Canoe Financial LP Sells 940 Shares of Northrop Grumman Corporation (NYSE:NOC)

Canoe Financial LP reduced its position in shares of Northrop Grumman Corporation (NYSE:NOC - Free Report) by 1.1% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 80,992 shares of the aerospace company's stock after selling 940 shares during the quarter. Canoe Financial LP owned 0.06% of Northrop Grumman worth $41,469,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in NOC. Brighton Jones LLC grew its stake in shares of Northrop Grumman by 176.3% during the 4th quarter. Brighton Jones LLC now owns 2,970 shares of the aerospace company's stock valued at $1,394,000 after purchasing an additional 1,895 shares during the period. Bank Pictet & Cie Europe AG grew its stake in shares of Northrop Grumman by 2.2% during the 4th quarter. Bank Pictet & Cie Europe AG now owns 1,006 shares of the aerospace company's stock valued at $472,000 after purchasing an additional 22 shares during the period. Venturi Wealth Management LLC grew its stake in shares of Northrop Grumman by 41.2% during the 4th quarter. Venturi Wealth Management LLC now owns 476 shares of the aerospace company's stock valued at $223,000 after purchasing an additional 139 shares during the period. Global Retirement Partners LLC grew its stake in shares of Northrop Grumman by 11.5% during the 4th quarter. Global Retirement Partners LLC now owns 947 shares of the aerospace company's stock valued at $444,000 after purchasing an additional 98 shares during the period. Finally, Private Advisor Group LLC grew its stake in shares of Northrop Grumman by 12.9% during the 4th quarter. Private Advisor Group LLC now owns 10,279 shares of the aerospace company's stock valued at $4,823,000 after purchasing an additional 1,172 shares during the period. 83.40% of the stock is currently owned by institutional investors.

Insider Transactions at Northrop Grumman

In related news, CEO Kathy J. Warden sold 3,750 shares of the stock in a transaction on Thursday, June 12th. The stock was sold at an average price of $495.00, for a total transaction of $1,856,250.00. Following the sale, the chief executive officer now owns 209,102 shares in the company, valued at approximately $103,505,490. This represents a 1.76% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, VP Thomas H. Jones sold 729 shares of the stock in a transaction on Friday, June 13th. The shares were sold at an average price of $505.77, for a total value of $368,706.33. Following the sale, the vice president now owns 7,552 shares in the company, valued at $3,819,575.04. The trade was a 8.80% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 16,569 shares of company stock valued at $8,322,279 in the last ninety days. Corporate insiders own 0.23% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the company. Royal Bank Of Canada cut their price target on Northrop Grumman from $575.00 to $550.00 and set an "outperform" rating for the company in a research note on Wednesday, April 23rd. Argus upgraded Northrop Grumman to a "strong-buy" rating in a research note on Wednesday, February 26th. Morgan Stanley boosted their price objective on Northrop Grumman from $580.00 to $625.00 and gave the company an "overweight" rating in a research note on Wednesday, April 16th. UBS Group cut their price objective on Northrop Grumman from $583.00 to $571.00 and set a "buy" rating for the company in a research note on Wednesday, April 23rd. Finally, Truist Financial cut their price objective on Northrop Grumman from $600.00 to $550.00 and set a "buy" rating for the company in a research note on Wednesday, April 23rd. Eight research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, Northrop Grumman currently has an average rating of "Moderate Buy" and an average price target of $548.33.

Northrop Grumman Stock Up 0.7%

NYSE NOC opened at $497.92 on Friday. The stock's 50 day moving average is $489.35 and its 200 day moving average is $482.96. The company has a current ratio of 0.95, a quick ratio of 0.84 and a debt-to-equity ratio of 0.95. Northrop Grumman Corporation has a 12 month low of $422.69 and a 12 month high of $555.57. The stock has a market cap of $71.66 billion, a PE ratio of 19.65, a P/E/G ratio of 5.40 and a beta of 0.14.

Northrop Grumman (NYSE:NOC - Get Free Report) last issued its quarterly earnings data on Tuesday, April 22nd. The aerospace company reported $6.06 earnings per share (EPS) for the quarter, missing the consensus estimate of $6.33 by ($0.27). The firm had revenue of $9.47 billion for the quarter, compared to analysts' expectations of $10.07 billion. Northrop Grumman had a return on equity of 25.46% and a net margin of 9.19%. Research analysts predict that Northrop Grumman Corporation will post 28.05 EPS for the current fiscal year.

Northrop Grumman Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 18th. Stockholders of record on Monday, June 2nd were issued a dividend of $2.31 per share. This represents a $9.24 annualized dividend and a dividend yield of 1.86%. This is a boost from Northrop Grumman's previous quarterly dividend of $2.06. The ex-dividend date of this dividend was Monday, June 2nd. Northrop Grumman's dividend payout ratio is 36.46%.

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.

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