Northrop Grumman (NOC) Scheduled to Post Earnings on Thursday

Northrop Grumman (NYSE:NOC - Get Free Report) will be issuing its quarterly earnings data before the market opens on Thursday, April 25th. Analysts expect the company to announce earnings of $5.81 per share for the quarter. Northrop Grumman has set its FY24 guidance at $24.45-24.85 EPS.Parties that wish to register for the company's conference call can do so using this link.

Northrop Grumman (NYSE:NOC - Get Free Report) last posted its quarterly earnings results on Thursday, January 25th. The aerospace company reported $6.27 EPS for the quarter, topping the consensus estimate of $5.80 by $0.47. Northrop Grumman had a net margin of 5.23% and a return on equity of 23.07%. The company had revenue of $10.64 billion during the quarter, compared to analysts' expectations of $10.43 billion. During the same quarter in the previous year, the business posted $7.50 EPS. The firm's revenue was up 6.0% on a year-over-year basis. On average, analysts expect Northrop Grumman to post $25 EPS for the current fiscal year and $28 EPS for the next fiscal year.

Northrop Grumman Stock Up 0.1 %

NYSE NOC traded up $0.45 on Thursday, hitting $452.50. 844,177 shares of the stock were exchanged, compared to its average volume of 988,150. The company has a quick ratio of 1.05, a current ratio of 1.15 and a debt-to-equity ratio of 0.93. Northrop Grumman has a fifty-two week low of $414.56 and a fifty-two week high of $496.89. The company has a market cap of $67.06 billion, a PE ratio of 33.52, a PEG ratio of 1.81 and a beta of 0.35. The company has a 50-day moving average price of $459.54 and a 200-day moving average price of $464.20.

Northrop Grumman Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 13th. Shareholders of record on Monday, February 26th were issued a dividend of $1.87 per share. This represents a $7.48 annualized dividend and a yield of 1.65%. The ex-dividend date of this dividend was Friday, February 23rd. Northrop Grumman's dividend payout ratio (DPR) is presently 55.49%.

Insider Activity at Northrop Grumman

In other Northrop Grumman news, CAO Michael A. Hardesty sold 210 shares of the firm's stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $454.68, for a total transaction of $95,482.80. Following the sale, the chief accounting officer now directly owns 3,127 shares of the company's stock, valued at approximately $1,421,784.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CAO Michael A. Hardesty sold 210 shares of the firm's stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $454.68, for a total value of $95,482.80. Following the transaction, the chief accounting officer now owns 3,127 shares in the company, valued at $1,421,784.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, VP Kathryn G. Simpson sold 711 shares of the firm's stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $453.22, for a total transaction of $322,239.42. Following the completion of the transaction, the vice president now owns 2,024 shares in the company, valued at approximately $917,317.28. The disclosure for this sale can be found here. In the last three months, insiders have sold 3,149 shares of company stock valued at $1,421,147. Insiders own 0.22% of the company's stock.

Institutional Trading of Northrop Grumman

A number of hedge funds have recently made changes to their positions in the stock. Morgan Stanley grew its position in shares of Northrop Grumman by 3.5% during the fourth quarter. Morgan Stanley now owns 3,353,108 shares of the aerospace company's stock worth $1,829,490,000 after buying an additional 114,823 shares in the last quarter. Price T Rowe Associates Inc. MD grew its position in shares of Northrop Grumman by 30.1% during the first quarter. Price T Rowe Associates Inc. MD now owns 1,567,612 shares of the aerospace company's stock worth $723,799,000 after buying an additional 362,449 shares in the last quarter. Macquarie Group Ltd. grew its position in shares of Northrop Grumman by 7.7% during the first quarter. Macquarie Group Ltd. now owns 982,045 shares of the aerospace company's stock worth $453,430,000 after buying an additional 70,389 shares in the last quarter. Legal & General Group Plc grew its position in shares of Northrop Grumman by 24.0% during the fourth quarter. Legal & General Group Plc now owns 946,955 shares of the aerospace company's stock worth $443,308,000 after buying an additional 183,472 shares in the last quarter. Finally, Nuveen Asset Management LLC grew its position in shares of Northrop Grumman by 3.8% during the fourth quarter. Nuveen Asset Management LLC now owns 849,388 shares of the aerospace company's stock worth $397,632,000 after buying an additional 31,296 shares in the last quarter. Institutional investors and hedge funds own 83.40% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. TheStreet cut shares of Northrop Grumman from a "b+" rating to a "c+" rating in a report on Thursday, January 25th. Susquehanna reduced their price objective on shares of Northrop Grumman from $560.00 to $540.00 and set a "positive" rating for the company in a research report on Friday, January 26th. Robert W. Baird reduced their price objective on shares of Northrop Grumman from $505.00 to $475.00 and set a "neutral" rating for the company in a research report on Friday, January 26th. Royal Bank of Canada reiterated a "sector perform" rating and issued a $450.00 price target (down previously from $515.00) on shares of Northrop Grumman in a research report on Friday, January 26th. Finally, StockNews.com downgraded shares of Northrop Grumman from a "buy" rating to a "hold" rating in a research report on Monday, January 29th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and four have given a buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $494.33.

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.