Truist Financial Corp Sells 1,284 Shares of Northrop Grumman Co. (NYSE:NOC)

Truist Financial Corp trimmed its position in shares of Northrop Grumman Co. (NYSE:NOC) by 2.7% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 45,583 shares of the aerospace company’s stock after selling 1,284 shares during the period. Truist Financial Corp’s holdings in Northrop Grumman were worth $19,872,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Gulf International Bank UK Ltd increased its stake in Northrop Grumman by 1,402.9% in the first quarter. Gulf International Bank UK Ltd now owns 12,925 shares of the aerospace company’s stock valued at $6,186,000 after acquiring an additional 12,065 shares during the last quarter. Diversify Advisory Services LLC acquired a new position in shares of Northrop Grumman during the 1st quarter worth $870,000. Norden Group LLC acquired a new position in shares of Northrop Grumman during the 1st quarter worth $778,000. Aviso Wealth Management boosted 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 buying an additional 996 shares in the last quarter. Finally, Susquehanna International Securities Ltd. bought a new position in Northrop Grumman in the second quarter valued at about $1,133,000. 83.40% of the stock is owned by institutional investors.

Northrop Grumman Stock Down 0.3 %

Shares of NYSE NOC opened at $537.43 on Friday. The company’s 50 day moving average price is $512.31 and its 200-day moving average price is $474.26. 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 Co. has a 52-week low of $414.56 and a 52-week high of $555.57. The company has a market capitalization of $79.53 billion, a P/E ratio of 37.58, a price-to-earnings-growth ratio of 2.44 and a beta of 0.34.

Northrop Grumman (NYSE:NOC) last released its 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. Northrop Grumman had a net margin of 5.61% and a return on equity of 25.44%. The business had revenue of $10.22 billion for the quarter, compared to analyst estimates of $10.02 billion. During the same quarter in the previous year, the business earned $5.34 earnings per share. Northrop Grumman’s revenue for the quarter was up 6.7% on a year-over-year basis. Equities analysts forecast that Northrop Grumman Co. will post 25.14 earnings per share for the current year.

Northrop Grumman Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 18th. Investors of record on Tuesday, September 3rd were paid a dividend of $2.06 per share. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $8.24 annualized dividend and a yield of 1.53%. Northrop Grumman’s dividend payout ratio is currently 57.62%.

Insiders Place Their Bets

In other Northrop Grumman 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 transaction of $663,330.84. Following the transaction, the vice president now directly owns 6,755 shares in the company, valued at approximately $3,225,917.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, VP Thomas H. Jones sold 1,389 shares of the business’s stock in a transaction on Friday, July 26th. The shares were 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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 transaction 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 $2,317,000. The disclosure for this sale can be found here. Over the last three months, insiders sold 2,846 shares of company stock worth $1,393,028. 0.22% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the stock. UBS Group increased 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. Alembic Global Advisors lowered shares of Northrop Grumman from an “overweight” rating to a “neutral” rating and set a $560.00 target price on the stock. in a research report on Tuesday, August 27th. Deutsche Bank Aktiengesellschaft upgraded shares of Northrop Grumman from a “hold” rating to a “buy” rating and upped their price target for the stock from $474.00 to $575.00 in a report on Monday, July 29th. Wells Fargo & Company raised 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. Finally, BTIG Research initiated coverage on Northrop Grumman in a report on Wednesday, June 26th. They issued a “buy” rating and a $565.00 target price for the company. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average 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.