Northrop Grumman Corp. (NYSE:NOC) CFO Kenneth L. Bedingfield sold 125 shares of Northrop Grumman Corp. stock in a transaction dated Monday, October 3rd. The stock was sold at an average price of $213.00, for a total transaction of $26,625.00. Following the sale, the chief financial officer now owns 18,501 shares of the company’s stock, valued at $3,940,713. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.
Northrop Grumman Corp. (NYSE:NOC) opened at 216.62 on Tuesday. Northrop Grumman Corp. has a 52-week low of $172.40 and a 52-week high of $224.12. The firm has a market capitalization of $38.68 billion, a PE ratio of 19.49 and a beta of 0.72. The stock’s 50 day moving average is $213.55 and its 200-day moving average is $213.11.
Northrop Grumman Corp. (NYSE:NOC) last posted its quarterly earnings data on Wednesday, July 27th. The company reported $2.85 EPS for the quarter, beating 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 company earned $6 billion during the quarter, compared to analyst estimates of $5.99 billion. During the same period in the prior year, the firm earned $2.54 earnings per share. The business’s quarterly 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 announced a quarterly dividend, which was paid on Wednesday, September 14th. Stockholders of record on Monday, August 29th were issued a $0.90 dividend. The ex-dividend date of this dividend was Thursday, August 25th. This represents a $3.60 dividend on an annualized basis and a dividend yield of 1.66%. Northrop Grumman Corp.’s dividend payout ratio is 32.37%.
A number of equities research analysts have recently commented on NOC shares. JPMorgan Chase & Co. downgraded shares of Northrop Grumman Corp. from an “overweight” rating to a “neutral” rating and lifted their price target for the stock from $225.00 to $231.00 in a report on Thursday, August 25th. Citigroup Inc. lifted their price target on shares of Northrop Grumman Corp. from $235.00 to $243.00 and gave the stock a “buy” rating in a report on Tuesday, September 6th. Zacks Investment Research upgraded shares of Northrop Grumman Corp. from a “hold” rating to a “buy” rating and set a $248.00 price target for the company in a report on Monday, July 4th. Jefferies Group boosted their target price on shares of Northrop Grumman Corp. from $233.00 to $250.00 and gave the company a “buy” rating in a report on Thursday, July 28th. Finally, Robert W. Baird assumed coverage on shares of Northrop Grumman Corp. in a report on Wednesday, October 5th. They issued an “outperform” rating and a $260.00 target price for the company. Nine analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Northrop Grumman Corp. has an average rating of “Buy” and an average target price of $223.97.
Several institutional investors have recently modified their holdings of NOC. Quadrant Capital Group LLC increased its position in shares of Northrop Grumman Corp. by 13.9% in the second quarter. Quadrant Capital Group LLC now owns 501 shares of the company’s stock worth $106,000 after buying an additional 61 shares in the last quarter. Dubuque Bank & Trust Co. increased its position in shares of Northrop Grumman Corp. by 446.7% in the second quarter. Dubuque Bank & Trust Co. now owns 492 shares of the company’s stock worth $109,000 after buying an additional 402 shares in the last quarter. Thompson Davis & CO. Inc. increased its position in shares of Northrop Grumman Corp. by 1.5% in the second quarter. Thompson Davis & CO. Inc. now owns 533 shares of the company’s stock worth $118,000 after buying an additional 8 shares in the last quarter. Oakworth Capital Inc. increased its position in shares of Northrop Grumman Corp. by 8.6% in the second quarter. Oakworth Capital Inc. now owns 632 shares of the company’s stock worth $134,000 after buying an additional 50 shares in the last quarter. Finally, Pinkerton Retirement Specialists LLC acquired a new position in shares of Northrop Grumman Corp. during the second quarter worth $142,000. Institutional investors 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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