Chesapeake Capital Corp IL Has $296,000 Stock Position in Northrop Grumman Co. (NYSE:NOC)

Chesapeake Capital Corp IL cut its holdings in Northrop Grumman Co. (NYSE:NOC) by 56.2% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 630 shares of the aerospace company’s stock after selling 807 shares during the quarter. Chesapeake Capital Corp IL’s holdings in Northrop Grumman were worth $296,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of NOC. Meeder Advisory Services Inc. boosted its stake in Northrop Grumman by 0.9% in the third quarter. Meeder Advisory Services Inc. now owns 2,288 shares of the aerospace company’s stock valued at $1,208,000 after buying an additional 20 shares in the last quarter. Baron Wealth Management LLC boosted its stake in Northrop Grumman by 6.8% in the third quarter. Baron Wealth Management LLC now owns 506 shares of the aerospace company’s stock valued at $267,000 after buying an additional 32 shares in the last quarter. Pathstone Holdings LLC boosted its stake in Northrop Grumman by 11.0% in the third quarter. Pathstone Holdings LLC now owns 18,562 shares of the aerospace company’s stock valued at $9,802,000 after buying an additional 1,844 shares in the last quarter. Meeder Asset Management Inc. boosted its stake in Northrop Grumman by 4,969.7% in the third quarter. Meeder Asset Management Inc. now owns 3,853 shares of the aerospace company’s stock valued at $2,035,000 after buying an additional 3,777 shares in the last quarter. Finally, West Family Investments Inc. boosted its stake in Northrop Grumman by 8.7% in the third quarter. West Family Investments Inc. now owns 1,207 shares of the aerospace company’s stock valued at $637,000 after buying an additional 97 shares in the last quarter. 83.40% of the stock is owned by institutional investors and hedge funds.

Northrop Grumman Price Performance

Shares of NOC opened at $489.64 on Wednesday. The company has a market capitalization of $70.88 billion, a price-to-earnings ratio of 17.28, a price-to-earnings-growth ratio of 3.73 and a beta of 0.31. The business has a 50-day moving average of $473.40 and a 200-day moving average of $493.79. The company has a debt-to-equity ratio of 0.96, a current ratio of 1.01 and a quick ratio of 0.91. Northrop Grumman Co. has a 1 year low of $418.60 and a 1 year high of $555.57.

Northrop Grumman (NYSE:NOC) last issued its earnings results on Thursday, January 30th. The aerospace company reported $6.39 earnings per share for the quarter, topping analysts’ consensus estimates of $6.27 by $0.12. Northrop Grumman had a return on equity of 26.24% and a net margin of 10.17%. As a group, equities research analysts anticipate that Northrop Grumman Co. will post 28.05 earnings per share for the current year.

Northrop Grumman announced that its Board of Directors has approved a share buyback plan on Wednesday, December 11th that permits the company to repurchase $3.00 billion in shares. This repurchase authorization permits the aerospace company to buy up to 4.3% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s board believes its stock is undervalued.

Northrop Grumman Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 19th. Shareholders of record on Monday, March 3rd will be issued a $2.06 dividend. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $8.24 dividend on an annualized basis and a yield of 1.68%. Northrop Grumman’s payout ratio is currently 29.08%.

Insiders Place Their Bets

In other Northrop Grumman news, VP Benjamin R. Davies sold 192 shares of the firm’s stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $429.08, for a total value of $82,383.36. Following the completion of the sale, the vice president now owns 709 shares of the company’s stock, valued at approximately $304,217.72. This trade represents a 21.31 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Kathy J. Warden sold 3,750 shares of the firm’s stock in a transaction that occurred on Thursday, March 6th. The shares were sold at an average price of $475.65, for a total value of $1,783,687.50. Following the completion of the sale, the chief executive officer now directly owns 212,852 shares of the company’s stock, valued at $101,243,053.80. This trade represents a 1.73 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 4,505 shares of company stock worth $2,126,405. 0.22% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several research firms recently weighed in on NOC. Barclays reduced their price objective on Northrop Grumman from $550.00 to $500.00 and set an “equal weight” rating on the stock in a research note on Monday, January 6th. StockNews.com downgraded Northrop Grumman from a “strong-buy” rating to a “buy” rating in a research report on Monday, February 3rd. Wells Fargo & Company increased their target price on Northrop Grumman from $545.00 to $547.00 and gave the company an “overweight” rating in a research report on Friday, March 7th. Susquehanna dropped their target price on Northrop Grumman from $625.00 to $557.00 and set a “positive” rating for the company in a research report on Wednesday, January 8th. Finally, Argus upgraded Northrop Grumman to a “strong-buy” rating in a research report on Wednesday, February 26th. Nine research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $542.88.

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.