Chartwell Investment Partners LLC lowered its stake in shares of Northrop Grumman Co. (NYSE:NOC) by 40.8% during the third quarter, HoldingsChannel reports. The firm owned 7,385 shares of the aerospace company’s stock after selling 5,089 shares during the quarter. Chartwell Investment Partners LLC’s holdings in Northrop Grumman were worth $2,344,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in the company. St. Johns Investment Management Company LLC raised its stake in shares of Northrop Grumman by 5.1% during the 3rd quarter. St. Johns Investment Management Company LLC now owns 3,395 shares of the aerospace company’s stock worth $1,077,000 after purchasing an additional 166 shares in the last quarter. Torch Wealth Management LLC raised its stake in shares of Northrop Grumman by 3.7% during the 2nd quarter. Torch Wealth Management LLC now owns 4,862 shares of the aerospace company’s stock worth $1,496,000 after purchasing an additional 175 shares in the last quarter. Advisor Partners LLC raised its stake in shares of Northrop Grumman by 3.7% during the 3rd quarter. Advisor Partners LLC now owns 5,353 shares of the aerospace company’s stock worth $1,699,000 after purchasing an additional 189 shares in the last quarter. Sun Life Financial INC raised its stake in shares of Northrop Grumman by 71.0% during the 2nd quarter. Sun Life Financial INC now owns 472 shares of the aerospace company’s stock worth $145,000 after purchasing an additional 196 shares in the last quarter. Finally, Harwood Advisory Group LLC raised its stake in shares of Northrop Grumman by 24.2% during the 2nd quarter. Harwood Advisory Group LLC now owns 1,027 shares of the aerospace company’s stock worth $317,000 after purchasing an additional 200 shares in the last quarter. Institutional investors own 79.67% of the company’s stock.

NOC opened at $266.81 on Wednesday. Northrop Grumman Co. has a 1-year low of $251.66 and a 1-year high of $360.88. The company has a current ratio of 1.26, a quick ratio of 1.17 and a debt-to-equity ratio of 1.53. The firm has a market capitalization of $47.34 billion, a P/E ratio of 20.09, a price-to-earnings-growth ratio of 1.03 and a beta of 0.83.

Northrop Grumman (NYSE:NOC) last posted its quarterly earnings results on Wednesday, October 24th. The aerospace company reported $6.54 earnings per share for the quarter, beating analysts’ consensus estimates of $4.35 by $2.19. The business had revenue of $8.09 billion for the quarter, compared to analysts’ expectations of $7.99 billion. Northrop Grumman had a return on equity of 38.27% and a net margin of 9.62%. The firm’s revenue for the quarter was up 23.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $3.67 EPS. As a group, equities analysts expect that Northrop Grumman Co. will post 19.04 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 19th. Shareholders of record on Monday, December 3rd will be given a dividend of $1.20 per share. This represents a $4.80 annualized dividend and a yield of 1.80%. The ex-dividend date of this dividend is Friday, November 30th. Northrop Grumman’s payout ratio is 36.14%.

NOC has been the topic of a number of research analyst reports. Stifel Nicolaus restated a “hold” rating and issued a $300.00 price target on shares of Northrop Grumman in a research note on Thursday, July 26th. Goldman Sachs Group dropped their price target on Northrop Grumman to $414.00 and set a “conviction-buy” rating on the stock in a research note on Thursday, July 26th. Credit Suisse Group dropped their price target on Northrop Grumman from $341.00 to $326.00 and set a “neutral” rating on the stock in a research note on Friday, July 27th. Buckingham Research upgraded Northrop Grumman from a “neutral” rating to a “buy” rating and increased their price target for the company from $246.00 to $371.00 in a research note on Tuesday, July 31st. They noted that the move was a valuation call. Finally, JPMorgan Chase & Co. dropped their price target on Northrop Grumman from $375.00 to $360.00 and set an “overweight” rating on the stock in a research note on Friday, July 27th. Eight equities research 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 company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $353.65.

In other Northrop Grumman news, Chairman Wesley G. Bush sold 10,000 shares of the stock in a transaction on Friday, November 2nd. The stock was sold at an average price of $274.73, for a total transaction of $2,747,300.00. Following the transaction, the chairman now owns 9,600 shares in the company, valued at approximately $2,637,408. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Mark A. Caylor sold 4,543 shares of the stock in a transaction on Thursday, August 30th. The stock was sold at an average price of $297.45, for a total value of $1,351,315.35. Following the transaction, the vice president now owns 24,592 shares in the company, valued at approximately $7,314,890.40. The disclosure for this sale can be found here. Insiders have sold a total of 37,715 shares of company stock worth $11,192,664 in the last quarter. Company insiders own 0.62% of the company’s stock.

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Northrop Grumman Company Profile

Northrop Grumman Corporation operates as a security company for government and commercial customers worldwide. It provides products, systems, and solutions in autonomous systems; cyber; command, control, communications and computers, intelligence, surveillance, and reconnaissance (C4ISR); strike; and logistics and modernization.

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

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