Northrop Grumman Co. (NYSE:NOC) Shares Bought by Cibc World Markets Corp

Cibc World Markets Corp grew its holdings in shares of Northrop Grumman Co. (NYSE:NOC) by 15.3% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 21,728 shares of the aerospace company’s stock after purchasing an additional 2,889 shares during the period. Cibc World Markets Corp’s holdings in Northrop Grumman were worth $10,197,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. RPg Family Wealth Advisory LLC bought a new stake in shares of Northrop Grumman during the 3rd quarter worth about $31,000. Whipplewood Advisors LLC acquired a new position in shares of Northrop Grumman during the fourth quarter valued at approximately $31,000. Albion Financial Group UT bought a new stake in Northrop Grumman during the fourth quarter worth approximately $33,000. FSA Wealth Management LLC acquired a new stake in Northrop Grumman in the third quarter worth approximately $36,000. Finally, Modus Advisors LLC bought a new position in Northrop Grumman during the 4th quarter valued at $38,000. 83.40% of the stock is currently owned by institutional investors.

Insider Activity at Northrop Grumman

In other Northrop Grumman news, VP Benjamin R. Davies sold 464 shares of Northrop Grumman stock in a transaction that occurred on Friday, February 28th. The shares were sold at an average price of $460.75, for a total value of $213,788.00. Following the completion of the sale, the vice president now directly owns 245 shares in the company, valued at $112,883.75. The trade was a 65.44 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Kathy J. Warden sold 3,750 shares of the stock in a transaction on Thursday, March 6th. The stock was sold at an average price of $475.65, for a total transaction of $1,783,687.50. Following the transaction, the chief executive officer now owns 212,852 shares in the company, valued at approximately $101,243,053.80. This trade represents a 1.73 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 4,505 shares of company stock valued at $2,126,405. Insiders own 0.22% of the company’s stock.

Northrop Grumman Trading Down 0.2 %

Shares of NYSE NOC opened at $489.64 on Wednesday. The firm has a market capitalization of $70.88 billion, a PE ratio of 17.28, a PEG ratio of 3.73 and a beta of 0.31. Northrop Grumman Co. has a one year low of $418.60 and a one year high of $555.57. The company has a current ratio of 1.01, a quick ratio of 0.91 and a debt-to-equity ratio of 0.96. The business has a 50-day moving average price of $473.40 and a two-hundred day moving average price of $493.79.

Northrop Grumman (NYSE:NOC) last announced its quarterly earnings data on Thursday, January 30th. The aerospace company reported $6.39 EPS for the quarter, beating analysts’ consensus estimates of $6.27 by $0.12. Northrop Grumman had a net margin of 10.17% and a return on equity of 26.24%. As a group, analysts predict that Northrop Grumman Co. will post 28.05 earnings per share for the current fiscal year.

Northrop Grumman announced that its board has authorized a stock buyback program on Wednesday, December 11th that authorizes the company to repurchase $3.00 billion in shares. This repurchase authorization authorizes the aerospace company to purchase up to 4.3% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s board believes its shares are undervalued.

Northrop Grumman Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 19th. Investors of record on Monday, March 3rd will be issued a dividend of $2.06 per share. The ex-dividend date is Monday, March 3rd. This represents a $8.24 annualized dividend and a dividend yield of 1.68%. Northrop Grumman’s dividend payout ratio is 29.08%.

Analyst Ratings Changes

NOC has been the topic of a number of research reports. Argus raised Northrop Grumman to a “strong-buy” rating in a research note on Wednesday, February 26th. StockNews.com downgraded shares of Northrop Grumman from a “strong-buy” rating to a “buy” rating in a report on Monday, February 3rd. Truist Financial started coverage on shares of Northrop Grumman in a research note on Tuesday, January 14th. They issued a “buy” rating and a $544.00 price objective on the stock. Susquehanna cut their target price on shares of Northrop Grumman from $625.00 to $557.00 and set a “positive” rating for the company in a research note on Wednesday, January 8th. Finally, UBS Group decreased their price target on shares of Northrop Grumman from $579.00 to $558.00 and set a “buy” rating on the stock in a research report on Friday, January 31st. Nine research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $542.88.

About Northrop Grumman

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.