Traders Sell Northrop Grumman Corp. (NOC) on Strength on Insider Selling
Investors sold shares of Northrop Grumman Corp. (NYSE:NOC) on strength during trading hours on Friday after an insider sold shares in the company. $45.99 million flowed into the stock on the tick-up and $73.70 million flowed out of the stock on the tick-down, for a money net flow of $27.71 million out of the stock. Of all companies tracked, Northrop Grumman Corp. had the 10th highest net out-flow for the day. Northrop Grumman Corp. traded up $1.22 for the day and closed at $215.43Specifically, VP Christopher T. Jones sold 240 shares of Northrop Grumman Corp. stock in a transaction that occurred on Monday, August 1st. The shares were sold at an average price of $215.86, for a total value of $51,806.40. Following the completion of the transaction, the vice president now owns 48,020 shares in the company, valued at $10,365,597.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Kenneth L. Bedingfield sold 125 shares of Northrop Grumman Corp. stock in a transaction that occurred on Monday, October 3rd. The stock was sold at an average price of $213.00, for a total transaction of $26,625.00. Following the completion of the transaction, the chief financial officer now owns 18,501 shares of the company’s stock, valued at approximately $3,940,713. The disclosure for this sale can be found here. 0.90% of the stock is currently owned by corporate insiders.
NOC has been the subject of several recent analyst reports. Vetr upgraded shares of Northrop Grumman Corp. from a “hold” rating to a “buy” rating and set a $224.44 price objective for the company in a research report on Tuesday, June 14th. Jefferies Group boosted their price objective on shares of Northrop Grumman Corp. from $233.00 to $250.00 and gave the stock a “buy” rating in a research report on Thursday, July 28th. Zacks Investment Research upgraded shares of Northrop Grumman Corp. from a “hold” rating to a “buy” rating and set a $248.00 price objective for the company in a research report on Monday, July 4th. Citigroup Inc. boosted their price objective on shares of Northrop Grumman Corp. from $235.00 to $243.00 and gave the stock a “buy” rating in a research report on Tuesday, September 6th. Finally, Argus restated a “buy” rating on shares of Northrop Grumman Corp. in a research report on Tuesday, August 2nd. Nine equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $223.97.
The company has a market cap of $38.47 billion, a P/E ratio of 19.38 and a beta of 0.72. The company has a 50 day moving average of $213.65 and a 200 day moving average of $212.53.
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Northrop Grumman Corp. (NYSE:NOC) last announced its quarterly earnings data on Wednesday, July 27th. The company reported $2.85 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.53 by $0.32. Northrop Grumman Corp. had a return on equity of 32.59% and a net margin of 8.67%. The firm had revenue of $6 billion for the quarter, compared to analysts’ expectations of $5.99 billion. During the same period last year, the business posted $2.54 earnings per share. The firm’s revenue for the quarter was up 1.8% on a year-over-year basis. Equities research analysts predict that Northrop Grumman Corp. will post $11.04 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 14th. Investors of record on Monday, August 29th were paid a dividend of $0.90 per share. This represents a $3.60 annualized dividend and a yield of 1.67%. The ex-dividend date of this dividend was Thursday, August 25th. Northrop Grumman Corp.’s dividend payout ratio (DPR) is presently 32.37%.
A number of institutional investors have recently made changes to their positions in the company. Scotia Capital Inc. boosted its position in shares of Northrop Grumman Corp. by 130.7% in the first quarter. Scotia Capital Inc. now owns 5,511 shares of the company’s stock valued at $1,092,000 after buying an additional 23,470 shares during the period. Meeder Asset Management Inc. boosted its position in shares of Northrop Grumman Corp. by 459.8% in the first quarter. Meeder Asset Management Inc. now owns 10,608 shares of the company’s stock valued at $2,099,000 after buying an additional 8,713 shares during the period. Pegasus Partners Ltd. purchased a new position in shares of Northrop Grumman Corp. during the first quarter valued at about $695,000. Miles Capital Inc. purchased a new position in shares of Northrop Grumman Corp. during the first quarter valued at about $1,161,000. Finally, Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of Northrop Grumman Corp. during the first quarter valued at about $1,835,000. Hedge funds and other institutional investors own 82.52% of the company’s stock.
Northrop Grumman Corp. Company Profile
Northrop Grumman Corporation (Northrop Grumman) is a global security company. The Company provides systems, products and solutions in unmanned systems; cyber; command, control, communications and computers (C4), intelligence, surveillance, and reconnaissance (C4ISR); strike aircraft, and logistics and modernization to Government and commercial customers across the world.
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