What is Zacks Research’s Forecast for NOC FY2024 Earnings?

Northrop Grumman Co. (NYSE:NOC) – Stock analysts at Zacks Research increased their FY2024 earnings per share estimates for shares of Northrop Grumman in a research note issued on Thursday, November 14th. Zacks Research analyst A. Dutta now forecasts that the aerospace company will earn $25.78 per share for the year, up from their previous estimate of $24.98. The consensus estimate for Northrop Grumman’s current full-year earnings is $25.93 per share. Zacks Research also issued estimates for Northrop Grumman’s Q1 2025 earnings at $6.43 EPS, FY2025 earnings at $27.46 EPS and FY2026 earnings at $29.42 EPS.

Several other research firms have also recently weighed in on NOC. Morgan Stanley increased their price target on Northrop Grumman from $579.00 to $592.00 and gave the company an “overweight” rating in a report on Friday, August 9th. Royal Bank of Canada increased their target price on Northrop Grumman from $500.00 to $540.00 and gave the company a “sector perform” rating in a report on Friday, October 25th. JPMorgan Chase & Co. upped their price target on shares of Northrop Grumman from $500.00 to $560.00 and gave the company a “neutral” rating in a research report on Monday, October 14th. Alembic Global Advisors downgraded shares of Northrop Grumman from an “overweight” rating to a “neutral” rating and set a $560.00 price objective on the stock. in a report on Tuesday, August 27th. Finally, Barclays boosted their target price on shares of Northrop Grumman from $500.00 to $550.00 and gave the company an “equal weight” rating in a research report on Tuesday, October 29th. One analyst has rated the stock with a sell rating, ten have given a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $550.56.

Northrop Grumman Stock Up 0.4 %

NOC opened at $490.86 on Monday. Northrop Grumman has a twelve month low of $418.60 and a twelve month high of $555.57. The company has a quick ratio of 0.97, a current ratio of 1.09 and a debt-to-equity ratio of 1.00. The firm has a 50 day moving average price of $521.97 and a 200-day moving average price of $486.44. The stock has a market capitalization of $71.52 billion, a price-to-earnings ratio of 30.41, a PEG ratio of 1.00 and a beta of 0.35.

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

Insider Transactions at Northrop Grumman

In other news, VP Benjamin R. Davies sold 1,156 shares of the company’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $532.93, for a total transaction of $616,067.08. Following the transaction, the vice president now owns 537 shares of the company’s stock, valued at approximately $286,183.41. This represents a 68.28 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In the last 90 days, insiders sold 1,289 shares of company stock worth $685,273. 0.22% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the stock. Optimum Investment Advisors increased its position in shares of Northrop Grumman by 241.2% during the second quarter. Optimum Investment Advisors now owns 58 shares of the aerospace company’s stock worth $25,000 after acquiring an additional 41 shares during the period. Bank & Trust Co purchased a new position in Northrop Grumman during the 2nd quarter worth $28,000. RPg Family Wealth Advisory LLC bought a new stake in Northrop Grumman during the 3rd quarter valued at $31,000. Meeder Asset Management Inc. lifted its holdings 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 worth $33,000 after buying an additional 54 shares during the period. Finally, FSA Wealth Management LLC bought a new position in shares of Northrop Grumman during the 3rd quarter worth $36,000. Hedge funds and other institutional investors 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.