First Citizens Bank & Trust Co. Has $916,000 Position in Northrop Grumman Co. (NYSE:NOC)

First Citizens Bank & Trust Co. reduced its holdings in Northrop Grumman Co. (NYSE:NOCFree Report) by 19.0% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 1,957 shares of the aerospace company’s stock after selling 460 shares during the quarter. First Citizens Bank & Trust Co.’s holdings in Northrop Grumman were worth $916,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently made changes to their positions in NOC. Cibc World Market Inc. grew its position in shares of Northrop Grumman by 59.4% in the first quarter. Cibc World Market Inc. now owns 7,390 shares of the aerospace company’s stock valued at $3,305,000 after purchasing an additional 2,753 shares during the last quarter. Vontobel Holding Ltd. grew its position in shares of Northrop Grumman by 41.4% in the first quarter. Vontobel Holding Ltd. now owns 3,445 shares of the aerospace company’s stock valued at $1,541,000 after purchasing an additional 1,008 shares during the last quarter. Prudential PLC acquired a new stake in shares of Northrop Grumman in the first quarter valued at about $1,514,000. Sequoia Financial Advisors LLC grew its position in shares of Northrop Grumman by 21.6% in the first quarter. Sequoia Financial Advisors LLC now owns 1,390 shares of the aerospace company’s stock valued at $622,000 after purchasing an additional 247 shares during the last quarter. Finally, Zions Bancorporation N.A. lifted its stake in shares of Northrop Grumman by 11.0% in the first quarter. Zions Bancorporation N.A. now owns 1,890 shares of the aerospace company’s stock valued at $845,000 after buying an additional 187 shares during the period. 83.40% of the stock is owned by institutional investors and hedge funds.

Northrop Grumman Stock Down 1.1 %

Shares of NOC opened at $466.36 on Wednesday. The stock has a market cap of $69.97 billion, a price-to-earnings ratio of 34.60, a P/E/G ratio of 1.90 and a beta of 0.35. The company has a quick ratio of 1.05, a current ratio of 1.15 and a debt-to-equity ratio of 0.93. Northrop Grumman Co. has a 12 month low of $414.56 and a 12 month high of $496.89. The company has a 50-day moving average price of $457.49 and a two-hundred day moving average price of $462.60.

Northrop Grumman (NYSE:NOCGet Free Report) last posted its quarterly earnings data on Thursday, January 25th. The aerospace company reported $6.27 earnings per share for the quarter, topping the consensus estimate of $5.80 by $0.47. The company had revenue of $10.64 billion during the quarter, compared to analyst estimates of $10.43 billion. Northrop Grumman had a net margin of 5.23% and a return on equity of 23.07%. The company’s revenue was up 6.0% on a year-over-year basis. During the same quarter last year, the business posted $7.50 earnings per share. Equities analysts predict that Northrop Grumman Co. will post 24.67 EPS for the current fiscal year.

Northrop Grumman Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 13th. Stockholders of record on Monday, February 26th were issued a dividend of $1.87 per share. This represents a $7.48 annualized dividend and a dividend yield of 1.60%. The ex-dividend date of this dividend was Friday, February 23rd. Northrop Grumman’s payout ratio is 55.49%.

Insider Transactions at Northrop Grumman

In other news, VP Kathryn G. Simpson sold 1,273 shares of the firm’s stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $450.37, for a total transaction of $573,321.01. Following the completion of the sale, the vice president now owns 2,735 shares of the company’s stock, valued at $1,231,761.95. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In related news, CAO Michael A. Hardesty sold 210 shares of the firm’s stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $454.68, for a total value of $95,482.80. Following the completion of the sale, the chief accounting officer now owns 3,127 shares of the company’s stock, valued at $1,421,784.36. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP Kathryn G. Simpson sold 1,273 shares of the firm’s stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $450.37, for a total transaction of $573,321.01. Following the completion of the sale, the vice president now directly owns 2,735 shares of the company’s stock, valued at approximately $1,231,761.95. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 3,149 shares of company stock valued at $1,421,147. Corporate insiders own 0.26% of the company’s stock.

Analyst Ratings Changes

NOC has been the subject of several research reports. Susquehanna reduced their target price on shares of Northrop Grumman from $560.00 to $540.00 and set a “positive” rating for the company in a research note on Friday, January 26th. Robert W. Baird reduced their target price on shares of Northrop Grumman from $505.00 to $475.00 and set a “neutral” rating for the company in a research note on Friday, January 26th. StockNews.com cut shares of Northrop Grumman from a “buy” rating to a “hold” rating in a research note on Monday, January 29th. Deutsche Bank Aktiengesellschaft cut shares of Northrop Grumman from a “buy” rating to a “hold” rating and reduced their target price for the company from $541.00 to $473.00 in a research note on Friday, December 15th. Finally, TheStreet cut shares of Northrop Grumman from a “b+” rating to a “c+” rating in a research note on Thursday, January 25th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $494.33.

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About Northrop Grumman

(Free Report)

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.

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Institutional Ownership by Quarter for Northrop Grumman (NYSE:NOC)

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