National Bank of Canada FI Sells 43,865 Shares of Northrop Grumman Co. (NYSE:NOC)

National Bank of Canada FI lessened its holdings in Northrop Grumman Co. (NYSE:NOC - Free Report) by 27.8% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 113,736 shares of the aerospace company's stock after selling 43,865 shares during the quarter. National Bank of Canada FI owned 0.08% of Northrop Grumman worth $53,382,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in the business. Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in Northrop Grumman during the 3rd quarter valued at about $1,056,000. Public Sector Pension Investment Board boosted its stake in shares of Northrop Grumman by 7.7% during the third quarter. Public Sector Pension Investment Board now owns 5,567 shares of the aerospace company's stock valued at $2,940,000 after purchasing an additional 400 shares during the period. Erste Asset Management GmbH bought a new position in shares of Northrop Grumman in the third quarter worth approximately $71,000. Kestra Investment Management LLC purchased a new position in shares of Northrop Grumman in the third quarter worth $341,000. Finally, Point72 Asia Singapore Pte. Ltd. bought a new stake in Northrop Grumman during the 3rd quarter valued at $559,000. 83.40% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have issued reports on NOC. Susquehanna decreased their price objective on shares of Northrop Grumman from $625.00 to $557.00 and set a "positive" rating on the stock in a research report on Wednesday, January 8th. Wells Fargo & Company raised their target price on Northrop Grumman from $545.00 to $547.00 and gave the stock an "overweight" rating in a research note on Friday, March 7th. Wolfe Research raised Northrop Grumman from an "underperform" rating to a "peer perform" rating in a research report on Monday, February 3rd. Argus upgraded Northrop Grumman to a "strong-buy" rating in a research report on Wednesday, February 26th. Finally, Barclays reduced their target price on Northrop Grumman from $550.00 to $500.00 and set an "equal weight" rating on the stock in a research note on Monday, January 6th. Eight investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $545.06.

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Northrop Grumman Stock Up 0.6 %

Shares of NOC stock traded up $3.02 during mid-day trading on Thursday, reaching $515.20. 1,055,787 shares of the company's stock traded hands, compared to its average volume of 865,709. The company has a quick ratio of 0.91, a current ratio of 1.01 and a debt-to-equity ratio of 0.96. The company's 50-day moving average price is $479.48 and its 200-day moving average price is $492.88. The company has a market cap of $74.58 billion, a P/E ratio of 18.18, a P/E/G ratio of 3.73 and a beta of 0.31. Northrop Grumman Co. has a 12 month low of $418.60 and a 12 month high of $555.57.

Northrop Grumman (NYSE:NOC - Get Free Report) last announced its quarterly earnings data on Thursday, January 30th. The aerospace company reported $6.39 earnings per share for the quarter, topping 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%. On average, equities analysts expect that Northrop Grumman Co. will post 28.05 earnings per share for the current fiscal year.

Northrop Grumman Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 19th. Investors of record on Monday, March 3rd were given a dividend of $2.06 per share. This represents a $8.24 annualized dividend and a dividend yield of 1.60%. The ex-dividend date was Monday, March 3rd. Northrop Grumman's dividend payout ratio (DPR) is currently 29.08%.

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

Insider Buying and Selling at Northrop Grumman

In other Northrop Grumman news, CEO Kathy J. Warden sold 3,750 shares of the business's stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $475.65, for a total value of $1,783,687.50. Following the completion of the transaction, the chief executive officer now owns 212,852 shares of the company's stock, valued at approximately $101,243,053.80. The trade was a 1.73 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Benjamin R. Davies sold 192 shares of the business's stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $429.08, for a total transaction of $82,383.36. Following the transaction, the vice president now directly owns 709 shares of the company's stock, valued at $304,217.72. The trade was a 21.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 4,505 shares of company stock worth $2,126,405. Insiders own 0.22% of the company's stock.

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.