Canvas Wealth Advisors LLC Invests $286,000 in Northrop Grumman Corporation (NYSE:NOC)

Canvas Wealth Advisors LLC bought a new stake in Northrop Grumman Corporation (NYSE:NOC - Free Report) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 558 shares of the aerospace company's stock, valued at approximately $286,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. GAMMA Investing LLC raised its holdings in shares of Northrop Grumman by 55,522.3% in the 1st quarter. GAMMA Investing LLC now owns 1,520,158 shares of the aerospace company's stock valued at $778,336,000 after buying an additional 1,517,425 shares during the period. Capital International Investors increased its stake in Northrop Grumman by 5.9% during the fourth quarter. Capital International Investors now owns 8,239,434 shares of the aerospace company's stock worth $3,866,133,000 after purchasing an additional 461,307 shares during the period. Price T Rowe Associates Inc. MD lifted its position in shares of Northrop Grumman by 28.5% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 2,030,644 shares of the aerospace company's stock worth $952,962,000 after purchasing an additional 450,858 shares in the last quarter. First Trust Advisors LP boosted its stake in shares of Northrop Grumman by 337.1% in the fourth quarter. First Trust Advisors LP now owns 482,112 shares of the aerospace company's stock valued at $226,250,000 after purchasing an additional 371,814 shares during the period. Finally, Raymond James Financial Inc. acquired a new position in shares of Northrop Grumman in the fourth quarter valued at approximately $171,580,000. Hedge funds and other institutional investors own 83.40% of the company's stock.

Insider Activity

In related news, VP Thomas H. Jones sold 729 shares of the firm's stock in a transaction dated Friday, June 13th. The stock was sold at an average price of $505.77, for a total transaction of $368,706.33. Following the transaction, the vice president now owns 7,552 shares of the company's stock, valued at $3,819,575.04. This trade represents a 8.80% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, VP Roshan S. Roeder sold 991 shares of the business's stock in a transaction dated Wednesday, June 4th. The shares were sold at an average price of $490.00, for a total value of $485,590.00. Following the completion of the transaction, the vice president now owns 319 shares in the company, valued at $156,310. This trade represents a 75.65% 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. 0.23% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

NOC has been the subject of several recent research reports. Royal Bank Of Canada decreased their price target on shares of Northrop Grumman from $575.00 to $550.00 and set an "outperform" rating for the company in a research report on Wednesday, April 23rd. The Goldman Sachs Group upgraded Northrop Grumman from a "sell" rating to a "neutral" rating and lifted their target price for the company from $424.00 to $521.00 in a report on Friday, April 11th. Susquehanna cut their price target on Northrop Grumman from $557.00 to $540.00 and set a "positive" rating on the stock in a report on Wednesday, April 23rd. Wells Fargo & Company set a $525.00 price objective on Northrop Grumman and gave the company an "overweight" rating in a research note on Thursday, April 24th. Finally, UBS Group cut their target price on shares of Northrop Grumman from $583.00 to $571.00 and set a "buy" rating on the stock in a research note on Wednesday, April 23rd. Seven investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $552.54.

Northrop Grumman Trading Up 1.4%

Shares of Northrop Grumman stock opened at $493.74 on Friday. 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 $71.06 billion, a price-to-earnings ratio of 19.48, a PEG ratio of 5.32 and a beta of 0.14. The company has a fifty day simple moving average of $485.77 and a 200-day simple moving average of $483.27.

Northrop Grumman (NYSE:NOC - Get Free Report) last posted its earnings results on Tuesday, April 22nd. The aerospace company reported $6.06 EPS for the quarter, missing analysts' consensus estimates of $6.33 by ($0.27). The firm had revenue of $9.47 billion for the quarter, compared to analyst estimates of $10.07 billion. Northrop Grumman had a return on equity of 25.46% and a net margin of 9.19%. On average, equities analysts forecast that Northrop Grumman Corporation will post 28.05 EPS for the current fiscal year.

Northrop Grumman Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 18th. Stockholders of record on Monday, June 2nd were given a dividend of $2.31 per share. The ex-dividend date of this dividend was Monday, June 2nd. This is a positive change from Northrop Grumman's previous quarterly dividend of $2.06. This represents a $9.24 dividend on an annualized basis and a dividend yield of 1.87%. Northrop Grumman's dividend payout ratio (DPR) is 36.46%.

Northrop Grumman 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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