Northrop Grumman Co. (NYSE:NOC) Director Sells $15,842.64 in Stock

Northrop Grumman Co. (NYSE:NOC) Director Mark A. Welsh III sold 33 shares of the business’s stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $480.08, for a total transaction of $15,842.64. Following the transaction, the director now owns 4,106 shares in the company, valued at $1,971,208.48. The trade was a 0.80 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link.

Northrop Grumman Price Performance

Northrop Grumman stock traded down $6.05 during midday trading on Thursday, hitting $466.29. The company’s stock had a trading volume of 788,865 shares, compared to its average volume of 857,300. The company has a quick ratio of 0.91, a current ratio of 1.01 and a debt-to-equity ratio of 0.96. The stock’s 50-day moving average price is $477.78 and its 200-day moving average price is $499.22. Northrop Grumman Co. has a 12 month low of $418.60 and a 12 month high of $555.57. The company has a market capitalization of $67.50 billion, a PE ratio of 16.45, a price-to-earnings-growth ratio of 0.91 and a beta of 0.35.

Northrop Grumman (NYSE:NOC) last issued its earnings results on Thursday, January 30th. The aerospace company reported $6.39 earnings per share for the quarter, beating 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%. Analysts anticipate that Northrop Grumman Co. will post 28.04 earnings per share for the current fiscal year.

Northrop Grumman Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, December 18th. Stockholders of record on Monday, December 2nd were given a $2.06 dividend. The ex-dividend date of this dividend was Monday, December 2nd. This represents a $8.24 annualized dividend and a dividend yield of 1.77%. Northrop Grumman’s dividend payout ratio is 29.08%.

Northrop Grumman declared that its Board of Directors has approved a stock repurchase program on Wednesday, December 11th that permits the company to repurchase $3.00 billion in shares. This repurchase authorization permits the aerospace company to purchase up to 4.3% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s board of directors believes its shares are undervalued.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. Royal Bank of Canada boosted their price target on shares of Northrop Grumman from $500.00 to $540.00 and gave the company a “sector perform” rating in a research note on Friday, October 25th. Barclays reduced their price target on shares of Northrop Grumman from $550.00 to $500.00 and set an “equal weight” rating on the stock in a research note on Monday, January 6th. Citigroup upgraded shares of Northrop Grumman from a “neutral” rating to a “buy” rating and set a $587.00 price target for the company in a report on Tuesday, January 21st. Wolfe Research upgraded shares of Northrop Grumman from an “underperform” rating to a “peer perform” rating in a report on Monday. Finally, JPMorgan Chase & Co. boosted their price target on shares of Northrop Grumman from $500.00 to $560.00 and gave the stock a “neutral” rating in a report on Monday, October 14th. Nine analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat.com, Northrop Grumman currently has an average rating of “Moderate Buy” and an average price target of $544.31.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of NOC. Lockheed Martin Investment Management Co. boosted its holdings in Northrop Grumman by 19.9% during the fourth quarter. Lockheed Martin Investment Management Co. now owns 16,660 shares of the aerospace company’s stock worth $7,818,000 after buying an additional 2,770 shares during the last quarter. Trinity Street Asset Management LLP increased its position in shares of Northrop Grumman by 3.8% during the 4th quarter. Trinity Street Asset Management LLP now owns 48,367 shares of the aerospace company’s stock worth $22,698,000 after purchasing an additional 1,786 shares during the last quarter. Y Intercept Hong Kong Ltd acquired a new position in shares of Northrop Grumman during the 3rd quarter worth approximately $604,000. Fisher Asset Management LLC increased its position in shares of Northrop Grumman by 2.6% during the 3rd quarter. Fisher Asset Management LLC now owns 212,514 shares of the aerospace company’s stock worth $112,222,000 after purchasing an additional 5,334 shares during the last quarter. Finally, AIA Group Ltd increased its holdings in shares of Northrop Grumman by 20.0% during the 3rd quarter. AIA Group Ltd now owns 7,458 shares of the aerospace company’s stock worth $3,938,000 after acquiring an additional 1,242 shares during the last quarter. 83.40% of the stock is owned by institutional investors.

Northrop Grumman Company Profile

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.