Northrop Grumman Corp. (NOC) VP Christopher T. Jones Sells 240 Shares of Stock
Northrop Grumman Corp. (NYSE:NOC) VP Christopher T. Jones sold 240 shares of the company’s stock in a transaction that occurred on Monday, October 3rd. The stock was sold at an average price of $213.00, for a total transaction of $51,120.00. Following the sale, the vice president now owns 47,540 shares in the company, valued at $10,126,020. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.
Northrop Grumman Corp. (NYSE:NOC) traded down 0.60% during midday trading on Friday, hitting $212.93. The stock had a trading volume of 263,648 shares. The company has a 50-day moving average of $213.65 and a 200-day moving average of $212.53. The stock has a market cap of $38.02 billion, a price-to-earnings ratio of 19.16 and a beta of 0.72. Northrop Grumman Corp. has a 1-year low of $172.40 and a 1-year high of $224.12.
Northrop Grumman Corp. (NYSE:NOC) last issued its quarterly earnings data on Wednesday, July 27th. The company reported $2.85 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.53 by $0.32. Northrop Grumman Corp. had a return on equity of 32.59% and a net margin of 8.67%. The company earned $6 billion during the quarter, compared to analysts’ expectations of $5.99 billion. During the same quarter in the previous year, the company posted $2.54 earnings per share. The business’s revenue was up 1.8% on a year-over-year basis. Equities research analysts forecast that Northrop Grumman Corp. will post $11.04 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Wednesday, September 14th. Investors of record on Monday, August 29th were paid a $0.90 dividend. This represents a $3.60 annualized dividend and a dividend yield of 1.68%. The ex-dividend date was Thursday, August 25th. Northrop Grumman Corp.’s dividend payout ratio (DPR) is currently 32.37%.
A number of analysts recently weighed in on NOC shares. Vetr lowered shares of Northrop Grumman Corp. from a “buy” rating to a “hold” rating and set a $224.44 target price on the stock. in a research note on Tuesday, June 28th. Cowen and Company restated a “market perform” rating and set a $227.00 target price (up from $220.00) on shares of Northrop Grumman Corp. in a research note on Wednesday, June 15th. Jefferies Group increased their price target on shares of Northrop Grumman Corp. from $233.00 to $250.00 and gave the company a “buy” rating in a research note on Thursday, July 28th. Argus reiterated a “buy” rating on shares of Northrop Grumman Corp. in a research note on Tuesday, August 2nd. Finally, JPMorgan Chase & Co. lowered shares of Northrop Grumman Corp. from an “overweight” rating to a “neutral” rating and increased their price target for the company from $225.00 to $231.00 in a research note on Thursday, August 25th. Nine analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $223.97.
Several large investors have recently modified their holdings of NOC. Virginia Retirement System bought a new stake in shares of Northrop Grumman Corp. during the first quarter valued at about $556,000. Pacad Investment Ltd. bought a new stake in shares of Northrop Grumman Corp. during the first quarter valued at about $891,000. Shufro Rose & Co. LLC bought a new stake in shares of Northrop Grumman Corp. during the first quarter valued at about $281,000. ING Groep NV boosted its stake in shares of Northrop Grumman Corp. by 82.9% in the first quarter. ING Groep NV now owns 4,107 shares of the company’s stock valued at $813,000 after buying an additional 1,862 shares during the period. Finally, Aviva PLC boosted its stake in shares of Northrop Grumman Corp. by 3.1% in the first quarter. Aviva PLC now owns 158,364 shares of the company’s stock valued at $31,341,000 after buying an additional 4,708 shares during the period. Institutional investors and hedge funds own 82.52% of the company’s stock.
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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