Northrop Grumman CEO Sells $3,718,800 in Stock (NOC)
Northrop Grumman (NYSE:NOC) CEO Wesley G. Bush sold 30,000 shares of the stock on the open market in a transaction that occurred on Friday, August 1st. The stock was sold at an average price of $123.96, for a total value of $3,718,800.00. Following the transaction, the chief executive officer now directly owns 120,000 shares of the company’s stock, valued at approximately $14,875,200. The transaction was disclosed in a legal filing with the SEC, which is available at this link.
Shares of Northrop Grumman (NYSE:NOC) traded down 0.29% on Tuesday, hitting $123.0001. The stock had a trading volume of 907,804 shares. Northrop Grumman has a 52-week low of $91.97 and a 52-week high of $128.46. The stock’s 50-day moving average is $122.7 and its 200-day moving average is $120.6. The company has a market cap of $25.576 billion and a P/E ratio of 13.31.
Northrop Grumman (NYSE:NOC) last posted its quarterly earnings results on Wednesday, July 23rd. The company reported $2.37 earnings per share for the quarter, beating the analysts’ consensus estimate of $2.22 by $0.15. The company had revenue of $6.00 billion for the quarter, compared to the consensus estimate of $5.97 billion. During the same quarter last year, the company posted $2.05 earnings per share. Northrop Grumman’s revenue was down 4.1% compared to the same quarter last year. On average, analysts predict that Northrop Grumman will post $9.41 earnings per share for the current fiscal year.
A number of analysts have recently weighed in on NOC shares. Analysts at Argus upgraded shares of Northrop Grumman to a “hold” rating in a research note on Monday, July 28th. They now have a $115.00 price target on the stock. Separately, analysts at Credit Suisse reiterated a “neutral” rating on shares of Northrop Grumman in a research note on Monday, July 28th. They now have a $130.00 price target on the stock, up previously from $128.00. Finally, analysts at Deutsche Bank reiterated a “hold” rating on shares of Northrop Grumman in a research note on Thursday, July 24th. They now have a $140.00 price target on the stock, up previously from $135.00. Eleven analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $127.43.
Northrop Grumman Corporation (NYSE:NOC) provides products, services, and integrated solutions in aerospace, electronics, information and services to its global customers.
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