CIBC Private Wealth Group LLC Purchases 244 Shares of Northrop Grumman Co. (NYSE:NOC)

CIBC Private Wealth Group LLC lifted its position in Northrop Grumman Co. (NYSE:NOCFree Report) by 5.2% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 4,979 shares of the aerospace company’s stock after purchasing an additional 244 shares during the quarter. CIBC Private Wealth Group LLC’s holdings in Northrop Grumman were worth $2,331,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the company. Wesbanco Bank Inc. grew its holdings in shares of Northrop Grumman by 1.2% in the 3rd quarter. Wesbanco Bank Inc. now owns 1,782 shares of the aerospace company’s stock worth $784,000 after purchasing an additional 21 shares during the last quarter. Ausdal Financial Partners Inc. grew its holdings in shares of Northrop Grumman by 4.4% in the 4th quarter. Ausdal Financial Partners Inc. now owns 524 shares of the aerospace company’s stock worth $245,000 after purchasing an additional 22 shares during the last quarter. Secure Asset Management LLC grew its holdings in Northrop Grumman by 2.7% during the 4th quarter. Secure Asset Management LLC now owns 844 shares of the aerospace company’s stock worth $395,000 after acquiring an additional 22 shares during the last quarter. Tilia Fiduciary Partners Inc. grew its holdings in Northrop Grumman by 3.3% during the 4th quarter. Tilia Fiduciary Partners Inc. now owns 727 shares of the aerospace company’s stock worth $340,000 after acquiring an additional 23 shares during the last quarter. Finally, Gradient Investments LLC grew its holdings in Northrop Grumman by 5.1% during the 4th quarter. Gradient Investments LLC now owns 493 shares of the aerospace company’s stock worth $231,000 after acquiring an additional 24 shares during the last quarter. Institutional investors own 83.40% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on NOC shares. Royal Bank of Canada increased their price objective on shares of Northrop Grumman from $450.00 to $475.00 and gave the stock a “sector perform” rating in a report on Friday, April 26th. Alembic Global Advisors raised shares of Northrop Grumman from a “neutral” rating to an “overweight” rating and set a $532.00 price objective on the stock in a report on Monday, April 22nd. Wells Fargo & Company increased their price objective on shares of Northrop Grumman from $483.00 to $518.00 and gave the stock an “equal weight” rating in a report on Tuesday, April 30th. Robert W. Baird increased their price objective on shares of Northrop Grumman from $475.00 to $505.00 and gave the stock a “neutral” rating in a report on Friday, April 26th. Finally, StockNews.com raised shares of Northrop Grumman from a “hold” rating to a “buy” rating in a report on Friday, April 26th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, Northrop Grumman currently has an average rating of “Hold” and an average target price of $514.33.

Get Our Latest Stock Analysis on NOC

Northrop Grumman Stock Down 1.1 %

Shares of NYSE NOC opened at $440.04 on Friday. The firm has a market capitalization of $65.12 billion, a PE ratio of 30.77, a price-to-earnings-growth ratio of 2.05 and a beta of 0.35. The firm’s 50-day moving average is $464.26 and its 200-day moving average is $464.00. The company has a current ratio of 1.13, a quick ratio of 1.02 and a debt-to-equity ratio of 1.04. Northrop Grumman Co. has a 1 year low of $414.56 and a 1 year high of $496.89.

Northrop Grumman (NYSE:NOCGet Free Report) last announced its quarterly earnings results on Thursday, April 25th. The aerospace company reported $6.32 earnings per share for the quarter, beating analysts’ consensus estimates of $5.83 by $0.49. The business had revenue of $10.13 billion for the quarter, compared to the consensus estimate of $9.77 billion. Northrop Grumman had a net margin of 5.38% and a return on equity of 24.09%. Northrop Grumman’s revenue for the quarter was up 8.9% on a year-over-year basis. During the same period last year, the company posted $5.50 EPS. Equities analysts expect that Northrop Grumman Co. will post 24.7 EPS for the current year.

Northrop Grumman Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, June 12th. Investors of record on Tuesday, May 28th will be given a $2.06 dividend. This represents a $8.24 dividend on an annualized basis and a dividend yield of 1.87%. This is an increase from Northrop Grumman’s previous quarterly dividend of $1.87. The ex-dividend date of this dividend is Friday, May 24th. Northrop Grumman’s dividend payout ratio (DPR) is currently 57.62%.

Northrop Grumman Company Profile

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Northrop Grumman (NYSE:NOC)

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