Northrop Grumman Corporation (NYSE:NOC) declared a quarterly dividend on Wednesday, November 15th, RTT News reports. Shareholders of record on Monday, December 4th will be paid a dividend of 1.00 per share by the aerospace company on Wednesday, December 20th. This represents a $4.00 annualized dividend and a yield of 1.33%.
Northrop Grumman Corporation has increased its dividend payment by an average of 13.7% annually over the last three years and has raised its dividend annually for the last 9 consecutive years. Northrop Grumman Corporation has a dividend payout ratio of 30.3% meaning its dividend is sufficiently covered by earnings. Analysts expect Northrop Grumman Corporation to earn $13.53 per share next year, which means the company should continue to be able to cover its $4.00 annual dividend with an expected future payout ratio of 29.6%.
Shares of Northrop Grumman Corporation (NOC) traded up $1.98 during trading hours on Wednesday, reaching $300.46. The company’s stock had a trading volume of 521,500 shares, compared to its average volume of 777,759. The stock has a market capitalization of $51,958.95, a PE ratio of 22.75, a price-to-earnings-growth ratio of 3.00 and a beta of 0.70. The company has a debt-to-equity ratio of 0.96, a current ratio of 1.21 and a quick ratio of 1.05. Northrop Grumman Corporation has a fifty-two week low of $220.72 and a fifty-two week high of $306.61.
Northrop Grumman Corporation (NYSE:NOC) last announced its earnings results on Wednesday, October 25th. The aerospace company reported $3.68 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.92 by $0.76. The business had revenue of $6.53 billion for the quarter, compared to analysts’ expectations of $6.33 billion. Northrop Grumman Corporation had a return on equity of 39.76% and a net margin of 9.24%. The business’s revenue for the quarter was up 6.0% on a year-over-year basis. During the same period last year, the firm posted $3.35 earnings per share. equities analysts forecast that Northrop Grumman Corporation will post 13.2 earnings per share for the current year.
In related news, VP Denise M. Peppard sold 5,037 shares of Northrop Grumman Corporation stock in a transaction that occurred on Wednesday, November 1st. The stock was sold at an average price of $295.67, for a total transaction of $1,489,289.79. Following the sale, the vice president now owns 58,186 shares of the company’s stock, valued at approximately $17,203,854.62. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Sid Ashworth sold 6,311 shares of Northrop Grumman Corporation stock in a transaction that occurred on Friday, October 27th. The shares were sold at an average price of $298.00, for a total value of $1,880,678.00. Following the sale, the vice president now directly owns 63,147 shares in the company, valued at approximately $18,817,806. The disclosure for this sale can be found here. Insiders have sold a total of 21,417 shares of company stock worth $6,365,189 in the last three months. 0.70% of the stock is owned by corporate insiders.
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Several research analysts have issued reports on NOC shares. Stifel Nicolaus reissued a “hold” rating and issued a $255.00 target price (up from $245.00) on shares of Northrop Grumman Corporation in a research report on Thursday, July 27th. Deutsche Bank AG reissued a “buy” rating and issued a $285.00 target price (up from $275.00) on shares of Northrop Grumman Corporation in a research report on Thursday, July 27th. BidaskClub cut Northrop Grumman Corporation from a “buy” rating to a “hold” rating in a research report on Monday, July 31st. Argus lifted their price objective on Northrop Grumman Corporation from $270.00 to $295.00 and gave the company a “buy” rating in a research report on Friday, August 4th. Finally, Morgan Stanley initiated coverage on Northrop Grumman Corporation in a research report on Tuesday, August 8th. They set an “equal weight” rating and a $279.00 price objective on the stock. Six equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Northrop Grumman Corporation currently has an average rating of “Buy” and a consensus target price of $292.01.
Northrop Grumman Corporation Company Profile
Northrop Grumman Corporation is a global security company. The Company provides products, systems and solutions in autonomous systems; cyber; command, control, communications and computers, intelligence, surveillance and reconnaissance (C4ISR); strike, and logistics and modernization. The Company’s segments include Aerospace Systems, Mission Systems and Technology Services.
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