Trade Report: Today, BB&T Corp Sold shares of Northrop Grumman Corp. (NOC)

Today, BB&T Corp Sold shares of Northrop Grumman Corp. (NOC)

BB&T Corp cut its stake in shares of Northrop Grumman Corp. (NYSE:NOC) by 13.2% during the third quarter, Holdings Channel reports. The firm owned 3,000 shares of the company’s stock after selling 457 shares during the period. BB&T Corp’s holdings in Northrop Grumman Corp. were worth $642,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Quadrant Capital Group LLC increased its stake in Northrop Grumman Corp. by 13.9% in the second quarter. Quadrant Capital Group LLC now owns 501 shares of the company’s stock valued at $106,000 after buying an additional 61 shares during the period. Dubuque Bank & Trust Co. increased its stake in Northrop Grumman Corp. by 446.7% in the second quarter. Dubuque Bank & Trust Co. now owns 492 shares of the company’s stock valued at $109,000 after buying an additional 402 shares during the period. Community Bank N.A. increased its stake in Northrop Grumman Corp. by 4.0% in the third quarter. Community Bank N.A. now owns 520 shares of the company’s stock valued at $111,000 after buying an additional 20 shares during the period. Integrated Wealth Management increased its stake in Northrop Grumman Corp. by 148.3% in the third quarter. Integrated Wealth Management now owns 524 shares of the company’s stock valued at $112,000 after buying an additional 313 shares during the period. Finally, Thompson Davis & CO. Inc. increased its stake in Northrop Grumman Corp. by 1.5% in the second quarter. Thompson Davis & CO. Inc. now owns 533 shares of the company’s stock valued at $118,000 after buying an additional 8 shares during the period. 82.11% of the stock is owned by hedge funds and other institutional investors.

Shares of Northrop Grumman Corp. (NYSE:NOC) opened at 248.58 on Friday. The stock has a 50 day moving average of $230.44 and a 200 day moving average of $219.61. The company has a market cap of $43.81 billion, a price-to-earnings ratio of 21.21 and a beta of 0.66. Northrop Grumman Corp. has a 52-week low of $175.00 and a 52-week high of $253.09.

Northrop Grumman Corp. (NYSE:NOC) last issued its quarterly earnings results on Wednesday, October 26th. The company reported $3.35 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.81 by $0.54. The company earned $6.20 billion during the quarter, compared to analyst estimates of $6.01 billion. Northrop Grumman Corp. had a net margin of 8.96% and a return on equity of 34.10%. Northrop Grumman Corp.’s quarterly revenue was up 2.9% compared to the same quarter last year. During the same period last year, the business earned $2.75 EPS. On average, equities research analysts expect that Northrop Grumman Corp. will post $11.72 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 21st. Investors of record on Monday, December 5th will be paid a $0.90 dividend. The ex-dividend date of this dividend is Thursday, December 1st. This represents a $3.60 annualized dividend and a dividend yield of 1.45%. Northrop Grumman Corp.’s payout ratio is 30.72%.

Several equities research analysts have weighed in on NOC shares. Citigroup Inc. lifted their price target on shares of Northrop Grumman Corp. from $235.00 to $243.00 and gave the company a “buy” rating in a research note on Tuesday, September 6th. Argus reiterated a “buy” rating on shares of Northrop Grumman Corp. in a report on Tuesday, August 2nd. Zacks Investment Research upgraded shares of Northrop Grumman Corp. from a “hold” rating to a “buy” rating and set a $252.00 price objective for the company in a report on Friday, October 28th. Jefferies Group reiterated a “buy” rating and set a $260.00 price objective (up from $250.00) on shares of Northrop Grumman Corp. in a report on Friday, October 28th. Finally, Wells Fargo & Co. reiterated a “hold” rating on shares of Northrop Grumman Corp. in a report on Monday, November 14th. Seven research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Northrop Grumman Corp. has a consensus rating of “Buy” and an average target price of $236.16.

In related news, VP Denise M. Peppard sold 2,015 shares of the stock in a transaction dated Tuesday, November 1st. The shares were sold at an average price of $229.50, for a total transaction of $462,442.50. Following the sale, the vice president now directly owns 37,284 shares of the company’s stock, valued at approximately $8,556,678. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Christopher T. Jones sold 240 shares of the stock in a transaction dated Thursday, September 1st. The shares were sold at an average price of $212.20, for a total transaction of $50,928.00. Following the sale, the vice president now directly owns 47,780 shares in the company, valued at $10,138,916. The disclosure for this sale can be found here. 0.90% of the stock is currently owned by corporate insiders.

Northrop Grumman Corp. Company Profile

Northrop Grumman Corporation (Northrop Grumman) is a global security company. The Company provides systems, products and solutions in unmanned systems; cyber; command, control, communications and computers (C4), intelligence, surveillance, and reconnaissance (C4ISR); strike aircraft, and logistics and modernization to Government and commercial customers across the world.

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