Traders Sell Shares of Northrop Grumman (NOC) on Strength (NOC)

Investors sold shares of Northrop Grumman Co. (NYSE:NOC) on strength during trading on Friday. $130.40 million flowed into the stock on the tick-up and $192.88 million flowed out of the stock on the tick-down, for a money net flow of $62.48 million out of the stock. Of all stocks tracked, Northrop Grumman had the 0th highest net out-flow for the day. Northrop Grumman traded up $6.94 for the day and closed at $345.77

Several research analysts have recently commented on the stock. Jefferies Group upgraded shares of Northrop Grumman from a “hold” rating to a “buy” rating and set a $400.00 price target on the stock in a research note on Wednesday, February 14th. Royal Bank of Canada set a $389.00 price target on shares of Northrop Grumman and gave the stock a “buy” rating in a research note on Tuesday, January 23rd. ValuEngine upgraded shares of Northrop Grumman from a “hold” rating to a “buy” rating in a research note on Thursday, March 1st. Cowen reaffirmed a “hold” rating and set a $310.00 price objective on shares of Northrop Grumman in a report on Thursday, January 25th. Finally, Argus upped their price objective on shares of Northrop Grumman to $375.00 and gave the stock a “positive” rating in a report on Monday, February 5th. Four equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $358.64.

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The company has a debt-to-equity ratio of 2.04, a current ratio of 2.35 and a quick ratio of 2.24. The firm has a market cap of $60,194.41, a price-to-earnings ratio of 30.15, a PEG ratio of 2.48 and a beta of 0.78.

Northrop Grumman (NYSE:NOC) last posted its quarterly earnings data on Thursday, January 25th. The aerospace company reported $2.82 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.75 by $0.07. Northrop Grumman had a net margin of 7.81% and a return on equity of 37.28%. The business had revenue of $6.63 billion during the quarter, compared to the consensus estimate of $6.34 billion. During the same period in the prior year, the firm earned $2.96 EPS. Northrop Grumman’s quarterly revenue was up 3.7% compared to the same quarter last year. sell-side analysts predict that Northrop Grumman Co. will post 15.25 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 21st. Shareholders of record on Monday, March 5th were issued a $1.10 dividend. The ex-dividend date was Friday, March 2nd. This is an increase from Northrop Grumman’s previous quarterly dividend of $1.00. This represents a $4.40 dividend on an annualized basis and a yield of 1.27%. Northrop Grumman’s dividend payout ratio is 38.36%.

In other Northrop Grumman news, VP Denise M. Peppard sold 2,539 shares of the stock in a transaction on Tuesday, February 13th. The shares were sold at an average price of $335.12, for a total value of $850,869.68. Following the completion of the sale, the vice president now directly owns 38,613 shares of the company’s stock, valued at approximately $12,939,988.56. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, VP Michael A. Hardesty sold 1,296 shares of the stock in a transaction on Monday, February 26th. The shares were sold at an average price of $353.20, for a total transaction 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 $2,358,316.40. The disclosure for this sale can be found here. Over the last three months, insiders sold 8,344 shares of company stock valued at $2,896,627. Insiders own 0.70% of the company’s stock.

A number of institutional investors have recently modified their holdings of NOC. Icon Wealth Partners LLC bought a new stake in Northrop Grumman in the 4th quarter valued at $100,000. Truewealth LLC bought a new stake in Northrop Grumman in the 4th quarter valued at $110,000. Ropes Wealth Advisors LLC bought a new stake in Northrop Grumman in the 3rd quarter valued at $144,000. Crewe Advisors LLC acquired a new position in shares of Northrop Grumman in the 4th quarter valued at $159,000. Finally, We Are One Seven LLC acquired a new position in shares of Northrop Grumman in the 4th quarter valued at $166,000. 80.69% of the stock is owned by hedge funds and other institutional investors.

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About Northrop Grumman

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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