Northrop Grumman (NYSE:NOC) Director Sells 98 Shares of Company Stock

Key Points

• Director Mark Welsh III sold 98 Northrop Grumman shares for approximately $54,454 under a pre-arranged Rule 10b5-1 plan, reducing his ownership by 2.22% to 4,314 shares.
• Northrop Grumman reported quarterly EPS of $7.89, beating estimates of $7.18, while revenue rose 6.7% year over year to $11.12 billion. The company also pays a quarterly dividend of $2.47 per share, equivalent to a 1.8% yield.
• Analysts maintain a generally positive outlook, with a consensus “Moderate Buy” rating and an average price target of $643.74 versus the stock’s reported price of $551.59; institutional investors own 83.4% of shares.

Northrop Grumman Corporation (NYSE:NOC - Get Free Report) Director Mark Welsh III sold 98 shares of the company's stock in a transaction on Monday, November 2nd. The stock was sold at an average price of $555.65, for a total value of $54,453.70. Following the completion of the sale, the director owned 4,314 shares of the company's stock, valued at $2,397,074.10. This trade represents a 2.22% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Northrop Grumman Stock Performance

NYSE NOC traded down $3.73 on Tuesday, hitting $551.59. 190,961 shares of the company traded hands, compared to its average volume of 923,449. The business's 50 day moving average price is $520.57 and its 200-day moving average price is $591.43. Northrop Grumman Corporation has a 52-week low of $470.06 and a 52-week high of $774.00. The company has a current ratio of 1.23, a quick ratio of 1.14 and a debt-to-equity ratio of 0.77. The company has a market capitalization of $78.36 billion, a price-to-earnings ratio of 17.40, a P/E/G ratio of 3.02 and a beta of -0.13.

Northrop Grumman (NYSE:NOC - Get Free Report) last issued its quarterly earnings results on Tuesday, October 20th. The aerospace company reported $7.89 EPS for the quarter, topping analysts' consensus estimates of $7.18 by $0.71. Northrop Grumman had a return on equity of 23.46% and a net margin of 10.37%. The business had revenue of $11.12 billion during the quarter, compared to analysts' expectations of $11.14 billion. During the same quarter in the prior year, the business posted $7.67 earnings per share. The business's quarterly revenue was up 6.7% on a year-over-year basis. Equities analysts expect that Northrop Grumman Corporation will post 29.64 earnings per share for the current year.

Northrop Grumman Announces Dividend

The company also recently declared 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 yield of 1.8%. Northrop Grumman's payout ratio is currently 31.17%.

Analysts Set New Price Targets

Several analysts have recently commented on NOC shares. BNP Paribas Exane raised their price objective on shares of Northrop Grumman from $540.00 to $600.00 and gave the company an "outperform" rating in a research report on Wednesday, October 21st. Royal Bank Of Canada increased their price target on Northrop Grumman from $525.00 to $550.00 and gave the stock a "sector perform" rating in a research note on Wednesday, October 21st. Deutsche Bank Aktiengesellschaft set a $615.00 price objective on Northrop Grumman and gave the company a "buy" rating in a research report on Wednesday, July 22nd. UBS Group upped their price objective on Northrop Grumman from $694.00 to $698.00 and gave the stock a "buy" rating in a research note on Wednesday, October 21st. Finally, Morgan Stanley increased their target price on Northrop Grumman from $745.00 to $765.00 and gave the stock an "overweight" rating in a research report on Wednesday, October 21st. Fifteen analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $643.74.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Verus Capital Partners LLC grew its holdings in Northrop Grumman by 1.1% during the third quarter. Verus Capital Partners LLC now owns 12,828 shares of the aerospace company's stock worth $6,202,000 after acquiring an additional 145 shares during the period. Asset Dedication LLC lifted its holdings in Northrop Grumman by 17.4% in the third quarter. Asset Dedication LLC now owns 1,487 shares of the aerospace company's stock valued at $719,000 after acquiring an additional 220 shares during the period. United Advisor Group LLC lifted its holdings in Northrop Grumman by 13.6% in the third quarter. United Advisor Group LLC now owns 1,359 shares of the aerospace company's stock valued at $657,000 after acquiring an additional 163 shares during the period. May Hill Capital LLC boosted its position in Northrop Grumman by 9.4% in the 3rd quarter. May Hill Capital LLC now owns 641 shares of the aerospace company's stock worth $310,000 after purchasing an additional 55 shares in the last quarter. Finally, Alps Advisors Inc. boosted its position in Northrop Grumman by 9.1% in the 3rd quarter. Alps Advisors Inc. now owns 6,681 shares of the aerospace company's stock worth $3,230,000 after purchasing an additional 559 shares in the last quarter. 83.40% of the stock is owned by hedge funds and other institutional investors.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.