Northrop Grumman Corporation Plans Quarterly Dividend of $0.90 (NOC)
Northrop Grumman Corporation (NYSE:NOC) announced a quarterly dividend on Thursday, February 16th. Shareholders of record on Monday, March 6th will be given a dividend of 0.90 per share on Wednesday, March 22nd. This represents a $3.60 annualized dividend and a yield of 1.48%.
Shares of Northrop Grumman Corporation (NYSE:NOC) opened at 243.53 on Friday. Northrop Grumman Corporation has a 52-week low of $185.08 and a 52-week high of $253.80. The stock has a market capitalization of $42.52 billion, a PE ratio of 19.98 and a beta of 0.69. The firm has a 50-day moving average of $233.08 and a 200 day moving average of $227.07.
Northrop Grumman Corporation (NYSE:NOC) last released its quarterly earnings data on Thursday, January 26th. The company reported $2.96 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.49 by $0.47. Northrop Grumman Corporation had a net margin of 8.98% and a return on equity of 35.74%. The firm earned $6.40 billion during the quarter, compared to analysts’ expectations of $5.92 billion. During the same period last year, the business earned $2.49 earnings per share. Northrop Grumman Corporation’s revenue was up 12.3% compared to the same quarter last year. Equities research analysts forecast that Northrop Grumman Corporation will post $11.89 EPS for the current fiscal year.
NOC has been the subject of several recent analyst reports. Barclays PLC upgraded shares of Northrop Grumman Corporation from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $230.00 to $270.00 in a research report on Thursday, November 10th. Jefferies Group LLC reiterated a “buy” rating and set a $260.00 price target (up from $250.00) on shares of Northrop Grumman Corporation in a research report on Friday, October 28th. Robert W. Baird reiterated an “outperform” rating and set a $260.00 price target on shares of Northrop Grumman Corporation in a research report on Friday, January 20th. Wolfe Research upgraded shares of Northrop Grumman Corporation from a “market perform” rating to an “outperform” rating in a research report on Friday, January 27th. Finally, Vetr upgraded shares of Northrop Grumman Corporation from a “hold” rating to a “buy” rating and set a $251.85 price target for the company in a research report on Thursday, December 8th. Six investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $249.15.
In related news, CFO Kenneth L. Bedingfield sold 125 shares of Northrop Grumman Corporation stock in a transaction that occurred on Thursday, December 1st. The shares were sold at an average price of $248.85, for a total value of $31,106.25. Following the completion of the transaction, the chief financial officer now owns 18,251 shares in the company, valued at $4,541,761.35. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Christopher T. Jones sold 240 shares of Northrop Grumman Corporation stock in a transaction that occurred on Thursday, December 1st. The stock was sold at an average price of $248.85, for a total transaction of $59,724.00. Following the completion of the transaction, the vice president now owns 47,060 shares of the company’s stock, valued at approximately $11,710,881. The disclosure for this sale can be found here. In the last three months, insiders sold 1,098 shares of company stock valued at $260,548. Insiders own 0.90% of the company’s stock.
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Northrop Grumman Corporation 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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