Northrop Grumman (NYSE:NOC) Issues Earnings Results

Northrop Grumman (NYSE:NOC) issued its quarterly earnings data on Thursday. The aerospace company reported $7.00 EPS for the quarter, topping analysts’ consensus estimates of $6.07 by $0.93, RTT News reports. The firm had revenue of $10 billion during the quarter, compared to analyst estimates of $10.18 billion. Northrop Grumman had a return on equity of 25.44% and a net margin of 5.61%. The company’s revenue for the quarter was up 2.3% on a year-over-year basis. During the same period in the previous year, the company posted $6.18 EPS. Northrop Grumman updated its FY 2024 guidance to 25.650-26.050 EPS and its FY24 guidance to $25.65-26.05 EPS.

Northrop Grumman Stock Performance

NYSE NOC traded up $6.37 on Thursday, hitting $522.77. 80,326 shares of the company traded hands, compared to its average volume of 869,379. The company has a market capitalization of $77.36 billion, a price-to-earnings ratio of 36.11, a P/E/G ratio of 2.44 and a beta of 0.34. The company has a current ratio of 1.11, a quick ratio of 0.99 and a debt-to-equity ratio of 1.03. The business’s 50 day moving average price is $522.88 and its 200-day moving average price is $480.30. Northrop Grumman has a 52-week low of $418.60 and a 52-week high of $555.57.

Northrop Grumman Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 18th. Stockholders of record on Tuesday, September 3rd were paid a $2.06 dividend. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $8.24 dividend on an annualized basis and a dividend yield of 1.58%. Northrop Grumman’s dividend payout ratio (DPR) is currently 57.62%.

Insider Activity at Northrop Grumman

In related news, VP Thomas H. Jones sold 1,390 shares of Northrop Grumman stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $500.00, for a total transaction of $695,000.00. Following the transaction, the vice president now directly owns 4,634 shares in the company, valued at approximately $2,317,000. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Northrop Grumman news, VP Thomas H. Jones sold 1,389 shares of the business’s stock in a transaction that occurred on Friday, July 26th. The stock was sold at an average price of $477.56, for a total transaction of $663,330.84. Following the sale, the vice president now directly owns 6,755 shares of the company’s stock, valued at $3,225,917.80. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Thomas H. Jones sold 1,390 shares of the business’s stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $500.00, for a total value of $695,000.00. Following the transaction, the vice president now owns 4,634 shares of the company’s stock, valued at $2,317,000. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 2,879 shares of company stock worth $1,410,703. Corporate insiders own 0.22% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on NOC shares. Deutsche Bank Aktiengesellschaft raised Northrop Grumman from a “hold” rating to a “buy” rating and increased their price objective for the company from $474.00 to $575.00 in a report on Monday, July 29th. JPMorgan Chase & Co. upped their target price on Northrop Grumman from $500.00 to $560.00 and gave the stock a “neutral” rating in a research note on Monday, October 14th. Royal Bank of Canada upped their price objective on Northrop Grumman from $475.00 to $500.00 and gave the stock a “sector perform” rating in a report on Friday, July 26th. StockNews.com upgraded Northrop Grumman from a “hold” rating to a “buy” rating in a report on Friday, July 12th. Finally, UBS Group increased their target price on Northrop Grumman from $593.00 to $605.00 and gave the company a “buy” rating in a report on Friday, July 26th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $535.00.

Northrop Grumman Company Profile

Northrop Grumman Corporation operates as an aerospace and defense technology company in the United States, Asia/Pacific, Europe, and internationally. The company’s Aeronautics Systems segment designs, develops, manufactures, integrates, and sustains aircraft systems. This segment also offers unmanned autonomous aircraft systems, including high-altitude long-endurance strategic ISR systems and vertical take-off and landing tactical ISR systems; and strategic long-range strike aircraft, tactical fighter and air dominance aircraft, and airborne battle management and command and control systems.