Northrop Grumman Co. (NYSE:NOC) VP Michael A. Hardesty sold 1,296 shares of the stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $353.20, for a total value of $457,747.20. Following the completion of the sale, the vice president now directly owns 6,677 shares of the company’s stock, valued at approximately $2,358,316.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.
Shares of Northrop Grumman Co. (NOC) opened at $353.66 on Wednesday. Northrop Grumman Co. has a one year low of $233.20 and a one year high of $359.43. The company has a market capitalization of $61,816.77, a P/E ratio of 30.83, a P/E/G ratio of 2.55 and a beta of 0.82. The company has a debt-to-equity ratio of 2.04, a quick ratio of 2.24 and a current ratio of 2.35.
Northrop Grumman (NYSE:NOC) last released its earnings results on Thursday, January 25th. The aerospace company reported $2.82 EPS for the quarter, topping the consensus estimate of $2.75 by $0.07. Northrop Grumman had a return on equity of 37.28% and a net margin of 7.81%. The business had revenue of $6.63 billion during the quarter, compared to analysts’ expectations of $6.34 billion. During the same quarter last year, the firm posted $2.96 earnings per share. The firm’s revenue was up 3.7% on a year-over-year basis. analysts forecast that Northrop Grumman Co. will post 15.25 EPS for the current fiscal year.
NOC has been the subject of several recent research reports. Royal Bank of Canada set a $374.00 price target on Northrop Grumman and gave the company a “buy” rating in a research note on Thursday, November 16th. Goldman Sachs Group cut Northrop Grumman from a “conviction-buy” rating to a “buy” rating and set a $395.00 price target for the company. in a research note on Tuesday, February 20th. Cowen reissued a “hold” rating and issued a $310.00 price target on shares of Northrop Grumman in a research note on Wednesday, November 22nd. ValuEngine raised Northrop Grumman from a “hold” rating to a “buy” rating in a research note on Sunday, December 31st. Finally, Zacks Investment Research cut Northrop Grumman from a “buy” rating to a “hold” rating in a research note on Friday, January 26th. Five equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Northrop Grumman presently has an average rating of “Buy” and a consensus target price of $336.94.
A number of large investors have recently made changes to their positions in NOC. Fisher Asset Management LLC boosted its holdings in Northrop Grumman by 19.0% in the third quarter. Fisher Asset Management LLC now owns 1,996 shares of the aerospace company’s stock worth $574,000 after acquiring an additional 318 shares in the last quarter. BB&T Corp boosted its holdings in Northrop Grumman by 9.7% in the third quarter. BB&T Corp now owns 3,405 shares of the aerospace company’s stock worth $980,000 after acquiring an additional 300 shares in the last quarter. First Trust Advisors LP boosted its holdings in Northrop Grumman by 12.0% in the third quarter. First Trust Advisors LP now owns 124,761 shares of the aerospace company’s stock worth $35,896,000 after acquiring an additional 13,339 shares in the last quarter. Highstreet Asset Management Inc. boosted its holdings in Northrop Grumman by 101.2% in the third quarter. Highstreet Asset Management Inc. now owns 1,499 shares of the aerospace company’s stock worth $431,000 after acquiring an additional 754 shares in the last quarter. Finally, Doyle Wealth Management bought a new position in Northrop Grumman in the third quarter worth approximately $283,000. Institutional investors and hedge funds own 81.18% of the company’s stock.
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Northrop Grumman Company Profile
Northrop Grumman Corporation is a global security company. The Company provides products, systems and solutions in autonomous systems; cyber; command, control, communications and computers, intelligence, surveillance and reconnaissance (C4ISR); strike, and logistics and modernization. The Company’s segments include Aerospace Systems, Mission Systems and Technology Services.
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