Northrop Grumman Co. (NYSE:NOC - Get Free Report) Director Mark A. Welsh III sold 33 shares of the firm's stock in a transaction dated Monday, October 7th. The shares were sold at an average price of $535.60, for a total transaction of $17,674.80. Following the sale, the director now owns 4,221 shares of the company's stock, valued at approximately $2,260,767.60. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.
Northrop Grumman Trading Down 0.2 %
NYSE:NOC opened at $532.65 on Wednesday. Northrop Grumman Co. has a one year low of $418.60 and a one year high of $555.57. The business has a fifty day moving average price of $514.57 and a 200-day moving average price of $475.32. The firm has a market capitalization of $78.83 billion, a price-to-earnings ratio of 37.25, a price-to-earnings-growth ratio of 2.44 and a beta of 0.34. The company has a debt-to-equity ratio of 1.03, a current ratio of 1.11 and a quick ratio of 0.99.
Northrop Grumman (NYSE:NOC - Get Free Report) last issued its quarterly earnings results on Thursday, July 25th. The aerospace company reported $6.36 EPS for the quarter, topping analysts' consensus estimates of $5.93 by $0.43. The business had revenue of $10.22 billion during the quarter, compared to analysts' expectations of $10.02 billion. Northrop Grumman had a return on equity of 25.44% and a net margin of 5.61%. The business's quarterly revenue was up 6.7% on a year-over-year basis. During the same quarter in the prior year, the business posted $5.34 earnings per share. Sell-side analysts forecast that Northrop Grumman Co. will post 25.14 EPS for the current year.
Northrop Grumman Dividend Announcement
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The company also recently declared a quarterly dividend, which was paid on Wednesday, September 18th. Shareholders of record on Tuesday, September 3rd were given a $2.06 dividend. The ex-dividend date was Tuesday, September 3rd. This represents a $8.24 dividend on an annualized basis and a dividend yield of 1.55%. Northrop Grumman's payout ratio is currently 57.62%.
Analyst Upgrades and Downgrades
Several analysts have commented on the company. UBS Group increased their target price on Northrop Grumman from $593.00 to $605.00 and gave the company a "buy" rating in a research note on Friday, July 26th. Jefferies Financial Group decreased their target price on Northrop Grumman from $530.00 to $500.00 and set a "hold" rating for the company in a research report on Tuesday, June 18th. Sanford C. Bernstein downgraded shares of Northrop Grumman from an "outperform" rating to a "market perform" rating and set a $477.00 price target on the stock. in a report on Friday, June 21st. BTIG Research started coverage on shares of Northrop Grumman in a report on Wednesday, June 26th. They set a "buy" rating and a $565.00 price objective for the company. Finally, Alembic Global Advisors cut shares of Northrop Grumman from an "overweight" rating to a "neutral" rating and set a $560.00 target price on the stock. in a report on Tuesday, August 27th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and six have issued a buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $523.20.
View Our Latest Research Report on NOC
Institutional Trading of Northrop Grumman
Institutional investors and hedge funds have recently modified their holdings of the company. Ascent Group LLC grew its stake in Northrop Grumman by 0.5% during the second quarter. Ascent Group LLC now owns 4,337 shares of the aerospace company's stock valued at $1,891,000 after acquiring an additional 20 shares in the last quarter. Salvus Wealth Management LLC grew its position in shares of Northrop Grumman by 1.6% during the third quarter. Salvus Wealth Management LLC now owns 1,321 shares of the aerospace company's stock valued at $698,000 after purchasing an additional 21 shares in the last quarter. Turtle Creek Wealth Advisors LLC increased its holdings in shares of Northrop Grumman by 4.6% in the second quarter. Turtle Creek Wealth Advisors LLC now owns 500 shares of the aerospace company's stock worth $218,000 after purchasing an additional 22 shares during the last quarter. Oliver Lagore Vanvalin Investment Group lifted its position in shares of Northrop Grumman by 1.5% in the second quarter. Oliver Lagore Vanvalin Investment Group now owns 1,467 shares of the aerospace company's stock worth $640,000 after buying an additional 22 shares in the last quarter. Finally, Legacy Wealth Asset Management LLC boosted its stake in Northrop Grumman by 2.4% during the first quarter. Legacy Wealth Asset Management LLC now owns 965 shares of the aerospace company's stock valued at $462,000 after buying an additional 23 shares during the last quarter. 83.40% of the stock is currently owned by institutional investors.
About Northrop Grumman
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Northrop Grumman Corporation operates as an aerospace and defense technology company in the United States, Asia/Pacific, Europe, and internationally. The company's Aeronautics Systems segment designs, develops, manufactures, integrates, and sustains aircraft systems. This segment also offers unmanned autonomous aircraft systems, including high-altitude long-endurance strategic ISR systems and vertical take-off and landing tactical ISR systems; and strategic long-range strike aircraft, tactical fighter and air dominance aircraft, and airborne battle management and command and control systems.
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