Northrop Grumman (NYSE:NOC) Stock: Insider Mark Welsh III Sells 98 Shares

Northrop Grumman Corporation (NYSE:NOC) Director Mark Welsh III sold 98 shares of the business’s stock in a transaction dated Monday, November 2nd. The stock was sold at an average price of $555.65, for a total value of $54,453.70. Following the transaction, the director directly owned 4,314 shares of the company’s stock, valued at approximately $2,397,074.10. This represents a 2.22% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Northrop Grumman Stock Down 4.6%

Shares of NYSE NOC opened at $524.72 on Thursday. The company has a market capitalization of $74.54 billion, a price-to-earnings ratio of 16.55, a price-to-earnings-growth ratio of 2.96 and a beta of -0.13. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.23 and a quick ratio of 1.14. The business has a 50-day moving average of $520.23 and a two-hundred day moving average of $590.26. Northrop Grumman Corporation has a 1 year low of $470.06 and a 1 year high of $774.00.

Northrop Grumman (NYSE:NOC) last released its quarterly earnings data on Tuesday, October 20th. The aerospace company reported $7.89 earnings per share for the quarter, topping analysts’ consensus estimates of $7.18 by $0.71. Northrop Grumman had a net margin of 10.37% and a return on equity of 23.46%. The company had revenue of $11.12 billion for the quarter, compared to analysts’ expectations of $11.14 billion. During the same quarter last year, the company earned $7.67 earnings per share. The firm’s revenue for the quarter was up 6.7% on a year-over-year basis. On average, analysts forecast that Northrop Grumman Corporation will post 29.64 earnings per share for the current fiscal year.

Northrop Grumman Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 16th. Shareholders of record on Monday, August 31st were issued a dividend of $2.47 per share. The ex-dividend date of this dividend was Monday, August 31st. This represents a $9.88 annualized dividend and a dividend yield of 1.9%. Northrop Grumman’s dividend payout ratio (DPR) is presently 31.17%.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the company. The Goldman Sachs Group boosted their target price on Northrop Grumman from $533.00 to $538.00 and gave the company a “neutral” rating in a report on Monday, July 27th. Jefferies Financial Group reaffirmed a “hold” rating and set a $585.00 price target on shares of Northrop Grumman in a research report on Sunday, October 25th. Deutsche Bank Aktiengesellschaft set a $615.00 price objective on Northrop Grumman and gave the company a “buy” rating in a research note on Wednesday, July 22nd. Rothschild & Co Redburn began coverage on Northrop Grumman in a report on Tuesday, October 6th. They issued a “buy” rating and a $680.00 price objective for the company. Finally, JPMorgan Chase & Co. raised their target price on shares of Northrop Grumman from $600.00 to $605.00 and gave the stock a “neutral” rating in a research report on Monday, October 26th. Fifteen investment analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $643.74.

Hedge Funds Weigh In On Northrop Grumman

A number of hedge funds and other institutional investors have recently made changes to their positions in NOC. Cornerstone Wealth Management LLC increased its stake in Northrop Grumman by 15.0% in the 3rd quarter. Cornerstone Wealth Management LLC now owns 3,283 shares of the aerospace company’s stock valued at $1,587,000 after purchasing an additional 428 shares in the last quarter. Gables Capital Management Inc. raised its holdings in Northrop Grumman by 14.6% during the third quarter. Gables Capital Management Inc. now owns 1,763 shares of the aerospace company’s stock worth $852,000 after purchasing an additional 225 shares during the last quarter. 71 West Capital Partners boosted its position in Northrop Grumman by 16.9% during the third quarter. 71 West Capital Partners now owns 1,190 shares of the aerospace company’s stock worth $575,000 after purchasing an additional 172 shares in the last quarter. Pinion Investment Advisors LLC boosted its position in Northrop Grumman by 14.6% during the third quarter. Pinion Investment Advisors LLC now owns 541 shares of the aerospace company’s stock worth $262,000 after purchasing an additional 69 shares in the last quarter. Finally, Gryphon Financial Partners LLC boosted its position in Northrop Grumman by 12.8% during the third quarter. Gryphon Financial Partners LLC now owns 725 shares of the aerospace company’s stock worth $350,000 after purchasing an additional 82 shares in the last quarter. Hedge funds and other institutional investors own 83.40% of the company’s stock.

About Northrop Grumman

Northrop Grumman Corporation (NYSE:NOC) is a global aerospace and defense company that develops and produces systems for government and commercial customers, with the U.S. government representing its primary customer base. The company operates across aerospace, defense, space, cybersecurity and advanced technology markets.

Its products and services include military aircraft and autonomous systems, space systems and satellites, missile defense technologies, command-and-control systems, cyber solutions, sensors, communications networks and other mission-critical systems.