Canoe Financial LP Cuts Stake in Northrop Grumman Corporation $NOC

Canoe Financial LP lessened its holdings in shares of Northrop Grumman Corporation (NYSE:NOC) by 2.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 78,264 shares of the aerospace company’s stock after selling 2,331 shares during the quarter. Canoe Financial LP owned about 0.05% of Northrop Grumman worth $47,688,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in NOC. Parvin Asset Management LLC bought a new stake in shares of Northrop Grumman during the second quarter valued at approximately $25,000. Saudi Central Bank bought a new position in shares of Northrop Grumman during the first quarter worth $28,000. Twin Peaks Wealth Advisors LLC purchased a new position in Northrop Grumman during the second quarter valued at $31,000. NewSquare Capital LLC increased its holdings in Northrop Grumman by 75.0% in the 2nd quarter. NewSquare Capital LLC now owns 63 shares of the aerospace company’s stock valued at $31,000 after acquiring an additional 27 shares during the last quarter. Finally, Flaharty Asset Management LLC bought a new stake in Northrop Grumman in the 1st quarter valued at $36,000. 83.40% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Northrop Grumman news, Director Mark A. Welsh III sold 97 shares of the firm’s stock in a transaction dated Monday, November 24th. The shares were sold at an average price of $564.08, for a total value of $54,715.76. Following the completion of the sale, the director owned 4,281 shares of the company’s stock, valued at $2,414,826.48. This trade represents a 2.22% 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 hyperlink. 0.23% of the stock is owned by company insiders.

Northrop Grumman Price Performance

Shares of Northrop Grumman stock opened at $582.00 on Friday. The stock has a market cap of $83.06 billion, a price-to-earnings ratio of 20.94, a price-to-earnings-growth ratio of 5.01 and a beta of 0.05. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.98 and a current ratio of 1.11. The stock has a 50 day moving average price of $571.63 and a 200-day moving average price of $564.61. Northrop Grumman Corporation has a one year low of $426.24 and a one year high of $640.90.

Northrop Grumman (NYSE:NOC) last issued its quarterly earnings results on Tuesday, October 21st. The aerospace company reported $7.67 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $6.43 by $1.24. Northrop Grumman had a return on equity of 25.49% and a net margin of 9.82%.The company had revenue of $10.42 billion during the quarter, compared to the consensus estimate of $10.68 billion. During the same period last year, the company earned $7.00 earnings per share. Northrop Grumman’s revenue was up 4.3% on a year-over-year basis. Northrop Grumman has set its FY 2025 guidance at 25.650-26.050 EPS. Equities analysts expect that Northrop Grumman Corporation will post 28.05 EPS for the current year.

Northrop Grumman Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, December 17th. Investors of record on Monday, December 1st were issued a dividend of $2.31 per share. This represents a $9.24 annualized dividend and a yield of 1.6%. The ex-dividend date was Monday, December 1st. Northrop Grumman’s dividend payout ratio is presently 33.24%.

Analyst Ratings Changes

NOC has been the subject of a number of research analyst reports. BNP Paribas Exane began coverage on Northrop Grumman in a research report on Tuesday, November 18th. They set an “outperform” rating and a $710.00 price objective for the company. Deutsche Bank Aktiengesellschaft set a $700.00 price target on Northrop Grumman and gave the company a “buy” rating in a research note on Wednesday, October 8th. UBS Group lifted their price objective on Northrop Grumman to $770.00 and gave the stock a “buy” rating in a research note on Wednesday, October 22nd. Morgan Stanley reiterated an “overweight” rating and set a $714.00 target price on shares of Northrop Grumman in a research report on Tuesday, December 16th. Finally, JPMorgan Chase & Co. boosted their price target on shares of Northrop Grumman from $575.00 to $640.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 22nd. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and six have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $651.18.

Northrop Grumman 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.