Cibc World Markets Corp Has $10.20 Million Stake in Northrop Grumman Co. (NYSE:NOC)

Cibc World Markets Corp grew its holdings in Northrop Grumman Co. (NYSE:NOC) by 15.3% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 21,728 shares of the aerospace company’s stock after purchasing an additional 2,889 shares during the quarter. Cibc World Markets Corp’s holdings in Northrop Grumman were worth $10,197,000 as of its most recent filing with the SEC.

Other institutional investors have also made changes to their positions in the company. Wellington Management Group LLP grew its holdings in 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 valued at $2,186,681,000 after buying an additional 17,596 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of 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 valued at $1,581,644,000 after acquiring an additional 18,791 shares during the period. Franklin Resources Inc. grew its stake in shares of Northrop Grumman by 6.2% in the third quarter. Franklin Resources Inc. now owns 2,426,270 shares of the aerospace company’s stock worth $1,315,729,000 after acquiring an additional 141,816 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in Northrop Grumman by 2.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 832,463 shares of the aerospace company’s stock worth $390,667,000 after acquiring an additional 23,018 shares during the period. Finally, Two Sigma Advisers LP raised its stake in Northrop Grumman by 102.6% during the 3rd quarter. Two Sigma Advisers LP now owns 735,600 shares of the aerospace company’s stock valued at $388,448,000 after purchasing an additional 372,500 shares during the last quarter. 83.40% of the stock is currently owned by institutional investors.

Northrop Grumman Price Performance

NYSE:NOC opened at $489.64 on Wednesday. The company has a quick ratio of 0.91, a current ratio of 1.01 and a debt-to-equity ratio of 0.96. The firm has a market cap of $70.88 billion, a PE ratio of 17.28, a price-to-earnings-growth ratio of 3.73 and a beta of 0.31. Northrop Grumman Co. has a 12 month low of $418.60 and a 12 month high of $555.57. The company’s 50-day moving average price is $473.40 and its two-hundred day moving average price is $493.79.

Northrop Grumman (NYSE:NOC) last announced its earnings results on Thursday, January 30th. The aerospace company reported $6.39 EPS for the quarter, topping the consensus estimate of $6.27 by $0.12. Northrop Grumman had a return on equity of 26.24% and a net margin of 10.17%. On average, equities analysts anticipate that Northrop Grumman Co. will post 28.05 EPS for the current fiscal year.

Northrop Grumman declared that its Board of Directors has initiated a stock repurchase plan on Wednesday, December 11th that permits the company to buyback $3.00 billion in outstanding shares. This buyback authorization permits the aerospace company to reacquire up to 4.3% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s leadership believes its stock is undervalued.

Northrop Grumman Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, March 19th. Investors of record on Monday, March 3rd will be issued a $2.06 dividend. The ex-dividend date is Monday, March 3rd. This represents a $8.24 dividend on an annualized basis and a dividend yield of 1.68%. Northrop Grumman’s dividend payout ratio is 29.08%.

Insider Buying and Selling

In other Northrop Grumman news, VP Benjamin R. Davies sold 192 shares of the business’s stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $429.08, for a total value of $82,383.36. Following the completion of the transaction, the vice president now directly owns 709 shares of the company’s stock, valued at approximately $304,217.72. The trade was a 21.31 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Kathy J. Warden sold 3,750 shares of the stock in a transaction that occurred on Thursday, March 6th. The shares were sold at an average price of $475.65, for a total transaction of $1,783,687.50. Following the sale, the chief executive officer now directly owns 212,852 shares in the company, valued at $101,243,053.80. This trade represents a 1.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 4,505 shares of company stock worth $2,126,405 in the last 90 days. Corporate insiders own 0.22% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have issued reports on NOC. UBS Group decreased their price target on shares of Northrop Grumman from $579.00 to $558.00 and set a “buy” rating on the stock in a research report on Friday, January 31st. Wells Fargo & Company lifted their target price on Northrop Grumman from $545.00 to $547.00 and gave the stock an “overweight” rating in a research report on Friday, March 7th. StockNews.com cut Northrop Grumman from a “strong-buy” rating to a “buy” rating in a report on Monday, February 3rd. Wolfe Research raised Northrop Grumman from an “underperform” rating to a “peer perform” rating in a report on Monday, February 3rd. Finally, Argus upgraded Northrop Grumman to a “strong-buy” rating in a research note on Wednesday, February 26th. Nine analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $542.88.

About Northrop Grumman

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.