Stock Yards Bank & Trust Co. Trims Stock Holdings in Northrop Grumman Co. (NYSE:NOC)

Stock Yards Bank & Trust Co. lessened its position in shares of Northrop Grumman Co. (NYSE:NOC) by 12.8% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 683 shares of the aerospace company’s stock after selling 100 shares during the quarter. Stock Yards Bank & Trust Co.’s holdings in Northrop Grumman were worth $298,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the company. Optimum Investment Advisors boosted its position in Northrop Grumman by 241.2% in the second quarter. Optimum Investment Advisors now owns 58 shares of the aerospace company’s stock valued at $25,000 after buying an additional 41 shares during the last quarter. Bank & Trust Co purchased a new stake in shares of Northrop Grumman in the 2nd quarter valued at $28,000. Frazier Financial Advisors LLC purchased a new stake in shares of Northrop Grumman in the 4th quarter valued at $29,000. Meeder Asset Management Inc. increased its stake in shares of Northrop Grumman by 245.5% in the second quarter. Meeder Asset Management Inc. now owns 76 shares of the aerospace company’s stock worth $33,000 after acquiring an additional 54 shares during the period. Finally, Rise Advisors LLC purchased a new position in shares of Northrop Grumman during the first quarter worth $38,000. 83.40% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Northrop Grumman

In related news, VP Thomas H. Jones sold 1,389 shares of the stock in a transaction that occurred on Friday, July 26th. The stock was sold at an average price of $477.56, for a total value of $663,330.84. Following the completion of the sale, the vice president now owns 6,755 shares of the company’s stock, valued at $3,225,917.80. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Northrop Grumman news, VP Thomas H. Jones sold 1,389 shares of the business’s stock in a transaction on Friday, July 26th. The stock was sold at an average price of $477.56, for a total transaction of $663,330.84. Following the transaction, the vice president now owns 6,755 shares of the company’s stock, valued at $3,225,917.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, 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 value of $695,000.00. Following the completion of the sale, the vice president now directly owns 4,634 shares of the company’s stock, valued at $2,317,000. The disclosure for this sale can be found here. Insiders have sold a total of 2,846 shares of company stock worth $1,393,028 in the last ninety days. Insiders own 0.22% of the company’s stock.

Northrop Grumman Stock Performance

Shares of NYSE:NOC opened at $521.63 on Thursday. The company has a debt-to-equity ratio of 1.03, a current ratio of 1.11 and a quick ratio of 0.99. Northrop Grumman Co. has a 1 year low of $414.56 and a 1 year high of $528.76. The firm has a market capitalization of $77.20 billion, a PE ratio of 36.48, a P/E/G ratio of 2.36 and a beta of 0.34. The business’s 50 day moving average price is $492.39 and its 200-day moving average price is $468.88.

Northrop Grumman (NYSE:NOC) last announced its earnings results on Thursday, July 25th. The aerospace company reported $6.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.93 by $0.43. The company had revenue of $10.22 billion for the quarter, compared to analysts’ expectations of $10.02 billion. Northrop Grumman had a net margin of 5.61% and a return on equity of 25.44%. The firm’s quarterly revenue was up 6.7% on a year-over-year basis. During the same quarter in the previous year, the company posted $5.34 EPS. As a group, equities research analysts expect that Northrop Grumman Co. will post 25.14 earnings per share for the current fiscal 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 paid a $2.06 dividend. This represents a $8.24 dividend on an annualized basis and a yield of 1.58%. The ex-dividend date of this dividend was Tuesday, September 3rd. Northrop Grumman’s dividend payout ratio (DPR) is 57.62%.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. Jefferies Financial Group lowered their price target on shares of Northrop Grumman from $530.00 to $500.00 and set a “hold” rating on the stock in a report on Tuesday, June 18th. Wells Fargo & Company lifted their price target on Northrop Grumman from $467.00 to $509.00 and gave the company an “equal weight” rating in a research report on Friday, July 26th. StockNews.com upgraded Northrop Grumman from a “hold” rating to a “buy” rating in a research report on Friday, July 12th. Barclays lifted their target price on shares of Northrop Grumman from $470.00 to $500.00 and gave the company an “equal weight” rating in a report on Tuesday, July 30th. Finally, Royal Bank of Canada increased their price target on shares of Northrop Grumman from $475.00 to $500.00 and gave the stock a “sector perform” rating in a report on Friday, July 26th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $523.20.

About Northrop Grumman

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.