Country Trust Bank Has $43.52 Million Stake in Northrop Grumman Co. (NYSE:NOC)

Country Trust Bank lowered its position in Northrop Grumman Co. (NYSE:NOC) by 8.3% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 82,420 shares of the aerospace company’s stock after selling 7,468 shares during the quarter. Country Trust Bank owned 0.06% of Northrop Grumman worth $43,524,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently made changes to their positions in NOC. Optimum Investment Advisors boosted its holdings in shares of Northrop Grumman by 241.2% during the 2nd quarter. Optimum Investment Advisors now owns 58 shares of the aerospace company’s stock worth $25,000 after buying an additional 41 shares in the last quarter. Bank & Trust Co bought a new position in shares of Northrop Grumman during the 2nd quarter worth approximately $28,000. Meeder Asset Management Inc. boosted its holdings in shares of Northrop Grumman by 245.5% during the 2nd quarter. Meeder Asset Management Inc. now owns 76 shares of the aerospace company’s stock worth $33,000 after buying an additional 54 shares in the last quarter. Rise Advisors LLC bought a new position in shares of Northrop Grumman during the 1st quarter worth approximately $38,000. Finally, Riverview Trust Co bought a new position in shares of Northrop Grumman during the 1st quarter worth approximately $47,000. Institutional investors and hedge funds own 83.40% of the company’s stock.

Insiders Place Their Bets

In other Northrop Grumman news, VP Thomas H. Jones sold 1,389 shares of the firm’s stock in a transaction dated 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 transaction, the vice president now owns 6,755 shares in the company, valued at $3,225,917.80. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, VP Thomas H. Jones sold 1,390 shares of the business’s stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $500.00, for a total transaction of $695,000.00. Following the completion of the transaction, the vice president now owns 4,634 shares of the company’s stock, valued at approximately $2,317,000. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Thomas H. Jones sold 1,389 shares of the business’s stock in a transaction dated Friday, July 26th. The stock was sold at an average price of $477.56, for a total value of $663,330.84. Following the transaction, the vice president now directly owns 6,755 shares of the company’s stock, valued at $3,225,917.80. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 2,879 shares of company stock worth $1,410,703 in the last quarter. 0.22% of the stock is owned by company insiders.

Northrop Grumman Stock Down 0.2 %

NOC stock opened at $532.65 on Wednesday. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.99 and a current ratio of 1.11. The company has a market capitalization of $78.83 billion, a price-to-earnings ratio of 37.25, a PEG ratio of 2.44 and a beta of 0.34. Northrop Grumman Co. has a fifty-two week low of $418.60 and a fifty-two week high of $555.57. The stock has a fifty day moving average of $514.57 and a 200-day moving average of $475.32.

Northrop Grumman (NYSE:NOC) last posted its quarterly earnings results on Thursday, July 25th. The aerospace company reported $6.36 earnings per share for the quarter, topping the consensus estimate of $5.93 by $0.43. The company had revenue of $10.22 billion during the quarter, compared to the consensus estimate of $10.02 billion. Northrop Grumman had a return on equity of 25.44% and a net margin of 5.61%. The firm’s quarterly revenue was up 6.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $5.34 EPS. As a group, equities research analysts predict that Northrop Grumman Co. will post 25.14 earnings per share for the current year.

Northrop Grumman Announces Dividend

The business 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. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $8.24 annualized dividend and a yield of 1.55%. Northrop Grumman’s dividend payout ratio is currently 57.62%.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the company. Alembic Global Advisors cut Northrop Grumman from an “overweight” rating to a “neutral” rating and set a $560.00 price target on the stock. in a report on Tuesday, August 27th. Morgan Stanley increased their target price on Northrop Grumman from $579.00 to $592.00 and gave the stock an “overweight” rating in a report on Friday, August 9th. Barclays increased their target price on Northrop Grumman from $470.00 to $500.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 30th. Deutsche Bank Aktiengesellschaft upgraded Northrop Grumman from a “hold” rating to a “buy” rating and increased their target price for the stock from $474.00 to $575.00 in a report on Monday, July 29th. Finally, StockNews.com upgraded Northrop Grumman from a “hold” rating to a “buy” rating in a report on Friday, July 12th. One investment 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, Northrop Grumman has an average rating of “Hold” and an average price target of $523.20.

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.