Investors Buy High Volume of Call Options on Northrop Grumman (NOC)
Northrop Grumman (NYSE:NOC) saw some unusual options trading activity on Tuesday. Stock traders bought 644 call options on the company, StockRatingsNetwork reports. This represents an increase of 108% compared to the typical volume of 309 call options.
In other Northrop Grumman news, CEO Wesley G. Bush sold 30,000 shares of Northrop Grumman stock on the open market in a transaction that occurred on Friday, August 1st. The shares were sold at an average price of $123.96, for a total transaction of $3,718,800.00. The sale was disclosed in a filing with the SEC, which is available at this link.
Several analysts have recently commented on the stock. Analysts at Barclays raised their price target on shares of Northrop Grumman from $130.00 to $132.00 in a research note on Monday. They now have an “equal weight” rating on the stock. Separately, 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. Finally, 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. Ten investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $127.85.
Northrop Grumman (NYSE:NOC) traded down 0.37% during mid-day trading on Tuesday, hitting $123.03. 769,706 shares of the company’s stock traded hands. Northrop Grumman has a 1-year low of $91.97 and a 1-year high of $128.46. The stock’s 50-day moving average is $122.7 and its 200-day moving average is $120.7. The company has a market cap of $25.583 billion and a price-to-earnings ratio of 13.33.
Northrop Grumman (NYSE:NOC) last posted its quarterly earnings results on Wednesday, July 23rd. The company reported $2.37 earnings per share (EPS) for the quarter, beating the 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 in the previous year, the company posted $2.05 earnings per share. The company’s revenue for the quarter was down 4.1% on a year-over-year basis. On average, analysts predict that Northrop Grumman will post $9.41 earnings per share for the current fiscal year.
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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