Northrop Grumman Co. (NYSE:NOC) Director Sells $16,120.50 in Stock

Northrop Grumman Co. (NYSE:NOC) Director Mark A. Welsh III sold 33 shares of Northrop Grumman stock in a transaction that occurred on Thursday, June 5th. The stock was sold at an average price of $488.50, for a total transaction of $16,120.50. Following the transaction, the director now directly owns 4,376 shares in the company, valued at $2,137,676. The trade was a 0.75% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Northrop Grumman Stock Down 0.1%

Shares of NOC stock opened at $488.40 on Thursday. The firm’s 50-day moving average is $490.15 and its 200-day moving average is $482.34. The stock has a market cap of $70.29 billion, a price-to-earnings ratio of 17.23, a PEG ratio of 3.73 and a beta of 0.14. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.91 and a current ratio of 1.01. Northrop Grumman Co. has a 52-week low of $418.60 and a 52-week high of $555.57.

Northrop Grumman (NYSE:NOC) last released its quarterly earnings data on Tuesday, April 22nd. The aerospace company reported $6.06 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $6.33 by ($0.27). Northrop Grumman had a net margin of 10.17% and a return on equity of 26.24%. The business had revenue of $9.47 billion during the quarter, compared to analyst estimates of $10.07 billion. Sell-side analysts predict that Northrop Grumman Co. will post 28.05 EPS for the current year.

Northrop Grumman Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 18th. Stockholders of record on Monday, June 2nd will be given a $2.31 dividend. This represents a $9.24 dividend on an annualized basis and a dividend yield of 1.89%. This is a boost from Northrop Grumman’s previous quarterly dividend of $2.06. The ex-dividend date is Monday, June 2nd. Northrop Grumman’s dividend payout ratio (DPR) is presently 36.46%.

Analyst Upgrades and Downgrades

NOC has been the topic of a number of research reports. Argus raised shares of Northrop Grumman to a “strong-buy” rating in a research note on Wednesday, February 26th. Morgan Stanley lifted their price target on shares of Northrop Grumman from $580.00 to $625.00 and gave the company an “overweight” rating in a research note on Wednesday, April 16th. Susquehanna cut their price target on shares of Northrop Grumman from $557.00 to $540.00 and set a “positive” rating on the stock in a research note on Wednesday, April 23rd. Royal Bank of Canada cut their price target on shares of Northrop Grumman from $575.00 to $550.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 23rd. Finally, UBS Group cut their price target on shares of Northrop Grumman from $583.00 to $571.00 and set a “buy” rating on the stock in a research note on Wednesday, April 23rd. Nine research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $545.31.

Institutional Trading of Northrop Grumman

A number of hedge funds have recently made changes to their positions in NOC. IMA Advisory Services Inc. acquired a new stake in Northrop Grumman during the 1st quarter worth approximately $27,000. Saudi Central Bank acquired a new stake in Northrop Grumman during the 1st quarter worth approximately $28,000. Banque Cantonale Vaudoise acquired a new stake in Northrop Grumman during the 1st quarter worth approximately $30,000. Whipplewood Advisors LLC acquired a new stake in Northrop Grumman during the 4th quarter worth approximately $31,000. Finally, Wood Tarver Financial Group LLC acquired a new stake in Northrop Grumman during the 4th quarter worth approximately $32,000. 83.40% of the stock is owned by institutional investors and hedge funds.

Northrop Grumman Company Profile

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.