Northrop Grumman Co. (NYSE:NOC) Director Madeleine Kleiner sold 971 shares of the stock in a transaction that occurred on Wednesday, May 22nd. The shares were sold at an average price of $315.16, for a total value of $306,020.36. Following the transaction, the director now owns 16,675 shares in the company, valued at approximately $5,255,293. The sale was disclosed in a document filed with the SEC, which is available through this link.
NOC stock traded down $7.28 during midday trading on Thursday, reaching $309.35. The stock had a trading volume of 35,655 shares, compared to its average volume of 1,089,617. The company has a debt-to-equity ratio of 1.59, a quick ratio of 1.10 and a current ratio of 1.18. The firm has a market capitalization of $53.70 billion, a P/E ratio of 14.49, a PEG ratio of 1.27 and a beta of 0.89. Northrop Grumman Co. has a 52-week low of $223.63 and a 52-week high of $340.14.
Northrop Grumman (NYSE:NOC) last announced its quarterly earnings data on Wednesday, April 24th. The aerospace company reported $5.06 earnings per share for the quarter, beating analysts’ consensus estimates of $4.59 by $0.47. The company had revenue of $8.19 billion for the quarter, compared to analyst estimates of $8.34 billion. Northrop Grumman had a return on equity of 41.42% and a net margin of 9.67%. The firm’s revenue for the quarter was up 21.6% on a year-over-year basis. During the same quarter last year, the firm posted $4.21 EPS. On average, equities analysts forecast that Northrop Grumman Co. will post 19.39 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 19th. Shareholders of record on Monday, June 3rd will be issued a $1.32 dividend. The ex-dividend date is Friday, May 31st. This represents a $5.28 dividend on an annualized basis and a yield of 1.71%. This is a positive change from Northrop Grumman’s previous quarterly dividend of $1.20. Northrop Grumman’s dividend payout ratio (DPR) is presently 22.50%.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Trustcore Financial Services LLC purchased a new position in shares of Northrop Grumman during the 1st quarter worth $27,000. Glassman Wealth Services raised its holdings in shares of Northrop Grumman by 203.0% during the 1st quarter. Glassman Wealth Services now owns 100 shares of the aerospace company’s stock worth $27,000 after acquiring an additional 67 shares during the period. Kore Private Wealth LLC purchased a new position in shares of Northrop Grumman during the 1st quarter worth $27,000. Truvestments Capital LLC purchased a new position in shares of Northrop Grumman during the 1st quarter worth $28,000. Finally, Legacy Advisors LLC purchased a new position in shares of Northrop Grumman during the 1st quarter worth $30,000. Institutional investors and hedge funds own 81.37% of the company’s stock.
A number of brokerages have recently issued reports on NOC. UBS Group increased their target price on Northrop Grumman from $290.00 to $300.00 and gave the company a “neutral” rating in a research report on Thursday, April 25th. ValuEngine upgraded Northrop Grumman from a “sell” rating to a “hold” rating in a research report on Friday, May 17th. Barclays increased their target price on Northrop Grumman from $325.00 to $340.00 and gave the company an “overweight” rating in a research report on Thursday, May 16th. Alembic Global Advisors upgraded Northrop Grumman from a “neutral” rating to an “overweight” rating in a research report on Tuesday, April 30th. Finally, Susquehanna Bancshares upgraded Northrop Grumman from a “neutral” rating to a “positive” rating and increased their target price for the company from $309.00 to $315.00 in a research report on Friday, April 5th. Six research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $333.06.
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Northrop Grumman Company Profile
Northrop Grumman Corporation, a security company, provides products in the areas of autonomous systems, cyber, space, strikes, and logistics and modernizations in the United States, the Asia Pacific, and internationally. The company operates through four segments: Aerospace Systems, Innovation Systems, Mission Systems, and Technology Services.
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