First National Trust Co Sells 3,072 Shares of Northrop Grumman Co. (NYSE:NOC)

First National Trust Co decreased its position in shares of Northrop Grumman Co. (NYSE:NOC) by 14.3% in the 4th quarter, HoldingsChannel reports. The fund owned 18,341 shares of the aerospace company’s stock after selling 3,072 shares during the period. First National Trust Co’s holdings in Northrop Grumman were worth $8,586,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. London Co. of Virginia bought a new position in Northrop Grumman in the 3rd quarter valued at about $165,786,000. Invesco Ltd. lifted its holdings in shares of Northrop Grumman by 74.7% in the third quarter. Invesco Ltd. now owns 1,174,556 shares of the aerospace company’s stock valued at $517,028,000 after purchasing an additional 502,060 shares in the last quarter. Raymond James Trust N.A. boosted its position in shares of Northrop Grumman by 19.7% during the fourth quarter. Raymond James Trust N.A. now owns 16,515 shares of the aerospace company’s stock valued at $7,731,000 after buying an additional 2,723 shares during the last quarter. Phraction Management LLC bought a new stake in Northrop Grumman during the third quarter worth $677,000. Finally, Cerity Partners LLC grew its holdings in Northrop Grumman by 2,801.7% during the fourth quarter. Cerity Partners LLC now owns 330,499 shares of the aerospace company’s stock worth $154,720,000 after buying an additional 319,109 shares in the last quarter. 83.40% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Northrop Grumman

In related news, VP Kathryn G. Simpson sold 711 shares of Northrop Grumman stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $453.22, for a total value of $322,239.42. Following the completion of the transaction, the vice president now directly owns 2,024 shares in the company, valued at approximately $917,317.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, VP Kathryn G. Simpson sold 711 shares of the stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $453.22, for a total transaction of $322,239.42. Following the sale, the vice president now owns 2,024 shares of the company’s stock, valued at approximately $917,317.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Michael A. Hardesty sold 210 shares of Northrop Grumman stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $454.68, for a total value of $95,482.80. Following the transaction, the chief accounting officer now directly owns 3,127 shares of the company’s stock, valued at approximately $1,421,784.36. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 3,149 shares of company stock worth $1,421,147. 0.22% of the stock is owned by corporate insiders.

Northrop Grumman Stock Performance

NYSE:NOC traded down $5.91 during trading hours on Friday, reaching $469.09. The stock had a trading volume of 1,443,462 shares, compared to its average volume of 1,144,324. The stock has a market cap of $69.42 billion, a P/E ratio of 32.80, a price-to-earnings-growth ratio of 1.93 and a beta of 0.34. The stock has a 50 day simple moving average of $464.96 and a 200 day simple moving average of $465.81. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.02 and a current ratio of 1.13. Northrop Grumman Co. has a 12-month low of $414.56 and a 12-month high of $496.89.

Northrop Grumman (NYSE:NOC) last posted its quarterly earnings results on Thursday, April 25th. The aerospace company reported $6.32 earnings per share for the quarter, topping the consensus estimate of $5.83 by $0.49. Northrop Grumman had a return on equity of 24.09% and a net margin of 5.38%. The company had revenue of $10.13 billion during the quarter, compared to the consensus estimate of $9.77 billion. During the same quarter in the prior year, the company earned $5.50 EPS. The firm’s quarterly revenue was up 8.9% compared to the same quarter last year. On average, research analysts forecast that Northrop Grumman Co. will post 24.7 EPS for the current fiscal year.

Northrop Grumman Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 13th. Stockholders of record on Monday, February 26th were given a $1.87 dividend. This represents a $7.48 annualized dividend and a dividend yield of 1.59%. The ex-dividend date was Friday, February 23rd. Northrop Grumman’s dividend payout ratio (DPR) is currently 52.31%.

Analysts Set New Price Targets

NOC has been the topic of a number of analyst reports. StockNews.com raised shares of Northrop Grumman from a “hold” rating to a “buy” rating in a report on Friday, April 26th. Royal Bank of Canada boosted their price target on shares of Northrop Grumman from $450.00 to $475.00 and gave the stock a “sector perform” rating in a report on Friday, April 26th. TheStreet lowered shares of Northrop Grumman from a “b+” rating to a “c+” rating in a research note on Thursday, January 25th. Alembic Global Advisors upgraded Northrop Grumman from a “neutral” rating to an “overweight” rating and set a $532.00 target price on the stock in a research note on Monday, April 22nd. Finally, Susquehanna upped their target price on Northrop Grumman from $540.00 to $560.00 and gave the company a “positive” rating in a report on Friday, April 26th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $509.38.

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.