Northrop Grumman Co. (NYSE:NOC) Stake Lowered by Busey Bank

Busey Bank decreased its stake in Northrop Grumman Co. (NYSE:NOC) by 8.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 807 shares of the aerospace company’s stock after selling 75 shares during the period. Busey Bank’s holdings in Northrop Grumman were worth $379,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. NewEdge Advisors LLC grew its position in shares of Northrop Grumman by 23.6% during the second quarter. NewEdge Advisors LLC now owns 10,832 shares of the aerospace company’s stock worth $4,722,000 after acquiring an additional 2,066 shares during the last quarter. Northwestern Mutual Wealth Management Co. boosted its stake in Northrop Grumman by 5.9% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 16,093 shares of the aerospace company’s stock valued at $7,019,000 after purchasing an additional 898 shares during the period. Quarry LP grew its position in Northrop Grumman by 1,546.2% in the 2nd quarter. Quarry LP now owns 214 shares of the aerospace company’s stock worth $93,000 after purchasing an additional 201 shares during the last quarter. Teachers Retirement System of The State of Kentucky increased its stake in shares of Northrop Grumman by 87.8% in the second quarter. Teachers Retirement System of The State of Kentucky now owns 21,802 shares of the aerospace company’s stock valued at $9,505,000 after purchasing an additional 10,192 shares during the period. Finally, Strategic Investment Solutions Inc. IL bought a new stake in shares of Northrop Grumman during the second quarter valued at approximately $92,000. Institutional investors and hedge funds own 83.40% of the company’s stock.

Northrop Grumman Trading Up 0.4 %

Shares of NYSE NOC opened at $483.70 on Friday. The company has a quick ratio of 0.97, a current ratio of 1.09 and a debt-to-equity ratio of 1.00. Northrop Grumman Co. has a 12 month low of $418.60 and a 12 month high of $555.57. The company has a market cap of $70.48 billion, a price-to-earnings ratio of 29.97, a P/E/G ratio of 0.91 and a beta of 0.35. The business has a fifty day simple moving average of $478.66 and a 200-day simple moving average of $497.63.

Northrop Grumman (NYSE:NOC) last announced its earnings results on Thursday, January 30th. The aerospace company reported $6.39 EPS for the quarter, topping the consensus estimate of $6.27 by $0.12. Northrop Grumman had a net margin of 5.79% and a return on equity of 26.57%. Sell-side analysts predict that Northrop Grumman Co. will post 25.96 EPS for the current year.

Northrop Grumman Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, December 18th. Shareholders of record on Monday, December 2nd were paid a dividend of $2.06 per share. This represents a $8.24 annualized dividend and a yield of 1.70%. The ex-dividend date of this dividend was Monday, December 2nd. Northrop Grumman’s dividend payout ratio (DPR) is currently 51.05%.

Northrop Grumman announced that its board has approved a stock repurchase program on Wednesday, December 11th that authorizes the company to buyback $3.00 billion in shares. This buyback authorization authorizes the aerospace company to repurchase up to 4.3% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s board believes its stock is undervalued.

Analyst Upgrades and Downgrades

Several research firms recently commented on NOC. Barclays lowered their target price on Northrop Grumman from $550.00 to $500.00 and set an “equal weight” rating on the stock in a research report on Monday, January 6th. UBS Group lifted their price objective on shares of Northrop Grumman from $614.00 to $643.00 and gave the company a “buy” rating in a research note on Friday, October 25th. Susquehanna decreased their target price on shares of Northrop Grumman from $625.00 to $557.00 and set a “positive” rating for the company in a research report on Wednesday, January 8th. Royal Bank of Canada boosted their price target 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, Wells Fargo & Company upgraded shares of Northrop Grumman from an “equal weight” rating to an “overweight” rating and set a $595.00 price objective for the company in a report on Wednesday, January 8th. Eight analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Northrop Grumman presently has an average rating of “Moderate Buy” and a consensus target price of $550.94.

Insider Activity

In related news, VP Benjamin R. Davies sold 1,156 shares of the stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $532.93, for a total value of $616,067.08. Following the completion of the sale, the vice president now directly owns 537 shares of the company’s stock, valued at approximately $286,183.41. This represents a 68.28 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders sold 1,255 shares of company stock worth $663,859 over the last quarter. Corporate insiders own 0.22% of the company’s stock.

Northrop Grumman Company 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.