Northrop Grumman Co. (NYSE:NOC) VP Sells $82,383.36 in Stock

Northrop Grumman Co. (NYSE:NOC) VP Benjamin R. Davies sold 192 shares of the stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $429.08, for a total transaction of $82,383.36. Following the completion of the sale, the vice president now directly owns 709 shares of the company’s stock, valued at $304,217.72. This represents a 21.31 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.

Northrop Grumman Trading Up 0.5 %

Northrop Grumman stock traded up $2.02 during midday trading on Monday, reaching $449.98. The stock had a trading volume of 1,452,615 shares, compared to its average volume of 972,283. Northrop Grumman Co. has a 52-week low of $418.60 and a 52-week high of $555.57. The company has a fifty day moving average of $471.03 and a 200 day moving average of $497.58. The firm has a market cap of $65.14 billion, a price-to-earnings ratio of 15.88, a price-to-earnings-growth ratio of 3.73 and a beta of 0.35. The company has a quick ratio of 0.91, a current ratio of 1.01 and a debt-to-equity ratio of 0.96.

Northrop Grumman (NYSE:NOC) last issued its quarterly earnings results on Thursday, January 30th. The aerospace company reported $6.39 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $6.27 by $0.12. Northrop Grumman had a return on equity of 26.24% and a net margin of 10.17%. On average, analysts anticipate that Northrop Grumman Co. will post 28.05 earnings per share for the current fiscal year.

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

Northrop Grumman Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 19th. Shareholders of record on Monday, March 3rd will be issued a dividend of $2.06 per share. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $8.24 annualized dividend and a yield of 1.83%. Northrop Grumman’s payout ratio is currently 29.08%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. RPg Family Wealth Advisory LLC purchased a new position in Northrop Grumman in the third quarter valued at $31,000. Whipplewood Advisors LLC purchased a new position in Northrop Grumman in the 4th quarter worth approximately $31,000. Albion Financial Group UT purchased a new position in Northrop Grumman during the fourth quarter worth approximately $33,000. Bellwether Advisors LLC acquired a new position in shares of Northrop Grumman during the 4th quarter valued at about $33,000. Finally, FSA Wealth Management LLC acquired a new position in Northrop Grumman in the third quarter valued at approximately $36,000. 83.40% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on NOC shares. Citigroup boosted their price target on Northrop Grumman from $587.00 to $591.00 and gave the stock a “buy” rating in a report on Monday, February 10th. UBS Group reduced their price target on shares of Northrop Grumman from $579.00 to $558.00 and set a “buy” rating on the stock in a report on Friday, January 31st. Wells Fargo & Company decreased their price target on shares of Northrop Grumman from $595.00 to $574.00 and set an “overweight” rating on the stock in a research note on Friday, January 31st. Truist Financial began coverage on Northrop Grumman in a report on Tuesday, January 14th. They issued a “buy” rating and a $544.00 target price on the stock. Finally, Wolfe Research upgraded Northrop Grumman from an “underperform” rating to a “peer perform” rating in a report on Monday, February 3rd. Nine investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $544.56.

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.