Sanibel Captiva Trust Company Inc. Has $4.01 Million Position in Northrop Grumman Co. (NYSE:NOC)

Sanibel Captiva Trust Company Inc. increased its position in shares of Northrop Grumman Co. (NYSE:NOC) by 1.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,546 shares of the aerospace company’s stock after acquiring an additional 106 shares during the period. Sanibel Captiva Trust Company Inc.’s holdings in Northrop Grumman were worth $4,011,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of the company. Ascent Group LLC lifted its stake in shares of Northrop Grumman by 0.5% in the 2nd quarter. Ascent Group LLC now owns 4,337 shares of the aerospace company’s stock valued at $1,891,000 after purchasing an additional 20 shares during the period. Cornell Pochily Investment Advisors Inc. raised its holdings in shares of Northrop Grumman by 0.9% during the third quarter. Cornell Pochily Investment Advisors Inc. now owns 2,141 shares of the aerospace company’s stock worth $1,131,000 after acquiring an additional 20 shares during the period. Asset Dedication LLC lifted its holdings in shares of Northrop Grumman by 1.0% in the third quarter. Asset Dedication LLC now owns 2,025 shares of the aerospace company’s stock valued at $1,069,000 after purchasing an additional 20 shares in the last quarter. Foundations Investment Advisors LLC raised its holdings in shares of Northrop Grumman by 1.4% in the third quarter. Foundations Investment Advisors LLC now owns 1,478 shares of the aerospace company’s stock valued at $780,000 after purchasing an additional 20 shares during the last quarter. Finally, PBMares Wealth Management LLC raised its stake in shares of Northrop Grumman by 0.5% during the 3rd quarter. PBMares Wealth Management LLC now owns 4,421 shares of the aerospace company’s stock worth $2,335,000 after purchasing an additional 20 shares in the last quarter. Institutional investors and hedge funds own 83.40% of the company’s stock.

Insider Buying and Selling at Northrop Grumman

In other news, VP Benjamin R. Davies sold 1,156 shares of the stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $532.93, for a total value of $616,067.08. Following the completion of the transaction, the vice president now owns 537 shares of the company’s stock, valued at approximately $286,183.41. This represents a 68.28 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In the last quarter, insiders have sold 1,255 shares of company stock valued at $663,859. 0.22% of the stock is currently owned by corporate insiders.

Northrop Grumman Stock Performance

NOC opened at $482.49 on Friday. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.97 and a current ratio of 1.09. Northrop Grumman Co. has a 52-week low of $418.60 and a 52-week high of $555.57. The firm has a market cap of $70.30 billion, a P/E ratio of 29.89, a price-to-earnings-growth ratio of 0.87 and a beta of 0.35. The business’s fifty day moving average is $481.48 and its 200-day moving average is $493.38.

Northrop Grumman (NYSE:NOC) last announced its quarterly earnings data on Thursday, October 24th. The aerospace company reported $7.00 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $6.07 by $0.93. Northrop Grumman had a net margin of 5.79% and a return on equity of 26.57%. The firm had revenue of $10 billion for the quarter, compared to the consensus estimate of $10.18 billion. During the same period in the prior year, the company posted $6.18 earnings per share. The business’s revenue for the quarter was up 2.3% on a year-over-year basis. Sell-side analysts expect that Northrop Grumman Co. will post 25.93 EPS for the current fiscal year.

Northrop Grumman declared that its Board of Directors has approved a stock buyback plan on Wednesday, December 11th that authorizes the company to repurchase $3.00 billion in shares. This repurchase authorization authorizes the aerospace company to buy up to 4.3% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s board of directors believes its shares are undervalued.

Northrop Grumman Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, December 18th. Shareholders of record on Monday, December 2nd were paid a dividend of $2.06 per share. This represents a $8.24 annualized dividend and a yield of 1.71%. The ex-dividend date was Monday, December 2nd. Northrop Grumman’s payout ratio is presently 51.05%.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on NOC shares. UBS Group boosted their target price on shares of Northrop Grumman from $614.00 to $643.00 and gave the stock a “buy” rating in a report on Friday, October 25th. Barclays lowered their price objective on shares of Northrop Grumman from $550.00 to $500.00 and set an “equal weight” rating on the stock in a research note on Monday, January 6th. Royal Bank of Canada raised their target price on shares of Northrop Grumman from $500.00 to $540.00 and gave the company a “sector perform” rating in a research note on Friday, October 25th. JPMorgan Chase & Co. lifted their target price on Northrop Grumman from $500.00 to $560.00 and gave the stock a “neutral” rating in a research note on Monday, October 14th. Finally, Truist Financial initiated coverage on shares of Northrop Grumman in a report on Tuesday. They issued a “buy” rating and a $544.00 price objective on the stock. Nine investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $550.94.

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.