Northrop Grumman Co. (NYSE:NOC) VP David T. Perry sold 13,210 shares of the business’s stock in a transaction on Monday, February 25th. The shares were sold at an average price of $288.94, for a total transaction of $3,816,897.40. Following the sale, the vice president now owns 25,100 shares of the company’s stock, valued at $7,252,394. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.
Shares of NOC stock opened at $289.96 on Friday. Northrop Grumman Co. has a 1 year low of $223.63 and a 1 year high of $360.88. The company has a quick ratio of 1.09, a current ratio of 1.17 and a debt-to-equity ratio of 1.70. The firm has a market cap of $48.68 billion, a PE ratio of 13.59, a price-to-earnings-growth ratio of 1.19 and a beta of 0.89.
Northrop Grumman (NYSE:NOC) last issued its quarterly earnings data on Thursday, January 31st. The aerospace company reported $4.93 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.45 by $0.48. Northrop Grumman had a net margin of 9.73% and a return on equity of 41.24%. The firm had revenue of $8.16 billion during the quarter, compared to the consensus estimate of $8.11 billion. During the same quarter in the previous year, the firm posted $2.82 EPS. On average, sell-side analysts forecast that Northrop Grumman Co. will post 18.94 earnings per share for the current fiscal year.
Northrop Grumman announced that its Board of Directors has initiated a share repurchase plan on Tuesday, December 4th that allows the company to buyback $3.00 billion in shares. This buyback authorization allows the aerospace company to reacquire up to 6.9% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s board of directors believes its stock is undervalued.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 13th. Stockholders of record on Monday, February 25th will be given a dividend of $1.20 per share. This represents a $4.80 dividend on an annualized basis and a dividend yield of 1.66%. The ex-dividend date is Friday, February 22nd. Northrop Grumman’s payout ratio is 22.50%.
A number of brokerages have weighed in on NOC. ValuEngine lowered shares of Northrop Grumman from a “hold” rating to a “sell” rating in a research note on Friday, January 4th. Cowen reiterated a “hold” rating and set a $300.00 target price on shares of Northrop Grumman in a research note on Thursday, January 31st. Argus reiterated a “buy” rating on shares of Northrop Grumman in a research note on Friday, February 1st. Zacks Investment Research lowered shares of Northrop Grumman from a “buy” rating to a “hold” rating in a research note on Wednesday, February 13th. Finally, Drexel Hamilton reiterated a “buy” rating and set a $335.00 target price on shares of Northrop Grumman in a research note on Wednesday, December 19th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and twelve have given a buy rating to the stock. Northrop Grumman currently has a consensus rating of “Buy” and a consensus target price of $336.39.
Several hedge funds have recently modified their holdings of the company. Laurel Wealth Advisors LLC bought a new position in Northrop Grumman in the 4th quarter worth $27,000. Sontag Advisory LLC bought a new position in Northrop Grumman in the 4th quarter worth $29,000. Athena Capital Advisors LLC bought a new position in Northrop Grumman in the 4th quarter worth $31,000. Gantzert Investment Co. LLC ADV bought a new position in Northrop Grumman in the 4th quarter worth $32,000. Finally, Penserra Capital Management LLC boosted its holdings in Northrop Grumman by 31.3% in the 4th quarter. Penserra Capital Management LLC now owns 168 shares of the aerospace company’s stock worth $41,000 after buying an additional 40 shares during the period. 82.60% of the stock is owned by hedge funds and other institutional investors.
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About Northrop Grumman
Northrop Grumman Corporation operates as a security company for government and commercial customers worldwide. It provides products, systems, and solutions in autonomous systems; cyber; command, control, communications and computers, intelligence, surveillance, and reconnaissance (C4ISR); strike; and logistics and modernization.
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