Northrop Grumman Co. (NYSE:NOC) Shares Sold by OVERSEA CHINESE BANKING Corp Ltd

OVERSEA CHINESE BANKING Corp Ltd trimmed its holdings in Northrop Grumman Co. (NYSE:NOC) by 8.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,459 shares of the aerospace company’s stock after selling 127 shares during the quarter. OVERSEA CHINESE BANKING Corp Ltd’s holdings in Northrop Grumman were worth $685,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. RPg Family Wealth Advisory LLC purchased a new position in Northrop Grumman during the 3rd quarter worth $31,000. Whipplewood Advisors LLC acquired a new stake in shares of Northrop Grumman during the 4th quarter valued at approximately $31,000. Albion Financial Group UT purchased a new stake in Northrop Grumman during the fourth quarter worth $33,000. FSA Wealth Management LLC acquired a new position in shares of Northrop Grumman during the 3rd quarter worth $36,000. Finally, Modus Advisors LLC purchased a new stake in shares of Northrop Grumman in the 4th quarter worth about $38,000. Hedge funds and other institutional investors own 83.40% of the company’s stock.

Insider Buying and Selling at Northrop Grumman

In other news, VP Benjamin R. Davies sold 192 shares of Northrop Grumman stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $429.08, for a total transaction of $82,383.36. Following the sale, the vice president now directly owns 709 shares of the company’s stock, valued at approximately $304,217.72. The trade was a 21.31 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Kathy J. Warden sold 3,750 shares of the business’s stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $475.65, for a total value of $1,783,687.50. Following the completion of the transaction, the chief executive officer now owns 212,852 shares in the company, valued at approximately $101,243,053.80. This trade represents a 1.73 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 4,505 shares of company stock valued at $2,126,405 over the last 90 days. 0.22% of the stock is owned by corporate insiders.

Northrop Grumman Price Performance

Northrop Grumman stock opened at $491.56 on Thursday. The firm has a fifty day moving average of $473.98 and a 200-day moving average of $493.77. Northrop Grumman Co. has a 52-week low of $418.60 and a 52-week high of $555.57. The company has a quick ratio of 0.91, a current ratio of 1.01 and a debt-to-equity ratio of 0.96. The firm has a market capitalization of $71.16 billion, a P/E ratio of 17.35, a PEG ratio of 3.73 and a beta of 0.31.

Northrop Grumman (NYSE:NOC) last released its quarterly earnings data 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%. As a group, analysts predict that Northrop Grumman Co. will post 28.05 EPS for the current year.

Northrop Grumman announced that its board has initiated a stock repurchase plan on Wednesday, December 11th that authorizes the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization authorizes the aerospace company to purchase up to 4.3% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.

Northrop Grumman Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 19th. Shareholders of record on Monday, March 3rd were issued a $2.06 dividend. This represents a $8.24 dividend on an annualized basis and a yield of 1.68%. The ex-dividend date of this dividend was Monday, March 3rd. Northrop Grumman’s dividend payout ratio is presently 29.08%.

Analysts Set New Price Targets

Several analysts have recently commented on NOC shares. Wolfe Research upgraded shares of Northrop Grumman from an “underperform” rating to a “peer perform” rating in a research report on Monday, February 3rd. Argus upgraded Northrop Grumman to a “strong-buy” rating in a report on Wednesday, February 26th. UBS Group cut their price target on Northrop Grumman from $579.00 to $558.00 and set a “buy” rating for the company in a report on Friday, January 31st. Citigroup increased their price objective on Northrop Grumman from $587.00 to $591.00 and gave the company a “buy” rating in a research note on Monday, February 10th. Finally, Truist Financial began coverage on shares of Northrop Grumman in a research note on Tuesday, January 14th. They issued a “buy” rating and a $544.00 target price for the company. Nine research analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $542.88.

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.