Chevy Chase Trust Holdings LLC Cuts Stock Position in Northrop Grumman Co. (NYSE:NOC)

Chevy Chase Trust Holdings LLC decreased its position in shares of Northrop Grumman Co. (NYSE:NOC) by 2.9% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 73,899 shares of the aerospace company’s stock after selling 2,244 shares during the period. Chevy Chase Trust Holdings LLC owned about 0.05% of Northrop Grumman worth $39,024,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Optimum Investment Advisors boosted its stake in shares of Northrop Grumman by 241.2% in the second quarter. Optimum Investment Advisors now owns 58 shares of the aerospace company’s stock valued at $25,000 after purchasing an additional 41 shares during the period. RPg Family Wealth Advisory LLC acquired a new stake in Northrop Grumman during the 3rd quarter worth approximately $31,000. Meeder Asset Management Inc. boosted its position in Northrop Grumman by 245.5% in the 2nd quarter. Meeder Asset Management Inc. now owns 76 shares of the aerospace company’s stock valued at $33,000 after buying an additional 54 shares during the period. FSA Wealth Management LLC acquired a new position in shares of Northrop Grumman in the third quarter worth $36,000. Finally, Catalyst Capital Advisors LLC purchased a new stake in shares of Northrop Grumman during the third quarter worth $40,000. 83.40% of the stock is currently owned by hedge funds and other institutional investors.

Northrop Grumman Stock Performance

Shares of NOC stock opened at $484.64 on Tuesday. The stock’s 50-day moving average is $517.20 and its two-hundred day moving average is $487.46. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.97 and a current ratio of 1.09. Northrop Grumman Co. has a 1 year low of $418.60 and a 1 year high of $555.57. The firm has a market cap of $70.61 billion, a price-to-earnings ratio of 30.03, a PEG ratio of 0.99 and a beta of 0.33.

Northrop Grumman (NYSE:NOC) last released its quarterly earnings results on Thursday, October 24th. The aerospace company reported $7.00 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $6.07 by $0.93. The firm had revenue of $10 billion for the quarter, compared to the consensus estimate of $10.18 billion. Northrop Grumman had a return on equity of 26.57% and a net margin of 5.79%. The firm’s quarterly revenue was up 2.3% compared to the same quarter last year. During the same quarter last year, the business posted $6.18 EPS. Analysts predict that Northrop Grumman Co. will post 25.93 earnings per share for the current year.

Northrop Grumman Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 18th. Investors of record on Monday, December 2nd will be paid a dividend of $2.06 per share. This represents a $8.24 dividend on an annualized basis and a yield of 1.70%. The ex-dividend date is Monday, December 2nd. Northrop Grumman’s dividend payout ratio is currently 51.05%.

Insiders Place Their Bets

In other Northrop Grumman news, VP Benjamin R. Davies sold 1,156 shares of the stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $532.93, for a total transaction of $616,067.08. Following the completion of the sale, the vice president now directly owns 537 shares of the company’s stock, valued at approximately $286,183.41. This trade represents a 68.28 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In the last three months, insiders have sold 1,255 shares of company stock valued at $667,727. Insiders own 0.22% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the company. Royal Bank of Canada lifted their target price on Northrop Grumman from $500.00 to $540.00 and gave the company a “sector perform” rating in a report on Friday, October 25th. Alembic Global Advisors downgraded Northrop Grumman from an “overweight” rating to a “neutral” rating and set a $560.00 price objective for the company. in a research report on Tuesday, August 27th. UBS Group raised their target price on shares of Northrop Grumman from $614.00 to $643.00 and gave the company a “buy” rating in a report on Friday, October 25th. Susquehanna boosted their price target on shares of Northrop Grumman from $560.00 to $625.00 and gave the stock a “positive” rating in a report on Friday, October 25th. Finally, Morgan Stanley raised their price objective on shares of Northrop Grumman from $579.00 to $592.00 and gave the company an “overweight” rating in a report on Friday, August 9th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $550.56.

Northrop Grumman Profile

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.