Northrop Grumman Co. (NYSE:NOC - Get Free Report) Director Mark A. Welsh III sold 33 shares of Northrop Grumman stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $510.10, for a total transaction of $16,833.30. Following the transaction, the director now owns 4,188 shares of the company's stock, valued at $2,136,298.80. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.
Northrop Grumman Stock Up 2.0 %
NOC stock opened at $523.14 on Thursday. The business's 50-day moving average is $523.63 and its two-hundred day moving average is $484.30. The company has a market cap of $76.22 billion, a price-to-earnings ratio of 32.41, a P/E/G ratio of 1.02 and a beta of 0.35. Northrop Grumman Co. has a fifty-two week low of $418.60 and a fifty-two week high of $555.57. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.97 and a current ratio of 1.09.
Northrop Grumman (NYSE:NOC - Get Free Report) last announced its earnings results on Thursday, October 24th. The aerospace company reported $7.00 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.07 by $0.93. Northrop Grumman had a net margin of 5.79% and a return on equity of 26.57%. The company had revenue of $10 billion during the quarter, compared to analyst estimates of $10.18 billion. During the same period in the previous year, the business posted $6.18 earnings per share. The firm's quarterly revenue was up 2.3% compared to the same quarter last year. As a group, analysts forecast that Northrop Grumman Co. will post 25.95 earnings per share for the current year.
Northrop Grumman Announces Dividend
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The business 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. This represents a $8.24 dividend on an annualized basis and a yield of 1.58%. The ex-dividend date of this dividend was Tuesday, September 3rd. Northrop Grumman's payout ratio is 51.05%.
Institutional Inflows and Outflows
A number of large investors have recently made changes to their positions in NOC. Optimum Investment Advisors increased its stake in Northrop Grumman by 241.2% in the 2nd quarter. Optimum Investment Advisors now owns 58 shares of the aerospace company's stock worth $25,000 after buying an additional 41 shares in the last quarter. Bank & Trust Co purchased a new stake in shares of Northrop Grumman during the second quarter worth about $28,000. Meeder Asset Management Inc. raised its stake in Northrop Grumman by 245.5% during the 2nd quarter. Meeder Asset Management Inc. now owns 76 shares of the aerospace company's stock valued at $33,000 after purchasing an additional 54 shares during the period. Catalyst Capital Advisors LLC purchased a new position in Northrop Grumman in the 3rd quarter worth approximately $40,000. Finally, Larson Financial Group LLC boosted its stake in Northrop Grumman by 281.5% in the 1st quarter. Larson Financial Group LLC now owns 103 shares of the aerospace company's stock worth $49,000 after purchasing an additional 76 shares during the period. 83.40% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
A number of brokerages have issued reports on NOC. Morgan Stanley lifted their price objective on Northrop Grumman from $579.00 to $592.00 and gave the company an "overweight" rating in a research note on Friday, August 9th. UBS Group lifted their price target on Northrop Grumman from $614.00 to $643.00 and gave the stock a "buy" rating in a research report on Friday, October 25th. StockNews.com raised shares of Northrop Grumman from a "hold" rating to a "buy" rating in a research report on Friday, July 12th. JPMorgan Chase & Co. lifted their target price on shares of Northrop Grumman from $500.00 to $560.00 and gave the stock a "neutral" rating in a report on Monday, October 14th. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of Northrop Grumman from a "hold" rating to a "buy" rating and increased their price target for the company from $474.00 to $575.00 in a report on Monday, July 29th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, Northrop Grumman currently has a consensus rating of "Hold" and a consensus price target of $550.56.
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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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