Comerica Bank Acquires 8,806 Shares of Northrop Grumman Co. (NYSE:NOC)

Comerica Bank raised its position in Northrop Grumman Co. (NYSE:NOC) by 22.4% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 48,068 shares of the aerospace company’s stock after acquiring an additional 8,806 shares during the period. Comerica Bank’s holdings in Northrop Grumman were worth $22,558,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Whipplewood Advisors LLC bought a new stake in Northrop Grumman during the 4th quarter worth about $31,000. Albion Financial Group UT acquired a new position in shares of Northrop Grumman in the fourth quarter valued at about $33,000. Bellwether Advisors LLC bought a new position in Northrop Grumman in the 4th quarter valued at about $33,000. Modus Advisors LLC acquired a new position in Northrop Grumman during the fourth quarter worth about $38,000. Finally, Stonebridge Financial Group LLC bought a new stake in shares of Northrop Grumman during the fourth quarter worth about $42,000. Institutional investors own 83.40% of the company’s stock.

Northrop Grumman Price Performance

NYSE NOC opened at $486.28 on Thursday. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.91 and a current ratio of 1.01. The business’s fifty day moving average is $494.29 and its 200 day moving average is $489.31. The company has a market capitalization of $69.99 billion, a PE ratio of 17.16, a price-to-earnings-growth ratio of 3.73 and a beta of 0.20. Northrop Grumman Co. has a fifty-two week low of $418.60 and a fifty-two week high of $555.57.

Northrop Grumman (NYSE:NOC) last released its earnings results on Tuesday, April 22nd. The aerospace company reported $6.06 earnings per share (EPS) for the quarter, missing the consensus estimate of $6.33 by ($0.27). Northrop Grumman had a return on equity of 26.24% and a net margin of 10.17%. The firm had revenue of $9.47 billion during the quarter, compared to analysts’ expectations of $10.07 billion. Sell-side analysts predict that Northrop Grumman Co. will post 28.05 earnings per share for the current year.

Northrop Grumman Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 19th. Investors of record on Monday, March 3rd were issued a $2.06 dividend. This represents a $8.24 annualized dividend and a yield of 1.69%. The ex-dividend date of this dividend was Monday, March 3rd. Northrop Grumman’s dividend payout ratio is currently 32.52%.

Wall Street Analyst Weigh In

Several analysts have recently commented on the stock. Wolfe Research raised shares of Northrop Grumman from an “underperform” rating to a “peer perform” rating in a research report on Monday, February 3rd. Wells Fargo & Company set a $525.00 target price on Northrop Grumman and gave the stock an “overweight” rating in a research report on Thursday, April 24th. Susquehanna decreased their price target on Northrop Grumman from $557.00 to $540.00 and set a “positive” rating on the stock in a research note on Wednesday, April 23rd. Truist Financial cut their target price on shares of Northrop Grumman from $600.00 to $550.00 and set a “buy” rating on the stock in a research note on Wednesday, April 23rd. Finally, Royal Bank of Canada dropped their target price on Northrop Grumman from $575.00 to $550.00 and set an “outperform” rating on the stock in a report on Wednesday, April 23rd. Nine equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Northrop Grumman has an average rating of “Moderate Buy” and a consensus target price of $545.31.

Insiders Place Their Bets

In other Northrop Grumman news, CEO Kathy J. Warden sold 3,750 shares of the stock in a transaction that occurred on Thursday, March 6th. The shares were sold at an average price of $475.65, for a total transaction of $1,783,687.50. Following the completion of the sale, the chief executive officer now directly owns 212,852 shares of the company’s stock, valued at $101,243,053.80. This trade represents a 1.73 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP Benjamin R. Davies sold 464 shares of Northrop Grumman stock in a transaction that occurred on Friday, February 28th. The shares were sold at an average price of $460.75, for a total transaction of $213,788.00. Following the sale, the vice president now owns 245 shares in the company, valued at approximately $112,883.75. The trade was a 65.44 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 4,505 shares of company stock worth $2,127,182. Corporate insiders own 0.23% 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.