Alembic Global Advisors upgraded shares of Northrop Grumman (NYSE:NOC) from a neutral rating to an overweight rating in a research report sent to investors on Tuesday, April 30th, FinViz reports.
NOC has been the topic of a number of other research reports. Credit Suisse Group reiterated a buy rating on shares of Northrop Grumman in a research report on Thursday, January 31st. Zacks Investment Research cut shares of Northrop Grumman from a buy rating to a hold rating in a research report on Wednesday, February 13th. ValuEngine cut shares of Northrop Grumman from a hold rating to a sell rating in a research report on Friday, January 4th. Morgan Stanley boosted their price objective on shares of Northrop Grumman from $305.00 to $308.00 and gave the company an equal weight rating in a research report on Wednesday, February 13th. Finally, Cowen reiterated a hold rating and set a $300.00 price objective on shares of Northrop Grumman in a research report on Thursday, January 31st. Six investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. The stock has a consensus rating of Buy and a consensus target price of $333.06.
Northrop Grumman stock traded up $0.39 during mid-day trading on Tuesday, reaching $316.63. 845,179 shares of the company’s stock traded hands, compared to its average volume of 981,025. The company has a market cap of $53.40 billion, a price-to-earnings ratio of 14.84, a PEG ratio of 1.23 and a beta of 0.89. The company has a quick ratio of 1.10, a current ratio of 1.18 and a debt-to-equity ratio of 1.59. Northrop Grumman has a 12-month low of $223.63 and a 12-month high of $340.14.
Northrop Grumman (NYSE:NOC) last released its quarterly earnings results on Wednesday, April 24th. The aerospace company reported $5.06 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $4.59 by $0.47. The company had revenue of $8.19 billion for the quarter, compared to the consensus estimate of $8.34 billion. Northrop Grumman had a net margin of 9.67% and a return on equity of 41.42%. Northrop Grumman’s revenue was up 21.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $4.21 earnings per share. On average, equities research analysts anticipate that Northrop Grumman will post 19.39 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 19th. Shareholders of record on Monday, June 3rd will be issued a dividend of $1.32 per share. This represents a $5.28 annualized dividend and a yield of 1.67%. This is a boost from Northrop Grumman’s previous quarterly dividend of $1.20. The ex-dividend date is Friday, May 31st. Northrop Grumman’s dividend payout ratio is presently 22.50%.
In other Northrop Grumman news, VP Mark A. Caylor sold 1,065 shares of the stock in a transaction dated Thursday, February 21st. The shares were sold at an average price of $286.84, for a total transaction of $305,484.60. Following the completion of the sale, the vice president now directly owns 29,345 shares of the company’s stock, valued at $8,417,319.80. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Mark A. Caylor sold 9,501 shares of the stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $285.45, for a total transaction of $2,712,060.45. Following the sale, the vice president now directly owns 25,280 shares of the company’s stock, valued at $7,216,176. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 83,100 shares of company stock worth $24,169,396. 0.45% of the stock is owned by company insiders.
Hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc raised its position in shares of Northrop Grumman by 1.3% in the 3rd quarter. Vanguard Group Inc now owns 13,591,668 shares of the aerospace company’s stock valued at $4,313,588,000 after purchasing an additional 176,809 shares during the last quarter. Massachusetts Financial Services Co. MA raised its position in Northrop Grumman by 7.5% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 5,072,281 shares of the aerospace company’s stock worth $1,242,203,000 after buying an additional 355,364 shares during the last quarter. Macquarie Group Ltd. raised its position in Northrop Grumman by 2.2% during the 1st quarter. Macquarie Group Ltd. now owns 2,572,295 shares of the aerospace company’s stock worth $693,492,000 after buying an additional 55,326 shares during the last quarter. Geode Capital Management LLC raised its position in Northrop Grumman by 6.4% during the 1st quarter. Geode Capital Management LLC now owns 2,131,112 shares of the aerospace company’s stock worth $573,495,000 after buying an additional 128,639 shares during the last quarter. Finally, TIAA CREF Investment Management LLC raised its position in Northrop Grumman by 0.7% during the 3rd quarter. TIAA CREF Investment Management LLC now owns 1,847,391 shares of the aerospace company’s stock worth $586,306,000 after buying an additional 12,079 shares during the last quarter. 83.67% of the stock is owned by institutional investors and hedge funds.
Northrop Grumman Company Profile
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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