Northrop Grumman Co. (NYSE:NOC) Director Sells $17,674.80 in Stock

Northrop Grumman Co. (NYSE:NOC) Director Mark A. Welsh III sold 33 shares of the company’s stock in a transaction dated Monday, October 7th. The shares were sold at an average price of $535.60, for a total transaction of $17,674.80. Following the sale, the director now directly owns 4,221 shares of the company’s stock, valued at approximately $2,260,767.60. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink.

Northrop Grumman Price Performance

Northrop Grumman stock opened at $527.09 on Friday. The firm has a market cap of $77.08 billion, a PE ratio of 34.41, a price-to-earnings-growth ratio of 2.44 and a beta of 0.34. Northrop Grumman Co. has a 52-week low of $418.60 and a 52-week high of $555.57. The company has a quick ratio of 0.99, a current ratio of 1.11 and a debt-to-equity ratio of 1.03. The company’s 50 day moving average is $516.44 and its two-hundred day moving average is $476.17.

Northrop Grumman (NYSE:NOC) last released its earnings results on Thursday, July 25th. The aerospace company reported $6.36 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.93 by $0.43. The company had revenue of $10.22 billion for the quarter, compared to analyst estimates of $10.02 billion. Northrop Grumman had a net margin of 5.61% and a return on equity of 25.44%. The firm’s quarterly revenue was up 6.7% on a year-over-year basis. During the same period in the prior year, the business earned $5.34 EPS. On average, research analysts expect that Northrop Grumman Co. will post 25.16 EPS for the current fiscal year.

Northrop Grumman Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 18th. Stockholders of record on Tuesday, September 3rd were issued a $2.06 dividend. The ex-dividend date was Tuesday, September 3rd. This represents a $8.24 dividend on an annualized basis and a dividend yield of 1.56%. Northrop Grumman’s payout ratio is 53.79%.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on NOC. Barclays upped their price objective on shares of Northrop Grumman from $470.00 to $500.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 30th. Citigroup increased their price target on shares of Northrop Grumman from $521.00 to $587.00 and gave the company a “neutral” rating in a research note on Thursday. TD Cowen raised shares of Northrop Grumman to a “hold” rating in a research note on Tuesday. BTIG Research started coverage on shares of Northrop Grumman in a research note on Wednesday, June 26th. They issued a “buy” rating and a $565.00 price target for the company. Finally, Royal Bank of Canada increased their price target on shares of Northrop Grumman from $475.00 to $500.00 and gave the company a “sector perform” rating in a research note on Friday, July 26th. One analyst has rated the stock with a sell rating, ten have given a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $527.19.

Institutional Investors Weigh In On Northrop Grumman

Hedge funds and other institutional investors have recently modified their holdings of the company. Optimum Investment Advisors raised its holdings in shares of Northrop Grumman by 241.2% in the 2nd quarter. Optimum Investment Advisors now owns 58 shares of the aerospace company’s stock valued at $25,000 after purchasing an additional 41 shares in the last quarter. Bank & Trust Co purchased a new position in shares of Northrop Grumman in the 2nd quarter valued at $28,000. Meeder Asset Management Inc. grew its position in shares of Northrop Grumman by 245.5% in the 2nd quarter. Meeder Asset Management Inc. now owns 76 shares of the aerospace company’s stock valued at $33,000 after buying an additional 54 shares during the last quarter. Rise Advisors LLC purchased a new position in shares of Northrop Grumman in the 1st quarter valued at $38,000. Finally, Riverview Trust Co purchased a new position in shares of Northrop Grumman in the 1st quarter valued at $47,000. 83.40% of the stock is currently owned by institutional investors and hedge funds.

About Northrop Grumman

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.