Northrop Grumman Co. (NYSE:NOC - Get Free Report) Director Mark A. Welsh III sold 33 shares of the business's stock in a transaction on Thursday, June 5th. The shares were sold at an average price of $488.50, for a total value of $16,120.50. Following the sale, the director now owns 4,376 shares in the company, valued at approximately $2,137,676. The trade was a 0.75% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.
Northrop Grumman Price Performance
NOC opened at $491.54 on Tuesday. The stock has a 50-day moving average price of $490.63 and a 200-day moving average price of $482.25. Northrop Grumman Co. has a 12-month low of $418.60 and a 12-month high of $555.57. The company has a current ratio of 1.01, a quick ratio of 0.91 and a debt-to-equity ratio of 0.96. The stock has a market capitalization of $70.75 billion, a P/E ratio of 17.34, a PEG ratio of 3.73 and a beta of 0.14.
Northrop Grumman (NYSE:NOC - Get Free Report) last posted its quarterly earnings data on Tuesday, April 22nd. The aerospace company reported $6.06 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $6.33 by ($0.27). Northrop Grumman had a return on equity of 26.24% and a net margin of 10.17%. The firm had revenue of $9.47 billion during the quarter, compared to analysts' expectations of $10.07 billion. Equities analysts predict that Northrop Grumman Co. will post 28.05 earnings per share for the current fiscal year.
Northrop Grumman Increases Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 18th. Stockholders of record on Monday, June 2nd will be issued a $2.31 dividend. This is a boost from Northrop Grumman's previous quarterly dividend of $2.06. This represents a $9.24 dividend on an annualized basis and a dividend yield of 1.88%. The ex-dividend date of this dividend is Monday, June 2nd. Northrop Grumman's dividend payout ratio is presently 36.46%.
Analysts Set New Price Targets
A number of analysts recently issued reports on NOC shares. Morgan Stanley boosted their price objective on Northrop Grumman from $580.00 to $625.00 and gave the company an "overweight" rating in a research note on Wednesday, April 16th. Argus upgraded Northrop Grumman to a "strong-buy" rating in a research note on Wednesday, February 26th. Wells Fargo & Company set a $525.00 target price on Northrop Grumman and gave the stock an "overweight" rating in a research report on Thursday, April 24th. Royal Bank of Canada reduced their target price on Northrop Grumman from $575.00 to $550.00 and set an "outperform" rating for the company in a research report on Wednesday, April 23rd. Finally, Citigroup boosted their target price on Northrop Grumman from $587.00 to $591.00 and gave the stock a "buy" rating in a research report on Monday, February 10th. Nine analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Northrop Grumman presently has a consensus rating of "Moderate Buy" and a consensus target price of $545.31.
Check Out Our Latest Research Report on NOC
Institutional Investors Weigh In On Northrop Grumman
Several institutional investors have recently bought and sold shares of NOC. IMA Advisory Services Inc. purchased a new stake in Northrop Grumman during the 1st quarter valued at about $27,000. Saudi Central Bank purchased a new stake in Northrop Grumman during the 1st quarter valued at about $28,000. Banque Cantonale Vaudoise purchased a new stake in Northrop Grumman during the 1st quarter valued at about $30,000. Whipplewood Advisors LLC purchased a new stake in Northrop Grumman during the 4th quarter valued at about $31,000. Finally, Wood Tarver Financial Group LLC purchased a new stake in Northrop Grumman during the 4th quarter valued at about $32,000. 83.40% of the stock is currently owned by hedge funds and other institutional investors.
About Northrop Grumman
(
Get Free Report)
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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