Glenview Trust co Buys 359 Shares of Northrop Grumman Co. (NYSE:NOC)

Glenview Trust co increased its stake in Northrop Grumman Co. (NYSE:NOC) by 23.8% in the fourth quarter, Holdings Channel reports. The institutional investor owned 1,866 shares of the aerospace company’s stock after acquiring an additional 359 shares during the period. Glenview Trust co’s holdings in Northrop Grumman were worth $876,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of NOC. Meeder Advisory Services Inc. lifted its position in shares of Northrop Grumman by 0.9% during the third quarter. Meeder Advisory Services Inc. now owns 2,288 shares of the aerospace company’s stock worth $1,208,000 after purchasing an additional 20 shares during the last quarter. Thompson Siegel & Walmsley LLC lifted its position in shares of Northrop Grumman by 0.3% during the third quarter. Thompson Siegel & Walmsley LLC now owns 8,320 shares of the aerospace company’s stock worth $4,394,000 after purchasing an additional 21 shares during the last quarter. Sapient Capital LLC lifted its position in shares of Northrop Grumman by 1.1% during the fourth quarter. Sapient Capital LLC now owns 2,049 shares of the aerospace company’s stock worth $962,000 after purchasing an additional 22 shares during the last quarter. Bank Pictet & Cie Europe AG lifted its position in shares of Northrop Grumman by 2.2% during the fourth quarter. Bank Pictet & Cie Europe AG now owns 1,006 shares of the aerospace company’s stock worth $472,000 after purchasing an additional 22 shares during the last quarter. Finally, Mather Group LLC. lifted its position in shares of Northrop Grumman by 2.6% during the fourth quarter. Mather Group LLC. now owns 900 shares of the aerospace company’s stock worth $422,000 after purchasing an additional 23 shares during the last quarter. 83.40% of the stock is currently owned by institutional investors.

Northrop Grumman Price Performance

NOC opened at $490.88 on Tuesday. The business’s 50-day moving average is $472.66 and its two-hundred day moving average is $494.03. Northrop Grumman Co. has a 1 year low of $418.60 and a 1 year high of $555.57. The company has a debt-to-equity ratio of 0.96, a current ratio of 1.01 and a quick ratio of 0.91. The firm has a market capitalization of $71.06 billion, a PE ratio of 17.32, a price-to-earnings-growth ratio of 3.73 and a beta of 0.31.

Northrop Grumman (NYSE:NOC) last posted its earnings results on Thursday, January 30th. The aerospace company reported $6.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.27 by $0.12. Northrop Grumman had a return on equity of 26.24% and a net margin of 10.17%. Research analysts anticipate that Northrop Grumman Co. will post 28.05 earnings per share for the current fiscal year.

Northrop Grumman announced that its board has approved a share buyback program on Wednesday, December 11th that permits the company to buyback $3.00 billion in shares. This buyback authorization permits the aerospace company to buy up to 4.3% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s leadership believes its stock is undervalued.

Northrop Grumman Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, March 19th. Stockholders of record on Monday, March 3rd will be paid a dividend of $2.06 per share. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $8.24 dividend on an annualized basis and a dividend yield of 1.68%. Northrop Grumman’s payout ratio is 29.08%.

Insider Transactions at Northrop Grumman

In other news, CEO Kathy J. Warden sold 3,750 shares of the business’s stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $475.65, for a total transaction of $1,783,687.50. Following the sale, the chief executive officer now owns 212,852 shares in the company, valued at approximately $101,243,053.80. The trade was a 1.73 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Benjamin R. Davies sold 464 shares of the business’s stock in a transaction dated Friday, February 28th. The stock was sold at an average price of $460.75, for a total value of $213,788.00. Following the sale, the vice president now owns 245 shares in the company, valued at $112,883.75. The trade was a 65.44 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 4,505 shares of company stock worth $2,126,405. Insiders own 0.22% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on NOC shares. Citigroup lifted their target price on Northrop Grumman from $587.00 to $591.00 and gave the stock a “buy” rating in a research report on Monday, February 10th. Susquehanna decreased their target price on Northrop Grumman from $625.00 to $557.00 and set a “positive” rating for the company in a research report on Wednesday, January 8th. UBS Group cut their price target on Northrop Grumman from $579.00 to $558.00 and set a “buy” rating on the stock in a research note on Friday, January 31st. Wolfe Research upgraded Northrop Grumman from an “underperform” rating to a “peer perform” rating in a research note on Monday, February 3rd. Finally, StockNews.com lowered Northrop Grumman from a “strong-buy” rating to a “buy” rating in a research note on Monday, February 3rd. Nine research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Northrop Grumman presently has an average rating of “Moderate Buy” and a consensus price target of $542.88.

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.