Northrop Grumman Co. (NYSE:NOC) VP Sheila C. Cheston sold 10,440 shares of the stock in a transaction dated Wednesday, October 3rd. The stock was sold at an average price of $320.00, for a total value of $3,340,800.00. Following the completion of the sale, the vice president now directly owns 43,696 shares of the company’s stock, valued at $13,982,720. The sale was disclosed in a filing with the SEC, which is available at this link.
Shares of Northrop Grumman stock opened at $320.34 on Monday. Northrop Grumman Co. has a 1 year low of $287.09 and a 1 year high of $360.88. The company has a debt-to-equity ratio of 1.75, a current ratio of 1.24 and a quick ratio of 1.15. The stock has a market capitalization of $55.26 billion, a P/E ratio of 24.12, a price-to-earnings-growth ratio of 1.68 and a beta of 0.67.
Northrop Grumman (NYSE:NOC) last posted its quarterly earnings results on Wednesday, July 25th. The aerospace company reported $3.93 earnings per share for the quarter, topping the Zacks’ consensus estimate of $3.84 by $0.09. Northrop Grumman had a return on equity of 34.88% and a net margin of 8.33%. The company had revenue of $7.12 billion during the quarter, compared to the consensus estimate of $7.10 billion. During the same period last year, the business earned $3.16 EPS. The business’s quarterly revenue was up 10.0% on a year-over-year basis. On average, research analysts forecast that Northrop Grumman Co. will post 16.84 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Wednesday, September 12th. Stockholders of record on Monday, August 27th were paid a dividend of $1.20 per share. This represents a $4.80 dividend on an annualized basis and a dividend yield of 1.50%. The ex-dividend date was Friday, August 24th. Northrop Grumman’s dividend payout ratio (DPR) is presently 36.14%.
Several institutional investors and hedge funds have recently bought and sold shares of NOC. Federated Investors Inc. PA raised its stake in shares of Northrop Grumman by 7.0% during the 1st quarter. Federated Investors Inc. PA now owns 2,889 shares of the aerospace company’s stock worth $1,009,000 after purchasing an additional 189 shares in the last quarter. Principal Financial Group Inc. raised its stake in shares of Northrop Grumman by 7.7% during the 1st quarter. Principal Financial Group Inc. now owns 434,842 shares of the aerospace company’s stock worth $151,813,000 after purchasing an additional 31,029 shares in the last quarter. Nomura Asset Management Co. Ltd. raised its stake in shares of Northrop Grumman by 4.0% during the 1st quarter. Nomura Asset Management Co. Ltd. now owns 23,887 shares of the aerospace company’s stock worth $8,339,000 after purchasing an additional 927 shares in the last quarter. Baird Financial Group Inc. raised its stake in shares of Northrop Grumman by 4.3% during the 1st quarter. Baird Financial Group Inc. now owns 26,345 shares of the aerospace company’s stock worth $9,197,000 after purchasing an additional 1,090 shares in the last quarter. Finally, Commonwealth Equity Services LLC raised its stake in shares of Northrop Grumman by 3.1% during the 1st quarter. Commonwealth Equity Services LLC now owns 40,285 shares of the aerospace company’s stock worth $14,064,000 after purchasing an additional 1,204 shares in the last quarter. 81.48% of the stock is owned by institutional investors.
Several brokerages recently issued reports on NOC. Credit Suisse Group increased their price objective on Northrop Grumman from $326.00 to $341.00 and gave the stock a “neutral” rating in a research note on Wednesday, June 27th. Stifel Nicolaus reissued a “hold” rating and issued a $300.00 price objective on shares of Northrop Grumman in a research note on Thursday, July 26th. Goldman Sachs Group reduced their price objective on Northrop Grumman to $414.00 and set a “conviction-buy” rating for the company in a research note on Thursday, July 26th. Zacks Investment Research raised Northrop Grumman from a “hold” rating to a “buy” rating and set a $379.00 price objective for the company in a research note on Monday, June 11th. Finally, Buckingham Research raised Northrop Grumman from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $246.00 to $371.00 in a research note on Tuesday, July 31st. They noted that the move was a valuation call. Eight investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $368.24.
About Northrop Grumman
Northrop Grumman Corporation operates as a security company for government and commercial customers worldwide. It provides products, systems, and solutions in autonomous systems; cyber; command, control, communications and computers, intelligence, surveillance, and reconnaissance (C4ISR); strike; and logistics and modernization.
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