Northrop Grumman Co. (NYSE:NOC) Director Sells $15,072.42 in Stock

Northrop Grumman Co. (NYSE:NOC) Director Mark A. Welsh III sold 33 shares of the stock in a transaction on Monday, January 6th. The shares were sold at an average price of $456.74, for a total value of $15,072.42. Following the sale, the director now owns 4,139 shares of the company’s stock, valued at approximately $1,890,446.86. This represents a 0.79 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Northrop Grumman Stock Up 2.3 %

Northrop Grumman stock opened at $462.68 on Friday. Northrop Grumman Co. has a 52 week low of $418.60 and a 52 week high of $555.57. The firm has a market cap of $67.41 billion, a price-to-earnings ratio of 28.67, a price-to-earnings-growth ratio of 0.97 and a beta of 0.35. The business’s 50-day moving average price is $485.71 and its 200 day moving average price is $492.01. The company has a quick ratio of 0.97, a current ratio of 1.09 and a debt-to-equity ratio of 1.00.

Northrop Grumman (NYSE:NOC) last posted its earnings results on Thursday, October 24th. The aerospace company reported $7.00 earnings per share for the quarter, beating the consensus estimate of $6.07 by $0.93. Northrop Grumman had a net margin of 5.79% and a return on equity of 26.57%. The firm had revenue of $10 billion during the quarter, compared to analyst estimates of $10.18 billion. During the same period in the previous year, the firm earned $6.18 EPS. The business’s quarterly revenue was up 2.3% on a year-over-year basis. As a group, sell-side analysts anticipate that Northrop Grumman Co. will post 25.93 earnings per share for the current year.

Northrop Grumman Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, December 18th. Stockholders of record on Monday, December 2nd were paid a dividend of $2.06 per share. This represents a $8.24 annualized dividend and a dividend yield of 1.78%. The ex-dividend date was Monday, December 2nd. Northrop Grumman’s payout ratio is currently 51.05%.

Northrop Grumman declared that its Board of Directors has authorized a stock buyback plan on Wednesday, December 11th that allows the company to repurchase $3.00 billion in shares. This repurchase authorization allows the aerospace company to reacquire up to 4.3% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s leadership believes its shares are undervalued.

Wall Street Analyst Weigh In

A number of research firms have commented on NOC. Wells Fargo & Company upgraded Northrop Grumman from an “equal weight” rating to an “overweight” rating and set a $595.00 price target for the company in a research note on Wednesday. StockNews.com raised shares of Northrop Grumman from a “buy” rating to a “strong-buy” rating in a research report on Friday, January 3rd. JPMorgan Chase & Co. boosted their target price on shares of Northrop Grumman from $500.00 to $560.00 and gave the stock a “neutral” rating in a research report on Monday, October 14th. Royal Bank of Canada raised their price target on shares of Northrop Grumman from $500.00 to $540.00 and gave the stock a “sector perform” rating in a report on Friday, October 25th. Finally, Barclays dropped their price objective on shares of Northrop Grumman from $550.00 to $500.00 and set an “equal weight” rating on the stock in a report on Monday. Nine equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $551.40.

Hedge Funds Weigh In On Northrop Grumman

A number of large investors have recently bought and sold shares of NOC. International Assets Investment Management LLC purchased a new stake in shares of Northrop Grumman in the fourth quarter valued at approximately $622,000. Diversified Trust Co lifted its position in shares of Northrop Grumman by 143.2% during the 4th quarter. Diversified Trust Co now owns 4,902 shares of the aerospace company’s stock valued at $2,300,000 after buying an additional 2,886 shares in the last quarter. Fortem Financial Group LLC acquired a new stake in Northrop Grumman in the 4th quarter valued at $237,000. CWA Asset Management Group LLC increased its holdings in Northrop Grumman by 89.3% in the 4th quarter. CWA Asset Management Group LLC now owns 1,257 shares of the aerospace company’s stock worth $590,000 after acquiring an additional 593 shares in the last quarter. Finally, Modus Advisors LLC acquired a new position in Northrop Grumman during the fourth quarter worth $38,000. Institutional investors and hedge funds own 83.40% of the company’s stock.

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.