Bank of Nova Scotia Has $23.89 Million Holdings in Northrop Grumman Corporation $NOC

Bank of Nova Scotia cut its position in shares of Northrop Grumman Corporation (NYSE:NOC) by 29.7% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 47,773 shares of the aerospace company’s stock after selling 20,214 shares during the quarter. Bank of Nova Scotia’s holdings in Northrop Grumman were worth $23,885,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Coign Capital Advisors LLC boosted its stake in Northrop Grumman by 1.3% in the 2nd quarter. Coign Capital Advisors LLC now owns 1,294 shares of the aerospace company’s stock worth $647,000 after purchasing an additional 17 shares during the period. King Luther Capital Management Corp lifted its holdings in shares of Northrop Grumman by 1.5% in the second quarter. King Luther Capital Management Corp now owns 1,243 shares of the aerospace company’s stock valued at $621,000 after purchasing an additional 18 shares in the last quarter. CNB Bank boosted its position in shares of Northrop Grumman by 0.8% in the second quarter. CNB Bank now owns 2,521 shares of the aerospace company’s stock worth $1,260,000 after buying an additional 19 shares during the period. Capital Investment Advisors LLC grew its holdings in shares of Northrop Grumman by 1.0% during the second quarter. Capital Investment Advisors LLC now owns 2,049 shares of the aerospace company’s stock valued at $1,025,000 after buying an additional 20 shares in the last quarter. Finally, Tyche Wealth Partners LLC raised its position in Northrop Grumman by 2.5% during the second quarter. Tyche Wealth Partners LLC now owns 830 shares of the aerospace company’s stock valued at $415,000 after buying an additional 20 shares during the period. 83.40% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Northrop Grumman

In other Northrop Grumman news, Director Mark A. Welsh III sold 97 shares of the firm’s stock in a transaction that occurred on Monday, November 24th. The stock was sold at an average price of $564.08, for a total value of $54,715.76. Following 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 position. The transaction was disclosed in a filing with the SEC, which is available through this link. 0.23% of the stock is owned by company insiders.

Northrop Grumman Price Performance

Shares of Northrop Grumman stock opened at $550.58 on Wednesday. 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 firm has a fifty day simple moving average of $582.89 and a 200-day simple moving average of $558.32. The stock has a market capitalization of $78.58 billion, a price-to-earnings ratio of 19.81, a PEG ratio of 4.85 and a beta of 0.05. Northrop Grumman Corporation has a 1-year low of $426.24 and a 1-year high of $640.90.

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

Northrop Grumman Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 17th. Investors of record on Monday, December 1st will be paid a dividend of $2.31 per share. The ex-dividend date is Monday, December 1st. This represents a $9.24 annualized dividend and a yield of 1.7%. Northrop Grumman’s dividend payout ratio is presently 33.24%.

Analysts Set New Price Targets

A number of equities research analysts have commented on the company. Morgan Stanley raised their price objective on Northrop Grumman from $625.00 to $720.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 15th. BTIG Research raised their price target on shares of Northrop Grumman from $630.00 to $680.00 and gave the stock a “buy” rating in a report on Wednesday, October 22nd. JPMorgan Chase & Co. upped their price objective on shares of Northrop Grumman from $575.00 to $640.00 and gave the company a “neutral” rating in a research note on Wednesday, October 22nd. Deutsche Bank Aktiengesellschaft set a $700.00 target price on shares of Northrop Grumman and gave the stock a “buy” rating in a research report on Wednesday, October 8th. Finally, BNP Paribas upgraded shares of Northrop Grumman to a “strong-buy” rating in a report on Tuesday, November 18th. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and six have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $646.94.

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.