Northrop Grumman Co. (NYSE:NOC) Shares Sold by Keybank National Association OH

Keybank National Association OH cut its stake in Northrop Grumman Co. (NYSE:NOC) by 2.7% during the 4th quarter, Holdings Channel.com reports. The fund owned 36,192 shares of the aerospace company’s stock after selling 993 shares during the period. Keybank National Association OH’s holdings in Northrop Grumman were worth $16,985,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. RPg Family Wealth Advisory LLC acquired a new position in shares of Northrop Grumman in the 3rd quarter valued at $31,000. Whipplewood Advisors LLC acquired a new stake in shares of Northrop Grumman during the 4th quarter worth $31,000. FSA Wealth Management LLC purchased a new position in shares of Northrop Grumman in the 3rd quarter worth $36,000. Albion Financial Group UT acquired a new position in Northrop Grumman in the fourth quarter valued at $33,000. Finally, Catalyst Capital Advisors LLC acquired a new position in Northrop Grumman in the third quarter valued at $40,000. 83.40% of the stock is owned by institutional investors and hedge funds.

Northrop Grumman Trading Down 1.9 %

Shares of NOC opened at $464.34 on Wednesday. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.91 and a current ratio of 1.01. Northrop Grumman Co. has a one year low of $418.60 and a one year high of $555.57. The stock has a 50-day moving average price of $469.43 and a 200 day moving average price of $495.61. The company has a market capitalization of $67.22 billion, a P/E ratio of 16.38, a P/E/G ratio of 3.73 and a beta of 0.35.

Northrop Grumman (NYSE:NOC) last released its earnings results 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 return on equity of 26.24% and a net margin of 10.17%. Sell-side analysts forecast that Northrop Grumman Co. will post 28.05 EPS for the current fiscal year.

Northrop Grumman Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, March 19th. Stockholders of record on Monday, March 3rd will be given a $2.06 dividend. This represents a $8.24 annualized dividend and a dividend yield of 1.77%. The ex-dividend date is Monday, March 3rd. Northrop Grumman’s payout ratio is currently 29.08%.

Northrop Grumman announced that its Board of Directors has authorized a share buyback plan on Wednesday, December 11th that permits the company to repurchase $3.00 billion in shares. This repurchase authorization permits 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.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the company. UBS Group cut their price objective on Northrop Grumman from $579.00 to $558.00 and set a “buy” rating on the stock in a report on Friday, January 31st. Susquehanna cut their price target on shares of Northrop Grumman from $625.00 to $557.00 and set a “positive” rating on the stock in a report on Wednesday, January 8th. Argus raised shares of Northrop Grumman to a “strong-buy” rating in a research report on Wednesday, February 26th. Citigroup increased their price objective on shares of Northrop Grumman from $587.00 to $591.00 and gave the stock a “buy” rating in a research report on Monday, February 10th. Finally, StockNews.com lowered shares of Northrop Grumman from a “strong-buy” rating to a “buy” rating in a 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 issued a strong buy rating to the company. According to MarketBeat.com, Northrop Grumman has an average rating of “Moderate Buy” and a consensus price target of $542.75.

Insider Activity

In related news, VP Benjamin R. Davies sold 192 shares of the business’s stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $429.08, for a total value of $82,383.36. Following the completion of the sale, the vice president now directly owns 709 shares of the company’s stock, valued at $304,217.72. The trade was a 21.31 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In the last 90 days, insiders have sold 755 shares of company stock worth $342,972. 0.22% of the stock is currently owned by corporate insiders.

Northrop Grumman Company 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.