Bank of Nova Scotia Has $28.76 Million Stake in Northrop Grumman Corporation $NOC

Key Points

• Bank of Nova Scotia increased its Northrop Grumman stake by 19.7% in the second quarter, bringing its holdings to 56,477 shares valued at approximately $28.76 million. Institutional investors and hedge funds collectively own 83.4% of the company.
• Northrop Grumman reported quarterly EPS of $7.68, beating estimates by $0.86, while revenue rose 5.1% year over year to $10.88 billion. The stock opened at $552.29, below its 52-week high of $774.00.
• The company announced a quarterly dividend of $2.47 per share, equivalent to an annualized $9.88 payout and a 1.8% yield. Analysts maintain a consensus “Moderate Buy” rating with an average price target of $661.30.

Bank of Nova Scotia grew its holdings in shares of Northrop Grumman Corporation (NYSE:NOC - Free Report) by 19.7% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 56,477 shares of the aerospace company's stock after purchasing an additional 9,288 shares during the period. Bank of Nova Scotia's holdings in Northrop Grumman were worth $28,764,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. BlackRock Inc. acquired a new stake in Northrop Grumman during the second quarter worth about $6,001,616,000. Capital World Investors lifted its holdings in shares of Northrop Grumman by 39.4% during the 4th quarter. Capital World Investors now owns 3,434,041 shares of the aerospace company's stock worth $1,958,151,000 after acquiring an additional 970,029 shares during the period. Bank of New York Mellon Corp acquired a new stake in shares of Northrop Grumman during the 2nd quarter worth approximately $376,135,000. J. Stern & Co. LLP boosted its position in shares of Northrop Grumman by 56,920.9% during the 4th quarter. J. Stern & Co. LLP now owns 421,955 shares of the aerospace company's stock worth $240,603,000 after acquiring an additional 421,215 shares in the last quarter. Finally, Deutsche Bank AG bought a new position in Northrop Grumman in the second quarter valued at approximately $194,058,000. 83.40% of the stock is currently owned by institutional investors and hedge funds.

Northrop Grumman Stock Up 0.2%

NYSE:NOC opened at $552.29 on Monday. Northrop Grumman Corporation has a one year low of $479.02 and a one year high of $774.00. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.17 and a quick ratio of 1.06. The company has a market cap of $78.44 billion, a PE ratio of 17.54, a P/E/G ratio of 3.57 and a beta of -0.11. The firm's 50 day simple moving average is $541.45 and its 200 day simple moving average is $609.53.

Northrop Grumman (NYSE:NOC - Get Free Report) last announced its quarterly earnings results on Tuesday, July 21st. The aerospace company reported $7.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.82 by $0.86. Northrop Grumman had a net margin of 10.48% and a return on equity of 24.25%. The firm had revenue of $10.88 billion during the quarter, compared to analysts' expectations of $10.80 billion. During the same period in the prior year, the company posted $8.15 EPS. The company's revenue was up 5.1% on a year-over-year basis. Northrop Grumman has set its FY 2026 guidance at 28.600-29.100 EPS. On average, research analysts anticipate that Northrop Grumman Corporation will post 28.97 earnings per share for the current year.

Northrop Grumman Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 16th. Investors of record on Monday, August 31st will be given a dividend of $2.47 per share. This represents a $9.88 annualized dividend and a yield of 1.8%. The ex-dividend date of this dividend is Monday, August 31st. Northrop Grumman's dividend payout ratio (DPR) is currently 31.39%.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. Sanford C. Bernstein reaffirmed a "market perform" rating and issued a $653.00 target price on shares of Northrop Grumman in a report on Wednesday, August 5th. Weiss Ratings cut Northrop Grumman from a "hold (c+)" rating to a "hold (c)" rating in a report on Wednesday, August 12th. Raymond James Financial restated an "outperform" rating on shares of Northrop Grumman in a research report on Monday, June 15th. Morgan Stanley set a $745.00 price objective on Northrop Grumman in a research note on Wednesday, July 15th. Finally, UBS Group boosted their target price on Northrop Grumman from $666.00 to $685.00 and gave the stock a "buy" rating in a research note on Wednesday, July 22nd. One research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and eight have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $661.30.

Insider Buying and Selling

In other Northrop Grumman news, Director Mark A. Welsh III sold 95 shares of Northrop Grumman stock in a transaction dated Monday, August 3rd. The stock was sold at an average price of $547.53, for a total transaction of $52,015.35. Following the transaction, the director directly owned 4,393 shares of the company's stock, valued at approximately $2,405,299.29. The trade was a 2.12% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 0.21% of the company's stock.

Northrop Grumman Profile

Northrop Grumman Corporation NYSE: NOC is a leading U.S.-based aerospace and defense company that designs, builds and sustains advanced systems, products and technologies for government and commercial customers. Formed through the combination of Northrop and Grumman businesses in the 1990s, the company's portfolio spans manned and unmanned aircraft, space systems, missile defense, radar and sensor systems, and integrated command, control, communications, computers, intelligence, surveillance and reconnaissance (C4ISR) solutions.

The company's work includes airframe and platform manufacturing, space hardware and satellite systems, advanced mission systems and cybersecurity services, as well as logistics, sustainment and modernization programs.

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