Northrop Grumman Co. (NYSE:NOC) VP Sells $82,383.36 in Stock

Northrop Grumman Co. (NYSE:NOC) VP Benjamin R. Davies sold 192 shares of the business’s stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $429.08, for a total transaction of $82,383.36. Following the completion of the transaction, the vice president now owns 709 shares of the company’s stock, valued at approximately $304,217.72. This represents a 21.31 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Northrop Grumman Stock Performance

NYSE:NOC opened at $454.80 on Thursday. The company has a market cap of $65.84 billion, a P/E ratio of 16.05, a P/E/G ratio of 3.73 and a beta of 0.35. Northrop Grumman Co. has a twelve month low of $418.60 and a twelve month high of $555.57. The company’s 50-day moving average price is $469.74 and its 200-day moving average price is $496.76. The company has a current ratio of 1.01, a quick ratio of 0.91 and a debt-to-equity ratio of 0.96.

Northrop Grumman (NYSE:NOC) last released its earnings results on Thursday, January 30th. The aerospace company reported $6.39 earnings per share for the quarter, topping analysts’ consensus estimates of $6.27 by $0.12. Northrop Grumman had a net margin of 10.17% and a return on equity of 26.24%. On average, sell-side analysts forecast that Northrop Grumman Co. will post 28.05 earnings per share for the current fiscal year.

Northrop Grumman Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, March 19th. Shareholders of record on Monday, March 3rd will be issued a $2.06 dividend. This represents a $8.24 annualized dividend and a yield of 1.81%. The ex-dividend date of this dividend is Monday, March 3rd. Northrop Grumman’s payout ratio is currently 29.08%.

Northrop Grumman declared that its board has approved a stock repurchase program on Wednesday, December 11th that authorizes the company to buyback $3.00 billion in outstanding shares. This buyback authorization authorizes the aerospace company to buy up to 4.3% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s leadership believes its shares are undervalued.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. StockNews.com downgraded shares of Northrop Grumman from a “strong-buy” rating to a “buy” rating in a research report on Monday, February 3rd. Truist Financial started coverage on Northrop Grumman in a report on Tuesday, January 14th. They issued a “buy” rating and a $544.00 price target for the company. Susquehanna dropped their price objective on Northrop Grumman from $625.00 to $557.00 and set a “positive” rating on the stock in a report on Wednesday, January 8th. Wolfe Research upgraded Northrop Grumman from an “underperform” rating to a “peer perform” rating in a research report on Monday, February 3rd. Finally, Wells Fargo & Company decreased their target price on Northrop Grumman from $574.00 to $545.00 and set an “overweight” rating on the stock in a research report on Wednesday. Nine equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat, Northrop Grumman has a consensus rating of “Moderate Buy” and a consensus price target of $542.75.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the company. Capital International Investors raised its stake in Northrop Grumman by 5.9% during the fourth quarter. Capital International Investors now owns 8,239,434 shares of the aerospace company’s stock worth $3,866,133,000 after purchasing an additional 461,307 shares during the period. Price T Rowe Associates Inc. MD raised its position in shares of Northrop Grumman by 28.5% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 2,030,644 shares of the aerospace company’s stock valued at $952,962,000 after buying an additional 450,858 shares during the period. Two Sigma Advisers LP lifted its holdings in Northrop Grumman by 102.6% in the third quarter. Two Sigma Advisers LP now owns 735,600 shares of the aerospace company’s stock valued at $388,448,000 after acquiring an additional 372,500 shares during the last quarter. First Trust Advisors LP grew its position in Northrop Grumman by 337.1% in the fourth quarter. First Trust Advisors LP now owns 482,112 shares of the aerospace company’s stock worth $226,250,000 after acquiring an additional 371,814 shares during the period. Finally, Raymond James Financial Inc. acquired a new stake in Northrop Grumman during the fourth quarter worth $171,580,000. Institutional investors and hedge funds own 83.40% of the company’s stock.

About Northrop Grumman

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.