Northrop Grumman Co. (NYSE:NOC) Shares Bought by Pinnacle Financial Partners Inc

Pinnacle Financial Partners Inc boosted its stake in shares of Northrop Grumman Co. (NYSE:NOC) by 4.1% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 2,585 shares of the aerospace company’s stock after purchasing an additional 103 shares during the period. Pinnacle Financial Partners Inc’s holdings in Northrop Grumman were worth $1,365,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of NOC. Simmons Bank lifted its stake in shares of Northrop Grumman by 5.5% during the third quarter. Simmons Bank now owns 1,176 shares of the aerospace company’s stock worth $621,000 after buying an additional 61 shares during the period. RMR Capital Management LLC acquired a new stake in Northrop Grumman during the 3rd quarter worth about $211,000. Aptus Capital Advisors LLC lifted its position in Northrop Grumman by 6.5% during the 3rd quarter. Aptus Capital Advisors LLC now owns 1,937 shares of the aerospace company’s stock worth $1,023,000 after acquiring an additional 118 shares during the period. Sumitomo Mitsui Trust Group Inc. grew its stake in Northrop Grumman by 0.3% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 353,466 shares of the aerospace company’s stock valued at $186,655,000 after purchasing an additional 1,028 shares during the last quarter. Finally, OVERSEA CHINESE BANKING Corp Ltd raised its stake in shares of Northrop Grumman by 40.2% in the third quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 1,586 shares of the aerospace company’s stock worth $838,000 after purchasing an additional 455 shares during the last quarter. Institutional investors and hedge funds own 83.40% of the company’s stock.

Northrop Grumman Price Performance

Northrop Grumman stock opened at $500.34 on Friday. The stock has a market capitalization of $72.90 billion, a P/E ratio of 31.00, a P/E/G ratio of 1.07 and a beta of 0.35. The company’s fifty day moving average price is $524.08 and its 200 day moving average price is $486.03. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.97 and a current ratio of 1.09. Northrop Grumman Co. has a 1 year low of $418.60 and a 1 year high of $555.57.

Northrop Grumman (NYSE:NOC) last announced its earnings results on Thursday, October 24th. The aerospace company reported $7.00 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.07 by $0.93. Northrop Grumman had a net margin of 5.79% and a return on equity of 26.57%. The business had revenue of $10 billion for the quarter, compared to analyst estimates of $10.18 billion. During the same quarter last year, the business earned $6.18 earnings per share. The company’s revenue for the quarter was up 2.3% compared to the same quarter last year. As a group, equities research analysts anticipate that Northrop Grumman Co. will post 25.95 earnings per share for the current fiscal year.

Northrop Grumman Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 18th. Stockholders of record on Tuesday, September 3rd were given a $2.06 dividend. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $8.24 annualized dividend and a dividend yield of 1.65%. Northrop Grumman’s dividend payout ratio (DPR) is presently 51.05%.

Analyst Ratings Changes

A number of equities research analysts recently commented on the company. Wells Fargo & Company upped their target price on Northrop Grumman from $509.00 to $565.00 and gave the company an “equal weight” rating in a research report on Friday, October 25th. Alembic Global Advisors downgraded shares of Northrop Grumman from an “overweight” rating to a “neutral” rating and set a $560.00 price objective on the stock. in a report on Tuesday, August 27th. TD Cowen upgraded shares of Northrop Grumman to a “hold” rating in a research report on Tuesday, October 8th. Deutsche Bank Aktiengesellschaft raised shares of Northrop Grumman from a “hold” rating to a “buy” rating and upped their price target for the company from $474.00 to $575.00 in a report on Monday, July 29th. Finally, JPMorgan Chase & Co. lifted their price objective on Northrop Grumman from $500.00 to $560.00 and gave the company a “neutral” rating in a research note on Monday, October 14th. One analyst has rated the stock with a sell rating, ten have given a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $550.56.

Insider Transactions at Northrop Grumman

In other Northrop Grumman news, VP Benjamin R. Davies sold 1,156 shares of the firm’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $532.93, for a total value of $616,067.08. Following the transaction, the vice president now owns 537 shares in the company, valued at approximately $286,183.41. This trade represents a 68.28 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders have sold 1,289 shares of company stock valued at $685,273 over the last ninety days. Insiders own 0.22% of the company’s stock.

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.