Northrop Grumman (NYSE:NOC) Announces Earnings Results, Beats Estimates By $0.93 EPS

Northrop Grumman (NYSE:NOC) issued its quarterly earnings results on Thursday. The aerospace company reported $7.00 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $6.07 by $0.93, RTT News reports. Northrop Grumman had a net margin of 5.61% and a return on equity of 25.44%. The company had revenue of $10 billion during the quarter, compared to analysts’ expectations of $10.18 billion. During the same period last year, the company posted $6.18 EPS. Northrop Grumman’s revenue was up 2.3% on a year-over-year basis. Northrop Grumman updated its FY 2024 guidance to 25.650-26.050 EPS and its FY24 guidance to $25.65-26.05 EPS.

Northrop Grumman Stock Down 0.8 %

Shares of NOC stock opened at $519.35 on Friday. Northrop Grumman has a 12 month low of $418.60 and a 12 month high of $555.57. The stock has a market cap of $75.95 billion, a P/E ratio of 33.90, a P/E/G ratio of 2.38 and a beta of 0.34. The company has a current ratio of 1.11, a quick ratio of 0.99 and a debt-to-equity ratio of 1.03. The company has a 50 day simple moving average of $523.28 and a two-hundred day simple moving average of $480.60.

Northrop Grumman Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 18th. Investors of record on Tuesday, September 3rd were given a dividend of $2.06 per share. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $8.24 dividend on an annualized basis and a yield of 1.59%. Northrop Grumman’s dividend payout ratio (DPR) is 53.79%.

Insider Buying and Selling at Northrop Grumman

In other Northrop Grumman news, VP Thomas H. Jones sold 1,390 shares of the company’s stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $500.00, for a total transaction of $695,000.00. Following the completion of the sale, the vice president now directly owns 4,634 shares of the company’s stock, valued at approximately $2,317,000. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Over the last ninety days, insiders sold 1,490 shares of company stock valued at $747,372. Insiders own 0.22% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently issued reports on NOC. Citigroup lifted their price target on shares of Northrop Grumman from $521.00 to $587.00 and gave the company a “neutral” rating in a research report on Thursday, October 10th. StockNews.com raised shares of Northrop Grumman from a “hold” rating to a “buy” rating in a research report on Friday, July 12th. Morgan Stanley lifted their price target on shares of Northrop Grumman from $579.00 to $592.00 and gave the company an “overweight” rating in a research report on Friday, August 9th. UBS Group upped their target price on shares of Northrop Grumman from $614.00 to $643.00 and gave the stock a “buy” rating in a research note on Friday. Finally, TD Cowen upgraded shares of Northrop Grumman to a “hold” rating in a research note on Tuesday, October 8th. One analyst has rated the stock with a sell rating, ten have given a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Northrop Grumman presently has an average rating of “Hold” and a consensus price target of $547.44.

Northrop Grumman Company Profile

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.