The 125 Shares of Northrop Grumman Corp. (NOC) Stock are sold by Kenneth L. Bedingfield

The 125 Shares of Northrop Grumman Corp. (NOC) Stock are sold by Kenneth L. Bedingfield

Northrop Grumman Corp. (NYSE:NOC) CFO Kenneth L. Bedingfield sold 125 shares of the business’s stock in a transaction that occurred on Monday, October 3rd. The shares were sold at an average price of $213.00, for a total value of $26,625.00. Following the transaction, the chief financial officer now directly owns 18,501 shares in the company, valued at $3,940,713. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Northrop Grumman Corp. (NYSE:NOC) opened at 215.43 on Monday. Northrop Grumman Corp. has a 12-month low of $172.40 and a 12-month high of $224.12. The company has a market cap of $38.47 billion, a P/E ratio of 19.38 and a beta of 0.72. The firm has a 50-day moving average price of $213.57 and a 200-day moving average price of $212.68.

Northrop Grumman Corp. (NYSE:NOC) last issued its earnings results on Wednesday, July 27th. The company reported $2.85 earnings per share for the quarter, beating the Zacks’ consensus estimate of $2.53 by $0.32. The business earned $6 billion during the quarter, compared to analyst estimates of $5.99 billion. Northrop Grumman Corp. had a return on equity of 32.59% and a net margin of 8.67%. Northrop Grumman Corp.’s revenue was up 1.8% on a year-over-year basis. During the same period in the previous year, the company posted $2.54 EPS. On average, analysts forecast that Northrop Grumman Corp. will post $11.04 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 14th. Stockholders of record on Monday, August 29th were issued a $0.90 dividend. The ex-dividend date was Thursday, August 25th. This represents a $3.60 dividend on an annualized basis and a dividend yield of 1.67%. Northrop Grumman Corp.’s dividend payout ratio is presently 32.37%.

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Virginia Retirement System bought a new position in shares of Northrop Grumman Corp. during the first quarter worth about $556,000. Pacad Investment Ltd. bought a new position in shares of Northrop Grumman Corp. during the first quarter worth about $891,000. Shufro Rose & Co. LLC bought a new position in shares of Northrop Grumman Corp. during the first quarter worth about $281,000. ING Groep NV increased its position in shares of Northrop Grumman Corp. by 82.9% in the first quarter. ING Groep NV now owns 4,107 shares of the company’s stock worth $813,000 after buying an additional 1,862 shares in the last quarter. Finally, Aviva PLC increased its position in shares of Northrop Grumman Corp. by 3.1% in the first quarter. Aviva PLC now owns 158,364 shares of the company’s stock worth $31,341,000 after buying an additional 4,708 shares in the last quarter. Institutional investors and hedge funds own 82.52% of the company’s stock.

Several brokerages recently weighed in on NOC. Zacks Investment Research cut Northrop Grumman Corp. from a “buy” rating to a “hold” rating in a research note on Monday, August 1st. JPMorgan Chase & Co. cut Northrop Grumman Corp. from an “overweight” rating to a “neutral” rating and upped their price target for the stock from $225.00 to $231.00 in a research note on Thursday, August 25th. Jefferies Group upped their price target on Northrop Grumman Corp. from $233.00 to $250.00 and gave the stock a “buy” rating in a research note on Thursday, July 28th. Argus reaffirmed a “buy” rating on shares of Northrop Grumman Corp. in a research note on Tuesday, August 2nd. Finally, Robert W. Baird began coverage on Northrop Grumman Corp. in a research note on Wednesday, October 5th. They issued an “outperform” rating and a $260.00 price target on the stock. Nine investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $223.97.

About Northrop Grumman Corp.

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