Chevy Chase Trust Holdings Inc. Has $36.576 Million Stake in Northrop Grumman Co. (NOC)

Chevy Chase Trust Holdings Inc. raised its position in shares of Northrop Grumman Co. (NYSE:NOC) by 2.2% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 153,788 shares of the aerospace company’s stock after buying an additional 3,252 shares during the period. Chevy Chase Trust Holdings Inc. owned about 0.09% of Northrop Grumman worth $36,576,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in NOC. MV Capital Management Inc. increased its position in shares of Northrop Grumman by 0.3% in the third quarter. MV Capital Management Inc. now owns 618 shares of the aerospace company’s stock valued at $132,000 after buying an additional 2 shares during the last quarter. Benjamin F. Edwards & Company Inc. increased its position in shares of Northrop Grumman by 0.4% in the third quarter. Benjamin F. Edwards & Company Inc. now owns 830 shares of the aerospace company’s stock valued at $178,000 after buying an additional 3 shares during the last quarter. Thompson Davis & CO. Inc. increased its position in shares of Northrop Grumman by 2.1% in the third quarter. Thompson Davis & CO. Inc. now owns 544 shares of the aerospace company’s stock valued at $116,000 after buying an additional 11 shares during the last quarter. Pegasus Partners Ltd. increased its position in shares of Northrop Grumman by 0.3% in the third quarter. Pegasus Partners Ltd. now owns 4,018 shares of the aerospace company’s stock valued at $860,000 after buying an additional 13 shares during the last quarter. Finally, Municipal Employees Retirement System of Michigan increased its position in shares of Northrop Grumman by 0.4% in the third quarter. Municipal Employees Retirement System of Michigan now owns 5,710 shares of the aerospace company’s stock valued at $1,222,000 after buying an additional 20 shares during the last quarter. Institutional investors and hedge funds own 81.81% of the company’s stock.

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

Shares of Northrop Grumman Co. (NYSE:NOC) traded up 0.62% during trading on Friday, reaching $246.38. 241,496 shares of the company were exchanged. The stock’s 50 day moving average is $240.83 and its 200 day moving average is $235.49. Northrop Grumman Co. has a 1-year low of $199.26 and a 1-year high of $253.80. The company has a market capitalization of $43.02 billion, a price-to-earnings ratio of 20.21 and a beta of 0.69.

Northrop Grumman (NYSE:NOC) last posted its quarterly earnings results on Thursday, January 26th. The aerospace company reported $2.96 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $2.49 by $0.47. The company had revenue of $6.40 billion for the quarter, compared to the consensus estimate of $5.92 billion. Northrop Grumman had a net margin of 8.98% and a return on equity of 35.74%. The firm’s revenue was up 12.3% compared to the same quarter last year. During the same quarter last year, the firm posted $2.49 EPS. Equities analysts anticipate that Northrop Grumman Co. will post $11.87 earnings per share for the current year.

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 22nd. Investors of record on Monday, March 6th were paid a $0.90 dividend. This represents a $3.60 annualized dividend and a yield of 1.47%. The ex-dividend date was Thursday, March 2nd. Northrop Grumman’s dividend payout ratio is presently 29.53%.

WARNING: “Chevy Chase Trust Holdings Inc. Has $36.576 Million Stake in Northrop Grumman Co. (NOC)” was reported by Chaffey Breeze and is owned by of Chaffey Breeze. If you are viewing this news story on another publication, it was stolen and republished in violation of United States and international trademark and copyright legislation. The correct version of this news story can be viewed at https://www.chaffeybreeze.com/2017/04/21/northrop-grumman-co-noc-shares-bought-by-chevy-chase-trust-holdings-inc-updated.html.

NOC has been the subject of several analyst reports. Zacks Investment Research raised shares of Northrop Grumman from a “hold” rating to a “buy” rating and set a $270.00 price target for the company in a report on Thursday, April 13th. Vetr raised shares of Northrop Grumman from a “hold” rating to a “buy” rating and set a $253.00 price target for the company in a report on Thursday, March 2nd. Jefferies Group LLC reissued a “hold” rating and issued a $243.00 price target on shares of Northrop Grumman in a report on Thursday, January 12th. They noted that the move was a valuation call. Citigroup Inc downgraded shares of Northrop Grumman from a “buy” rating to a “neutral” rating and cut their price target for the company from $253.80 to $185.08 in a report on Wednesday, March 1st. Finally, Wolfe Research raised shares of Northrop Grumman from a “market perform” rating to an “outperform” rating in a report on Friday, January 27th. Six analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Northrop Grumman presently has a consensus rating of “Buy” and an average target price of $247.21.

In related news, VP Christopher T. Jones sold 240 shares of the firm’s stock in a transaction dated Monday, April 3rd. The shares were sold at an average price of $237.58, for a total value of $57,019.20. Following the transaction, the vice president now owns 61,686 shares of the company’s stock, valued at approximately $14,655,359.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Kenneth L. Bedingfield sold 128 shares of the firm’s stock in a transaction dated Wednesday, February 1st. The stock was sold at an average price of $228.72, for a total transaction of $29,276.16. Following the completion of the transaction, the chief financial officer now directly owns 17,998 shares in the company, valued at approximately $4,116,502.56. The disclosure for this sale can be found here. Insiders sold a total of 815 shares of company stock worth $191,305 in the last ninety days. 0.90% of the stock is currently owned by insiders.

About Northrop Grumman

Northrop Grumman Corporation is a global security company. The Company provides products, systems and solutions in autonomous systems; cyber; command, control, communications and computers, intelligence, surveillance and reconnaissance (C4ISR); strike, and logistics and modernization. The Company’s segments include Aerospace Systems, Mission Systems and Technology Services.

5 Day Chart for NYSE:NOC

Receive News & Ratings for Northrop Grumman Co. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Northrop Grumman Co. and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply