Private Trust Co. NA Has $3.73 Million Position in Northrop Grumman Co. (NYSE:NOC)

Private Trust Co. NA cut its holdings in Northrop Grumman Co. (NYSE:NOC) by 8.2% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 7,053 shares of the aerospace company’s stock after selling 626 shares during the quarter. Private Trust Co. NA’s holdings in Northrop Grumman were worth $3,725,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in the business. Optimum Investment Advisors increased its stake in shares of Northrop Grumman by 241.2% in the 2nd quarter. Optimum Investment Advisors now owns 58 shares of the aerospace company’s stock valued at $25,000 after buying an additional 41 shares during the period. Bank & Trust Co acquired a new stake in Northrop Grumman in the second quarter worth about $28,000. Meeder Asset Management Inc. lifted its position in Northrop Grumman by 245.5% during the 2nd quarter. Meeder Asset Management Inc. now owns 76 shares of the aerospace company’s stock valued at $33,000 after purchasing an additional 54 shares during the period. Catalyst Capital Advisors LLC acquired a new stake in shares of Northrop Grumman during the 3rd quarter worth approximately $40,000. Finally, Strategic Financial Concepts LLC acquired a new position in Northrop Grumman in the second quarter valued at about $47,000. 83.40% of the stock is owned by institutional investors.

Insider Activity

In other Northrop Grumman news, VP Benjamin R. Davies sold 1,156 shares of the firm’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $532.93, for a total value of $616,067.08. Following the transaction, the vice president now directly owns 537 shares of the company’s stock, valued at $286,183.41. This trade represents a 68.28 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Over the last ninety days, insiders sold 1,289 shares of company stock worth $685,273. Corporate insiders own 0.22% of the company’s stock.

Northrop Grumman Stock Performance

NYSE NOC opened at $485.00 on Monday. Northrop Grumman Co. has a 52-week low of $418.60 and a 52-week high of $555.57. The stock has a market cap of $70.66 billion, a PE ratio of 30.79, a P/E/G ratio of 1.00 and a beta of 0.35. The firm has a 50-day moving average of $520.60 and a 200-day moving average of $486.94. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.97 and a current ratio of 1.09.

Northrop Grumman (NYSE:NOC) last posted its earnings results on Thursday, October 24th. The aerospace company reported $7.00 earnings per share for the quarter, topping 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 during the quarter, compared to the consensus estimate of $10.18 billion. During the same quarter last year, the firm earned $6.18 earnings per share. The company’s revenue was up 2.3% on a year-over-year basis. On average, sell-side analysts anticipate that Northrop Grumman Co. will post 25.93 EPS for the current year.

Northrop Grumman Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 18th. Shareholders of record on Monday, December 2nd will be given a dividend of $2.06 per share. The ex-dividend date is Monday, December 2nd. This represents a $8.24 dividend on an annualized basis and a dividend yield of 1.70%. Northrop Grumman’s payout ratio is presently 51.05%.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the stock. Royal Bank of Canada upped their price objective on shares of Northrop Grumman from $500.00 to $540.00 and gave the company a “sector perform” rating in a research report on Friday, October 25th. Citigroup increased their target price on Northrop Grumman from $521.00 to $587.00 and gave the stock a “neutral” rating in a research note on Thursday, October 10th. Morgan Stanley lifted their price target on shares of Northrop Grumman from $579.00 to $592.00 and gave the company an “overweight” rating in a research note on Friday, August 9th. JPMorgan Chase & Co. increased their price objective on shares of Northrop Grumman from $500.00 to $560.00 and gave the stock a “neutral” rating in a research report on Monday, October 14th. Finally, Wells Fargo & Company boosted their price objective on shares of Northrop Grumman from $509.00 to $565.00 and gave the company an “equal weight” rating in a research report on Friday, October 25th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $550.56.

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.