Benjamin R. Davies Sells 192 Shares of Northrop Grumman Co. (NYSE:NOC) Stock

Northrop Grumman Co. (NYSE:NOC) VP Benjamin R. Davies sold 192 shares of the business’s stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $429.08, for a total transaction of $82,383.36. Following the completion of the transaction, the vice president now directly owns 709 shares of the company’s stock, valued at $304,217.72. This trade represents a 21.31 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Northrop Grumman Trading Up 2.5 %

Shares of Northrop Grumman stock opened at $461.03 on Wednesday. Northrop Grumman Co. has a twelve month low of $418.60 and a twelve month high of $555.57. The company has a current ratio of 1.01, a quick ratio of 0.91 and a debt-to-equity ratio of 0.96. The firm has a market capitalization of $66.74 billion, a PE ratio of 16.27, a P/E/G ratio of 3.73 and a beta of 0.35. The firm’s 50-day moving average price is $469.99 and its 200 day moving average price is $497.05.

Northrop Grumman (NYSE:NOC) last issued its earnings results on Thursday, January 30th. The aerospace company reported $6.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.27 by $0.12. Northrop Grumman had a return on equity of 26.24% and a net margin of 10.17%. On average, sell-side analysts predict that Northrop Grumman Co. will post 28.05 EPS for the current fiscal year.

Northrop Grumman declared that its board has authorized a stock repurchase plan on Wednesday, December 11th that permits the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization permits the aerospace company to purchase up to 4.3% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued.

Northrop Grumman Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 19th. Investors of record on Monday, March 3rd will be given a dividend of $2.06 per share. This represents a $8.24 annualized dividend and a yield of 1.79%. The ex-dividend date of this dividend is Monday, March 3rd. Northrop Grumman’s payout ratio is currently 29.08%.

Institutional Trading of Northrop Grumman

Hedge funds have recently made changes to their positions in the company. Integrated Advisors Network LLC lifted its holdings in Northrop Grumman by 4.6% in the fourth quarter. Integrated Advisors Network LLC now owns 2,067 shares of the aerospace company’s stock valued at $970,000 after acquiring an additional 91 shares during the last quarter. Great Valley Advisor Group Inc. lifted its stake in shares of Northrop Grumman by 5.5% in the 4th quarter. Great Valley Advisor Group Inc. now owns 16,856 shares of the aerospace company’s stock valued at $7,910,000 after purchasing an additional 882 shares during the last quarter. Ameriflex Group Inc. purchased a new position in shares of Northrop Grumman during the 4th quarter worth $287,000. Challenger Wealth Management purchased a new position in shares of Northrop Grumman during the 4th quarter worth $618,000. Finally, American Trust increased its position in shares of Northrop Grumman by 35.9% during the 4th quarter. American Trust now owns 2,084 shares of the aerospace company’s stock worth $978,000 after purchasing an additional 550 shares during the last quarter. Hedge funds and other institutional investors own 83.40% of the company’s stock.

Analyst Upgrades and Downgrades

NOC has been the subject of a number of recent research reports. Susquehanna reduced their price objective on shares of Northrop Grumman from $625.00 to $557.00 and set a “positive” rating for the company in a research note on Wednesday, January 8th. Truist Financial started coverage on shares of Northrop Grumman in a report on Tuesday, January 14th. They set a “buy” rating and a $544.00 price objective on the stock. Wolfe Research raised shares of Northrop Grumman from an “underperform” rating to a “peer perform” rating in a report on Monday, February 3rd. Citigroup upped their price target on shares of Northrop Grumman from $587.00 to $591.00 and gave the company a “buy” rating in a report on Monday, February 10th. Finally, UBS Group decreased their price objective on shares of Northrop Grumman from $579.00 to $558.00 and set a “buy” rating for the company in a research report on Friday, January 31st. Nine research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, Northrop Grumman presently has an average rating of “Moderate Buy” and a consensus target price of $544.56.

About Northrop Grumman

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.