Symphony Financial Ltd. Co. Sells 1,826 Shares of Northrop Grumman Corporation $NOC

Symphony Financial Ltd. Co. decreased its position in Northrop Grumman Corporation (NYSE:NOC) by 76.0% in the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 577 shares of the aerospace company’s stock after selling 1,826 shares during the period. Symphony Financial Ltd. Co.’s holdings in Northrop Grumman were worth $348,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of NOC. First United Bank & Trust lifted its position in shares of Northrop Grumman by 641.0% in the 2nd quarter. First United Bank & Trust now owns 778 shares of the aerospace company’s stock worth $389,000 after purchasing an additional 673 shares during the period. Mitchell Mcleod Pugh & Williams Inc. raised its stake in Northrop Grumman by 29.4% in the second quarter. Mitchell Mcleod Pugh & Williams Inc. now owns 1,848 shares of the aerospace company’s stock worth $924,000 after buying an additional 420 shares in the last quarter. Focused Investors LLC lifted its holdings in Northrop Grumman by 4.1% during the third quarter. Focused Investors LLC now owns 211,800 shares of the aerospace company’s stock worth $129,054,000 after buying an additional 8,300 shares during the period. Merit Financial Group LLC boosted its position in Northrop Grumman by 74.5% during the 3rd quarter. Merit Financial Group LLC now owns 11,060 shares of the aerospace company’s stock valued at $6,739,000 after acquiring an additional 4,721 shares in the last quarter. Finally, Oak Thistle LLC purchased a new position in shares of Northrop Grumman in the 3rd quarter valued at $1,015,000. 83.40% of the stock is currently owned by hedge funds and other institutional investors.

Northrop Grumman Price Performance

Shares of NOC stock opened at $672.67 on Friday. Northrop Grumman Corporation has a fifty-two week low of $426.24 and a fifty-two week high of $677.30. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.98 and a current ratio of 1.11. The firm has a market capitalization of $96.00 billion, a price-to-earnings ratio of 24.20, a PEG ratio of 5.46 and a beta of 0.05. The stock’s 50-day simple moving average is $587.92 and its 200-day simple moving average is $583.04.

Northrop Grumman Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, December 17th. Shareholders of record on Monday, December 1st were given a dividend of $2.31 per share. This represents a $9.24 annualized dividend and a yield of 1.4%. The ex-dividend date of this dividend was Monday, December 1st. Northrop Grumman’s payout ratio is currently 33.24%.

Insider Buying and Selling

In related news, CEO Kathy J. Warden sold 7,000 shares of the company’s stock in a transaction on Monday, January 5th. The stock was sold at an average price of $600.00, for a total value of $4,200,000.00. Following the transaction, the chief executive officer directly owned 194,602 shares of the company’s stock, valued at $116,761,200. This represents a 3.47% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Mark A. Welsh III sold 97 shares of Northrop Grumman stock in a transaction dated Monday, November 24th. The stock was sold at an average price of $564.08, for a total value of $54,715.76. Following the sale, the director directly owned 4,281 shares of the company’s stock, valued at approximately $2,414,826.48. This represents a 2.22% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 10,097 shares of company stock worth $6,099,716 in the last 90 days. 0.23% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on NOC shares. Morgan Stanley restated an “overweight” rating and set a $714.00 price objective on shares of Northrop Grumman in a research note on Tuesday, December 16th. JPMorgan Chase & Co. boosted their target price on shares of Northrop Grumman from $575.00 to $640.00 and gave the stock a “neutral” rating in a report on Wednesday, October 22nd. Citigroup raised their price target on shares of Northrop Grumman from $654.00 to $715.00 and gave the company a “buy” rating in a report on Tuesday, January 13th. Truist Financial reiterated a “hold” rating and set a $623.00 price objective (down previously from $688.00) on shares of Northrop Grumman in a research note on Friday, January 9th. Finally, Susquehanna reissued a “positive” rating and set a $752.00 target price on shares of Northrop Grumman in a research report on Thursday, January 15th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and seven have given a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $656.82.

About Northrop Grumman

Northrop Grumman Corporation (NYSE: NOC) is a leading U.S.-based aerospace and defense company that designs, builds and sustains advanced systems, products and technologies for government and commercial customers. Formed through the combination of Northrop and Grumman businesses in the 1990s, the company’s portfolio spans manned and unmanned aircraft, space systems, missile defense, radar and sensor systems, and integrated command, control, communications, computers, intelligence, surveillance and reconnaissance (C4ISR) solutions.

The company’s work includes airframe and platform manufacturing, space hardware and satellite systems, advanced mission systems and cybersecurity services, as well as logistics, sustainment and modernization programs.