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.