Northrop Grumman Co. (NOC) Expected to Post Quarterly Sales of $8.40 Billion

Wall Street analysts predict that Northrop Grumman Co. (NYSE:NOC) will post $8.40 billion in sales for the current quarter, Zacks Investment Research reports. Four analysts have issued estimates for Northrop Grumman’s earnings. The highest sales estimate is $8.50 billion and the lowest is $8.29 billion. Northrop Grumman reported sales of $7.12 billion in the same quarter last year, which would indicate a positive year over year growth rate of 18%. The company is scheduled to report its next quarterly earnings results on Wednesday, July 24th.

On average, analysts expect that Northrop Grumman will report full year sales of $33.94 billion for the current financial year, with estimates ranging from $33.60 billion to $34.32 billion. For the next fiscal year, analysts anticipate that the firm will report sales of $35.91 billion, with estimates ranging from $35.42 billion to $36.42 billion. Zacks Investment Research’s sales calculations are an average based on a survey of research analysts that follow Northrop Grumman.

Northrop Grumman (NYSE:NOC) last issued its quarterly earnings data on Wednesday, April 24th. The aerospace company reported $5.06 EPS for the quarter, beating the consensus estimate of $4.59 by $0.47. Northrop Grumman had a return on equity of 41.42% and a net margin of 9.67%. The firm had revenue of $8.19 billion during the quarter, compared to analyst estimates of $8.34 billion. During the same quarter in the prior year, the business posted $4.21 EPS. The business’s revenue for the quarter was up 21.6% compared to the same quarter last year.

A number of brokerages recently issued reports on NOC. Barclays raised their target price on Northrop Grumman from $325.00 to $340.00 and gave the stock an “overweight” rating in a research note on Thursday. Alembic Global Advisors upgraded Northrop Grumman from a “neutral” rating to an “overweight” rating in a report on Tuesday, April 30th. UBS Group boosted their target price on Northrop Grumman from $290.00 to $300.00 and gave the stock a “neutral” rating in a report on Thursday, April 25th. Susquehanna Bancshares upgraded Northrop Grumman from a “neutral” rating to a “positive” rating and boosted their target price for the stock from $309.00 to $315.00 in a report on Friday, April 5th. Finally, Morgan Stanley boosted their target price on Northrop Grumman from $305.00 to $308.00 and gave the stock an “equal weight” rating in a report on Wednesday, February 13th. One analyst has rated the stock with a sell rating, five have issued a hold rating and fourteen have issued a buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $338.82.

NOC stock traded up $10.18 during midday trading on Monday, reaching $304.67. The stock had a trading volume of 23,841 shares, compared to its average volume of 969,433. The firm has a market capitalization of $50.17 billion, a price-to-earnings ratio of 14.29, a price-to-earnings-growth ratio of 1.19 and a beta of 0.89. The company has a debt-to-equity ratio of 1.59, a current ratio of 1.18 and a quick ratio of 1.10. Northrop Grumman has a 52-week low of $223.63 and a 52-week high of $340.14.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, June 19th. Stockholders of record on Monday, June 3rd will be given a dividend of $1.32 per share. This represents a $5.28 annualized dividend and a dividend yield of 1.73%. The ex-dividend date of this dividend is Friday, May 31st. This is a positive change from Northrop Grumman’s previous quarterly dividend of $1.20. Northrop Grumman’s payout ratio is presently 22.50%.

In other news, VP Janis G. Pamiljans sold 2,500 shares of the firm’s stock in a transaction that occurred on Tuesday, February 19th. The shares were sold at an average price of $285.12, for a total transaction of $712,800.00. Following the completion of the transaction, the vice president now directly owns 6,732 shares of the company’s stock, valued at approximately $1,919,427.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman Wesley G. Bush sold 86,500 shares of the firm’s stock in a transaction that occurred on Wednesday, February 20th. The stock was sold at an average price of $287.28, for a total transaction of $24,849,720.00. Following the transaction, the chairman now directly owns 39,937 shares of the company’s stock, valued at $11,473,101.36. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 169,197 shares of company stock worth $48,826,976. Corporate insiders own 0.45% of the company’s stock.

Institutional investors and hedge funds have recently modified their holdings of the company. Morgan Stanley grew its stake in shares of Northrop Grumman by 14.2% in the third quarter. Morgan Stanley now owns 1,194,852 shares of the aerospace company’s stock valued at $379,210,000 after buying an additional 148,921 shares in the last quarter. Vanguard Group Inc grew its holdings in shares of Northrop Grumman by 1.3% during the third quarter. Vanguard Group Inc now owns 13,591,668 shares of the aerospace company’s stock worth $4,313,588,000 after purchasing an additional 176,809 shares during the last quarter. Federated Investors Inc. PA grew its holdings in shares of Northrop Grumman by 411.1% during the third quarter. Federated Investors Inc. PA now owns 12,752 shares of the aerospace company’s stock worth $4,047,000 after purchasing an additional 10,257 shares during the last quarter. Cullinan Associates Inc. grew its holdings in shares of Northrop Grumman by 33.3% during the fourth quarter. Cullinan Associates Inc. now owns 1,200 shares of the aerospace company’s stock worth $294,000 after purchasing an additional 300 shares during the last quarter. Finally, Sit Investment Associates Inc. grew its holdings in shares of Northrop Grumman by 160.2% during the fourth quarter. Sit Investment Associates Inc. now owns 1,137 shares of the aerospace company’s stock worth $278,000 after purchasing an additional 700 shares during the last quarter. 83.67% of the stock is owned by institutional investors.

About Northrop Grumman

Northrop Grumman Corporation, a security company, provides products in the areas of autonomous systems, cyber, space, strikes, and logistics and modernizations in the United States, the Asia Pacific, and internationally. The company operates through four segments: Aerospace Systems, Innovation Systems, Mission Systems, and Technology Services.

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