Investors Sell Shares of Northrop Grumman (NOC) on Strength (NOC)
Traders sold shares of Northrop Grumman Co. (NYSE:NOC) on strength during trading on Wednesday. $183.66 million flowed into the stock on the tick-up and $213.46 million flowed out of the stock on the tick-down, for a money net flow of $29.80 million out of the stock. Of all stocks tracked, Northrop Grumman had the 33rd highest net out-flow for the day. Northrop Grumman traded up $10.16 for the day and closed at $337.66
A number of analysts have commented on NOC shares. Cowen reiterated a “hold” rating and set a $300.00 target price (up from $275.00) on shares of Northrop Grumman in a research report on Thursday, October 26th. Royal Bank of Canada set a $374.00 target price on Northrop Grumman and gave the stock a “buy” rating in a research report on Thursday, November 16th. Bank of America set a $350.00 price objective on Northrop Grumman and gave the company a “buy” rating in a research report on Friday, October 27th. Goldman Sachs Group set a $320.00 price objective on Northrop Grumman and gave the company a “buy” rating in a research report on Thursday, October 26th. Finally, Zacks Investment Research downgraded Northrop Grumman from a “buy” rating to a “hold” rating in a research report on Thursday, November 9th. Six analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $317.47.
The company has a debt-to-equity ratio of 2.04, a quick ratio of 2.24 and a current ratio of 2.35. The firm has a market cap of $57,910.00, a PE ratio of 29.01, a PEG ratio of 2.43 and a beta of 0.82.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 21st. Investors of record on Monday, March 5th will be paid a $1.10 dividend. This is a positive change from Northrop Grumman’s previous quarterly dividend of $1.00. This represents a $4.40 annualized dividend and a yield of 1.32%. The ex-dividend date of this dividend is Friday, March 2nd. Northrop Grumman’s dividend payout ratio is presently 34.87%.
In related news, COO Gloria A. Flach sold 7,741 shares of the company’s stock in a transaction on Monday, November 13th. The stock was sold at an average price of $296.45, for a total value of $2,294,819.45. Following the completion of the transaction, the chief operating officer now directly owns 77,200 shares in the company, valued at $22,885,940. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.70% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in NOC. Ropes Wealth Advisors LLC acquired a new position in Northrop Grumman in the third quarter valued at $144,000. WFG Advisors LP increased its stake in Northrop Grumman by 4.9% in the second quarter. WFG Advisors LP now owns 594 shares of the aerospace company’s stock valued at $152,000 after purchasing an additional 28 shares during the last quarter. Moisand Fitzgerald Tamayo LLC acquired a new stake in Northrop Grumman during the third quarter worth about $154,000. Crewe Advisors LLC acquired a new stake in Northrop Grumman during the fourth quarter worth about $159,000. Finally, Hanseatic Management Services Inc. increased its stake in Northrop Grumman by 39.7% during the third quarter. Hanseatic Management Services Inc. now owns 591 shares of the aerospace company’s stock worth $170,000 after acquiring an additional 168 shares during the last quarter. Hedge funds and other institutional investors own 81.23% of the company’s stock.
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Northrop Grumman Company Profile
Northrop Grumman Corporation is a global security company. The Company provides products, systems and solutions in autonomous systems; cyber; command, control, communications and computers, intelligence, surveillance and reconnaissance (C4ISR); strike, and logistics and modernization. The Company’s segments include Aerospace Systems, Mission Systems and Technology Services.
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