Northrop Grumman Corp. (NOC) Reaches New 1-Year High at $224.12
Northrop Grumman Corp. (NYSE:NOC) shares hit a new 52-week high during trading on Tuesday . The company traded as high as $224.12 and last traded at $219.74, with a volume of 1,472,778 shares changing hands. The stock had previously closed at $220.81.
NOC has been the subject of a number of analyst reports. Deutsche Bank AG reaffirmed a “buy” rating on shares of Northrop Grumman Corp. in a report on Monday, March 28th. Guggenheim initiated coverage on shares of Northrop Grumman Corp. in a report on Monday, April 4th. They issued a “buy” rating and a $226.00 price target for the company. Vetr lowered shares of Northrop Grumman Corp. from a “buy” rating to a “hold” rating and set a $208.72 price objective on the stock. in a research report on Monday, April 4th. Zacks Investment Research lowered shares of Northrop Grumman Corp. from a “hold” rating to a “sell” rating in a research report on Tuesday, April 5th. Finally, Goldman Sachs Group Inc. raised their target price on shares of Northrop Grumman Corp. from $219.00 to $233.00 and gave the stock a “buy” rating in a research report on Tuesday, April 12th. Seven equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Northrop Grumman Corp. presently has a consensus rating of “Buy” and an average price target of $217.03.
The stock has a 50-day moving average of $217.97 and a 200 day moving average of $201.98. The firm has a market capitalization of $40.16 billion and a PE ratio of 20.21.
Northrop Grumman Corp. (NYSE:NOC) last posted its earnings results on Wednesday, April 27th. The company reported $2.77 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.49 by $0.28. The business had revenue of $5.96 billion for the quarter, compared to analysts’ expectations of $5.92 billion. The business’s revenue was up .0% compared to the same quarter last year. During the same quarter last year, the business posted $2.41 earnings per share. Equities analysts forecast that Northrop Grumman Corp. will post $10.71 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 22nd. Shareholders of record on Monday, June 6th were issued a dividend of $0.90 per share. The ex-dividend date of this dividend was Thursday, June 2nd. This represents a $3.60 annualized dividend and a yield of 1.62%. This is a positive change from Northrop Grumman Corp.’s previous quarterly dividend of $0.80.
In other news, CAO Michael A. Hardesty sold 1,357 shares of Northrop Grumman Corp. stock in a transaction dated Wednesday, May 4th. The shares were sold at an average price of $209.53, for a total transaction of $284,332.21. Following the completion of the sale, the chief accounting officer now directly owns 11,370 shares in the company, valued at $2,382,356.10. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Christopher T. Jones sold 240 shares of Northrop Grumman Corp. stock in a transaction dated Friday, July 1st. The stock was sold at an average price of $222.50, for a total transaction of $53,400.00. Following the sale, the vice president now owns 48,260 shares of the company’s stock, valued at $10,737,850. The disclosure for this sale can be found here.
Other large investors have recently modified their holdings of the company. State of Tennessee Treasury Department increased its stake in shares of Northrop Grumman Corp. by 14.7% in the fourth quarter. State of Tennessee Treasury Department now owns 243,880 shares of the company’s stock worth $46,047,000 after buying an additional 31,281 shares during the period. Roosevelt Investment Group Inc. purchased a new stake in shares of Northrop Grumman Corp. during the fourth quarter worth approximately $20,849,000. Oakmont Corp purchased a new stake in shares of Northrop Grumman Corp. during the fourth quarter worth approximately $53,586,000. Dimensional Fund Advisors LP increased its stake in shares of Northrop Grumman Corp. by 1.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,203,959 shares of the company’s stock worth $227,324,000 after buying an additional 12,838 shares during the period. Finally, Matarin Capital Management LLC purchased a new stake in shares of Northrop Grumman Corp. during the fourth quarter worth approximately $4,362,000.
Northrop Grumman Corporation (Northrop Grumman) is a global security company. The Company provides systems, products and solutions in unmanned systems; cyber; command, control, communications and computers (C4), intelligence, surveillance, and reconnaissance (C4ISR); strike aircraft, and logistics and modernization to Government and commercial customers across the world.
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