Eastern Bank Has $567,000 Stock Holdings in Northrop Grumman Co. (NYSE:NOC)

Eastern Bank raised its position in Northrop Grumman Co. (NYSE:NOC) by 3.9% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,074 shares of the aerospace company’s stock after acquiring an additional 40 shares during the period. Eastern Bank’s holdings in Northrop Grumman were worth $567,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of NOC. Diversify Advisory Services LLC acquired a new stake in Northrop Grumman during the first quarter worth $870,000. Norden Group LLC bought a new stake in Northrop Grumman in the first quarter valued at about $778,000. Aviso Wealth Management increased its stake in Northrop Grumman by 110.7% in the second quarter. Aviso Wealth Management now owns 1,896 shares of the aerospace company’s stock valued at $827,000 after acquiring an additional 996 shares during the period. Susquehanna International Securities Ltd. acquired a new position in Northrop Grumman in the second quarter worth about $1,133,000. Finally, State Board of Administration of Florida Retirement System boosted its holdings in Northrop Grumman by 9.8% during the first quarter. State Board of Administration of Florida Retirement System now owns 160,328 shares of the aerospace company’s stock valued at $74,027,000 after purchasing an additional 14,275 shares in the last quarter. Institutional investors own 83.40% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on NOC shares. JPMorgan Chase & Co. increased their target price on Northrop Grumman from $500.00 to $560.00 and gave the stock a “neutral” rating in a report on Monday, October 14th. Wells Fargo & Company lifted their price objective on Northrop Grumman from $467.00 to $509.00 and gave the company an “equal weight” rating in a report on Friday, July 26th. UBS Group upped their target price on shares of Northrop Grumman from $593.00 to $605.00 and gave the stock a “buy” rating in a report on Friday, July 26th. Barclays increased their target price on shares of Northrop Grumman from $470.00 to $500.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 30th. Finally, TD Cowen raised shares of Northrop Grumman to a “hold” rating in a research note on Tuesday, October 8th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, Northrop Grumman presently has a consensus rating of “Hold” and an average price target of $535.00.

Insider Buying and Selling

In other Northrop Grumman news, VP Thomas H. Jones sold 1,390 shares of the firm’s stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $500.00, for a total value of $695,000.00. Following the transaction, the vice president now directly owns 4,634 shares of the company’s stock, valued at approximately $2,317,000. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Northrop Grumman news, VP Thomas H. Jones sold 1,390 shares of the stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $500.00, for a total value of $695,000.00. Following the transaction, the vice president now owns 4,634 shares of the company’s stock, valued at approximately $2,317,000. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, 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 transaction, the vice president now owns 6,755 shares in the company, valued at approximately $3,225,917.80. This trade represents 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 valued at $1,410,703 over the last ninety days. Insiders own 0.22% of the company’s stock.

Northrop Grumman Stock Down 0.7 %

Shares of NOC opened at $516.40 on Thursday. The business’s fifty day moving average price is $522.88 and its two-hundred day moving average price is $480.30. The firm has a market capitalization of $76.42 billion, a price-to-earnings ratio of 36.11, a PEG ratio of 2.44 and a beta of 0.34. Northrop Grumman Co. has a 52 week low of $418.60 and a 52 week high of $555.57. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.99 and a current ratio of 1.11.

Northrop Grumman (NYSE:NOC) last posted its quarterly earnings results on Thursday, July 25th. The aerospace company reported $6.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.93 by $0.43. The business had revenue of $10.22 billion for the quarter, compared to analysts’ expectations 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 last year, the business earned $5.34 earnings per share. On average, analysts predict that Northrop Grumman Co. will post 25.16 earnings per share for the current year.

Northrop Grumman Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 18th. Stockholders of record on Tuesday, September 3rd were given a dividend of $2.06 per share. This represents a $8.24 annualized dividend and a dividend yield of 1.60%. The ex-dividend date of this dividend was Tuesday, September 3rd. Northrop Grumman’s dividend payout ratio is 57.62%.

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.