Northrop Grumman Co. (NYSE:NOC) Director Sells $15,842.64 in Stock

Northrop Grumman Co. (NYSE:NOC) Director Mark A. Welsh III sold 33 shares of the firm’s stock in a transaction on Wednesday, February 5th. The shares were sold at an average price of $480.08, for a total value of $15,842.64. Following the sale, the director now directly owns 4,106 shares of the company’s stock, valued at approximately $1,971,208.48. This represents a 0.80 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Northrop Grumman Trading Up 0.5 %

NOC stock opened at $468.75 on Friday. The company has a market capitalization of $67.86 billion, a PE ratio of 16.54, a price-to-earnings-growth ratio of 0.91 and a beta of 0.35. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.91 and a current ratio of 1.01. Northrop Grumman Co. has a one year low of $418.60 and a one year high of $555.57. The company’s 50 day moving average price is $477.33 and its two-hundred day moving average price is $498.99.

Northrop Grumman (NYSE:NOC) last posted its quarterly earnings results on Thursday, January 30th. The aerospace company reported $6.39 earnings per share 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%. As a group, analysts predict that Northrop Grumman Co. will post 28.04 earnings per share for the current fiscal year.

Northrop Grumman announced that its board has approved a share buyback plan 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 stock through open market purchases. Stock buyback plans are often a sign that the company’s leadership believes its stock is undervalued.

Northrop Grumman Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, December 18th. Shareholders of record on Monday, December 2nd were given a $2.06 dividend. The ex-dividend date of this dividend was Monday, December 2nd. This represents a $8.24 annualized dividend and a yield of 1.76%. Northrop Grumman’s payout ratio is currently 29.08%.

Hedge Funds Weigh In On Northrop Grumman

Hedge funds have recently modified their holdings of the company. RPg Family Wealth Advisory LLC purchased a new stake in shares of Northrop Grumman during the third quarter worth about $31,000. Whipplewood Advisors LLC purchased a new stake in Northrop Grumman in the 4th quarter worth approximately $31,000. FSA Wealth Management LLC purchased a new stake in Northrop Grumman in the 3rd quarter worth approximately $36,000. Albion Financial Group UT bought a new position in shares of Northrop Grumman during the fourth quarter valued at approximately $33,000. Finally, Catalyst Capital Advisors LLC bought a new stake in Northrop Grumman in the third quarter valued at $40,000. Hedge funds and other institutional investors own 83.40% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. Truist Financial assumed coverage on shares of Northrop Grumman in a research report on Tuesday, January 14th. They issued a “buy” rating and a $544.00 price objective on the stock. Citigroup upgraded Northrop Grumman from a “neutral” rating to a “buy” rating and set a $587.00 price objective on the stock in a research note on Tuesday, January 21st. Royal Bank of Canada upped their price target on Northrop Grumman from $500.00 to $540.00 and gave the company a “sector perform” rating in a research report on Friday, October 25th. StockNews.com lowered shares of Northrop Grumman from a “strong-buy” rating to a “buy” rating in a research report on Monday, February 3rd. Finally, Wolfe Research raised shares of Northrop Grumman from an “underperform” rating to a “peer perform” rating in a report on Monday, February 3rd. Nine equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $544.31.

About Northrop Grumman

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.