Northrop Grumman Co. (NYSE:NOC) Shares Sold by AIA Group Ltd

Posted by Defense World Staff on Apr 16th, 2023

AIA Group Ltd lessened its stake in Northrop Grumman Co. (NYSE:NOC – Get Rating) by 59.8% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 695 shares of the aerospace company’s stock after selling 1,036 shares during the period. AIA Group Ltd’s holdings in Northrop Grumman were worth $379,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. EWG Elevate Inc. acquired a new position in Northrop Grumman in the 4th quarter valued at about $25,000. Concord Wealth Partners acquired a new position in Northrop Grumman in the 4th quarter valued at about $32,000. MADDEN SECURITIES Corp acquired a new position in Northrop Grumman in the 4th quarter valued at about $36,000. EdgeRock Capital LLC acquired a new position in Northrop Grumman in the 3rd quarter valued at about $38,000. Finally, Baldwin Brothers LLC MA purchased a new stake in Northrop Grumman in the 4th quarter valued at approximately $38,000. Institutional investors and hedge funds own 84.32% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on NOC. Cowen lowered Northrop Grumman from an “outperform” rating to a “market perform” rating and set a $478.00 price objective on the stock. in a report on Friday, January 27th. Wells Fargo & Company lifted their price objective on Northrop Grumman from $460.00 to $470.00 and gave the company an “equal weight” rating in a report on Tuesday, January 31st. Morgan Stanley lowered their price objective on Northrop Grumman from $626.00 to $601.00 and set an “overweight” rating on the stock in a report on Friday, January 27th. Bank of America lowered their price objective on Northrop Grumman from $700.00 to $655.00 in a report on Sunday, January 29th. Finally, Royal Bank of Canada decreased their price target on Northrop Grumman from $550.00 to $520.00 and set an “outperform” rating on the stock in a research note on Friday, January 27th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $508.13.

Northrop Grumman Price Performance

NOC stock opened at $472.57 on Friday. Northrop Grumman Co. has a 1 year low of $430.93 and a 1 year high of $556.27. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.99 and a current ratio of 1.08. The stock’s 50 day moving average price is $462.89 and its 200 day moving average price is $491.67. The firm has a market cap of $71.85 billion, a P/E ratio of 15.00, a PEG ratio of 6.24 and a beta of 0.51.

Northrop Grumman (NYSE:NOC – Get Rating) last posted its earnings results on Thursday, January 26th. The aerospace company reported $7.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $6.57 by $0.93. Northrop Grumman had a return on equity of 28.29% and a net margin of 13.38%. The firm had revenue of $10 billion for the quarter, compared to analyst estimates of $9.64 billion. During the same quarter in the prior year, the company earned $6.00 EPS. Northrop Grumman’s revenue was up 16.3% on a year-over-year basis. On average, sell-side analysts expect that Northrop Grumman Co. will post 22.04 earnings per share for the current fiscal year.

Northrop Grumman Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 15th. Investors of record on Monday, February 27th were paid a $1.73 dividend. This represents a $6.92 dividend on an annualized basis and a yield of 1.46%. The ex-dividend date of this dividend was Friday, February 24th. Northrop Grumman’s payout ratio is currently 21.96%.

Insider Activity at Northrop Grumman

In other Northrop Grumman news, VP David T. Perry sold 3,999 shares of the business’s stock in a transaction on Monday, March 6th. The stock was sold at an average price of $469.65, for a total value of $1,878,130.35. Following the completion of the transaction, the vice president now directly owns 8,717 shares in the company, valued at approximately $4,093,939.05. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Northrop Grumman news, VP David T. Perry sold 3,999 shares of the business’s stock in a transaction on Monday, March 6th. The stock was sold at an average price of $469.65, for a total value of $1,878,130.35. Following the completion of the transaction, the vice president now directly owns 8,717 shares in the company, valued at approximately $4,093,939.05. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Mark A. Caylor sold 2,810 shares of the business’s stock in a transaction on Friday, March 3rd. The shares were sold at an average price of $467.58, for a total value of $1,313,899.80. Following the completion of the transaction, the vice president now owns 16,240 shares of the company’s stock, valued at $7,593,499.20. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 10,534 shares of company stock valued at $4,934,622. 0.26% of the stock is owned by corporate insiders.

About Northrop Grumman

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Northrop Grumman Corp. engages in the provision of advanced aircraft systems. It operates through the following segments: Aeronautics Systems, Defense Systems, Mission Systems, and Space Systems. The Aeronautics Systems segment is involved in the design, development, production, integration, sustainment, and modernization of advanced aircraft systems for the U.S.