Northrop Grumman (NYSE:NOC) Shares Gap Up - Here's What Happened

Northrop Grumman Corporation (NYSE:NOC - Get Free Report) gapped up before the market opened on Tuesday . The stock had previously closed at $515.29, but opened at $536.01. Northrop Grumman shares last traded at $555.67, with a volume of 304,774 shares.

Analyst Ratings Changes

Several brokerages have weighed in on NOC. Truist Financial cut their price target on Northrop Grumman from $600.00 to $550.00 and set a "buy" rating on the stock in a report on Wednesday, April 23rd. Sanford C. Bernstein reissued a "market perform" rating on shares of Northrop Grumman in a research report on Monday, July 14th. Morgan Stanley upped their target price on Northrop Grumman from $580.00 to $625.00 and gave the company an "overweight" rating in a research report on Wednesday, April 16th. Royal Bank Of Canada reaffirmed an "outperform" rating on shares of Northrop Grumman in a research report on Tuesday. Finally, Wall Street Zen cut Northrop Grumman from a "buy" rating to a "hold" rating in a research report on Thursday, April 24th. Nine investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $550.00.

Northrop Grumman Stock Performance

The firm has a market capitalization of $80.29 billion, a PE ratio of 22.01, a price-to-earnings-growth ratio of 6.17 and a beta of 0.15. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.95 and a quick ratio of 0.84. The stock has a 50-day moving average price of $492.64 and a 200-day moving average price of $487.55.

Northrop Grumman (NYSE:NOC - Get Free Report) last issued its earnings results on Tuesday, April 22nd. The aerospace company reported $6.06 EPS for the quarter, missing analysts' consensus estimates of $6.33 by ($0.27). Northrop Grumman had a net margin of 9.19% and a return on equity of 25.46%. The company had revenue of $9.47 billion during the quarter, compared to analyst estimates of $10.07 billion. On average, research analysts expect that Northrop Grumman Corporation will post 28.05 EPS for the current fiscal year.

Northrop Grumman Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 18th. Stockholders of record on Monday, June 2nd were given a dividend of $2.31 per share. The ex-dividend date was Monday, June 2nd. This is an increase from Northrop Grumman's previous quarterly dividend of $2.06. This represents a $9.24 annualized dividend and a dividend yield of 1.66%. Northrop Grumman's payout ratio is currently 36.46%.

Insider Activity at Northrop Grumman

In other Northrop Grumman news, VP Roshan S. Roeder sold 991 shares of the stock in a transaction on Wednesday, June 4th. The shares were sold at an average price of $490.00, for a total transaction of $485,590.00. Following the transaction, the vice president directly owned 319 shares of the company's stock, valued at $156,310. This represents a 75.65% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP Thomas H. Jones sold 729 shares of the stock in a transaction on Friday, June 13th. The stock was sold at an average price of $505.77, for a total transaction of $368,706.33. Following the transaction, the vice president directly owned 7,552 shares in the company, valued at $3,819,575.04. The trade was a 8.80% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 16,569 shares of company stock valued at $8,323,150. Insiders own 0.23% of the company's stock.

Institutional Investors Weigh In On Northrop Grumman

Hedge funds and other institutional investors have recently made changes to their positions in the business. Talbot Financial LLC lifted its stake in shares of Northrop Grumman by 22.4% in the second quarter. Talbot Financial LLC now owns 31,345 shares of the aerospace company's stock valued at $15,672,000 after buying an additional 5,743 shares during the period. Clarius Group LLC lifted its stake in shares of Northrop Grumman by 25.0% in the second quarter. Clarius Group LLC now owns 1,670 shares of the aerospace company's stock valued at $835,000 after buying an additional 334 shares during the period. Ameriflex Group Inc. lifted its stake in shares of Northrop Grumman by 3.6% in the second quarter. Ameriflex Group Inc. now owns 611 shares of the aerospace company's stock valued at $301,000 after buying an additional 21 shares during the period. Stock Yards Bank & Trust Co. lifted its stake in shares of Northrop Grumman by 17.5% in the second quarter. Stock Yards Bank & Trust Co. now owns 1,001 shares of the aerospace company's stock valued at $500,000 after buying an additional 149 shares during the period. Finally, Ascent Group LLC lifted its stake in Northrop Grumman by 13.4% during the second quarter. Ascent Group LLC now owns 5,860 shares of the aerospace company's stock worth $2,930,000 after purchasing an additional 692 shares during the period. 83.40% of the stock is owned by institutional investors and hedge funds.

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.

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