Zions Bancorporation N.A. Cuts Stake in Northrop Grumman Co. (NYSE:NOC)

Zions Bancorporation N.A. decreased its stake in Northrop Grumman Co. (NYSE:NOC) by 59.1% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 734 shares of the aerospace company’s stock after selling 1,059 shares during the period. Zions Bancorporation N.A.’s holdings in Northrop Grumman were worth $320,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. International Assets Investment Management LLC bought a new position in Northrop Grumman during the fourth quarter valued at $605,000. Accretive Wealth Partners LLC raised its stake in Northrop Grumman by 10.5% in the 4th quarter. Accretive Wealth Partners LLC now owns 528 shares of the aerospace company’s stock valued at $247,000 after acquiring an additional 50 shares during the period. Gryphon Financial Partners LLC lifted its holdings in Northrop Grumman by 21.9% during the fourth quarter. Gryphon Financial Partners LLC now owns 557 shares of the aerospace company’s stock valued at $241,000 after purchasing an additional 100 shares during the last quarter. Jump Financial LLC boosted its position in Northrop Grumman by 37.7% during the fourth quarter. Jump Financial LLC now owns 694 shares of the aerospace company’s stock worth $325,000 after purchasing an additional 190 shares during the period. Finally, Foundations Investment Advisors LLC increased its stake in shares of Northrop Grumman by 4.9% in the fourth quarter. Foundations Investment Advisors LLC now owns 1,490 shares of the aerospace company’s stock worth $665,000 after purchasing an additional 70 shares in the last quarter. 83.40% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the stock. Alembic Global Advisors cut shares of Northrop Grumman from an “overweight” rating to a “neutral” rating and set a $560.00 price target on the stock. in a research note on Tuesday, August 27th. TD Cowen raised their price target on Northrop Grumman from $440.00 to $515.00 and gave the stock a “hold” rating in a report on Monday, July 29th. StockNews.com upgraded Northrop Grumman from a “hold” rating to a “buy” rating in a research note on Friday, July 12th. Royal Bank of Canada raised their target price on Northrop Grumman from $475.00 to $500.00 and gave the stock a “sector perform” rating in a research note on Friday, July 26th. Finally, Barclays upped their price target on Northrop Grumman from $470.00 to $500.00 and gave the company an “equal weight” rating in a research report on Tuesday, July 30th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $523.20.

Northrop Grumman Stock Up 0.2 %

NOC opened at $519.78 on Friday. The company has a quick ratio of 0.99, a current ratio of 1.11 and a debt-to-equity ratio of 1.03. The business’s fifty day simple moving average is $486.71 and its 200 day simple moving average is $467.55. Northrop Grumman Co. has a 52 week low of $414.56 and a 52 week high of $528.76. The stock has a market cap of $76.01 billion, a PE ratio of 36.35, a P/E/G ratio of 2.36 and a beta of 0.34.

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

Northrop Grumman Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 18th. Stockholders of record on Tuesday, September 3rd will be paid a dividend of $2.06 per share. This represents a $8.24 dividend on an annualized basis and a dividend yield of 1.59%. The ex-dividend date is Tuesday, September 3rd. Northrop Grumman’s dividend payout ratio (DPR) is presently 57.62%.

Insider Transactions at Northrop Grumman

In other Northrop Grumman news, VP Thomas H. Jones sold 1,389 shares of the firm’s stock in a transaction on Friday, July 26th. The shares were sold at an average price of $477.56, for a total value of $663,330.84. Following the sale, the vice president now owns 6,755 shares of the company’s stock, valued at approximately $3,225,917.80. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, 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 transaction of $663,330.84. Following the transaction, the vice president now owns 6,755 shares in the company, valued at approximately $3,225,917.80. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, VP Thomas H. Jones sold 1,390 shares of the stock in a transaction that occurred 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 owns 4,634 shares of the company’s stock, valued at approximately $2,317,000. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 2,846 shares of company stock worth $1,393,028. Insiders own 0.22% of the company’s stock.

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.