Associated Banc Corp Has $32.36 Million Stake in Northrop Grumman Co. (NYSE:NOC)

Associated Banc Corp trimmed its holdings in Northrop Grumman Co. (NYSE:NOC) by 2.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 68,944 shares of the aerospace company’s stock after selling 2,069 shares during the period. Northrop Grumman accounts for 1.0% of Associated Banc Corp’s holdings, making the stock its 29th largest position. Associated Banc Corp’s holdings in Northrop Grumman were worth $32,355,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Meeder Advisory Services Inc. boosted its position in shares of Northrop Grumman by 0.9% during the 3rd quarter. Meeder Advisory Services Inc. now owns 2,288 shares of the aerospace company’s stock worth $1,208,000 after purchasing an additional 20 shares in the last quarter. Thompson Siegel & Walmsley LLC boosted its position in shares of Northrop Grumman by 0.3% during the 3rd quarter. Thompson Siegel & Walmsley LLC now owns 8,320 shares of the aerospace company’s stock worth $4,394,000 after purchasing an additional 21 shares in the last quarter. Sapient Capital LLC boosted its position in shares of Northrop Grumman by 1.1% during the 4th quarter. Sapient Capital LLC now owns 2,049 shares of the aerospace company’s stock worth $962,000 after purchasing an additional 22 shares in the last quarter. Bank Pictet & Cie Europe AG boosted its position in shares of Northrop Grumman by 2.2% during the 4th quarter. Bank Pictet & Cie Europe AG now owns 1,006 shares of the aerospace company’s stock worth $472,000 after purchasing an additional 22 shares in the last quarter. Finally, Mather Group LLC. boosted its position in shares of Northrop Grumman by 2.6% during the 4th quarter. Mather Group LLC. now owns 900 shares of the aerospace company’s stock worth $422,000 after purchasing an additional 23 shares in the last quarter. 83.40% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Northrop Grumman

In other news, CEO Kathy J. Warden sold 3,750 shares of the firm’s stock in a transaction that occurred on Thursday, March 6th. The shares were sold at an average price of $475.65, for a total transaction of $1,783,687.50. Following the completion of the sale, the chief executive officer now owns 212,852 shares in the company, valued at $101,243,053.80. This trade represents a 1.73 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Benjamin R. Davies sold 464 shares of the firm’s stock in a transaction that occurred on Friday, February 28th. The stock was sold at an average price of $460.75, for a total transaction of $213,788.00. Following the sale, the vice president now owns 245 shares of the company’s stock, valued at approximately $112,883.75. The trade was a 65.44 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 4,505 shares of company stock worth $2,126,405 in the last quarter. Insiders own 0.22% of the company’s stock.

Wall Street Analysts Forecast Growth

NOC has been the topic of a number of research analyst reports. Barclays cut their price objective on shares of 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. Argus raised shares of Northrop Grumman to a “strong-buy” rating in a research report on Wednesday, February 26th. Citigroup raised their price target on shares of Northrop Grumman from $587.00 to $591.00 and gave the company a “buy” rating in a research report on Monday, February 10th. Susquehanna dropped their price target on shares of Northrop Grumman from $625.00 to $557.00 and set a “positive” rating on the stock in a research report on Wednesday, January 8th. Finally, Wolfe Research raised shares of Northrop Grumman from an “underperform” rating to a “peer perform” rating in a research report on Monday, February 3rd. Nine equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $542.88.

Northrop Grumman Trading Down 0.9 %

NYSE:NOC opened at $486.10 on Friday. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.91 and a current ratio of 1.01. The firm has a market cap of $70.37 billion, a price-to-earnings ratio of 17.15, a price-to-earnings-growth ratio of 3.73 and a beta of 0.31. Northrop Grumman Co. has a 52 week low of $418.60 and a 52 week high of $555.57. The firm has a 50-day moving average price of $471.93 and a two-hundred day moving average price of $494.49.

Northrop Grumman (NYSE:NOC) last posted its quarterly earnings data on Thursday, January 30th. The aerospace company reported $6.39 EPS for the quarter, beating the consensus estimate of $6.27 by $0.12. Northrop Grumman had a net margin of 10.17% and a return on equity of 26.24%. On average, equities analysts expect that Northrop Grumman Co. will post 28.05 earnings per share for the current fiscal year.

Northrop Grumman declared that its board has authorized a share repurchase plan on Wednesday, December 11th that allows the company to repurchase $3.00 billion in shares. This repurchase authorization allows the aerospace company to purchase up to 4.3% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s management believes its shares are undervalued.

Northrop Grumman Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 19th. Stockholders of record on Monday, March 3rd will be paid a dividend of $2.06 per share. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $8.24 annualized dividend and a dividend yield of 1.70%. Northrop Grumman’s payout ratio is currently 29.08%.

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.