Cibc World Markets Corp Buys 2,889 Shares of Northrop Grumman Co. (NYSE:NOC)

Cibc World Markets Corp raised its holdings in Northrop Grumman Co. (NYSE:NOC - Free Report) by 15.3% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 21,728 shares of the aerospace company's stock after buying an additional 2,889 shares during the quarter. Cibc World Markets Corp's holdings in Northrop Grumman were worth $10,197,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in NOC. RPg Family Wealth Advisory LLC acquired a new stake in shares of Northrop Grumman in the third quarter worth $31,000. Whipplewood Advisors LLC acquired a new stake in Northrop Grumman in the 4th quarter worth $31,000. Albion Financial Group UT acquired a new stake in Northrop Grumman in the 4th quarter worth $33,000. FSA Wealth Management LLC bought a new position in shares of Northrop Grumman during the 3rd quarter worth about $36,000. Finally, Modus Advisors LLC acquired a new position in shares of Northrop Grumman during the fourth quarter valued at about $38,000. 83.40% of the stock is owned by institutional investors.

Northrop Grumman Price Performance

NOC stock traded up $3.02 during midday trading on Friday, reaching $492.25. 2,084,666 shares of the company's stock traded hands, compared to its average volume of 829,581. The company has a 50-day simple moving average of $475.18 and a two-hundred day simple moving average of $493.53. The company has a quick ratio of 0.91, a current ratio of 1.01 and a debt-to-equity ratio of 0.96. Northrop Grumman Co. has a 1-year low of $418.60 and a 1-year high of $555.57. The company has a market cap of $71.26 billion, a price-to-earnings ratio of 17.37, a PEG ratio of 3.73 and a beta of 0.31.

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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 return on equity of 26.24% and a net margin of 10.17%. On average, analysts anticipate that Northrop Grumman Co. will post 28.05 earnings per share for the current year.

Northrop Grumman Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 19th. Stockholders of record on Monday, March 3rd were given a dividend of $2.06 per share. The ex-dividend date was Monday, March 3rd. This represents a $8.24 dividend on an annualized basis and a dividend yield of 1.67%. Northrop Grumman's payout ratio is 29.08%.

Northrop Grumman announced that its Board of Directors has approved a stock repurchase program on Wednesday, December 11th that allows the company to buyback $3.00 billion in shares. This buyback authorization allows the aerospace company to buy up to 4.3% of its stock through open market purchases. Stock buyback programs are generally an indication that the company's board of directors believes its shares are undervalued.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. StockNews.com lowered Northrop Grumman from a "strong-buy" rating to a "buy" rating in a research note on Monday, February 3rd. Argus upgraded Northrop Grumman to a "strong-buy" rating in a research note on Wednesday, February 26th. Wells Fargo & Company lifted their price target on shares of Northrop Grumman from $545.00 to $547.00 and gave the stock an "overweight" rating in a research note on Friday, March 7th. Citigroup increased their price objective on shares of Northrop Grumman from $587.00 to $591.00 and gave the company a "buy" rating in a research note on Monday, February 10th. Finally, Wolfe Research upgraded shares of Northrop Grumman from an "underperform" rating to a "peer perform" rating in a research report on Monday, February 3rd. Nine analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $542.88.

Insider Transactions at Northrop Grumman

In other news, CEO Kathy J. Warden sold 3,750 shares of the company's 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 of the company's stock, valued at $101,243,053.80. This represents a 1.73 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Benjamin R. Davies sold 192 shares of the firm's stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $429.08, for a total value of $82,383.36. Following the completion of the transaction, the vice president now owns 709 shares in the company, valued at approximately $304,217.72. This represents a 21.31 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 4,505 shares of company stock worth $2,126,405. Corporate 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.