Insider Selling: Northrop Grumman Co. (NOC) VP Sells 2,941 Shares of Stock

Northrop Grumman Co. (NYSE:NOC) VP Michael A. Hardesty sold 2,941 shares of Northrop Grumman stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $351.06, for a total transaction of $1,032,467.46. Following the completion of the transaction, the vice president now owns 9,202 shares in the company, valued at approximately $3,230,454.12. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Northrop Grumman Co. (NYSE NOC) traded down $2.19 during trading hours on Thursday, reaching $348.63. 842,362 shares of the company traded hands, compared to its average volume of 1,140,000. Northrop Grumman Co. has a 1-year low of $233.20 and a 1-year high of $358.84. The company has a debt-to-equity ratio of 2.04, a current ratio of 2.35 and a quick ratio of 2.24. The company has a market capitalization of $60,690.00, a price-to-earnings ratio of 26.45, a P/E/G ratio of 2.52 and a beta of 0.82.

Northrop Grumman (NYSE:NOC) last posted its quarterly earnings data on Thursday, January 25th. The aerospace company reported $2.82 EPS for the quarter, topping the consensus estimate of $2.75 by $0.07. Northrop Grumman had a net margin of 7.81% and a return on equity of 37.28%. The business had revenue of $6.63 billion for the quarter, compared to analyst estimates of $6.34 billion. During the same quarter in the previous year, the firm posted $2.96 earnings per share. Northrop Grumman’s quarterly revenue was up 3.7% on a year-over-year basis. analysts anticipate that Northrop Grumman Co. will post 15.2 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 21st. Investors of record on Monday, March 5th will be paid a dividend of $1.10 per share. The ex-dividend date is Friday, March 2nd. This represents a $4.40 annualized dividend and a yield of 1.26%. This is a positive change from Northrop Grumman’s previous quarterly dividend of $1.00. Northrop Grumman’s payout ratio is presently 30.35%.

A number of large investors have recently bought and sold shares of the stock. Ibex Wealth Advisors boosted its stake in Northrop Grumman by 2.1% during the fourth quarter. Ibex Wealth Advisors now owns 7,330 shares of the aerospace company’s stock worth $2,259,000 after acquiring an additional 153 shares in the last quarter. Clifford Swan Investment Counsel LLC boosted its stake in Northrop Grumman by 0.6% during the fourth quarter. Clifford Swan Investment Counsel LLC now owns 26,398 shares of the aerospace company’s stock worth $8,102,000 after acquiring an additional 165 shares in the last quarter. Monroe Bank & Trust MI lifted its stake in shares of Northrop Grumman by 16.1% in the third quarter. Monroe Bank & Trust MI now owns 1,205 shares of the aerospace company’s stock worth $280,000 after buying an additional 167 shares in the last quarter. Hanseatic Management Services Inc. lifted its stake in shares of Northrop Grumman by 39.7% in the third quarter. Hanseatic Management Services Inc. now owns 591 shares of the aerospace company’s stock worth $170,000 after buying an additional 168 shares in the last quarter. Finally, BB&T Securities LLC lifted its stake in shares of Northrop Grumman by 2.4% in the third quarter. BB&T Securities LLC now owns 7,147 shares of the aerospace company’s stock worth $2,056,000 after buying an additional 169 shares in the last quarter. 81.18% of the stock is currently owned by institutional investors and hedge funds.

A number of equities analysts have issued reports on NOC shares. Bank of America set a $350.00 price objective on shares of Northrop Grumman and gave the company a “buy” rating in a research report on Friday, October 27th. Royal Bank of Canada set a $374.00 target price on shares of Northrop Grumman and gave the company a “buy” rating in a research note on Thursday, November 16th. Cowen reaffirmed a “hold” rating and set a $300.00 target price (up previously from $275.00) on shares of Northrop Grumman in a research note on Thursday, October 26th. Stifel Nicolaus lifted their target price on shares of Northrop Grumman from $255.00 to $300.00 and gave the company a “hold” rating in a research note on Friday, October 27th. Finally, Goldman Sachs Group lowered shares of Northrop Grumman from a “conviction-buy” rating to a “buy” rating and set a $395.00 target price on the stock. in a research note on Tuesday. Five equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $331.21.

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About Northrop Grumman

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.

Insider Buying and Selling by Quarter for Northrop Grumman (NYSE:NOC)

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