Mark A. Welsh III Sells 33 Shares of Northrop Grumman Co. (NYSE:NOC) Stock

Northrop Grumman Co. (NYSE:NOC - Get Free Report) Director Mark A. Welsh III sold 33 shares of the firm's stock in a transaction that occurred on Monday, April 7th. The shares were sold at an average price of $480.30, for a total transaction of $15,849.90. Following the completion of the transaction, the director now directly owns 4,057 shares of the company's stock, valued at $1,948,577.10. This represents a 0.81 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Northrop Grumman Stock Performance

Shares of NYSE NOC traded up $18.05 during midday trading on Friday, reaching $534.14. 1,178,801 shares of the company were exchanged, compared to its average volume of 869,500. The stock has a market cap of $76.99 billion, a P/E ratio of 18.85, a PEG ratio of 3.73 and a beta of 0.20. Northrop Grumman Co. has a 1 year low of $418.60 and a 1 year high of $555.57. The stock has a fifty day simple moving average of $481.83 and a 200 day simple moving average of $491.66. The company has a current ratio of 1.01, a quick ratio of 0.91 and a debt-to-equity ratio of 0.96.

Northrop Grumman (NYSE:NOC - Get Free Report) last announced its earnings results on Thursday, January 30th. The aerospace company reported $6.39 earnings per share for the quarter, beating the consensus estimate of $6.27 by $0.12. Northrop Grumman had a return on equity of 26.24% and a net margin of 10.17%. On average, research analysts forecast that Northrop Grumman Co. will post 28.05 earnings per share for the current fiscal year.

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Northrop Grumman Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 19th. Investors of record on Monday, March 3rd were issued a dividend of $2.06 per share. The ex-dividend date was Monday, March 3rd. This represents a $8.24 annualized dividend and a yield of 1.54%. Northrop Grumman's dividend payout ratio is currently 29.08%.

Institutional Investors Weigh In On Northrop Grumman

A number of hedge funds have recently added to or reduced their stakes in NOC. Stokes Capital Advisors LLC raised its stake in shares of Northrop Grumman by 1.6% during the 1st quarter. Stokes Capital Advisors LLC now owns 15,620 shares of the aerospace company's stock worth $7,998,000 after buying an additional 243 shares in the last quarter. SeaCrest Wealth Management LLC grew its holdings in Northrop Grumman by 3.9% during the first quarter. SeaCrest Wealth Management LLC now owns 1,159 shares of the aerospace company's stock worth $593,000 after acquiring an additional 44 shares during the period. Procyon Advisors LLC raised its position in Northrop Grumman by 43.5% in the first quarter. Procyon Advisors LLC now owns 8,506 shares of the aerospace company's stock worth $4,355,000 after acquiring an additional 2,580 shares in the last quarter. Permanent Capital Management LP lifted its holdings in Northrop Grumman by 41.1% in the first quarter. Permanent Capital Management LP now owns 717 shares of the aerospace company's stock valued at $367,000 after acquiring an additional 209 shares during the period. Finally, AGH Wealth Advisors LLC purchased a new stake in shares of Northrop Grumman during the 1st quarter worth $208,000. Institutional investors and hedge funds own 83.40% of the company's stock.

Analyst Ratings Changes

NOC has been the topic of a number of recent analyst reports. The Goldman Sachs Group raised shares of Northrop Grumman from a "sell" rating to a "neutral" rating and increased their price objective for the company from $424.00 to $521.00 in a research report on Friday. Argus raised Northrop Grumman to a "strong-buy" rating in a report on Wednesday, February 26th. Susquehanna decreased their price target on Northrop Grumman from $625.00 to $557.00 and set a "positive" rating for the company in a report on Wednesday, January 8th. Truist Financial assumed coverage on Northrop Grumman in a report on Tuesday, January 14th. They issued a "buy" rating and a $544.00 price objective on the stock. Finally, Citigroup upped their price target on Northrop Grumman from $587.00 to $591.00 and gave the company a "buy" rating in a report on Monday, February 10th. Nine research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $543.65.

About Northrop Grumman

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.