Zions Bancorporation N.A. Has $441,000 Stock Holdings in Northrop Grumman Co. (NYSE:NOC)

Zions Bancorporation N.A. lifted its stake in shares of Northrop Grumman Co. (NYSE:NOC) by 13.9% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 836 shares of the aerospace company’s stock after buying an additional 102 shares during the period. Zions Bancorporation N.A.’s holdings in Northrop Grumman were worth $441,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Optimum Investment Advisors raised its position in shares of Northrop Grumman by 241.2% in the 2nd quarter. Optimum Investment Advisors now owns 58 shares of the aerospace company’s stock valued at $25,000 after buying an additional 41 shares in the last quarter. Bank & Trust Co acquired a new position in Northrop Grumman during the second quarter valued at approximately $28,000. Meeder Asset Management Inc. lifted its stake in Northrop Grumman by 245.5% during the second quarter. Meeder Asset Management Inc. now owns 76 shares of the aerospace company’s stock worth $33,000 after purchasing an additional 54 shares during the last quarter. Catalyst Capital Advisors LLC acquired a new stake in shares of Northrop Grumman in the 3rd quarter valued at $40,000. Finally, Strategic Financial Concepts LLC bought a new position in shares of Northrop Grumman in the 2nd quarter valued at $47,000. Institutional investors own 83.40% of the company’s stock.

Northrop Grumman Stock Down 1.3 %

Northrop Grumman stock opened at $493.88 on Friday. The firm has a market cap of $71.96 billion, a price-to-earnings ratio of 30.60, a PEG ratio of 1.05 and a beta of 0.35. Northrop Grumman Co. has a 52-week low of $418.60 and a 52-week high of $555.57. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.97 and a current ratio of 1.09. The firm has a 50 day moving average price of $523.70 and a two-hundred day moving average price of $486.13.

Northrop Grumman (NYSE:NOC) last issued its quarterly earnings results on Thursday, October 24th. The aerospace company reported $7.00 earnings per share for the quarter, topping analysts’ consensus estimates of $6.07 by $0.93. The firm had revenue of $10 billion during the quarter, compared to the consensus estimate of $10.18 billion. Northrop Grumman had a return on equity of 26.57% and a net margin of 5.79%. The business’s revenue was up 2.3% compared to the same quarter last year. During the same period last year, the business posted $6.18 EPS. Equities analysts predict that Northrop Grumman Co. will post 25.95 EPS for the current year.

Northrop Grumman Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 18th. Investors of record on Tuesday, September 3rd were given a dividend of $2.06 per share. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $8.24 dividend on an annualized basis and a dividend yield of 1.67%. Northrop Grumman’s payout ratio is presently 51.05%.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on NOC shares. Barclays upped their price objective on Northrop Grumman from $500.00 to $550.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 29th. Wells Fargo & Company raised their price target on shares of Northrop Grumman from $509.00 to $565.00 and gave the company an “equal weight” rating in a research note on Friday, October 25th. Morgan Stanley upped their price objective on shares of Northrop Grumman from $579.00 to $592.00 and gave the stock an “overweight” rating in a research report on Friday, August 9th. TD Cowen upgraded shares of Northrop Grumman to a “hold” rating in a research report on Tuesday, October 8th. Finally, Royal Bank of Canada boosted their target price on shares of Northrop Grumman from $500.00 to $540.00 and gave the stock a “sector perform” rating in a research note on Friday, October 25th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $550.56.

Insider Buying and Selling

In other news, VP Benjamin R. Davies sold 1,156 shares of the company’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $532.93, for a total transaction of $616,067.08. Following the transaction, the vice president now owns 537 shares in the company, valued at approximately $286,183.41. This represents a 68.28 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders have sold a total of 1,289 shares of company stock valued at $685,273 over the last ninety days. 0.22% of the stock is owned by corporate insiders.

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.