Chesapeake Capital Corp IL Cuts Stock Holdings in Northrop Grumman Co. (NYSE:NOC)

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

Other hedge funds also recently modified their holdings of the company. RPg Family Wealth Advisory LLC purchased a new position in shares of Northrop Grumman during the third quarter valued at approximately $31,000. Whipplewood Advisors LLC purchased a new position in shares of Northrop Grumman during the fourth quarter valued at approximately $31,000. FSA Wealth Management LLC purchased a new position in shares of Northrop Grumman during the third quarter valued at approximately $36,000. Albion Financial Group UT purchased a new position in shares of Northrop Grumman during the fourth quarter valued at approximately $33,000. Finally, Modus Advisors LLC purchased a new position in shares of Northrop Grumman during the fourth quarter valued at approximately $38,000. Hedge funds and other institutional investors own 83.40% of the company’s stock.

Insider Activity at Northrop Grumman

In related news, VP Benjamin R. Davies sold 464 shares of the business’s stock in a transaction dated Friday, February 28th. The stock was sold at an average price of $460.75, for a total transaction of $213,788.00. Following the completion of the transaction, the vice president now directly owns 245 shares in the company, valued at $112,883.75. The trade was a 65.44 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Kathy J. Warden sold 3,750 shares of the business’s stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $475.65, for a total value of $1,783,687.50. Following the transaction, the chief executive officer now owns 212,852 shares of the company’s stock, valued at approximately $101,243,053.80. The trade was a 1.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 4,505 shares of company stock worth $2,126,405. 0.22% of the stock is owned by company insiders.

Northrop Grumman Stock Performance

NYSE:NOC opened at $489.64 on Wednesday. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.91 and a current ratio of 1.01. Northrop Grumman Co. has a 52-week low of $418.60 and a 52-week high of $555.57. The firm has a market cap of $70.88 billion, a price-to-earnings ratio of 17.28, a PEG ratio of 3.73 and a beta of 0.31. The business’s fifty day moving average is $473.40 and its 200 day moving average is $493.79.

Northrop Grumman (NYSE:NOC) last released its quarterly earnings data on Thursday, January 30th. The aerospace company reported $6.39 earnings per share (EPS) for the quarter, beating 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%. Research analysts predict that Northrop Grumman Co. will post 28.05 EPS for the current year.

Northrop Grumman declared that its board has approved a stock buyback program on Wednesday, December 11th that allows the company to buyback $3.00 billion in shares. This buyback authorization allows the aerospace company to purchase up to 4.3% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s leadership believes its shares are undervalued.

Northrop Grumman Announces Dividend

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

Analysts Set New Price Targets

Several research analysts have weighed in on the company. StockNews.com cut Northrop Grumman from a “strong-buy” rating to a “buy” rating in a research report on Monday, February 3rd. Susquehanna cut their price objective on Northrop Grumman from $625.00 to $557.00 and set a “positive” rating on the stock in a research report on Wednesday, January 8th. Truist Financial assumed coverage on Northrop Grumman in a research report on Tuesday, January 14th. They issued a “buy” rating and a $544.00 price objective on the stock. Wolfe Research raised Northrop Grumman from an “underperform” rating to a “peer perform” rating in a research report on Monday, February 3rd. Finally, Barclays cut their price objective on Northrop Grumman from $550.00 to $500.00 and set an “equal weight” rating on the stock in a research report on Monday, January 6th. Nine analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $542.88.

Northrop Grumman Company 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.