Baker Ellis Asset Management LLC Sells 290 Shares of Northrop Grumman Co. (NYSE:NOC)

Baker Ellis Asset Management LLC lowered its holdings in Northrop Grumman Co. (NYSE:NOC) by 2.6% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 10,856 shares of the aerospace company’s stock after selling 290 shares during the quarter. Baker Ellis Asset Management LLC’s holdings in Northrop Grumman were worth $4,235,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Pacer Advisors Inc. increased its stake in Northrop Grumman by 34.2% in the third quarter. Pacer Advisors Inc. now owns 15,977 shares of the aerospace company’s stock valued at $5,754,000 after acquiring an additional 4,074 shares during the period. Campbell Newman Asset Management Inc. increased its stake in Northrop Grumman by 0.3% in the third quarter. Campbell Newman Asset Management Inc. now owns 45,104 shares of the aerospace company’s stock valued at $16,244,000 after acquiring an additional 121 shares during the period. Fifth Third Bancorp increased its stake in Northrop Grumman by 4.6% in the third quarter. Fifth Third Bancorp now owns 37,776 shares of the aerospace company’s stock valued at $13,605,000 after acquiring an additional 1,659 shares during the period. Ritholtz Wealth Management increased its stake in Northrop Grumman by 10.6% in the third quarter. Ritholtz Wealth Management now owns 656 shares of the aerospace company’s stock valued at $236,000 after acquiring an additional 63 shares during the period. Finally, Clear Creek Financial Management LLC grew its stake in Northrop Grumman by 3.8% during the third quarter. Clear Creek Financial Management LLC now owns 874 shares of the aerospace company’s stock worth $315,000 after buying an additional 32 shares during the last quarter. 81.72% of the stock is currently owned by institutional investors and hedge funds.

In related news, Director Karl J. Krapek sold 2,800 shares of the stock in a transaction that occurred on Thursday, November 11th. The shares were sold at an average price of $357.25, for a total value of $1,000,300.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Corporate insiders own 0.25% of the company’s stock.

NOC opened at $353.98 on Friday. Northrop Grumman Co. has a one year low of $282.88 and a one year high of $408.03. The company has a debt-to-equity ratio of 1.12, a current ratio of 1.47 and a quick ratio of 1.37. The company’s 50 day simple moving average is $369.43 and its 200-day simple moving average is $366.92. The stock has a market capitalization of $56.12 billion, a P/E ratio of 12.44, a price-to-earnings-growth ratio of 1.57 and a beta of 0.83.

Northrop Grumman (NYSE:NOC) last announced its quarterly earnings data on Thursday, October 28th. The aerospace company reported $6.63 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $5.93 by $0.70. Northrop Grumman had a net margin of 12.42% and a return on equity of 39.17%. The business had revenue of $8.72 billion for the quarter, compared to analyst estimates of $8.94 billion. During the same period in the prior year, the business posted $5.89 earnings per share. Northrop Grumman’s revenue was down 4.0% compared to the same quarter last year. As a group, analysts anticipate that Northrop Grumman Co. will post 25.58 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 15th. Investors of record on Monday, November 29th will be issued a $1.57 dividend. The ex-dividend date is Friday, November 26th. This represents a $6.28 annualized dividend and a yield of 1.77%. Northrop Grumman’s dividend payout ratio is currently 22.07%.

Several brokerages have weighed in on NOC. Morgan Stanley decreased their price objective on shares of Northrop Grumman from $478.00 to $440.00 and set an “overweight” rating on the stock in a research note on Thursday, November 4th. Susquehanna decreased their price objective on shares of Northrop Grumman from $424.00 to $416.00 and set a “positive” rating on the stock in a research note on Friday, October 29th. Wolfe Research decreased their price objective on shares of Northrop Grumman from $466.00 to $437.00 and set an “outperform” rating on the stock in a research note on Friday, October 29th. Jefferies Financial Group reaffirmed a “buy” rating and set a $410.00 price objective on shares of Northrop Grumman in a research note on Monday, November 1st. Finally, Wells Fargo & Company upped their price objective on shares of Northrop Grumman from $330.00 to $335.00 and gave the stock an “underweight” rating in a research note on Monday, August 2nd. One investment analyst has rated the stock with a sell rating, four have given a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $394.15.

About Northrop Grumman

Northrop Grumman Corp. is an aerospace and defense company, which engages in the provision of security businesses. It creates and delivers platforms, systems, and solutions in autonomous systems, cyber, command, control, communications and computers, intelligence, surveillance and reconnaissance, strike, and logistics and modernization.

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

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