Shares of Northrop Grumman Co. (NYSE:NOC - Get Free Report) have earned a consensus rating of "Moderate Buy" from the eighteen research firms that are presently covering the firm, MarketBeat Ratings reports. Nine investment analysts have rated the stock with a hold recommendation, eight have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price target among analysts that have issued a report on the stock in the last year is $542.88.
NOC has been the topic of several analyst reports. StockNews.com lowered shares of Northrop Grumman from a "strong-buy" rating to a "buy" rating in a research report on Monday, February 3rd. Wells Fargo & Company increased their price target on Northrop Grumman from $545.00 to $547.00 and gave the stock an "overweight" rating in a report on Friday, March 7th. Wolfe Research upgraded shares of Northrop Grumman from an "underperform" rating to a "peer perform" rating in a report on Monday, February 3rd. Truist Financial began coverage on shares of Northrop Grumman in a research report on Tuesday, January 14th. They set a "buy" rating and a $544.00 price target for the company. Finally, Argus upgraded Northrop Grumman to a "strong-buy" rating in a research report on Wednesday, February 26th.
View Our Latest Research Report on NOC
Insider Transactions at Northrop Grumman
In related news, VP Benjamin R. Davies sold 192 shares of the business's stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $429.08, for a total value of $82,383.36. Following the completion of the sale, the vice president now directly owns 709 shares of the company's stock, valued at $304,217.72. The trade was a 21.31 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Kathy J. Warden sold 3,750 shares of the firm's stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $475.65, for a total value of $1,783,687.50. Following the transaction, the chief executive officer now directly owns 212,852 shares in the company, valued at approximately $101,243,053.80. The trade was a 1.73 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 4,505 shares of company stock worth $2,126,405. 0.22% of the stock is currently owned by insiders.
Institutional Investors Weigh In On Northrop Grumman
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Capital International Investors raised its position in Northrop Grumman by 5.9% in the 4th quarter. Capital International Investors now owns 8,239,434 shares of the aerospace company's stock valued at $3,866,133,000 after purchasing an additional 461,307 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its stake in shares of Northrop Grumman by 28.5% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 2,030,644 shares of the aerospace company's stock worth $952,962,000 after buying an additional 450,858 shares during the period. Two Sigma Advisers LP grew its holdings in shares of Northrop Grumman by 102.6% during the third quarter. Two Sigma Advisers LP now owns 735,600 shares of the aerospace company's stock worth $388,448,000 after buying an additional 372,500 shares during the last quarter. First Trust Advisors LP increased its position in Northrop Grumman by 337.1% in the 4th quarter. First Trust Advisors LP now owns 482,112 shares of the aerospace company's stock valued at $226,250,000 after acquiring an additional 371,814 shares during the period. Finally, Raymond James Financial Inc. purchased a new stake in Northrop Grumman during the 4th quarter valued at approximately $171,580,000. Hedge funds and other institutional investors own 83.40% of the company's stock.
Northrop Grumman Price Performance
Shares of NYSE:NOC traded up $4.53 during midday trading on Friday, hitting $495.25. The company had a trading volume of 626,687 shares, compared to its average volume of 829,626. The business's 50-day simple moving average is $475.18 and its 200-day simple moving average is $493.11. The stock has a market cap of $71.69 billion, a price-to-earnings ratio of 17.48, a price-to-earnings-growth ratio of 3.73 and a beta of 0.31. The company has a debt-to-equity ratio of 0.96, a current ratio of 1.01 and a quick ratio of 0.91. Northrop Grumman has a twelve month low of $418.60 and a twelve month high of $555.57.
Northrop Grumman (NYSE:NOC - Get Free Report) last announced its quarterly 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 net margin of 10.17% and a return on equity of 26.24%. On average, research analysts predict that Northrop Grumman will post 28.05 earnings per share for the current year.
Northrop Grumman Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 19th. Investors of record on Monday, March 3rd were issued a $2.06 dividend. This represents a $8.24 dividend on an annualized basis and a yield of 1.66%. The ex-dividend date was Monday, March 3rd. Northrop Grumman's dividend payout ratio (DPR) is 29.08%.
Northrop Grumman announced that its board has authorized a share repurchase program on Wednesday, December 11th that authorizes the company to buyback $3.00 billion in outstanding shares. This buyback authorization authorizes the aerospace company to buy up to 4.3% of its shares through open market purchases. Shares buyback programs are typically an indication that the company's management believes its shares are undervalued.
About Northrop Grumman
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Get Free ReportNorthrop 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.
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