US Bancorp DE raised its stake in Northrop Grumman Corp. (NYSE:NOC) by 8.8% during the third quarter, Holdings Channel reports. The institutional investor owned 47,341 shares of the company’s stock after buying an additional 3,844 shares during the period. US Bancorp DE’s holdings in Northrop Grumman Corp. were worth $10,128,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of NOC. Quadrant Capital Group LLC increased its stake in Northrop Grumman Corp. by 13.9% in the second quarter. Quadrant Capital Group LLC now owns 501 shares of the company’s stock valued at $106,000 after buying an additional 61 shares in the last quarter. Dubuque Bank & Trust Co. increased its stake in Northrop Grumman Corp. by 446.7% in the second quarter. Dubuque Bank & Trust Co. now owns 492 shares of the company’s stock valued at $109,000 after buying an additional 402 shares in the last quarter. Community Bank N.A. increased its stake in Northrop Grumman Corp. by 4.0% in the third quarter. Community Bank N.A. now owns 520 shares of the company’s stock valued at $111,000 after buying an additional 20 shares in the last quarter. Integrated Wealth Management increased its stake in Northrop Grumman Corp. by 148.3% in the third quarter. Integrated Wealth Management now owns 524 shares of the company’s stock valued at $112,000 after buying an additional 313 shares in the last quarter. Finally, Penserra Capital Management LLC increased its stake in Northrop Grumman Corp. by 140.4% in the third quarter. Penserra Capital Management LLC now owns 541 shares of the company’s stock valued at $115,000 after buying an additional 316 shares in the last quarter. 80.77% of the stock is owned by institutional investors.

Institutional Ownership by Quarter for Northrop Grumman Corp. (NYSE:NOC)

Shares of Northrop Grumman Corp. (NYSE:NOC) traded down 0.220% during midday trading on Wednesday, reaching $251.245. 349,187 shares of the company’s stock traded hands. The stock has a 50 day moving average of $231.40 and a 200-day moving average of $219.89. Northrop Grumman Corp. has a 52-week low of $175.00 and a 52-week high of $253.09. The stock has a market cap of $44.28 billion, a price-to-earnings ratio of 21.441 and a beta of 0.66.

Northrop Grumman Corp. (NYSE:NOC) last released its earnings results on Wednesday, October 26th. The company reported $3.35 earnings per share for the quarter, beating the consensus estimate of $2.81 by $0.54. Northrop Grumman Corp. had a net margin of 8.96% and a return on equity of 34.10%. The business earned $6.20 billion during the quarter, compared to analysts’ expectations of $6.01 billion. During the same period last year, the business earned $2.75 earnings per share. The firm’s revenue was up 2.9% on a year-over-year basis. On average, equities research analysts expect that Northrop Grumman Corp. will post $11.72 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 21st. Investors of record on Monday, December 5th will be paid a $0.90 dividend. The ex-dividend date is Thursday, December 1st. This represents a $3.60 annualized dividend and a dividend yield of 1.43%. Northrop Grumman Corp.’s dividend payout ratio is presently 30.72%.

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Several analysts have commented on NOC shares. Argus reissued a “buy” rating on shares of Northrop Grumman Corp. in a research report on Tuesday, August 2nd. Zacks Investment Research upgraded shares of Northrop Grumman Corp. from a “hold” rating to a “buy” rating and set a $252.00 price objective for the company in a research note on Friday, October 28th. Citigroup Inc. boosted their price objective on shares of Northrop Grumman Corp. from $235.00 to $243.00 and gave the stock a “buy” rating in a research note on Tuesday, September 6th. Jefferies Group restated a “buy” rating and issued a $260.00 price objective (up from $250.00) on shares of Northrop Grumman Corp. in a research note on Friday, October 28th. Finally, Vertical Research started coverage on shares of Northrop Grumman Corp. in a research note on Friday, October 28th. They issued a “hold” rating for the company. Seven research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $236.16.

In other Northrop Grumman Corp. news, VP Denise M. Peppard sold 2,015 shares of the firm’s stock in a transaction on Tuesday, November 1st. The stock was sold at an average price of $229.50, for a total transaction of $462,442.50. Following the completion of the sale, the vice president now owns 37,284 shares of the company’s stock, valued at approximately $8,556,678. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Kenneth L. Bedingfield sold 125 shares of the firm’s stock in a transaction on Thursday, September 1st. The shares were sold at an average price of $212.20, for a total value of $26,525.00. Following the sale, the chief financial officer now directly owns 18,626 shares of the company’s stock, valued at approximately $3,952,437.20. The disclosure for this sale can be found here. 0.90% of the stock is currently owned by corporate insiders.

About Northrop Grumman Corp.

Northrop Grumman Corporation (Northrop Grumman) is a global security company. The Company provides systems, products and solutions in unmanned systems; cyber; command, control, communications and computers (C4), intelligence, surveillance, and reconnaissance (C4ISR); strike aircraft, and logistics and modernization to Government and commercial customers across the world.

5 Day Chart for NYSE:NOC

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