Canoe Financial LP Sells 205 Shares of Northrop Grumman Co. (NYSE:NOC)

Canoe Financial LP reduced its stake in shares of Northrop Grumman Co. (NYSE:NOC) by 0.2% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 81,932 shares of the aerospace company’s stock after selling 205 shares during the quarter. Canoe Financial LP owned about 0.06% of Northrop Grumman worth $38,450,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Wellington Management Group LLP boosted its holdings in shares of Northrop Grumman by 0.4% in the 3rd quarter. Wellington Management Group LLP now owns 4,140,892 shares of the aerospace company’s stock worth $2,186,681,000 after purchasing an additional 17,596 shares during the period. Geode Capital Management LLC lifted its position in Northrop Grumman by 0.6% in the third quarter. Geode Capital Management LLC now owns 3,003,360 shares of the aerospace company’s stock worth $1,581,644,000 after buying an additional 18,791 shares during the last quarter. Franklin Resources Inc. boosted its stake in Northrop Grumman by 6.2% during the third quarter. Franklin Resources Inc. now owns 2,426,270 shares of the aerospace company’s stock worth $1,315,729,000 after buying an additional 141,816 shares during the period. Legal & General Group Plc raised its stake in shares of Northrop Grumman by 16.0% in the second quarter. Legal & General Group Plc now owns 1,087,913 shares of the aerospace company’s stock valued at $474,276,000 after acquiring an additional 150,367 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of Northrop Grumman by 0.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 809,445 shares of the aerospace company’s stock worth $427,444,000 after acquiring an additional 3,211 shares during the last quarter. 83.40% of the stock is currently owned by hedge funds and other institutional investors.

Northrop Grumman Trading Up 0.3 %

NYSE:NOC opened at $482.49 on Friday. The firm has a 50-day simple moving average of $481.48 and a 200-day simple moving average of $493.38. Northrop Grumman Co. has a one year low of $418.60 and a one year high of $555.57. The firm has a market cap of $70.30 billion, a P/E ratio of 29.89, a P/E/G ratio of 0.87 and a beta of 0.35. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.97 and a current ratio of 1.09.

Northrop Grumman (NYSE:NOC) last issued its quarterly earnings data on Thursday, October 24th. The aerospace company reported $7.00 EPS for the quarter, topping analysts’ consensus estimates of $6.07 by $0.93. The company had revenue of $10 billion during the quarter, compared to the consensus estimate of $10.18 billion. Northrop Grumman had a net margin of 5.79% and a return on equity of 26.57%. Northrop Grumman’s revenue for the quarter was up 2.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $6.18 earnings per share. Equities analysts anticipate that Northrop Grumman Co. will post 25.93 EPS for the current fiscal year.

Northrop Grumman announced that its Board of Directors has authorized a stock buyback plan on Wednesday, December 11th that permits the company to repurchase $3.00 billion in shares. This repurchase authorization permits the aerospace company to repurchase up to 4.3% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.

Northrop Grumman Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, December 18th. Investors of record on Monday, December 2nd were given a dividend of $2.06 per share. This represents a $8.24 dividend on an annualized basis and a yield of 1.71%. The ex-dividend date of this dividend was Monday, December 2nd. Northrop Grumman’s payout ratio is currently 51.05%.

Insider Buying and Selling at Northrop Grumman

In other Northrop Grumman news, VP Benjamin R. Davies sold 1,156 shares of the stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $532.93, for a total transaction of $616,067.08. Following the completion of the sale, the vice president now directly owns 537 shares of the company’s stock, valued at approximately $286,183.41. This represents a 68.28 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders have sold 1,255 shares of company stock worth $663,859 over the last quarter. Insiders own 0.22% of the company’s stock.

Wall Street Analysts Forecast Growth

NOC has been the topic of several analyst reports. TD Cowen upgraded shares of Northrop Grumman to a “hold” rating in a report on Tuesday, October 8th. Susquehanna cut their target price on Northrop Grumman from $625.00 to $557.00 and set a “positive” rating on the stock in a research note on Wednesday, January 8th. JPMorgan Chase & Co. raised their price target on Northrop Grumman from $500.00 to $560.00 and gave the stock a “neutral” rating in a research note on Monday, October 14th. Royal Bank of Canada upped their price objective on Northrop Grumman from $500.00 to $540.00 and gave the company a “sector perform” rating in a research report on Friday, October 25th. Finally, Citigroup lifted their target price on Northrop Grumman from $521.00 to $587.00 and gave the stock a “neutral” rating in a research report on Thursday, October 10th. Nine equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $550.94.

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.