OLD National Bancorp IN Has $1.58 Million Stake in Northrop Grumman Co. (NYSE:NOC)

OLD National Bancorp IN reduced its holdings in Northrop Grumman Co. (NYSE:NOC) by 6.8% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 3,612 shares of the aerospace company’s stock after selling 262 shares during the quarter. OLD National Bancorp IN’s holdings in Northrop Grumman were worth $1,575,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in NOC. Gulf International Bank UK Ltd lifted its holdings in shares of Northrop Grumman by 1,402.9% during the first quarter. Gulf International Bank UK Ltd now owns 12,925 shares of the aerospace company’s stock worth $6,186,000 after buying an additional 12,065 shares during the last quarter. Diversify Advisory Services LLC acquired a new position in shares of Northrop Grumman during the first quarter valued at about $870,000. Norden Group LLC bought a new stake in shares of Northrop Grumman in the first quarter valued at about $778,000. Fisher Asset Management LLC grew its position in Northrop Grumman by 7,574.5% during the fourth quarter. Fisher Asset Management LLC now owns 123,637 shares of the aerospace company’s stock worth $57,879,000 after buying an additional 122,026 shares in the last quarter. Finally, Red Mountain Financial LLC acquired a new position in Northrop Grumman in the 4th quarter valued at approximately $264,000. Institutional investors and hedge funds own 83.40% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the company. StockNews.com upgraded Northrop Grumman from a “hold” rating to a “buy” rating in a research report on Friday, July 12th. UBS Group boosted their price target on shares of Northrop Grumman from $593.00 to $605.00 and gave the company a “buy” rating in a report on Friday, July 26th. Susquehanna raised their price objective on shares of Northrop Grumman from $540.00 to $560.00 and gave the stock a “positive” rating in a report on Friday, April 26th. BTIG Research initiated coverage on shares of Northrop Grumman in a research report on Wednesday, June 26th. They issued a “buy” rating and a $565.00 price target for the company. Finally, Morgan Stanley raised their price target on shares of Northrop Grumman from $579.00 to $592.00 and gave the stock an “overweight” rating in a research note on Friday. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and seven have issued a buy rating to the company. According to MarketBeat, Northrop Grumman presently has a consensus rating of “Hold” and an average price target of $521.33.

Insider Buying and Selling at Northrop Grumman

In other news, VP Thomas H. Jones sold 1,389 shares of the firm’s stock in a transaction on Friday, July 26th. The stock was sold at an average price of $477.56, for a total value of $663,330.84. Following the transaction, the vice president now directly owns 6,755 shares in the company, valued at approximately $3,225,917.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, VP Thomas H. Jones sold 1,389 shares of the business’s stock in a transaction dated Friday, July 26th. The stock was sold at an average price of $477.56, for a total transaction of $663,330.84. Following the completion of the transaction, the vice president now directly owns 6,755 shares in the company, valued at approximately $3,225,917.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, VP Thomas H. Jones sold 1,390 shares of the stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $500.00, for a total transaction of $695,000.00. Following the completion of the sale, the vice president now owns 4,634 shares in the company, valued at $2,317,000. The disclosure for this sale can be found here. Corporate insiders own 0.22% of the company’s stock.

Northrop Grumman Price Performance

Shares of NOC stock traded up $3.02 during trading hours on Friday, reaching $494.34. 515,441 shares of the company were exchanged, compared to its average volume of 968,294. Northrop Grumman Co. has a fifty-two week low of $414.56 and a fifty-two week high of $506.83. The company has a debt-to-equity ratio of 1.03, a current ratio of 1.11 and a quick ratio of 0.99. The stock’s fifty day moving average is $446.99 and its two-hundred day moving average is $456.53. The company has a market cap of $73.16 billion, a price-to-earnings ratio of 34.57, a P/E/G ratio of 2.26 and a beta of 0.32.

Northrop Grumman (NYSE:NOC) last announced its quarterly earnings data on Thursday, July 25th. The aerospace company reported $6.36 EPS for the quarter, topping analysts’ consensus estimates of $5.93 by $0.43. Northrop Grumman had a return on equity of 25.44% and a net margin of 5.61%. The firm had revenue of $10.22 billion during the quarter, compared to analyst estimates of $10.02 billion. During the same period last year, the company earned $5.34 earnings per share. The company’s revenue was up 6.7% on a year-over-year basis. Sell-side analysts forecast that Northrop Grumman Co. will post 25.18 earnings per share for the current fiscal year.

Northrop Grumman Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 12th. Shareholders of record on Tuesday, May 28th were issued a dividend of $2.06 per share. This represents a $8.24 dividend on an annualized basis and a yield of 1.67%. The ex-dividend date of this dividend was Friday, May 24th. This is a positive change from Northrop Grumman’s previous quarterly dividend of $1.87. Northrop Grumman’s payout ratio is currently 57.62%.

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.