CIBC Asset Management Inc Acquires 12,799 Shares of Northrop Grumman Corporation $NOC

Key Points

• CIBC Asset Management increased its Northrop Grumman stake by 66.3% in the fourth quarter, buying 12,799 additional shares and bringing its total to 32,097 shares valued at about $18.3 million.
• Several other institutional investors also raised or initiated positions in NOC, and 83.4% of the stock is owned by hedge funds and other institutions, highlighting strong professional ownership interest.
• Northrop Grumman reported better-than-expected quarterly earnings and recently raised its dividend to $2.47 per share, while analysts currently rate the stock a Moderate Buy with an average target price of $702.63.

CIBC Asset Management Inc grew its holdings in shares of Northrop Grumman Corporation (NYSE:NOC - Free Report) by 66.3% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 32,097 shares of the aerospace company's stock after purchasing an additional 12,799 shares during the quarter. CIBC Asset Management Inc's holdings in Northrop Grumman were worth $18,302,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Jennison Associates LLC lifted its stake in shares of Northrop Grumman by 272.8% during the 4th quarter. Jennison Associates LLC now owns 401,664 shares of the aerospace company's stock valued at $229,033,000 after buying an additional 293,909 shares in the last quarter. Holocene Advisors LP purchased a new position in Northrop Grumman in the 3rd quarter valued at approximately $137,280,000. Vanguard Group Inc. raised its holdings in Northrop Grumman by 1.5% during the 4th quarter. Vanguard Group Inc. now owns 13,740,721 shares of the aerospace company's stock valued at $7,835,097,000 after acquiring an additional 209,135 shares during the period. M&T Bank Corp raised its holdings in Northrop Grumman by 1,086.5% during the 4th quarter. M&T Bank Corp now owns 192,583 shares of the aerospace company's stock valued at $109,813,000 after acquiring an additional 176,352 shares during the period. Finally, SG Americas Securities LLC lifted its position in shares of Northrop Grumman by 7,202.7% during the fourth quarter. SG Americas Securities LLC now owns 167,232 shares of the aerospace company's stock worth $95,357,000 after acquiring an additional 164,942 shares in the last quarter. 83.40% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the company. Citigroup cut their price target on Northrop Grumman from $742.00 to $628.00 and set a "buy" rating for the company in a report on Monday, May 18th. Jefferies Financial Group dropped their price objective on Northrop Grumman from $660.00 to $620.00 and set a "buy" rating on the stock in a report on Tuesday, May 26th. Morgan Stanley cut their target price on Northrop Grumman from $765.00 to $745.00 and set an "overweight" rating for the company in a research note on Wednesday, April 22nd. UBS Group decreased their price target on Northrop Grumman from $806.00 to $745.00 and set a "buy" rating on the stock in a research report on Thursday, April 23rd. Finally, Weiss Ratings downgraded shares of Northrop Grumman from a "buy (b)" rating to a "buy (b-)" rating in a report on Friday, May 29th. Two research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and seven have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $702.63.

Northrop Grumman Price Performance

Northrop Grumman stock opened at $544.62 on Friday. The stock has a market cap of $77.35 billion, a price-to-earnings ratio of 17.05, a PEG ratio of 3.59 and a beta of -0.12. The company has a quick ratio of 1.04, a current ratio of 1.15 and a debt-to-equity ratio of 0.84. The business has a 50-day simple moving average of $606.56 and a 200 day simple moving average of $631.68. Northrop Grumman Corporation has a 52 week low of $472.02 and a 52 week high of $774.00.

Northrop Grumman (NYSE:NOC - Get Free Report) last released its quarterly earnings results on Tuesday, April 21st. The aerospace company reported $6.14 earnings per share for the quarter, beating the consensus estimate of $6.06 by $0.08. Northrop Grumman had a return on equity of 24.72% and a net margin of 10.80%.The firm had revenue of $9.88 billion for the quarter, compared to analysts' expectations of $9.75 billion. During the same quarter last year, the firm posted $6.06 EPS. The company's revenue was up 4.4% compared to the same quarter last year. Northrop Grumman has set its FY 2026 guidance at 27.400-27.900 EPS. On average, research analysts forecast that Northrop Grumman Corporation will post 27.93 earnings per share for the current fiscal year.

Northrop Grumman Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 17th. Shareholders of record on Monday, June 1st will be given a dividend of $2.47 per share. The ex-dividend date is Monday, June 1st. This is a boost from Northrop Grumman's previous quarterly dividend of $2.31. This represents a $9.88 annualized dividend and a yield of 1.8%. Northrop Grumman's dividend payout ratio (DPR) is presently 30.92%.

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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