Northrop Grumman Co. (NYSE:NOC) Shares Sold by Bank of New York Mellon Corp (2024)

Bank of New York Mellon Corp decreased its holdings in Northrop Grumman Co. (NYSE:NOC - Free Report) by 16.9% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,246,273 shares of the aerospace company's stock after selling 253,854 shares during the period. Bank of New York Mellon Corp owned 0.84% of Northrop Grumman worth $543,313,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the business. International Assets Investment Management LLC bought a new position in shares of Northrop Grumman during the 4th quarter valued at about $605,000. Federated Hermes Inc. boosted its stake in Northrop Grumman by 8.0% during the fourth quarter. Federated Hermes Inc. now owns 2,416 shares of the aerospace company's stock valued at $1,131,000 after buying an additional 179 shares during the last quarter. Syon Capital LLC grew its holdings in Northrop Grumman by 15.4% during the 4th quarter. Syon Capital LLC now owns 1,795 shares of the aerospace company's stock valued at $840,000 after buying an additional 240 shares in the last quarter. KFA Private Wealth Group LLC bought a new stake in Northrop Grumman in the 4th quarter worth approximately $210,000. Finally, Truist Financial Corp raised its holdings in shares of Northrop Grumman by 1.2% during the 4th quarter. Truist Financial Corp now owns 51,184 shares of the aerospace company's stock worth $23,961,000 after acquiring an additional 596 shares in the last quarter. Hedge funds and other institutional investors own 83.40% of the company's stock.

Insiders Place Their Bets

In other news, VP Thomas H. Jones sold 1,389 shares of the business's stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $477.56, for a total value of $663,330.84. Following the completion of the sale, the vice president now owns 6,755 shares in the company, valued at approximately $3,225,917.80. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, VP Thomas H. Jones sold 1,390 shares of Northrop Grumman stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $500.00, for a total value of $695,000.00. Following the transaction, the vice president now directly owns 4,634 shares in the company, valued at approximately $2,317,000. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Thomas H. Jones sold 1,389 shares of the company's stock in a transaction on Friday, July 26th. The stock was sold at an average price of $477.56, for a total value of $663,330.84. Following the sale, the vice president now owns 6,755 shares of the company's stock, valued at $3,225,917.80. The disclosure for this sale can be found here. 0.22% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on NOC shares. BTIG Research began coverage on shares of Northrop Grumman in a research report on Wednesday, June 26th. They issued a "buy" rating and a $565.00 price target on the stock. StockNews.com upgraded shares of Northrop Grumman from a "hold" rating to a "buy" rating in a report on Friday, July 12th. Deutsche Bank Aktiengesellschaft raised shares of Northrop Grumman from a "hold" rating to a "buy" rating and increased their price target for the company from $474.00 to $575.00 in a report on Monday, July 29th. Wells Fargo & Company boosted their price objective on Northrop Grumman from $467.00 to $509.00 and gave the stock an "equal weight" rating in a research note on Friday, July 26th. Finally, Royal Bank of Canada upped their price objective on Northrop Grumman from $475.00 to $500.00 and gave the company a "sector perform" rating in a research report on Friday, July 26th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $521.33.

Check Out Our Latest Stock Report on NOC

Northrop Grumman Trading Up 0.5 %

Shares of NYSE:NOC traded up $2.71 during trading on Monday, reaching $512.05. 515,012 shares of the company were exchanged, compared to its average volume of 943,048. The business's fifty day simple moving average is $462.49 and its 200-day simple moving average is $461.19. The company has a debt-to-equity ratio of 1.03, a current ratio of 1.11 and a quick ratio of 0.99. Northrop Grumman Co. has a 12-month low of $414.56 and a 12-month high of $512.34. The firm has a market capitalization of $75.78 billion, a PE ratio of 35.81, a P/E/G ratio of 2.26 and a beta of 0.32.

Northrop Grumman (NYSE:NOC - Get Free Report) last released its quarterly earnings data on Thursday, July 25th. The aerospace company reported $6.36 EPS for the quarter, topping the consensus estimate of $5.93 by $0.43. Northrop Grumman had a return on equity of 25.44% and a net margin of 5.61%. The company had revenue of $10.22 billion for the quarter, compared to the consensus estimate of $10.02 billion. During the same period last year, the business posted $5.34 EPS. Northrop Grumman's quarterly revenue was up 6.7% on a year-over-year basis. On average, research analysts anticipate that Northrop Grumman Co. will post 25.18 EPS for the current year.

Northrop Grumman Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 18th. Investors of record on Tuesday, September 3rd will be paid a $2.06 dividend. This represents a $8.24 dividend on an annualized basis and a yield of 1.61%. The ex-dividend date is Tuesday, September 3rd. Northrop Grumman's dividend payout ratio (DPR) is presently 57.62%.

Northrop Grumman Profile

(Free Report)

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.

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