Northrop Grumman Co. (NYSE:NOC) Director Sells $15,630.78 in Stock

Northrop Grumman Co. (NYSE:NOC) Director Mark A. Welsh III sold 33 shares of the firm’s stock in a transaction that occurred on Wednesday, March 5th. The stock was sold at an average price of $473.66, for a total transaction of $15,630.78. Following the sale, the director now owns 4,073 shares of the company’s stock, valued at $1,929,217.18. This represents a 0.80 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Northrop Grumman Stock Performance

Shares of NOC stock opened at $487.22 on Friday. The company has a quick ratio of 0.91, a current ratio of 1.01 and a debt-to-equity ratio of 0.96. Northrop Grumman Co. has a 52 week low of $418.60 and a 52 week high of $555.57. The stock has a market capitalization of $70.53 billion, a PE ratio of 17.19, a P/E/G ratio of 3.73 and a beta of 0.31. The firm has a 50 day moving average of $469.88 and a two-hundred day moving average of $495.11.

Northrop Grumman (NYSE:NOC) last released its quarterly earnings data on Thursday, January 30th. The aerospace company reported $6.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.27 by $0.12. Northrop Grumman had a net margin of 10.17% and a return on equity of 26.24%. On average, research analysts predict that Northrop Grumman Co. will post 28.05 EPS for the current fiscal year.

Northrop Grumman Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 19th. Stockholders of record on Monday, March 3rd will be given a dividend of $2.06 per share. The ex-dividend date is Monday, March 3rd. This represents a $8.24 annualized dividend and a dividend yield of 1.69%. Northrop Grumman’s dividend payout ratio (DPR) is currently 29.08%.

Northrop Grumman announced that its board has initiated a stock buyback program on Wednesday, December 11th that permits the company to buyback $3.00 billion in shares. This buyback authorization permits the aerospace company to repurchase up to 4.3% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s management believes its shares are undervalued.

Institutional Investors Weigh In On Northrop Grumman

Several institutional investors have recently modified their holdings of NOC. RPg Family Wealth Advisory LLC purchased a new stake in shares of Northrop Grumman during the 3rd quarter worth $31,000. Whipplewood Advisors LLC acquired a new stake in Northrop Grumman during the 4th quarter worth $31,000. Wood Tarver Financial Group LLC acquired a new stake in Northrop Grumman during the 4th quarter worth $32,000. Albion Financial Group UT acquired a new stake in Northrop Grumman during the 4th quarter worth $33,000. Finally, Bellwether Advisors LLC acquired a new stake in Northrop Grumman during the 4th quarter worth $33,000. 83.40% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. StockNews.com downgraded shares of Northrop Grumman from a “strong-buy” rating to a “buy” rating in a report on Monday, February 3rd. Susquehanna lowered their price objective on shares of Northrop Grumman from $625.00 to $557.00 and set a “positive” rating for the company in a research report on Wednesday, January 8th. Wolfe Research raised shares of Northrop Grumman from an “underperform” rating to a “peer perform” rating in a research report on Monday, February 3rd. Truist Financial assumed coverage on shares of Northrop Grumman in a research report on Tuesday, January 14th. They set a “buy” rating and a $544.00 price objective for the company. Finally, Argus raised shares of Northrop Grumman to a “strong-buy” rating in a research report on Wednesday, February 26th. Nine investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $542.88.

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.