CIBC Asset Management Inc Acquires 900 Shares of Northrop Grumman Co. (NYSE:NOC)

CIBC Asset Management Inc increased its position in shares of Northrop Grumman Co. (NYSE:NOC - Free Report) by 4.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 21,497 shares of the aerospace company's stock after acquiring an additional 900 shares during the quarter. CIBC Asset Management Inc's holdings in Northrop Grumman were worth $10,088,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently made changes to their positions in the stock. Stratos Wealth Advisors LLC boosted its holdings in shares of Northrop Grumman by 1.9% in the 3rd quarter. Stratos Wealth Advisors LLC now owns 1,161 shares of the aerospace company's stock valued at $614,000 after buying an additional 22 shares during the period. Cyndeo Wealth Partners LLC grew its position in Northrop Grumman by 10.5% in the third quarter. Cyndeo Wealth Partners LLC now owns 928 shares of the aerospace company's stock worth $490,000 after acquiring an additional 88 shares in the last quarter. Whittier Trust Co. boosted its holdings in shares of Northrop Grumman by 1.0% during the 3rd quarter. Whittier Trust Co. now owns 7,471 shares of the aerospace company's stock worth $3,945,000 after buying an additional 77 shares during the period. Whittier Trust Co. of Nevada Inc. raised its stake in Northrop Grumman by 3.3% during the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 2,550 shares of the aerospace company's stock valued at $1,347,000 after purchasing an additional 82 shares during the last quarter. Finally, Foundations Investment Advisors LLC raised its stake in shares of Northrop Grumman by 1.4% in the 3rd quarter. Foundations Investment Advisors LLC now owns 1,478 shares of the aerospace company's stock valued at $780,000 after buying an additional 20 shares in the last quarter. Institutional investors and hedge funds own 83.40% of the company's stock.

Northrop Grumman Stock Performance

Shares of NYSE:NOC traded up $10.48 during trading hours on Friday, hitting $448.59. The stock had a trading volume of 1,677,601 shares, compared to its average volume of 958,365. Northrop Grumman Co. has a 1-year low of $418.60 and a 1-year high of $555.57. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.91 and a current ratio of 1.01. The firm has a market capitalization of $64.94 billion, a price-to-earnings ratio of 15.83, a PEG ratio of 3.69 and a beta of 0.35. The stock's fifty day simple moving average is $471.66 and its 200 day simple moving average is $497.75.

Northrop Grumman (NYSE:NOC - Get Free Report) last announced its earnings results on Thursday, January 30th. The aerospace company reported $6.39 EPS for the quarter, topping the consensus estimate of $6.27 by $0.12. Northrop Grumman had a net margin of 10.17% and a return on equity of 26.24%. Sell-side analysts anticipate that Northrop Grumman Co. will post 28.05 earnings per share for the current fiscal year.

Northrop Grumman announced that its Board of Directors has initiated a stock repurchase plan on Wednesday, December 11th that authorizes the company to buyback $3.00 billion in outstanding shares. This buyback authorization authorizes the aerospace company to repurchase up to 4.3% of its shares through open market purchases. Shares buyback plans are generally a sign that the company's management believes its stock is undervalued.

Northrop Grumman Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 19th. Stockholders of record on Monday, March 3rd will be given a $2.06 dividend. This represents a $8.24 annualized dividend and a dividend yield of 1.84%. The ex-dividend date is Monday, March 3rd. Northrop Grumman's payout ratio is presently 29.08%.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the stock. Wolfe Research raised shares of Northrop Grumman from an "underperform" rating to a "peer perform" rating in a research note on Monday, February 3rd. Susquehanna dropped their price objective on shares of Northrop Grumman from $625.00 to $557.00 and set a "positive" rating for the company in a report on Wednesday, January 8th. Wells Fargo & Company dropped their price objective on Northrop Grumman from $595.00 to $574.00 and set an "overweight" rating on the stock in a research note on Friday, January 31st. Royal Bank of Canada lifted their target price on Northrop Grumman from $500.00 to $540.00 and gave the company a "sector perform" rating in a report on Friday, October 25th. Finally, Truist Financial started coverage on Northrop Grumman in a research report on Tuesday, January 14th. They issued a "buy" rating and a $544.00 price objective for the company. Nine investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, Northrop Grumman presently has a consensus rating of "Moderate Buy" and an average price target of $544.56.

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.