Northrop Grumman Corporation (NYSE:NOC)’s share price reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $272.33 and last traded at $272.73, with a volume of 435,627 shares trading hands. The stock had previously closed at $269.82.
Several equities analysts recently issued reports on NOC shares. Deutsche Bank AG reaffirmed a “buy” rating and issued a $285.00 price objective (up from $275.00) on shares of Northrop Grumman Corporation in a research report on Thursday, July 27th. Cowen and Company reissued a “hold” rating and set a $275.00 price target on shares of Northrop Grumman Corporation in a report on Monday, July 17th. BidaskClub cut Northrop Grumman Corporation from a “buy” rating to a “hold” rating in a report on Monday, July 31st. Morgan Stanley assumed coverage on Northrop Grumman Corporation in a report on Tuesday, August 8th. They set an “equal weight” rating and a $279.00 price target on the stock. Finally, Vertical Research raised Northrop Grumman Corporation from a “hold” rating to a “buy” rating and increased their price target for the company from $254.00 to $270.00 in a report on Wednesday, May 10th. Seven research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $259.93.
The firm’s 50-day moving average price is $265.37 and its 200 day moving average price is $250.80. The stock has a market capitalization of $46.59 billion, a PE ratio of 20.44 and a beta of 0.66.
Northrop Grumman Corporation (NYSE:NOC) last released its earnings results on Wednesday, July 26th. The aerospace company reported $3.15 EPS for the quarter, topping analysts’ consensus estimates of $2.84 by $0.31. The business had revenue of $6.38 billion during the quarter, compared to analysts’ expectations of $6.21 billion. Northrop Grumman Corporation had a net margin of 9.20% and a return on equity of 39.22%. The company’s quarterly revenue was up 6.3% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.85 earnings per share. Equities research analysts forecast that Northrop Grumman Corporation will post $12.55 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 13th. Stockholders of record on Monday, August 28th will be paid a dividend of $1.00 per share. The ex-dividend date is Thursday, August 24th. This represents a $4.00 dividend on an annualized basis and a dividend yield of 1.49%. Northrop Grumman Corporation’s dividend payout ratio is currently 30.56%.
In other news, VP Lisa R. Davis sold 367 shares of the business’s stock in a transaction dated Tuesday, August 1st. The shares were sold at an average price of $263.25, for a total transaction of $96,612.75. Following the completion of the sale, the vice president now owns 961 shares of the company’s stock, valued at $252,983.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Sid Ashworth sold 3,847 shares of the company’s stock in a transaction dated Wednesday, June 14th. The shares were sold at an average price of $260.00, for a total transaction of $1,000,220.00. Following the sale, the vice president now directly owns 69,458 shares of the company’s stock, valued at approximately $18,059,080. The disclosure for this sale can be found here. 0.70% of the stock is owned by insiders.
Hedge funds have recently made changes to their positions in the stock. Harbour Capital Advisors LLC acquired a new stake in shares of Northrop Grumman Corporation during the first quarter valued at about $108,000. Hanseatic Management Services Inc. boosted its stake in shares of Northrop Grumman Corporation by 12.8% in the second quarter. Hanseatic Management Services Inc. now owns 423 shares of the aerospace company’s stock valued at $109,000 after buying an additional 48 shares in the last quarter. First Personal Financial Services boosted its stake in shares of Northrop Grumman Corporation by 39.0% in the second quarter. First Personal Financial Services now owns 431 shares of the aerospace company’s stock valued at $111,000 after buying an additional 121 shares in the last quarter. Pittenger & Anderson Inc. boosted its stake in shares of Northrop Grumman Corporation by 28.6% in the second quarter. Pittenger & Anderson Inc. now owns 450 shares of the aerospace company’s stock valued at $116,000 after buying an additional 100 shares in the last quarter. Finally, Dubuque Bank & Trust Co. boosted its stake in shares of Northrop Grumman Corporation by 1.8% in the first quarter. Dubuque Bank & Trust Co. now owns 501 shares of the aerospace company’s stock valued at $119,000 after buying an additional 9 shares in the last quarter. 81.80% of the stock is owned by institutional investors.
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About Northrop Grumman Corporation
Northrop Grumman Corporation is a global security company. The Company provides products, systems and solutions in autonomous systems; cyber; command, control, communications and computers, intelligence, surveillance and reconnaissance (C4ISR); strike, and logistics and modernization. The Company’s segments include Aerospace Systems, Mission Systems and Technology Services.
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