Northrop Grumman Corp. (NOC) CFO Kenneth L. Bedingfield Sells 125 Shares
Northrop Grumman Corp. (NYSE:NOC) CFO Kenneth L. Bedingfield sold 125 shares of the company’s stock in a transaction that occurred on Monday, October 3rd. The shares were sold at an average price of $213.00, for a total value of $26,625.00. Following the transaction, the chief financial officer now directly owns 18,501 shares of the company’s stock, valued at $3,940,713. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.
Shares of Northrop Grumman Corp. (NYSE:NOC) opened at 212.48 on Thursday. The stock’s 50 day moving average price is $213.77 and its 200-day moving average price is $212.52. Northrop Grumman Corp. has a 12 month low of $169.24 and a 12 month high of $224.12. The firm has a market cap of $37.94 billion, a P/E ratio of 19.11 and a beta of 0.72.
Northrop Grumman Corp. (NYSE:NOC) last released its earnings results on Wednesday, July 27th. The company reported $2.85 EPS for the quarter, topping analysts’ consensus estimates of $2.53 by $0.32. Northrop Grumman Corp. had a net margin of 8.67% and a return on equity of 32.59%. The firm earned $6 billion during the quarter, compared to analyst estimates of $5.99 billion. During the same quarter in the previous year, the business earned $2.54 EPS. The business’s quarterly revenue was up 1.8% compared to the same quarter last year. Equities research analysts anticipate that Northrop Grumman Corp. will post $11.04 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 14th. Shareholders of record on Monday, August 29th were issued a dividend of $0.90 per share. This represents a $3.60 dividend on an annualized basis and a yield of 1.69%. The ex-dividend date was Thursday, August 25th. Northrop Grumman Corp.’s dividend payout ratio is presently 32.37%.
Hedge funds have recently added to or reduced their stakes in the company. FMR LLC raised its stake in Northrop Grumman Corp. by 69.2% in the second quarter. FMR LLC now owns 4,262,441 shares of the company’s stock worth $947,455,000 after buying an additional 1,742,969 shares in the last quarter. Capital International Investors raised its stake in Northrop Grumman Corp. by 57.7% in the second quarter. Capital International Investors now owns 1,799,200 shares of the company’s stock worth $399,926,000 after buying an additional 658,300 shares in the last quarter. Wellington Management Group LLP raised its stake in Northrop Grumman Corp. by 21.7% in the first quarter. Wellington Management Group LLP now owns 3,362,671 shares of the company’s stock worth $665,472,000 after buying an additional 600,388 shares in the last quarter. Renaissance Technologies LLC acquired a new stake in Northrop Grumman Corp. during the first quarter worth approximately $77,676,000. Finally, Bank of Montreal Can acquired a new stake in Northrop Grumman Corp. during the second quarter worth approximately $76,299,000. 82.52% of the stock is owned by hedge funds and other institutional investors.
Several equities analysts have recently commented on the company. Robert W. Baird assumed coverage on Northrop Grumman Corp. in a report on Wednesday. They set an “outperform” rating for the company. Zacks Investment Research lowered Northrop Grumman Corp. from a “buy” rating to a “hold” rating in a report on Monday, August 1st. Vetr lowered Northrop Grumman Corp. from a “buy” rating to a “hold” rating and set a $224.44 price objective for the company. in a report on Wednesday, June 8th. Argus reissued a “buy” rating on shares of Northrop Grumman Corp. in a report on Tuesday, August 2nd. Finally, Cowen and Company reissued a “market perform” rating and issued a $227.00 price objective (up from $220.00) on shares of Northrop Grumman Corp. in a report on Wednesday, June 15th. Nine research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $221.72.
About Northrop Grumman Corp.
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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