Northrop Grumman (NYSE:NOC) Issues FY24 Earnings Guidance

Northrop Grumman (NYSE:NOC - Get Free Report) updated its FY24 earnings guidance on Wednesday. The company provided earnings per share guidance of $24.45-24.85 for the period, compared to the consensus earnings per share estimate of $24.79. The company issued revenue guidance of $40.8-41.2 billion, compared to the consensus revenue estimate of $41.10 billion.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on NOC. Robert W. Baird increased their price target on shares of Northrop Grumman from $475.00 to $505.00 and gave the stock a neutral rating in a research note on Friday, April 26th. Royal Bank of Canada raised their price objective on shares of Northrop Grumman from $450.00 to $475.00 and gave the company a sector perform rating in a research note on Friday, April 26th. StockNews.com upgraded shares of Northrop Grumman from a hold rating to a buy rating in a research note on Friday, April 26th. TheStreet lowered shares of Northrop Grumman from a b+ rating to a c+ rating in a research note on Thursday, January 25th. Finally, Wells Fargo & Company raised their price objective on shares of Northrop Grumman from $483.00 to $518.00 and gave the company an equal weight rating in a research note on Tuesday, April 30th. One analyst has rated the stock with a sell rating, six have given a hold rating and five have given a buy rating to the company. According to MarketBeat.com, Northrop Grumman currently has a consensus rating of Hold and an average price target of $514.33.

Northrop Grumman Stock Performance

Shares of NYSE NOC traded down $4.42 during trading on Wednesday, reaching $469.65. 671,026 shares of the company traded hands, compared to its average volume of 987,141. The firm has a 50 day simple moving average of $467.00 and a 200-day simple moving average of $465.08. The company has a quick ratio of 1.02, a current ratio of 1.13 and a debt-to-equity ratio of 1.04. The stock has a market capitalization of $69.50 billion, a PE ratio of 32.70, a P/E/G ratio of 1.96 and a beta of 0.34. Northrop Grumman has a 52-week low of $414.56 and a 52-week high of $496.89.

Northrop Grumman (NYSE:NOC - Get Free Report) last posted its quarterly earnings data on Thursday, April 25th. The aerospace company reported $6.32 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $5.83 by $0.49. The company had revenue of $10.13 billion for the quarter, compared to the consensus estimate of $9.77 billion. Northrop Grumman had a net margin of 5.38% and a return on equity of 24.09%. The firm's revenue was up 8.9% compared to the same quarter last year. During the same quarter last year, the firm posted $5.50 earnings per share. Equities research analysts anticipate that Northrop Grumman will post 24.7 earnings per share for the current year.

Northrop Grumman Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 12th. Investors of record on Tuesday, May 28th will be issued a $2.06 dividend. This is an increase from Northrop Grumman's previous quarterly dividend of $1.87. The ex-dividend date is Friday, May 24th. This represents a $8.24 dividend on an annualized basis and a dividend yield of 1.75%. Northrop Grumman's dividend payout ratio (DPR) is presently 52.31%.

Insider Buying and Selling

In other Northrop Grumman news, 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 sale, the vice president now owns 2,024 shares in the company, valued at approximately $917,317.28. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, VP Kathryn G. Simpson sold 711 shares of Northrop Grumman 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 sale, the vice president now owns 2,024 shares in the company, valued at $917,317.28. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CAO Michael A. Hardesty sold 955 shares of the business's stock in a transaction on Friday, February 16th. The stock was sold at an average price of $450.37, for a total transaction of $430,103.35. Following the completion of the sale, the chief accounting officer now owns 4,137 shares in the company, valued at approximately $1,863,180.69. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 3,149 shares of company stock valued at $1,421,147. 0.22% of the stock is owned by insiders.

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.