Northrop Grumman Corp. (NYSE:NOC) VP Christopher T. Jones sold 240 shares of the business’s stock in a transaction that occurred on Monday, October 3rd. The stock was sold at an average price of $213.00, for a total value of $51,120.00. Following the completion of the transaction, the vice president now owns 47,540 shares in the company, valued at approximately $10,126,020. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.
Northrop Grumman Corp. (NYSE:NOC) opened at 216.62 on Tuesday. The stock has a 50 day moving average of $213.55 and a 200 day moving average of $213.11. The company has a market cap of $38.68 billion, a PE ratio of 19.49 and a beta of 0.72. Northrop Grumman Corp. has a 12-month low of $172.40 and a 12-month high of $224.12.
Northrop Grumman Corp. (NYSE:NOC) last posted its earnings results on Wednesday, July 27th. The company reported $2.85 EPS for the quarter, topping analysts’ consensus estimates of $2.53 by $0.32. Northrop Grumman Corp. had a net margin of 8.67% and a return on equity of 32.59%. The business earned $6 billion during the quarter, compared to the consensus estimate of $5.99 billion. During the same quarter in the previous year, the firm posted $2.54 EPS. The firm’s revenue was up 1.8% on a year-over-year basis. Equities analysts expect that Northrop Grumman Corp. will post $11.04 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 14th. Stockholders of record on Monday, August 29th were paid a dividend of $0.90 per share. This represents a $3.60 annualized dividend and a dividend yield of 1.66%. The ex-dividend date of this dividend was Thursday, August 25th. Northrop Grumman Corp.’s dividend payout ratio is presently 32.37%.
A number of equities analysts have recently weighed in on NOC shares. JPMorgan Chase & Co. downgraded Northrop Grumman Corp. from an “overweight” rating to a “neutral” rating and boosted their target price for the stock from $225.00 to $231.00 in a research note on Thursday, August 25th. Citigroup Inc. boosted their target price on Northrop Grumman Corp. from $235.00 to $243.00 and gave the stock a “buy” rating in a research note on Tuesday, September 6th. Zacks Investment Research upgraded Northrop Grumman Corp. from a “hold” rating to a “buy” rating and set a $248.00 target price on the stock in a research note on Monday, July 4th. Jefferies Group boosted their target price on Northrop Grumman Corp. from $233.00 to $250.00 and gave the stock a “buy” rating in a research note on Thursday, July 28th. Finally, Robert W. Baird started coverage on Northrop Grumman Corp. in a research note on Wednesday, October 5th. They issued an “outperform” rating and a $260.00 target price on the stock. Nine investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $223.97.
Several hedge funds and other institutional investors have recently modified their holdings of NOC. Advisory Services Network LLC boosted its position in shares of Northrop Grumman Corp. by 38.3% in the third quarter. Advisory Services Network LLC now owns 2,402 shares of the company’s stock valued at $514,000 after buying an additional 665 shares in the last quarter. Central Bank & Trust Co. boosted its position in shares of Northrop Grumman Corp. by 2.7% in the third quarter. Central Bank & Trust Co. now owns 843 shares of the company’s stock valued at $180,000 after buying an additional 22 shares in the last quarter. New England Research & Management Inc. acquired a new position in shares of Northrop Grumman Corp. during the third quarter valued at $440,000. Fulton Bank N.A. acquired a new position in shares of Northrop Grumman Corp. during the third quarter valued at $587,000. Finally, Eqis Capital Management Inc. boosted its position in shares of Northrop Grumman Corp. by 62.8% in the third quarter. Eqis Capital Management Inc. now owns 1,832 shares of the company’s stock valued at $392,000 after buying an additional 707 shares in the last quarter. Institutional investors and hedge funds own 82.52% of the company’s stock.
Northrop Grumman Corp. Company Profile
Northrop Grumman Corporation (Northrop Grumman) is a global security company. The Company provides systems, products and solutions in unmanned systems; cyber; command, control, communications and computers (C4), intelligence, surveillance, and reconnaissance (C4ISR); strike aircraft, and logistics and modernization to Government and commercial customers across the world.
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