iA Global Asset Management Inc. Invests $9.82 Million in Northrop Grumman Corporation $NOC

iA Global Asset Management Inc. acquired a new stake in Northrop Grumman Corporation (NYSE:NOC) in the 3rd quarter, Holdings Channel reports. The firm acquired 16,110 shares of the aerospace company’s stock, valued at approximately $9,816,000.

Other institutional investors also recently modified their holdings of the company. Parvin Asset Management LLC bought a new stake in Northrop Grumman in the second quarter valued at $25,000. NewSquare Capital LLC grew its stake in shares of 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 buying an additional 27 shares during the period. Twin Peaks Wealth Advisors LLC bought a new stake in Northrop Grumman in the 2nd quarter valued at about $31,000. Manning & Napier Advisors LLC acquired a new position in Northrop Grumman during the 3rd quarter worth approximately $42,000. Finally, AlphaQuest LLC boosted its holdings in Northrop Grumman by 29.2% in the second quarter. AlphaQuest LLC now owns 93 shares of the aerospace company’s stock worth $46,000 after acquiring an additional 21 shares in the last quarter. Institutional investors and hedge funds own 83.40% of the company’s stock.

Insider Activity

In other Northrop Grumman news, Director Mark A. Welsh III sold 97 shares of the 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 in the company, valued at approximately $2,414,826.48. This trade represents a 2.22% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Kathy J. Warden sold 3,000 shares of the business’s stock in a transaction that occurred on Tuesday, January 6th. The stock was sold at an average price of $615.00, for a total value of $1,845,000.00. Following the completion of the transaction, the chief executive officer owned 191,602 shares in the company, valued at $117,835,230. The trade was a 1.54% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 10,097 shares of company stock valued at $6,099,716. Company insiders own 0.23% of the company’s stock.

Analyst Upgrades and Downgrades

NOC has been the subject of several recent research reports. UBS Group boosted their price objective on Northrop Grumman from $770.00 to $777.00 and gave the company a “buy” rating in a report on Thursday, January 15th. Morgan Stanley reissued an “overweight” rating and issued a $714.00 price target on shares of Northrop Grumman in a research report on Tuesday, December 16th. Sanford C. Bernstein restated a “market perform” rating and set a $727.00 price objective on shares of Northrop Grumman in a report on Monday, January 12th. Alembic Global Advisors raised shares of Northrop Grumman from a “neutral” rating to an “overweight” rating and set a $662.00 price objective on the stock in a research note on Monday, December 15th. Finally, BNP Paribas Exane assumed coverage on shares of Northrop Grumman in a report on Tuesday, November 18th. They set an “outperform” rating and a $710.00 price objective for the company. Two research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and seven have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $656.82.

Northrop Grumman Trading Up 0.3%

NYSE NOC opened at $672.67 on Friday. The company has a current ratio of 1.11, a quick ratio of 0.98 and a debt-to-equity ratio of 0.95. The business has a fifty day simple moving average of $587.92 and a 200 day simple moving average of $582.49. Northrop Grumman Corporation has a 12 month low of $426.24 and a 12 month high of $677.30. The firm has a market capitalization of $96.00 billion, a P/E ratio of 24.20, a PEG ratio of 5.44 and a beta of 0.05.

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

Northrop Grumman Dividend Announcement

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

Northrop Grumman Company 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.