Mark A. Welsh III Sells 33 Shares of Northrop Grumman Co. (NYSE:NOC) Stock

Northrop Grumman Co. (NYSE:NOC) Director Mark A. Welsh III sold 33 shares of the company’s stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $456.74, for a total transaction of $15,072.42. Following the completion of the sale, the director now directly owns 4,139 shares of the company’s stock, valued at $1,890,446.86. This represents a 0.79 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link.

Northrop Grumman Stock Performance

Shares of NOC stock opened at $462.68 on Thursday. The firm has a 50 day moving average of $486.64 and a two-hundred day moving average of $492.21. The stock has a market capitalization of $67.41 billion, a PE ratio of 28.67, a P/E/G ratio of 0.97 and a beta of 0.35. The company has a quick ratio of 0.97, a current ratio of 1.09 and a debt-to-equity ratio of 1.00. Northrop Grumman Co. has a 52 week low of $418.60 and a 52 week high of $555.57.

Northrop Grumman (NYSE:NOC) last released its earnings results on Thursday, October 24th. The aerospace company reported $7.00 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $6.07 by $0.93. Northrop Grumman had a return on equity of 26.57% and a net margin of 5.79%. The firm had revenue of $10 billion during the quarter, compared to analyst estimates of $10.18 billion. During the same period last year, the business posted $6.18 earnings per share. Northrop Grumman’s revenue was up 2.3% compared to the same quarter last year. On average, research analysts predict that Northrop Grumman Co. will post 25.93 EPS for the current fiscal year.

Northrop Grumman declared that its board has approved a stock repurchase program on Wednesday, December 11th that permits the company to buyback $3.00 billion in shares. This buyback authorization permits the aerospace company to reacquire up to 4.3% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s leadership believes its stock is undervalued.

Northrop Grumman Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, December 18th. Investors of record on Monday, December 2nd were issued a $2.06 dividend. The ex-dividend date was Monday, December 2nd. This represents a $8.24 annualized dividend and a yield of 1.78%. Northrop Grumman’s dividend payout ratio (DPR) is 51.05%.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on NOC shares. StockNews.com upgraded shares of Northrop Grumman from a “buy” rating to a “strong-buy” rating in a report on Friday, January 3rd. UBS Group raised their target price on Northrop Grumman from $614.00 to $643.00 and gave the stock a “buy” rating in a research note on Friday, October 25th. Wells Fargo & Company upgraded Northrop Grumman from an “equal weight” rating to an “overweight” rating and set a $595.00 target price on the stock in a research report on Wednesday. TD Cowen upgraded Northrop Grumman to a “hold” rating in a report on Tuesday, October 8th. Finally, Susquehanna reduced their price objective on shares of Northrop Grumman from $625.00 to $557.00 and set a “positive” rating on the stock in a report on Wednesday. Nine investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $551.40.

Institutional Investors Weigh In On Northrop Grumman

Large investors have recently modified their holdings of the company. Ascent Group LLC grew its stake in shares of Northrop Grumman by 0.5% during the second quarter. Ascent Group LLC now owns 4,337 shares of the aerospace company’s stock worth $1,891,000 after purchasing an additional 20 shares in the last quarter. Cornell Pochily Investment Advisors Inc. boosted its position in shares of Northrop Grumman by 0.9% during the 3rd quarter. Cornell Pochily Investment Advisors Inc. now owns 2,141 shares of the aerospace company’s stock worth $1,131,000 after acquiring an additional 20 shares in the last quarter. Asset Dedication LLC increased its holdings in shares of Northrop Grumman by 1.0% in the 3rd quarter. Asset Dedication LLC now owns 2,025 shares of the aerospace company’s stock valued at $1,069,000 after acquiring an additional 20 shares during the last quarter. Foundations Investment Advisors LLC raised its position in shares of Northrop Grumman by 1.4% during the 3rd quarter. Foundations Investment Advisors LLC now owns 1,478 shares of the aerospace company’s stock worth $780,000 after acquiring an additional 20 shares in the last quarter. Finally, PBMares Wealth Management LLC lifted its stake in Northrop Grumman by 0.5% during the third quarter. PBMares Wealth Management LLC now owns 4,421 shares of the aerospace company’s stock worth $2,335,000 after purchasing an additional 20 shares during the last quarter. 83.40% of the stock is owned by hedge funds and other institutional investors.

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.