Trust Co. of Toledo NA OH Lowers Position in Northrop Grumman Co. (NYSE:NOC)

Trust Co. of Toledo NA OH trimmed its holdings in shares of Northrop Grumman Co. (NYSE:NOC) by 7.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 957 shares of the aerospace company’s stock after selling 75 shares during the quarter. Trust Co. of Toledo NA OH’s holdings in Northrop Grumman were worth $449,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Y Intercept Hong Kong Ltd purchased a new position in Northrop Grumman during the third quarter worth about $604,000. Fisher Asset Management LLC grew its position in Northrop Grumman by 2.6% during the third quarter. Fisher Asset Management LLC now owns 212,514 shares of the aerospace company’s stock worth $112,222,000 after buying an additional 5,334 shares in the last quarter. AIA Group Ltd grew its position in Northrop Grumman by 20.0% during the third quarter. AIA Group Ltd now owns 7,458 shares of the aerospace company’s stock worth $3,938,000 after buying an additional 1,242 shares in the last quarter. Aviso Wealth Management grew its position in Northrop Grumman by 110.7% during the second quarter. Aviso Wealth Management now owns 1,896 shares of the aerospace company’s stock worth $827,000 after buying an additional 996 shares in the last quarter. Finally, Susquehanna International Securities Ltd. purchased a new position in Northrop Grumman during the second quarter worth about $1,133,000. 83.40% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Northrop Grumman

In other Northrop Grumman news, VP Benjamin R. Davies sold 1,156 shares of the company’s stock in a transaction that occurred 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 in the company, valued at approximately $286,183.41. This represents a 68.28 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have sold a total of 1,255 shares of company stock worth $663,859 in the last 90 days. Company insiders own 0.22% of the company’s stock.

Northrop Grumman Stock Up 3.1 %

Shares of NYSE:NOC opened at $473.09 on Tuesday. Northrop Grumman Co. has a 1 year low of $418.60 and a 1 year high of $555.57. The company has a market cap of $68.93 billion, a PE ratio of 29.31, a P/E/G ratio of 0.97 and a beta of 0.35. The company has a debt-to-equity ratio of 1.00, a current ratio of 1.09 and a quick ratio of 0.97. The stock’s 50-day moving average is $484.06 and its 200 day moving average is $493.34.

Northrop Grumman (NYSE:NOC) last announced its quarterly 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 company had revenue of $10 billion for the quarter, compared to the consensus estimate of $10.18 billion. During the same quarter in the previous year, the business earned $6.18 EPS. Northrop Grumman’s revenue was up 2.3% compared to the same quarter last year. Sell-side analysts anticipate that Northrop Grumman Co. will post 25.93 EPS for the current year.

Northrop Grumman declared that its board has authorized a share repurchase program 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 programs are often a sign that the company’s board believes its shares are undervalued.

Northrop Grumman Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, December 18th. Investors of record on Monday, December 2nd were issued a dividend of $2.06 per share. The ex-dividend date of this dividend was Monday, December 2nd. This represents a $8.24 dividend on an annualized basis and a yield of 1.74%. Northrop Grumman’s dividend payout ratio is presently 51.05%.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the company. Wells Fargo & Company raised Northrop Grumman from an “equal weight” rating to an “overweight” rating and set a $595.00 price target for the company in a research note on Wednesday, January 8th. Barclays dropped their price target on Northrop Grumman from $550.00 to $500.00 and set an “equal weight” rating for the company in a research note on Monday, January 6th. StockNews.com lowered Northrop Grumman from a “strong-buy” rating to a “buy” rating in a research note on Saturday. TD Cowen raised Northrop Grumman to a “hold” rating in a research note on Tuesday, October 8th. Finally, Royal Bank of Canada lifted their price target on Northrop Grumman from $500.00 to $540.00 and gave the stock a “sector perform” rating in a research note on Friday, October 25th. Nine equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $551.40.

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.