16,110 Shares in Northrop Grumman Corporation $NOC Bought by iA Global Asset Management Inc.

iA Global Asset Management Inc. acquired a new stake in Northrop Grumman Corporation (NYSE:NOC) during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm acquired 16,110 shares of the aerospace company’s stock, valued at approximately $9,816,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of NOC. Quadrant Private Wealth Management LLC acquired a new stake in shares of Northrop Grumman in the 3rd quarter valued at approximately $256,000. Leelyn Smith LLC acquired a new position in Northrop Grumman during the 3rd quarter worth approximately $356,000. CVA Family Office LLC lifted its stake in Northrop Grumman by 9.7% in the 3rd quarter. CVA Family Office LLC now owns 226 shares of the aerospace company’s stock valued at $138,000 after purchasing an additional 20 shares during the last quarter. CNB Bank boosted its position in Northrop Grumman by 1.6% in the third quarter. CNB Bank now owns 2,561 shares of the aerospace company’s stock valued at $1,560,000 after buying an additional 40 shares in the last quarter. Finally, Stock Yards Bank & Trust Co. grew its stake in shares of Northrop Grumman by 3.9% during the third quarter. Stock Yards Bank & Trust Co. now owns 1,040 shares of the aerospace company’s stock worth $634,000 after buying an additional 39 shares during the last quarter. Institutional investors own 83.40% of the company’s stock.

Insiders Place Their Bets

In other Northrop Grumman news, Director Mark A. Welsh III sold 97 shares of the stock in a transaction dated Monday, November 24th. The stock was sold at an average price of $564.08, for a total transaction of $54,715.76. Following the completion of the sale, the director directly owned 4,281 shares in the company, valued at approximately $2,414,826.48. This trade represents a 2.22% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Kathy J. Warden sold 7,000 shares of the business’s stock in a transaction dated Monday, January 5th. The shares were sold at an average price of $600.00, for a total value of $4,200,000.00. Following the completion of the transaction, the chief executive officer directly owned 194,602 shares in the company, valued at $116,761,200. This represents a 3.47% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 10,097 shares of company stock valued at $6,099,716 in the last three months. 0.23% of the stock is owned by insiders.

Northrop Grumman Price Performance

Northrop Grumman stock opened at $672.67 on Friday. The stock’s 50 day moving average is $587.92 and its 200 day moving average is $582.49. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.11 and a quick ratio of 0.98. The firm has a market cap of $96.00 billion, a P/E ratio of 24.20, a P/E/G ratio of 5.44 and a beta of 0.05. Northrop Grumman Corporation has a one year low of $426.24 and a one year high of $677.30.

Northrop Grumman (NYSE:NOC) last released its earnings results on Tuesday, October 21st. The aerospace company reported $7.67 earnings per share for the quarter, beating analysts’ consensus estimates of $6.43 by $1.24. Northrop Grumman had a net margin of 9.82% and a return on equity of 25.49%. The business had revenue of $10.42 billion during the quarter, compared to the consensus estimate of $10.68 billion. During the same quarter in the prior year, the firm posted $7.00 EPS. The company’s revenue for the quarter was up 4.3% compared to the same quarter last year. As a group, research analysts expect that Northrop Grumman Corporation will post 28.05 EPS for the current year.

Northrop Grumman Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, December 17th. Stockholders of record on Monday, December 1st were given a dividend of $2.31 per share. The ex-dividend date was Monday, December 1st. This represents a $9.24 annualized dividend and a dividend yield of 1.4%. Northrop Grumman’s dividend payout ratio is 33.24%.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on NOC shares. BTIG Research increased their price target on Northrop Grumman from $630.00 to $680.00 and gave the company a “buy” rating in a research note on Wednesday, October 22nd. Truist Financial reiterated a “hold” rating and issued a $623.00 target price (down from $688.00) on shares of Northrop Grumman in a research report on Friday, January 9th. Citigroup lifted their price target on Northrop Grumman from $654.00 to $715.00 and gave the company a “buy” rating in a research note on Tuesday, January 13th. Susquehanna reaffirmed a “positive” rating and issued a $752.00 price objective on shares of Northrop Grumman in a research note on Thursday, January 15th. Finally, JPMorgan Chase & Co. lifted their target price 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 analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and seven have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $656.82.

About Northrop Grumman

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.