Northrop Grumman Corp. (NOC) VP Christopher T. Jones Sells 240 Shares
Northrop Grumman Corp. (NYSE:NOC) VP Christopher T. Jones sold 240 shares of the firm’s stock in a transaction on Monday, October 3rd. The shares were sold at an average price of $213.00, for a total transaction of $51,120.00. Following the completion of the transaction, the vice president now directly owns 47,540 shares of the company’s stock, valued at approximately $10,126,020. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.
Shares of Northrop Grumman Corp. (NYSE:NOC) opened at 212.48 on Thursday. Northrop Grumman Corp. has a 52 week low of $169.24 and a 52 week high of $224.12. The firm has a market cap of $37.94 billion, a PE ratio of 19.11 and a beta of 0.72. The firm has a 50-day moving average of $213.77 and a 200 day moving average of $212.52.
Northrop Grumman Corp. (NYSE:NOC) last posted its earnings results on Wednesday, July 27th. The company reported $2.85 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.53 by $0.32. Northrop Grumman Corp. had a net margin of 8.67% and a return on equity of 32.59%. The firm earned $6 billion during the quarter, compared to analyst estimates of $5.99 billion. During the same quarter in the prior year, the business posted $2.54 EPS. The business’s revenue was up 1.8% compared to the same quarter last year. Equities research analysts predict that Northrop Grumman Corp. will post $11.04 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Wednesday, September 14th. Stockholders of record on Monday, August 29th were paid a $0.90 dividend. The ex-dividend date of this dividend was Thursday, August 25th. This represents a $3.60 annualized dividend and a dividend yield of 1.69%. Northrop Grumman Corp.’s payout ratio is 32.37%.
Several hedge funds have recently bought and sold shares of NOC. New England Research & Management Inc. purchased a new stake in Northrop Grumman Corp. during the third quarter valued at about $440,000. Fulton Bank N.A. purchased a new stake in Northrop Grumman Corp. during the third quarter valued at about $587,000. Eqis Capital Management Inc. raised its stake in Northrop Grumman Corp. by 62.8% in the third quarter. Eqis Capital Management Inc. now owns 1,832 shares of the company’s stock valued at $392,000 after buying an additional 707 shares during the last quarter. Washington Trust Bank raised its stake in Northrop Grumman Corp. by 2.3% in the third quarter. Washington Trust Bank now owns 1,112 shares of the company’s stock valued at $238,000 after buying an additional 25 shares during the last quarter. Finally, LVM Capital Management Ltd. MI raised its stake in Northrop Grumman Corp. by 53.5% in the third quarter. LVM Capital Management Ltd. MI now owns 6,025 shares of the company’s stock valued at $721,000 after buying an additional 2,100 shares during the last quarter. Hedge funds and other institutional investors own 82.52% of the company’s stock.
A number of research firms recently weighed in on NOC. Zacks Investment Research raised shares of Northrop Grumman Corp. from a “hold” rating to a “buy” rating and set a $248.00 target price for the company in a research report on Monday, July 4th. Jefferies Group raised their target price on shares of Northrop Grumman Corp. from $233.00 to $250.00 and gave the company a “buy” rating in a research report on Thursday, July 28th. Vetr cut shares of Northrop Grumman Corp. from a “buy” rating to a “hold” rating and set a $224.44 price target for the company. in a research note on Wednesday, June 8th. Cowen and Company reiterated a “market perform” rating and issued a $227.00 price target (up previously from $220.00) on shares of Northrop Grumman Corp. in a research note on Wednesday, June 15th. Finally, Argus reiterated a “buy” rating on shares of Northrop Grumman Corp. in a research note on Tuesday, August 2nd. Nine investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $221.72.
Northrop Grumman Corp. Company Profile
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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