Traders Sell Northrop Grumman Corp. (NOC) on Strength on Insider Selling
Investors sold shares of Northrop Grumman Corp. (NYSE:NOC) on strength during trading on Friday following insider selling activity. $45.99 million flowed into the stock on the tick-up and $73.70 million flowed out of the stock on the tick-down, for a money net flow of $27.71 million out of the stock. Of all equities tracked, Northrop Grumman Corp. had the 0th highest net out-flow for the day. Northrop Grumman Corp. traded up $1.22 for the day and closed at $215.43Specifically, VP Christopher T. Jones sold 240 shares of the company’s stock in a transaction dated Monday, August 1st. The stock was sold at an average price of $215.86, for a total value of $51,806.40. Following the completion of the sale, the vice president now directly owns 48,020 shares of the company’s stock, valued at approximately $10,365,597.20. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Kenneth L. Bedingfield sold 125 shares of the company’s stock in a transaction dated Monday, October 3rd. The shares were sold at an average price of $213.00, for a total value of $26,625.00. Following the completion of the sale, the chief financial officer now directly owns 18,501 shares of the company’s stock, valued at $3,940,713. The disclosure for this sale can be found here. 0.90% of the stock is owned by insiders.
A number of analysts recently issued reports on NOC shares. Vetr cut Northrop Grumman Corp. from a “buy” rating to a “hold” rating and set a $224.44 target price for the company. in a research note on Tuesday, June 28th. Cowen and Company reissued a “market perform” rating and set a $227.00 target price (up from $220.00) on shares of Northrop Grumman Corp. in a research note on Wednesday, June 15th. Jefferies Group increased their target price on Northrop Grumman Corp. from $233.00 to $250.00 and gave the stock a “buy” rating in a research note on Thursday, July 28th. Argus reissued a “buy” rating on shares of Northrop Grumman Corp. in a research note on Tuesday, August 2nd. Finally, JPMorgan Chase & Co. cut Northrop Grumman Corp. from an “overweight” rating to a “neutral” rating and increased their target price for the stock from $225.00 to $231.00 in a research note on Thursday, August 25th. 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 has a consensus rating of “Buy” and an average price target of $223.97.
The firm has a market capitalization of $38.47 billion, a price-to-earnings ratio of 19.38 and a beta of 0.72. The stock’s 50 day moving average is $213.57 and its 200 day moving average is $212.68.
Northrop Grumman Corp. (NYSE:NOC) last posted its quarterly earnings results on Wednesday, July 27th. The company reported $2.85 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.53 by $0.32. Northrop Grumman Corp. had a return on equity of 32.59% and a net margin of 8.67%. The business had revenue of $6 billion for the quarter, compared to analyst estimates of $5.99 billion. During the same period last year, the company earned $2.54 EPS. Northrop Grumman Corp.’s revenue for the quarter was up 1.8% compared to the same quarter last year. On average, analysts expect that Northrop Grumman Corp. will post $11.04 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Wednesday, September 14th. Investors of record on Monday, August 29th were given a dividend of $0.90 per share. The ex-dividend date of this dividend was Thursday, August 25th. This represents a $3.60 annualized dividend and a yield of 1.67%. Northrop Grumman Corp.’s payout ratio is 32.37%.
A number of institutional investors have recently bought and sold shares of NOC. Advisory Services Network LLC raised its position in Northrop Grumman Corp. by 38.3% in the third quarter. Advisory Services Network LLC now owns 2,402 shares of the company’s stock valued at $514,000 after buying an additional 665 shares during the last quarter. Central Bank & Trust Co. raised its position in Northrop Grumman Corp. by 2.7% in the third quarter. Central Bank & Trust Co. now owns 843 shares of the company’s stock valued at $180,000 after buying an additional 22 shares during the last quarter. New England Research & Management Inc. bought a new position in Northrop Grumman Corp. during the third quarter valued at about $440,000. Fulton Bank N.A. bought a new position in Northrop Grumman Corp. during the third quarter valued at about $587,000. Finally, Eqis Capital Management Inc. raised its position 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. Institutional investors and hedge funds own 82.52% of the company’s stock.
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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