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

Chevy Chase Trust Holdings LLC reduced its holdings in shares of Northrop Grumman Co. (NYSE:NOC) by 2.8% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 76,143 shares of the aerospace company’s stock after selling 2,162 shares during the quarter. Chevy Chase Trust Holdings LLC owned 0.05% of Northrop Grumman worth $33,195,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in NOC. Headlands Technologies LLC acquired a new position in Northrop Grumman during the 4th quarter valued at about $25,000. SRS Capital Advisors Inc. boosted its stake in Northrop Grumman by 960.0% during the 4th quarter. SRS Capital Advisors Inc. now owns 53 shares of the aerospace company’s stock valued at $25,000 after purchasing an additional 48 shares during the period. Optimum Investment Advisors lifted 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 buying an additional 41 shares during the period. Bank & Trust Co bought a new stake in shares of Northrop Grumman in the 2nd quarter valued at approximately $28,000. Finally, Frazier Financial Advisors LLC acquired a new stake in shares of Northrop Grumman during the fourth quarter worth approximately $29,000. Hedge funds and other institutional investors own 83.40% of the company’s stock.

Insider Buying and Selling at Northrop Grumman

In other Northrop Grumman news, VP Thomas H. Jones sold 1,390 shares of the business’s stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $500.00, for a total value of $695,000.00. Following the completion of the transaction, the vice president now owns 4,634 shares of the company’s stock, valued at approximately $2,317,000. The sale was disclosed in a legal filing with the SEC, which is available through this link. In related news, VP Thomas H. Jones sold 1,389 shares of the stock in a transaction on Friday, July 26th. The shares were sold at an average price of $477.56, for a total transaction of $663,330.84. Following the sale, the vice president now directly owns 6,755 shares of the company’s stock, valued at $3,225,917.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Thomas H. Jones sold 1,390 shares of Northrop Grumman stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $500.00, for a total transaction of $695,000.00. Following the transaction, the vice president now directly owns 4,634 shares in the company, valued at $2,317,000. The disclosure for this sale can be found here. Company insiders own 0.22% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently commented on the stock. StockNews.com upgraded shares of Northrop Grumman from a “hold” rating to a “buy” rating in a report on Friday, July 12th. Sanford C. Bernstein cut Northrop Grumman from an “outperform” rating to a “market perform” rating and set a $477.00 price target on the stock. in a report on Friday, June 21st. UBS Group increased their target price on shares of Northrop Grumman from $593.00 to $605.00 and gave the company a “buy” rating in a report on Friday, July 26th. Jefferies Financial Group decreased their price objective on Northrop Grumman from $530.00 to $500.00 and set a “hold” rating for the company in a report on Tuesday, June 18th. Finally, Royal Bank of Canada lifted their price objective on Northrop Grumman from $475.00 to $500.00 and gave the company a “sector perform” rating in a research note on Friday, July 26th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, Northrop Grumman presently has a consensus rating of “Hold” and an average price target of $521.33.

Northrop Grumman Trading Down 0.3 %

Shares of Northrop Grumman stock traded down $1.75 during trading hours on Wednesday, hitting $506.29. The company’s stock had a trading volume of 147,115 shares, compared to its average volume of 948,503. The company has a market capitalization of $74.93 billion, a PE ratio of 35.53, a price-to-earnings-growth ratio of 2.26 and a beta of 0.32. The stock has a 50 day moving average of $455.83 and a 200 day moving average of $459.48. The company has a debt-to-equity ratio of 1.03, a current ratio of 1.11 and a quick ratio of 0.99. Northrop Grumman Co. has a 12 month low of $414.56 and a 12 month high of $509.42.

Northrop Grumman (NYSE:NOC) last released its quarterly earnings data on Thursday, July 25th. The aerospace company reported $6.36 earnings per share for the quarter, beating the consensus estimate of $5.93 by $0.43. Northrop Grumman had a return on equity of 25.44% and a net margin of 5.61%. The company had revenue of $10.22 billion for the quarter, compared to the consensus estimate of $10.02 billion. During the same quarter last year, the business posted $5.34 EPS. Northrop Grumman’s revenue for the quarter was up 6.7% on a year-over-year basis. Analysts predict that Northrop Grumman Co. will post 25.18 earnings per share for the current year.

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.