Northrop Grumman Hits New 12-Month High Following Dividend Announcement (NOC)
Northrop Grumman (NYSE:NOC) shares hit a new 52-week high during trading on Thursday after the company announced a dividend, Analyst Ratings Network.com reports. The stock traded as high as $128.56 and last traded at $127.88, with a volume of 394,390 shares. The stock had previously closed at $128.17.
The newly announced dividend is scheduled for Wednesday, September 17th. Investors of record on Tuesday, September 2nd will be given a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a yield of 2.18%.
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, August 11th. 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 analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $127.85.
The stock’s 50-day moving average is $123.7 and its 200-day moving average is $121.3. The company has a market cap of $26.581 billion and a price-to-earnings ratio of 13.83.
Northrop Grumman (NYSE:NOC) last released its earnings data 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. Analysts expect that Northrop Grumman will post $9.41 EPS 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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