback authorization authorizes the aerospace company to purchase up to 4.3% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s leadership believes its stock is undervalued.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the company. Truist Financial began coverage on Northrop Grumman in a research report on Tuesday. They set a “buy” rating and a $544.00 price objective for the company. Citigroup upped their price target on Northrop Grumman from $521.00 to $587.00 and gave the company a “neutral” rating in a report on Thursday, October 10th. Barclays dropped their price target 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. Royal Bank of Canada boosted 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 increased their target price on shares of Northrop Grumman from $614.00 to $643.00 and gave the company a “buy” rating in a research report on Friday, October 25th. Nine investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $550.94.

Insider Transactions at Northrop Grumman

In related news, VP Benjamin R. Davies sold 1,156 shares of the company’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $532.93, for a total transaction of $616,067.08. Following the transaction, the vice president now owns 537 shares of the company’s stock, valued at $286,183.41. This represents a 68.28 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders have sold a total of 1,255 shares of company stock worth $663,859 over the last ninety days. 0.22% of the stock is currently owned by company insiders.

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.