WASHINGTON TRUST Co Sells 86 Shares of Northrop Grumman Co. (NYSE:NOC)

WASHINGTON TRUST Co cut its position in shares of Northrop Grumman Co. (NYSE:NOC) by 7.2% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,114 shares of the aerospace company’s stock after selling 86 shares during the quarter. WASHINGTON TRUST Co’s holdings in Northrop Grumman were worth $523,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in NOC. Creative Planning boosted its position in shares of Northrop Grumman by 7.6% during the third quarter. Creative Planning now owns 42,571 shares of the aerospace company’s stock valued at $22,481,000 after purchasing an additional 3,017 shares in the last quarter. Bleakley Financial Group LLC boosted its position in shares of Northrop Grumman by 8.5% during the third quarter. Bleakley Financial Group LLC now owns 8,220 shares of the aerospace company’s stock valued at $4,341,000 after purchasing an additional 647 shares in the last quarter. Secure Asset Management LLC boosted its position in shares of Northrop Grumman by 51.4% during the third quarter. Secure Asset Management LLC now owns 742 shares of the aerospace company’s stock valued at $392,000 after purchasing an additional 252 shares in the last quarter. Trust Co. of Vermont boosted its position in shares of Northrop Grumman by 5.1% during the third quarter. Trust Co. of Vermont now owns 1,095 shares of the aerospace company’s stock valued at $578,000 after purchasing an additional 53 shares in the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd boosted its position in shares of Northrop Grumman by 5.1% during the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 16,602 shares of the aerospace company’s stock valued at $8,767,000 after purchasing an additional 803 shares in the last quarter. 83.40% of the stock is currently owned by institutional investors.

Northrop Grumman Stock Down 3.6 %

Northrop Grumman stock opened at $438.70 on Friday. The stock has a market cap of $63.51 billion, a PE ratio of 15.48, a price-to-earnings-growth ratio of 3.00 and a beta of 0.35. 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 fifty day moving average of $474.95 and a 200 day moving average of $499.19.

Northrop Grumman (NYSE:NOC) last posted its quarterly earnings data on Thursday, January 30th. The aerospace company reported $6.39 EPS for the quarter, beating analysts’ consensus estimates 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, sell-side analysts predict that Northrop Grumman Co. will post 27.94 EPS for the current year.

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

Northrop Grumman Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, December 18th. Investors of record on Monday, December 2nd were given a dividend of $2.06 per share. This represents a $8.24 dividend on an annualized basis and a yield of 1.88%. The ex-dividend date of this dividend was Monday, December 2nd. Northrop Grumman’s dividend payout ratio (DPR) is presently 29.08%.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the company. Wells Fargo & Company dropped their target price on Northrop Grumman from $595.00 to $574.00 and set an “overweight” rating on the stock in a report on Friday, January 31st. Truist Financial assumed coverage on Northrop Grumman in a report on Tuesday, January 14th. They issued a “buy” rating and a $544.00 target price on the stock. Royal Bank of Canada boosted their target price on Northrop Grumman from $500.00 to $540.00 and gave the stock a “sector perform” rating in a report on Friday, October 25th. Susquehanna dropped their target price on Northrop Grumman from $625.00 to $557.00 and set a “positive” rating on the stock in a report on Wednesday, January 8th. Finally, Wolfe Research raised Northrop Grumman from an “underperform” rating to a “peer perform” rating in a report on Monday, February 3rd. Nine research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $544.56.

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.