Huntington National Bank Sells 3,291 Shares of Northrop Grumman Co. (NYSE:NOC)

Huntington National Bank reduced its holdings in Northrop Grumman Co. (NYSE:NOC) by 10.5% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 27,909 shares of the aerospace company’s stock after selling 3,291 shares during the period. Huntington National Bank’s holdings in Northrop Grumman were worth $14,738,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of NOC. Optimum Investment Advisors increased its position in Northrop Grumman by 241.2% during the second quarter. Optimum Investment Advisors now owns 58 shares of the aerospace company’s stock worth $25,000 after acquiring an additional 41 shares during the period. Bank & Trust Co bought a new position in shares of Northrop Grumman during the 2nd quarter worth about $28,000. Meeder Asset Management Inc. raised its position in shares of Northrop Grumman by 245.5% during the second quarter. Meeder Asset Management Inc. now owns 76 shares of the aerospace company’s stock valued at $33,000 after buying an additional 54 shares during the last quarter. Catalyst Capital Advisors LLC bought a new stake in shares of Northrop Grumman in the third quarter valued at about $40,000. Finally, Strategic Financial Concepts LLC acquired a new stake in Northrop Grumman during the second quarter worth about $47,000. 83.40% of the stock is currently owned by institutional investors and hedge funds.

Northrop Grumman Trading Down 3.9 %

Shares of NYSE:NOC opened at $500.34 on Friday. The stock has a market capitalization of $72.90 billion, a PE ratio of 31.00, a price-to-earnings-growth ratio of 1.05 and a beta of 0.35. The company’s 50-day moving average price is $524.08 and its two-hundred day moving average price is $486.03. The company has a debt-to-equity ratio of 1.00, a current ratio of 1.09 and a quick ratio of 0.97. Northrop Grumman Co. has a one year low of $418.60 and a one year high of $555.57.

Northrop Grumman (NYSE:NOC) last released its earnings results on Thursday, October 24th. The aerospace company reported $7.00 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.07 by $0.93. The business 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%. Northrop Grumman’s revenue was up 2.3% on a year-over-year basis. During the same quarter in the prior year, the company posted $6.18 earnings per share. On average, equities analysts forecast that Northrop Grumman Co. will post 25.95 EPS for the current fiscal year.

Northrop Grumman Dividend Announcement

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

Analyst Ratings Changes

Several research firms have commented on NOC. Royal Bank of Canada upped their price target on Northrop Grumman from $500.00 to $540.00 and gave the company a “sector perform” rating in a report on Friday, October 25th. StockNews.com raised Northrop Grumman from a “buy” rating to a “strong-buy” rating in a research report on Tuesday. Susquehanna boosted their price target on shares of Northrop Grumman from $560.00 to $625.00 and gave the company a “positive” rating in a report on Friday, October 25th. Deutsche Bank Aktiengesellschaft upgraded shares of Northrop Grumman from a “hold” rating to a “buy” rating and increased their price objective for the company from $474.00 to $575.00 in a research note on Monday, July 29th. Finally, UBS Group lifted their target price on shares of Northrop Grumman from $614.00 to $643.00 and gave the company a “buy” rating in a research report on Friday, October 25th. 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 issued a strong buy rating to the stock. According to MarketBeat.com, Northrop Grumman currently has a consensus rating of “Hold” and an average price target of $550.56.

Insider Buying and Selling

In related news, VP Benjamin R. Davies sold 1,156 shares of Northrop Grumman stock in a transaction dated 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 transaction, the vice president now owns 537 shares in the company, valued at approximately $286,183.41. This trade represents a 68.28 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Over the last three months, insiders have sold 1,289 shares of company stock worth $685,273. Insiders own 0.22% 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.