Key Points
- Director Mark Welsh III sold 98 Northrop Grumman shares for $555.65 each, totaling about $54,454. The sale was made under a pre-arranged Rule 10b5-1 plan; he retained 4,314 shares.
- Northrop Grumman’s latest quarterly earnings were $7.89 per share, beating analyst expectations of $7.18. Revenue rose 6.7% year over year to $11.12 billion, slightly below estimates.
- Analysts’ consensus rating is Moderate Buy, with an average price target of $643.74; the company’s annualized dividend yield is reported at 1.8%.
Northrop Grumman Corporation (NYSE:NOC - Get Free Report) Director Mark Welsh III sold 98 shares of the business's stock in a transaction on Monday, November 2nd. The shares were sold at an average price of $555.65, for a total transaction of $54,453.70. Following the completion of the transaction, the director owned 4,314 shares in the company, valued at approximately $2,397,074.10. The trade was a 2.22% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Northrop Grumman Stock Performance
Shares of NOC opened at $550.17 on Wednesday. The company has a current ratio of 1.23, a quick ratio of 1.14 and a debt-to-equity ratio of 0.77. The firm's fifty day simple moving average is $520.59 and its two-hundred day simple moving average is $590.91. Northrop Grumman Corporation has a 12 month low of $470.06 and a 12 month high of $774.00. The stock has a market capitalization of $78.16 billion, a P/E ratio of 17.36, a price-to-earnings-growth ratio of 2.98 and a beta of -0.13.
Northrop Grumman (NYSE:NOC - Get Free Report) last posted its quarterly earnings data on Tuesday, October 20th. The aerospace company reported $7.89 earnings per share for the quarter, topping the consensus estimate of $7.18 by $0.71. The firm had revenue of $11.12 billion during the quarter, compared to analyst estimates of $11.14 billion. Northrop Grumman had a return on equity of 23.46% and a net margin of 10.37%. The business's quarterly revenue was up 6.7% on a year-over-year basis. During the same period last year, the company posted $7.67 EPS. As a group, analysts predict that Northrop Grumman Corporation will post 29.64 EPS for the current year.
Northrop Grumman Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 16th. Investors of record on Monday, August 31st were paid a dividend of $2.47 per share. The ex-dividend date of this dividend was Monday, August 31st. This represents a $9.88 annualized dividend and a yield of 1.8%. Northrop Grumman's dividend payout ratio (DPR) is currently 31.17%.
Wall Street Analysts Forecast Growth
NOC has been the topic of several recent analyst reports. Citigroup boosted their price target on Northrop Grumman from $617.00 to $667.00 and gave the company a "buy" rating in a research note on Thursday, August 13th. Rothschild & Co Redburn assumed coverage on Northrop Grumman in a report on Tuesday, October 6th. They set a "buy" rating and a $680.00 price target on the stock. Susquehanna reduced their price objective on shares of Northrop Grumman from $785.00 to $655.00 and set a "positive" rating for the company in a research report on Wednesday, July 22nd. Sanford C. Bernstein lifted their price objective on shares of Northrop Grumman from $556.00 to $590.00 and gave the company a "market perform" rating in a research note on Tuesday, October 27th. Finally, Wells Fargo & Company reiterated an "overweight" rating and issued a $620.00 price objective (down from $800.00) on shares of Northrop Grumman in a research note on Wednesday, July 8th. Fifteen equities research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Northrop Grumman has an average rating of "Moderate Buy" and an average target price of $643.74.
Get Our Latest Report on Northrop Grumman
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently added to or reduced their stakes in NOC. Whipplewood Advisors LLC lifted its holdings in shares of Northrop Grumman by 380.0% in the 1st quarter. Whipplewood Advisors LLC now owns 48 shares of the aerospace company's stock worth $33,000 after purchasing an additional 38 shares in the last quarter. Perkins Coie Trust Co acquired a new stake in Northrop Grumman in the 2nd quarter valued at $29,000. Plato Investment Management Ltd acquired a new stake in Northrop Grumman in the 2nd quarter valued at $30,000. Navigoe LLC bought a new stake in Northrop Grumman during the 2nd quarter valued at $30,000. Finally, Scarborough Advisors LLC bought a new stake in Northrop Grumman during the 1st quarter valued at $42,000. Institutional investors own 83.40% of the company's stock.
Northrop Grumman Company Profile
(
Get Free Report)
Northrop Grumman Corporation (NYSE:NOC) is a global aerospace and defense company that develops and produces systems for government and commercial customers, with the U.S. government representing its primary customer base. The company operates across aerospace, defense, space, cybersecurity and advanced technology markets.
Its products and services include military aircraft and autonomous systems, space systems and satellites, missile defense technologies, command-and-control systems, cyber solutions, sensors, communications networks and other mission-critical systems.
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