Northrop Grumman Co. (NYSE:NOC - Get Free Report) Director Mark A. Welsh III sold 33 shares of the firm's stock in a transaction that occurred on Wednesday, March 5th. The stock was sold at an average price of $473.66, for a total transaction of $15,630.78. Following the sale, the director now directly owns 4,073 shares in the company, valued at approximately $1,929,217.18. The trade was a 0.80 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website.
Northrop Grumman Stock Up 0.2 %
Shares of NYSE:NOC opened at $475.13 on Friday. 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 quick ratio of 0.91, a current ratio of 1.01 and a debt-to-equity ratio of 0.96. The firm's 50-day simple moving average is $469.56 and its 200-day simple moving average is $495.32. The company has a market cap of $68.78 billion, a price-to-earnings ratio of 16.77, a PEG ratio of 3.73 and a beta of 0.35.
Northrop Grumman (NYSE:NOC - Get Free Report) last announced its quarterly earnings data on Thursday, January 30th. The aerospace company reported $6.39 earnings per share for the quarter, beating analysts' consensus estimates of $6.27 by $0.12. Northrop Grumman had a return on equity of 26.24% and a net margin of 10.17%. As a group, equities research analysts predict that Northrop Grumman Co. will post 28.05 earnings per share for the current year.
Northrop Grumman announced that its board has authorized a share repurchase program on Wednesday, December 11th that permits the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization permits the aerospace company to buy up to 4.3% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company's board of directors believes its stock is undervalued.
Northrop Grumman Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 19th. Stockholders of record on Monday, March 3rd will be given a dividend of $2.06 per share. The ex-dividend date is Monday, March 3rd. This represents a $8.24 dividend on an annualized basis and a dividend yield of 1.73%. Northrop Grumman's payout ratio is 29.08%.
Hedge Funds Weigh In On Northrop Grumman
Several hedge funds have recently bought and sold shares of the company. RPg Family Wealth Advisory LLC acquired a new stake in Northrop Grumman in the third quarter valued at $31,000. Whipplewood Advisors LLC purchased a new stake in shares of Northrop Grumman in the 4th quarter worth about $31,000. Wood Tarver Financial Group LLC acquired a new stake in Northrop Grumman in the 4th quarter valued at about $32,000. Albion Financial Group UT purchased a new position in Northrop Grumman during the 4th quarter valued at about $33,000. Finally, Bellwether Advisors LLC acquired a new position in Northrop Grumman during the fourth quarter worth about $33,000. 83.40% of the stock is owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
Several brokerages recently commented on NOC. UBS Group cut their price target on shares of Northrop Grumman from $579.00 to $558.00 and set a "buy" rating on the stock in a research note on Friday, January 31st. Truist Financial started coverage on Northrop Grumman in a report on Tuesday, January 14th. They set a "buy" rating and a $544.00 price objective on the stock. Barclays decreased their target price on Northrop Grumman from $550.00 to $500.00 and set an "equal weight" rating for the company in a research report on Monday, January 6th. StockNews.com lowered Northrop Grumman from a "strong-buy" rating to a "buy" rating in a research report on Monday, February 3rd. Finally, Wells Fargo & Company reduced their price objective on Northrop Grumman from $574.00 to $545.00 and set an "overweight" rating for the company in a research note on Wednesday, February 26th. Nine research analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $542.75.
Read Our Latest Research Report on NOC
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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