M&T Bank Corp Buys 77 Shares of Northrop Grumman Co. (NYSE:NOC)

M&T Bank Corp raised its stake in Northrop Grumman Co. (NYSE:NOC) by 0.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 21,535 shares of the aerospace company’s stock after acquiring an additional 77 shares during the quarter. M&T Bank Corp’s holdings in Northrop Grumman were worth $10,081,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the stock. London Co. of Virginia acquired a new position in Northrop Grumman in the 3rd quarter valued at $165,786,000. Invesco Ltd. raised its holdings in shares of Northrop Grumman by 74.7% during the 3rd quarter. Invesco Ltd. now owns 1,174,556 shares of the aerospace company’s stock worth $517,028,000 after buying an additional 502,060 shares in the last quarter. Raymond James Trust N.A. increased its holdings in Northrop Grumman by 19.7% in the 4th quarter. Raymond James Trust N.A. now owns 16,515 shares of the aerospace company’s stock worth $7,731,000 after purchasing an additional 2,723 shares in the last quarter. Phraction Management LLC acquired a new position in Northrop Grumman in the 3rd quarter worth about $677,000. Finally, Cerity Partners LLC increased its holdings in Northrop Grumman by 2,801.7% in the 4th quarter. Cerity Partners LLC now owns 330,499 shares of the aerospace company’s stock worth $154,720,000 after purchasing an additional 319,109 shares in the last quarter. 83.40% of the stock is currently owned by institutional investors and hedge funds.

Northrop Grumman Stock Down 1.2 %

NOC stock opened at $469.09 on Monday. The stock’s 50 day simple moving average is $464.96 and its 200 day simple moving average is $465.47. Northrop Grumman Co. has a fifty-two week low of $414.56 and a fifty-two week high of $496.89. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.02 and a current ratio of 1.13. The company has a market cap of $69.42 billion, a P/E ratio of 32.80, a price-to-earnings-growth ratio of 1.93 and a beta of 0.34.

Northrop Grumman (NYSE:NOC) last posted its quarterly earnings results on Thursday, April 25th. The aerospace company reported $6.32 earnings per share for the quarter, topping analysts’ consensus estimates of $5.83 by $0.49. Northrop Grumman had a return on equity of 24.09% and a net margin of 5.38%. The business had revenue of $10.13 billion for the quarter, compared to the consensus estimate of $9.77 billion. During the same period in the prior year, the business earned $5.50 EPS. The firm’s revenue for the quarter was up 8.9% on a year-over-year basis. On average, research analysts expect that Northrop Grumman Co. will post 24.7 earnings per share for the current fiscal year.

Northrop Grumman Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 13th. Stockholders of record on Monday, February 26th were paid a $1.87 dividend. This represents a $7.48 annualized dividend and a dividend yield of 1.59%. The ex-dividend date of this dividend was Friday, February 23rd. Northrop Grumman’s dividend payout ratio (DPR) is presently 52.31%.

Insider Transactions at Northrop Grumman

In related news, CAO Michael A. Hardesty sold 210 shares of the stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $454.68, for a total transaction of $95,482.80. Following the completion of the sale, the chief accounting officer now directly owns 3,127 shares of the company’s stock, valued at $1,421,784.36. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, VP Kathryn G. Simpson sold 1,273 shares of the firm’s stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $450.37, for a total transaction of $573,321.01. Following the completion of the sale, the vice president now owns 2,735 shares in the company, valued at $1,231,761.95. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Michael A. Hardesty sold 210 shares of the firm’s stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $454.68, for a total transaction of $95,482.80. Following the sale, the chief accounting officer now owns 3,127 shares of the company’s stock, valued at approximately $1,421,784.36. The disclosure for this sale can be found here. Insiders sold a total of 3,149 shares of company stock valued at $1,421,147 over the last ninety days. 0.22% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

NOC has been the subject of a number of recent research reports. Royal Bank of Canada upped their target price on Northrop Grumman from $450.00 to $475.00 and gave the stock a “sector perform” rating in a report on Friday, April 26th. TheStreet cut Northrop Grumman from a “b+” rating to a “c+” rating in a report on Thursday, January 25th. Robert W. Baird upped their target price on Northrop Grumman from $475.00 to $505.00 and gave the stock a “neutral” rating in a report on Friday, April 26th. Susquehanna upped their price target on Northrop Grumman from $540.00 to $560.00 and gave the company a “positive” rating in a research report on Friday, April 26th. Finally, Wells Fargo & Company upped their price target on Northrop Grumman from $483.00 to $518.00 and gave the company an “equal weight” rating in a research report on Tuesday, April 30th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and five have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $509.38.

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.