Northrop Grumman Corp. (NOC) Hits New 12-Month High at $223.80
Shares of Northrop Grumman Corp. (NYSE:NOC) hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $223.80 and last traded at $222.59, with a volume of 440,569 shares changing hands. The stock had previously closed at $221.97.
Several analysts have issued reports on the company. Vetr raised Northrop Grumman Corp. from a “hold” rating to a “buy” rating and set a $208.72 target price on the stock in a research report on Monday, April 18th. Zacks Investment Research cut Northrop Grumman Corp. from a “hold” rating to a “sell” rating in a research report on Monday, April 11th. Deutsche Bank AG increased their target price on Northrop Grumman Corp. from $214.00 to $220.00 and gave the company a “buy” rating in a research report on Thursday, April 7th. Royal Bank Of Canada cut Northrop Grumman Corp. from an “outperform” rating to a “sector perform” rating and set a $222.00 target price on the stock. in a research report on Thursday, May 19th. They noted that the move was a valuation call. Finally, Citigroup Inc. increased their target price on Northrop Grumman Corp. from $215.00 to $235.00 and gave the company a “buy” rating in a research report on Wednesday, April 27th. Seven research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Northrop Grumman Corp. currently has an average rating of “Buy” and an average price target of $217.03.
The stock has a 50-day moving average price of $216.76 and a 200 day moving average price of $200.77. The stock has a market capitalization of $39.78 billion and a P/E ratio of 20.02.
Northrop Grumman Corp. (NYSE:NOC) last posted its quarterly earnings results on Wednesday, April 27th. The company reported $2.77 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $2.49 by $0.28. The business earned $5.96 billion during the quarter, compared to analyst estimates of $5.92 billion. During the same quarter last year, the firm earned $2.41 EPS. The business’s revenue was up .0% on a year-over-year basis. Equities research analysts forecast that Northrop Grumman Corp. will post $10.70 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 22nd. Shareholders of record on Monday, June 6th were paid a $0.90 dividend. The ex-dividend date was Thursday, June 2nd. This represents a $3.60 annualized dividend and a dividend yield of 1.62%. This is a positive change from Northrop Grumman Corp.’s previous quarterly dividend of $0.80.
In other Northrop Grumman Corp. news, VP Christopher T. Jones sold 240 shares of the business’s stock in a transaction on Friday, July 1st. The shares were sold at an average price of $222.50, for a total value of $53,400.00. Following the completion of the transaction, the vice president now owns 48,260 shares in the company, valued at $10,737,850. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Kenneth L. Bedingfield sold 1,679 shares of the business’s stock in a transaction on Monday, May 2nd. The stock was sold at an average price of $206.94, for a total transaction of $347,452.26. Following the completion of the transaction, the chief financial officer now owns 18,751 shares of the company’s stock, valued at approximately $3,880,331.94. The disclosure for this sale can be found here.
Several institutional investors have recently modified their holdings of NOC. Oakmont Corp purchased a new position in shares of Northrop Grumman Corp. during the fourth quarter worth approximately $53,586,000. Rovida Advisors Inc. purchased a new position in shares of Northrop Grumman Corp. during the fourth quarter worth approximately $40,206,000. Cypress Funds LLC purchased a new position in shares of Northrop Grumman Corp. during the fourth quarter worth approximately $24,073,000. State of New Jersey Common Pension Fund D increased its position in shares of Northrop Grumman Corp. by 1,400.0% in the fourth quarter. State of New Jersey Common Pension Fund D now owns 75,000 shares of the company’s stock worth $14,161,000 after buying an additional 70,000 shares during the last quarter. Finally, WBI Investments Inc. increased its position in shares of Northrop Grumman Corp. by 474.4% in the fourth quarter. WBI Investments Inc. now owns 54,900 shares of the company’s stock worth $10,365,000 after buying an additional 45,342 shares during the last quarter.
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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