Truist Financial Corp cut its holdings in Northrop Grumman Co. (NYSE:NOC – Free Report) by 6.5% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 41,665 shares of the aerospace company’s stock after selling 2,881 shares during the quarter. Truist Financial Corp’s holdings in Northrop Grumman were worth $19,238,000 at the end of the most recent quarter.
Several other large investors have also modified their holdings of the business. IHT Wealth Management LLC grew its position in shares of Northrop Grumman by 1.6% in the first quarter. IHT Wealth Management LLC now owns 1,371 shares of the aerospace company’s stock valued at $613,000 after purchasing an additional 22 shares during the last quarter. Prestige Wealth Management Group LLC grew its position in shares of Northrop Grumman by 2.9% in the fourth quarter. Prestige Wealth Management Group LLC now owns 810 shares of the aerospace company’s stock valued at $442,000 after purchasing an additional 23 shares during the last quarter. Alaethes Wealth LLC grew its position in shares of Northrop Grumman by 0.9% in the fourth quarter. Alaethes Wealth LLC now owns 2,446 shares of the aerospace company’s stock valued at $1,334,000 after purchasing an additional 23 shares during the last quarter. Trust Co. of Toledo NA OH grew its position in shares of Northrop Grumman by 2.8% in the first quarter. Trust Co. of Toledo NA OH now owns 855 shares of the aerospace company’s stock valued at $395,000 after purchasing an additional 23 shares during the last quarter. Finally, Octavia Wealth Advisors LLC grew its position in shares of Northrop Grumman by 3.7% in the first quarter. Octavia Wealth Advisors LLC now owns 652 shares of the aerospace company’s stock valued at $301,000 after purchasing an additional 23 shares during the last quarter. 81.68% of the stock is currently owned by institutional investors and hedge funds.
Analysts Set New Price Targets
NOC has been the topic of a number of analyst reports. Royal Bank of Canada restated an “outperform” rating and set a $500.00 target price on shares of Northrop Grumman in a research report on Thursday, August 3rd. StockNews.com upgraded shares of Northrop Grumman from a “hold” rating to a “buy” rating in a research report on Friday. Barclays lowered shares of Northrop Grumman from an “overweight” rating to an “equal weight” rating and decreased their target price for the stock from $580.00 to $450.00 in a research report on Thursday, May 11th. Citigroup decreased their target price on shares of Northrop Grumman from $502.00 to $485.00 and set a “neutral” rating on the stock in a research report on Friday, July 28th. Finally, Sanford C. Bernstein cut their price target on shares of Northrop Grumman from $581.00 to $569.00 in a research note on Friday, June 30th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $509.75.
Northrop Grumman Trading Down 0.5 %
Shares of NOC stock opened at $436.45 on Tuesday. The company has a debt-to-equity ratio of 0.89, a quick ratio of 1.09 and a current ratio of 1.20. Northrop Grumman Co. has a 52-week low of $429.10 and a 52-week high of $556.27. The stock has a market cap of $66.03 billion, a price-to-earnings ratio of 14.46, a P/E/G ratio of 4.77 and a beta of 0.51. The firm has a fifty day moving average of $450.73 and a 200-day moving average of $454.77.
Northrop Grumman (NYSE:NOC – Get Free Report) last announced its earnings results on Thursday, July 27th. The aerospace company reported $5.34 EPS for the quarter, topping the consensus estimate of $5.31 by $0.03. The firm had revenue of $9.58 billion for the quarter, compared to the consensus estimate of $9.32 billion. Northrop Grumman had a net margin of 12.27% and a return on equity of 24.90%. On average, equities research analysts forecast that Northrop Grumman Co. will post 22.66 earnings per share for the current fiscal year.
Northrop Grumman Increases Dividend
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 14th. Stockholders of record on Tuesday, May 30th were paid a $1.87 dividend. The ex-dividend date of this dividend was Friday, May 26th. This represents a $7.48 annualized dividend and a dividend yield of 1.71%. This is an increase from Northrop Grumman’s previous quarterly dividend of $1.73. Northrop Grumman’s dividend payout ratio is currently 24.78%.
Northrop Grumman Company Profile
Northrop Grumman Corporation operates as an aerospace and defense company worldwide. The company's Aeronautics Systems segment designs, develops, manufactures, integrates, and sustains aircraft systems in the United States and internationally. 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.
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