Northrop Grumman (NYSE:NOC) Shares Up 2.8% – Here’s Why

Northrop Grumman Corporation (NYSE:NOC) shares traded up 2.8% during mid-day trading on Monday. The stock traded as high as $543.92 and last traded at $539.48. 810,896 shares traded hands during trading, a decline of 13% from the average daily volume of 932,650 shares. The stock had previously closed at $525.01.

Analyst Upgrades and Downgrades

NOC has been the topic of a number of research analyst reports. UBS Group boosted their price target on Northrop Grumman from $694.00 to $698.00 and gave the stock a “buy” rating in a report on Wednesday, October 21st. TD Cowen cut their price objective on shares of Northrop Grumman from $590.00 to $540.00 and set a “hold” rating for the company in a report on Friday, October 9th. Barclays lifted their price objective on shares of Northrop Grumman from $419.00 to $430.00 and gave the company an “underweight” rating in a research report on Thursday, October 22nd. Susquehanna lowered their target price on shares of Northrop Grumman from $785.00 to $655.00 and set a “positive” rating on the stock in a report on Wednesday, July 22nd. Finally, BNP Paribas Exane upped their target price on shares of Northrop Grumman from $540.00 to $600.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 21st. Fifteen analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $643.74.

Northrop Grumman Price Performance

The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.14 and a current ratio of 1.23. The firm has a fifty day simple moving average of $519.41 and a two-hundred day simple moving average of $587.68. The firm has a market cap of $78.26 billion, a PE ratio of 17.38, a PEG ratio of 2.89 and a beta of -0.13.

Northrop Grumman (NYSE:NOC) last issued its quarterly earnings data on Tuesday, October 20th. The aerospace company reported $7.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $7.18 by $0.71. Northrop Grumman had a return on equity of 23.46% and a net margin of 10.37%. The business had revenue of $11.12 billion for the quarter, compared to analysts’ expectations of $11.14 billion. During the same period in the prior year, the firm earned $7.67 EPS. The company’s revenue for the quarter was up 6.7% on a year-over-year basis. Equities analysts predict that Northrop Grumman Corporation will post 29.68 EPS for the current fiscal year.

Northrop Grumman Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 16th. Investors of record on Monday, August 31st were paid a dividend of $2.47 per share. The ex-dividend date of this dividend was Monday, August 31st. This represents a $9.88 dividend on an annualized basis and a yield of 1.8%. Northrop Grumman’s dividend payout ratio is presently 31.17%.

Insider Buying and Selling

In other Northrop Grumman news, Director Mark Welsh, III sold 98 shares of Northrop Grumman stock in a transaction on Monday, November 2nd. The shares were sold at an average price of $555.65, for a total value of $54,453.70. Following the completion of the transaction, the director directly owned 4,314 shares of the company’s stock, valued at $2,397,074.10. This trade represents a 2.22% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.21% of the stock is owned by company insiders.

Institutional Trading of Northrop Grumman

Several hedge funds have recently made changes to their positions in NOC. Perkins Coie Trust Co bought a new stake in Northrop Grumman during the second quarter worth approximately $29,000. Navigoe LLC purchased a new stake in Northrop Grumman during the 2nd quarter valued at $30,000. Plato Investment Management Ltd purchased a new stake in Northrop Grumman during the 2nd quarter valued at $30,000. Elevation Wealth Partners LLC purchased a new stake in Northrop Grumman during the 3rd quarter valued at $30,000. Finally, Compass Wealth Management LLC bought a new stake in Northrop Grumman in the third quarter worth $32,000. 83.40% of the stock is currently owned by hedge funds and other institutional investors.

About Northrop Grumman

Northrop Grumman Corporation is a U.S.-based aerospace and defense company that develops and produces systems for government and commercial customers. Its business spans aeronautics, defense, mission technologies and space, including military aircraft, autonomous systems, missile and air-defense capabilities, sensors, communications and satellites. The company is the prime contractor for the B-21 Raider and is developing the Sentinel intercontinental ballistic missile system. It also supplies technologies and components for other defense programs, as well as launch vehicles, propulsion systems and spacecraft.