Northrop Grumman Co. (NYSE:NOC) Shares Acquired by Canada Pension Plan Investment Board

Canada Pension Plan Investment Board lifted its position in Northrop Grumman Co. (NYSE:NOC - Free Report) by 2.3% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 351,670 shares of the aerospace company's stock after buying an additional 8,061 shares during the period. Canada Pension Plan Investment Board owned approximately 0.24% of Northrop Grumman worth $165,035,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the company. M&T Bank Corp lifted its holdings in shares of Northrop Grumman by 5.4% during the 3rd quarter. M&T Bank Corp now owns 19,726 shares of the aerospace company's stock valued at $10,417,000 after purchasing an additional 1,002 shares during the last quarter. Tudor Financial Inc. purchased a new stake in Northrop Grumman in the third quarter valued at about $1,130,000. Anchor Investment Management LLC boosted its holdings in Northrop Grumman by 21.5% in the third quarter. Anchor Investment Management LLC now owns 1,504 shares of the aerospace company's stock worth $794,000 after acquiring an additional 266 shares in the last quarter. Stock Yards Bank & Trust Co. grew its stake in shares of Northrop Grumman by 9.1% during the third quarter. Stock Yards Bank & Trust Co. now owns 745 shares of the aerospace company's stock worth $393,000 after acquiring an additional 62 shares during the last quarter. Finally, Wilmington Savings Fund Society FSB increased its holdings in shares of Northrop Grumman by 274.1% during the third quarter. Wilmington Savings Fund Society FSB now owns 2,566 shares of the aerospace company's stock valued at $1,355,000 after acquiring an additional 1,880 shares in the last quarter. Institutional investors own 83.40% of the company's stock.

Analyst Ratings Changes

NOC has been the topic of several research analyst reports. Susquehanna dropped their target price on shares of Northrop Grumman from $557.00 to $540.00 and set a "positive" rating on the stock in a research report on Wednesday. Wells Fargo & Company boosted their price objective on shares of Northrop Grumman from $545.00 to $547.00 and gave the company an "overweight" rating in a report on Friday, March 7th. Royal Bank of Canada upgraded Northrop Grumman from a "sector perform" rating to an "outperform" rating and raised their target price for the stock from $500.00 to $575.00 in a research note on Thursday, March 27th. Morgan Stanley boosted their price target on Northrop Grumman from $580.00 to $625.00 and gave the company an "overweight" rating in a research note on Wednesday, April 16th. Finally, Truist Financial raised their price objective on Northrop Grumman from $545.00 to $600.00 and gave the stock a "buy" rating in a research note on Thursday, April 17th. Nine investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $548.65.

Northrop Grumman Trading Up 2.4 %

Shares of NOC stock traded up $11.05 on Wednesday, hitting $475.13. 846,286 shares of the stock traded hands, compared to its average volume of 882,488. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.91 and a current ratio of 1.01. Northrop Grumman Co. has a twelve month low of $418.60 and a twelve month high of $555.57. The firm's 50-day moving average price is $489.82 and its two-hundred day moving average price is $491.26. The stock has a market capitalization of $68.48 billion, a PE ratio of 16.77, a PEG ratio of 3.73 and a beta of 0.20.

Northrop Grumman (NYSE:NOC - Get Free Report) last posted its earnings results 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 return on equity of 26.24% and a net margin of 10.17%. As a group, analysts anticipate that Northrop Grumman Co. will post 28.05 EPS for the current year.

Northrop Grumman Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 19th. Shareholders of record on Monday, March 3rd were given a $2.06 dividend. This represents a $8.24 dividend on an annualized basis and a yield of 1.73%. The ex-dividend date was Monday, March 3rd. Northrop Grumman's payout ratio is 29.08%.

Insider Transactions at Northrop Grumman

In related news, CEO Kathy J. Warden sold 3,750 shares of Northrop Grumman stock in a transaction that occurred on Thursday, March 6th. The shares were 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 in the company, valued at $101,243,053.80. The trade was a 1.73 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Benjamin R. Davies sold 192 shares of the stock in a transaction on 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 directly owns 709 shares in the company, valued at $304,217.72. This trade represents a 21.31 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 4,505 shares of company stock worth $2,127,182 over the last ninety days. Company insiders own 0.23% 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.