National Bank of Canada FI Has $94.74 Million Stake in Northrop Grumman Corporation (NYSE:NOC)

Key Points

• National Bank of Canada FI increased its holdings in Northrop Grumman by 62.7%, purchasing an additional 71,312 shares, reaching a total of 185,048 shares valued at approximately $94.74 million.
• Several large investors have also increased their positions in Northrop Grumman, with notable boosts from Deutsche Bank AG (up 54.1%) and Fayez Sarofim & Co (up 44.2%), contributing to institutional ownership of 83.40%.
• Northrop Grumman reported earnings of $7.11 per share for the last quarter, surpassing analysts’ expectations, and declared a quarterly dividend of $2.31 per share, marking an increase from the previous dividend amount.

National Bank of Canada FI raised its position in Northrop Grumman Corporation (NYSE:NOC - Free Report) by 62.7% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 185,048 shares of the aerospace company's stock after buying an additional 71,312 shares during the quarter. National Bank of Canada FI owned about 0.13% of Northrop Grumman worth $94,744,000 as of its most recent filing with the SEC.

Other institutional investors also recently bought and sold shares of the company. Redhawk Wealth Advisors Inc. lifted its holdings in Northrop Grumman by 3.0% in the first quarter. Redhawk Wealth Advisors Inc. now owns 644 shares of the aerospace company's stock valued at $330,000 after acquiring an additional 19 shares during the period. Salvus Wealth Management LLC lifted its holdings in Northrop Grumman by 1.5% in the first quarter. Salvus Wealth Management LLC now owns 1,349 shares of the aerospace company's stock valued at $691,000 after acquiring an additional 20 shares during the period. IAG Wealth Partners LLC lifted its holdings in Northrop Grumman by 8.4% in the first quarter. IAG Wealth Partners LLC now owns 271 shares of the aerospace company's stock valued at $139,000 after acquiring an additional 21 shares during the period. Integrated Investment Consultants LLC lifted its holdings in Northrop Grumman by 3.9% in the first quarter. Integrated Investment Consultants LLC now owns 553 shares of the aerospace company's stock valued at $283,000 after acquiring an additional 21 shares during the period. Finally, Bank Pictet & Cie Europe AG lifted its holdings in Northrop Grumman by 2.2% in the fourth quarter. Bank Pictet & Cie Europe AG now owns 1,006 shares of the aerospace company's stock valued at $472,000 after acquiring an additional 22 shares during the period. 83.40% of the stock is owned by institutional investors and hedge funds.

Northrop Grumman Stock Down 0.3%

Northrop Grumman stock traded down $1.52 during mid-day trading on Wednesday, hitting $579.28. The company's stock had a trading volume of 328,634 shares, compared to its average volume of 1,001,837. The firm's 50 day moving average is $526.45 and its 200 day moving average is $498.99. The company has a market cap of $82.94 billion, a PE ratio of 21.34, a price-to-earnings-growth ratio of 5.50 and a beta of 0.15. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.04 and a quick ratio of 0.93. Northrop Grumman Corporation has a 52-week low of $426.24 and a 52-week high of $594.68.

Northrop Grumman (NYSE:NOC - Get Free Report) last posted its earnings results on Tuesday, July 22nd. The aerospace company reported $7.11 EPS for the quarter, topping the consensus estimate of $6.84 by $0.27. Northrop Grumman had a return on equity of 25.52% and a net margin of 9.74%. The business had revenue of $10.35 billion during the quarter, compared to the consensus estimate of $10.15 billion. During the same quarter last year, the company earned $6.36 EPS. Northrop Grumman's revenue was up 1.3% on a year-over-year basis. On average, analysts anticipate that Northrop Grumman Corporation will post 28.05 earnings per share for the current year.

Northrop Grumman Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 18th. Investors of record on Monday, June 2nd were paid a dividend of $2.31 per share. This represents a $9.24 dividend on an annualized basis and a dividend yield of 1.6%. 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 payout ratio is presently 34.06%.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on NOC. Robert W. Baird raised their price target on Northrop Grumman from $547.00 to $565.00 and gave the company a "neutral" rating in a research report on Wednesday, July 23rd. Wall Street Zen lowered Northrop Grumman from a "buy" rating to a "hold" rating in a research report on Thursday, April 24th. UBS Group decreased their price target 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. Bank of America upped their price objective on Northrop Grumman from $550.00 to $650.00 and gave the company a "buy" rating in a report on Wednesday, July 23rd. Finally, Royal Bank Of Canada upped their price objective on Northrop Grumman from $600.00 to $625.00 and gave the company an "outperform" rating in a report on Tuesday, July 22nd. Ten investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Northrop Grumman has a consensus rating of "Moderate Buy" and an average price target of $586.79.

Insider Buying and Selling

In related news, VP Robert J. Fleming sold 3,500 shares of Northrop Grumman stock in a transaction on Friday, June 13th. The stock was sold at an average price of $505.77, for a total transaction of $1,770,195.00. Following the completion of the sale, the vice president directly owned 1,827 shares of the company's stock, valued at $924,041.79. The trade was a 65.70% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Roshan S. Roeder sold 991 shares of Northrop Grumman stock in a transaction on Wednesday, June 4th. The stock was sold at an average price of $490.00, for a total value of $485,590.00. Following the sale, the vice president directly owned 319 shares of the company's stock, valued at approximately $156,310. This trade represents a 75.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 16,536 shares of company stock valued at $8,306,857 in the last three months. 0.23% of the stock is currently owned by company insiders.

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.