Cibc World Market Inc. Buys 2,035 Shares of Northrop Grumman Corporation $NOC

Key Points

• Cibc World Market Inc. increased its Northrop Grumman stake by 92.2% in the fourth quarter, buying 2,035 additional shares and bringing its total holdings to 4,243 shares worth about $2.42 million.
• Wall Street remains broadly constructive on the stock, with analysts assigning Northrop Grumman a Moderate Buy rating and an average price target of $702.63, even as several firms trimmed their targets.
• Northrop Grumman reported better-than-expected quarterly results and raised its dividend to $2.47 per share quarterly, though the stock was down 0.8% and recently traded well below its 52-week high.

Cibc World Market Inc. boosted its stake in Northrop Grumman Corporation (NYSE:NOC - Free Report) by 92.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 4,243 shares of the aerospace company's stock after purchasing an additional 2,035 shares during the period. Cibc World Market Inc.'s holdings in Northrop Grumman were worth $2,419,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Vanguard Group Inc. boosted its stake in shares of Northrop Grumman by 1.5% during the 4th quarter. Vanguard Group Inc. now owns 13,740,721 shares of the aerospace company's stock worth $7,835,097,000 after acquiring an additional 209,135 shares during the last quarter. Nkcfo LLC purchased a new position in shares of Northrop Grumman during the 3rd quarter valued at $2,986,000. New York State Teachers Retirement System lifted its stake in shares of Northrop Grumman by 9.7% during the 4th quarter. New York State Teachers Retirement System now owns 111,927 shares of the aerospace company's stock valued at $63,822,000 after buying an additional 9,924 shares in the last quarter. Nordea Investment Management AB purchased a new position in shares of Northrop Grumman during the 4th quarter valued at $1,987,000. Finally, Principal Financial Group Inc. lifted its stake in shares of Northrop Grumman by 1.3% during the 4th quarter. Principal Financial Group Inc. now owns 158,958 shares of the aerospace company's stock valued at $90,639,000 after buying an additional 2,025 shares in the last quarter. Hedge funds and other institutional investors own 83.40% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the stock. Jefferies Financial Group lowered their target price on shares of Northrop Grumman from $660.00 to $620.00 and set a "buy" rating on the stock in a research note on Tuesday, May 26th. UBS Group lowered their target price on shares of Northrop Grumman from $806.00 to $745.00 and set a "buy" rating on the stock in a research note on Thursday, April 23rd. Morgan Stanley lowered their target price on shares of Northrop Grumman from $765.00 to $745.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 22nd. Wells Fargo & Company assumed coverage on shares of Northrop Grumman in a research note on Wednesday, April 1st. They set an "overweight" rating and a $800.00 target price on the stock. Finally, Citigroup lowered their target price on shares of Northrop Grumman from $742.00 to $628.00 and set a "buy" rating on the stock in a research note on Monday, May 18th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and seven have issued a Hold rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $702.63.

Northrop Grumman Stock Down 0.8%

Shares of NOC stock opened at $539.96 on Tuesday. The stock has a market cap of $76.69 billion, a P/E ratio of 16.90, a PEG ratio of 3.71 and a beta of -0.12. Northrop Grumman Corporation has a 52 week low of $472.02 and a 52 week high of $774.00. 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 company's fifty day simple moving average is $600.59 and its two-hundred day simple moving average is $631.37.

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

Northrop Grumman Increases Dividend

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

Northrop Grumman Company 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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