First American Bank Has $8.76 Million Stock Holdings in Northrop Grumman Co. (NYSE:NOC)

by · The Cerbat Gem

First American Bank cut its position in shares of Northrop Grumman Co. (NYSE:NOC – Free Report) by 0.7% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 16,596 shares of the aerospace company’s stock after selling 113 shares during the quarter. First American Bank’s holdings in Northrop Grumman were worth $8,764,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in NOC. Wealthcare Advisory Partners LLC grew its position in Northrop Grumman by 13.4% during the first quarter. Wealthcare Advisory Partners LLC now owns 1,540 shares of the aerospace company’s stock worth $737,000 after buying an additional 182 shares in the last quarter. Cornerstone Wealth Group LLC acquired a new stake in Northrop Grumman during the first quarter worth about $218,000. Aviance Capital Partners LLC bought a new position in Northrop Grumman during the first quarter worth about $1,063,000. Claro Advisors LLC lifted its stake in Northrop Grumman by 2.6% during the first quarter. Claro Advisors LLC now owns 2,009 shares of the aerospace company’s stock worth $962,000 after purchasing an additional 51 shares during the period. Finally, FARMERS & MERCHANTS TRUST Co OF LONG BEACH lifted its stake in Northrop Grumman by 3.4% during the first quarter. FARMERS & MERCHANTS TRUST Co OF LONG BEACH now owns 7,975 shares of the aerospace company’s stock worth $3,817,000 after purchasing an additional 264 shares during the period. 83.40% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have commented on NOC shares. Susquehanna raised their price target on shares of Northrop Grumman from $560.00 to $625.00 and gave the stock a “positive” rating in a research note on Friday. TD Cowen upgraded shares of Northrop Grumman to a “hold” rating in a research note on Tuesday, October 8th. Deutsche Bank Aktiengesellschaft upgraded shares of Northrop Grumman from a “hold” rating to a “buy” rating and raised their price target for the stock from $474.00 to $575.00 in a research note on Monday, July 29th. Barclays raised their price target on shares of Northrop Grumman from $470.00 to $500.00 and gave the stock an “equal weight” rating in a research note on Tuesday, July 30th. Finally, Royal Bank of Canada raised their price target on shares of Northrop Grumman from $500.00 to $540.00 and gave the stock a “sector perform” rating in a research note on Friday. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and six have given a buy rating to the stock. According to MarketBeat, Northrop Grumman has an average rating of “Hold” and a consensus price target of $547.44.

Get Our Latest Analysis on Northrop Grumman

Northrop Grumman Stock Down 0.8 %

NYSE:NOC opened at $519.35 on Monday. The stock’s fifty day moving average price is $523.54 and its two-hundred day moving average price is $481.38. Northrop Grumman Co. has a 52-week low of $418.60 and a 52-week high of $555.57. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.99 and a current ratio of 1.11. The company has a market cap of $76.86 billion, a price-to-earnings ratio of 36.32, a P/E/G ratio of 2.38 and a beta of 0.34.

Northrop Grumman (NYSE:NOC – Get Free Report) last issued its earnings results on Thursday, October 24th. The aerospace company reported $7.00 EPS for the quarter, beating the consensus estimate of $6.07 by $0.93. The company had revenue of $10 billion during the quarter, compared to analysts’ expectations of $10.18 billion. Northrop Grumman had a net margin of 5.61% and a return on equity of 25.44%. The business’s revenue for the quarter was up 2.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $6.18 EPS. On average, analysts anticipate that Northrop Grumman Co. will post 25.16 EPS for the current year.

Northrop Grumman Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 18th. Shareholders of record on Tuesday, September 3rd were given a dividend of $2.06 per share. This represents a $8.24 annualized dividend and a dividend yield of 1.59%. The ex-dividend date of this dividend was Tuesday, September 3rd. Northrop Grumman’s payout ratio is 57.62%.

Insider Buying and Selling at Northrop Grumman

In related news, VP Thomas H. Jones sold 1,390 shares of the firm’s stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $500.00, for a total transaction of $695,000.00. Following the sale, the vice president now owns 4,634 shares of the company’s stock, valued at approximately $2,317,000. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In the last 90 days, insiders sold 1,490 shares of company stock worth $747,372. Insiders own 0.22% of the company’s stock.

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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