Pinnacle Financial Partners Inc Boosts Stock Position in Northrop Grumman Co. (NYSE:NOC)

Pinnacle Financial Partners Inc boosted its holdings in shares of Northrop Grumman Co. (NYSE:NOC) by 4.1% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,585 shares of the aerospace company’s stock after purchasing an additional 103 shares during the quarter. Pinnacle Financial Partners Inc’s holdings in Northrop Grumman were worth $1,365,000 as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of NOC. Simmons Bank lifted its stake in shares of Northrop Grumman by 5.5% in the 3rd quarter. Simmons Bank now owns 1,176 shares of the aerospace company’s stock valued at $621,000 after purchasing an additional 61 shares during the last quarter. RMR Capital Management LLC bought a new stake in Northrop Grumman in the third quarter worth $211,000. Aptus Capital Advisors LLC increased its position in Northrop Grumman by 6.5% during the third quarter. Aptus Capital Advisors LLC now owns 1,937 shares of the aerospace company’s stock valued at $1,023,000 after acquiring an additional 118 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. raised its stake in shares of Northrop Grumman by 0.3% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 353,466 shares of the aerospace company’s stock valued at $186,655,000 after acquiring an additional 1,028 shares during the period. Finally, OVERSEA CHINESE BANKING Corp Ltd lifted its holdings in shares of Northrop Grumman by 40.2% in the 3rd quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 1,586 shares of the aerospace company’s stock worth $838,000 after acquiring an additional 455 shares during the last quarter. Institutional investors 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 on Monday, November 11th. The stock was sold at an average price of $532.93, for a total transaction of $616,067.08. Following the completion of the sale, the vice president now owns 537 shares in the company, valued at approximately $286,183.41. This represents a 68.28 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders sold a total of 1,289 shares of company stock worth $685,273 over the last three months. Corporate insiders own 0.22% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on NOC shares. UBS Group increased their price objective on shares of Northrop Grumman from $614.00 to $643.00 and gave the stock a “buy” rating in a research report on Friday, October 25th. Wells Fargo & Company raised their price target on Northrop Grumman from $509.00 to $565.00 and gave the stock an “equal weight” rating in a research note on Friday, October 25th. Citigroup upped their price objective on Northrop Grumman from $521.00 to $587.00 and gave the company a “neutral” rating in a research report on Thursday, October 10th. Barclays boosted their target price on shares of Northrop Grumman from $500.00 to $550.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 29th. Finally, Deutsche Bank Aktiengesellschaft raised shares of Northrop Grumman from a “hold” rating to a “buy” rating and raised their price target for the stock from $474.00 to $575.00 in a research note on Monday, July 29th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating, five have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $550.56.

Northrop Grumman Trading Down 3.9 %

Shares of NYSE:NOC opened at $500.34 on Friday. The company has a market capitalization of $72.90 billion, a PE ratio of 31.00, a P/E/G ratio of 1.07 and a beta of 0.35. The company has a current ratio of 1.09, a quick ratio of 0.97 and a debt-to-equity ratio of 1.00. Northrop Grumman Co. has a 12-month low of $418.60 and a 12-month high of $555.57. The business’s fifty day simple moving average is $524.08 and its 200-day simple moving average is $486.03.

Northrop Grumman (NYSE:NOC) last posted its earnings results on Thursday, October 24th. The aerospace company reported $7.00 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.07 by $0.93. The company had revenue of $10 billion for the quarter, compared to analyst estimates of $10.18 billion. Northrop Grumman had a return on equity of 26.57% and a net margin of 5.79%. The firm’s quarterly revenue was up 2.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $6.18 earnings per share. As a group, equities research analysts predict that Northrop Grumman Co. will post 25.95 earnings per share for the current fiscal year.

Northrop Grumman Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 18th. Investors of record on Tuesday, September 3rd were given a dividend of $2.06 per share. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $8.24 dividend on an annualized basis and a yield of 1.65%. Northrop Grumman’s payout ratio is 51.05%.

Northrop Grumman Company 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.