Northrop Grumman Co. (NYSE:NOC) Shares Acquired by Citizens Financial Group Inc. RI

Citizens Financial Group Inc. RI increased its stake in shares of Northrop Grumman Co. (NYSE:NOC) by 4.6% during the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 2,343 shares of the aerospace company’s stock after acquiring an additional 102 shares during the period. Citizens Financial Group Inc. RI’s holdings in Northrop Grumman were worth $1,097,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. London Co. of Virginia acquired a new position in Northrop Grumman during the 3rd quarter worth approximately $165,786,000. Invesco Ltd. lifted its position in Northrop Grumman by 74.7% during the 3rd quarter. Invesco Ltd. now owns 1,174,556 shares of the aerospace company’s stock worth $517,028,000 after acquiring an additional 502,060 shares in the last quarter. Raymond James Trust N.A. lifted its position in Northrop Grumman by 19.7% during the 4th quarter. Raymond James Trust N.A. now owns 16,515 shares of the aerospace company’s stock worth $7,731,000 after acquiring an additional 2,723 shares in the last quarter. Phraction Management LLC acquired a new position in Northrop Grumman during the 3rd quarter worth approximately $677,000. Finally, Cerity Partners LLC lifted its position in Northrop Grumman by 2,801.7% during the 4th quarter. Cerity Partners LLC now owns 330,499 shares of the aerospace company’s stock worth $154,720,000 after acquiring an additional 319,109 shares in the last quarter. 83.40% of the stock is owned by institutional investors and hedge funds.

Northrop Grumman Price Performance

Shares of NYSE NOC opened at $480.45 on Friday. Northrop Grumman Co. has a twelve month low of $414.56 and a twelve month high of $496.89. The company has a current ratio of 1.13, a quick ratio of 1.05 and a debt-to-equity ratio of 1.04. The company has a market capitalization of $71.20 billion, a price-to-earnings ratio of 33.60, a price-to-earnings-growth ratio of 1.93 and a beta of 0.35. The business has a 50 day simple moving average of $462.59 and a 200-day simple moving average of $465.77.

Northrop Grumman (NYSE:NOC) last issued its quarterly earnings results on Thursday, April 25th. The aerospace company reported $6.32 earnings per share for the quarter, beating analysts’ consensus estimates of $5.83 by $0.49. Northrop Grumman had a return on equity of 24.09% and a net margin of 5.38%. The business had revenue of $10.13 billion during the quarter, compared to the consensus estimate of $9.77 billion. During the same period in the previous year, the business earned $5.50 EPS. The business’s quarterly revenue was up 8.9% on a year-over-year basis. As a group, equities research analysts expect that Northrop Grumman Co. will post 24.7 earnings per share for the current year.

Northrop Grumman Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 13th. Investors of record on Monday, February 26th were paid a dividend of $1.87 per share. The ex-dividend date was Friday, February 23rd. This represents a $7.48 dividend on an annualized basis and a yield of 1.56%. Northrop Grumman’s payout ratio is currently 52.31%.

Insider Buying and Selling

In related news, CAO Michael A. Hardesty sold 955 shares of the company’s stock in a transaction on Friday, February 16th. The stock was sold at an average price of $450.37, for a total transaction of $430,103.35. Following the completion of the transaction, the chief accounting officer now directly owns 4,137 shares in the company, valued at approximately $1,863,180.69. The sale was disclosed in a document filed with the SEC, which is available through this link. In related news, CAO Michael A. Hardesty sold 955 shares of the company’s stock in a transaction on Friday, February 16th. The stock was sold at an average price of $450.37, for a total transaction of $430,103.35. Following the completion of the transaction, the chief accounting officer now directly owns 4,137 shares in the company, valued at approximately $1,863,180.69. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CAO Michael A. Hardesty sold 210 shares of the company’s stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $454.68, for a total value of $95,482.80. Following the transaction, the chief accounting officer now owns 3,127 shares of the company’s stock, valued at $1,421,784.36. The disclosure for this sale can be found here. Insiders sold a total of 3,149 shares of company stock worth $1,421,147 in the last three months. 0.22% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several equities analysts recently commented on NOC shares. Robert W. Baird boosted their price target on Northrop Grumman from $475.00 to $505.00 and gave the stock a “neutral” rating in a research report on Friday. Susquehanna upped their target price on Northrop Grumman from $540.00 to $560.00 and gave the company a “positive” rating in a research report on Friday. Royal Bank of Canada upped their target price on Northrop Grumman from $450.00 to $475.00 and gave the company a “sector perform” rating in a research report on Friday. StockNews.com raised Northrop Grumman from a “hold” rating to a “buy” rating in a research report on Friday. Finally, Alembic Global Advisors raised Northrop Grumman from a “neutral” rating to an “overweight” rating and set a $532.00 target price on the stock in a research report on Monday, April 22nd. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $503.00.

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.