Northrop Grumman Corporation (NOC) to Issue Quarterly Dividend of $1.00
Northrop Grumman Corporation (NYSE:NOC) declared a quarterly dividend on Wednesday, November 15th, RTT News reports. Shareholders of record on Monday, December 4th will be paid a dividend of 1.00 per share by the aerospace company on Wednesday, December 20th. This represents a $4.00 annualized dividend and a yield of 1.33%.
Northrop Grumman Corporation has increased its dividend payment by an average of 13.7% annually over the last three years and has raised its dividend annually for the last 9 consecutive years. Northrop Grumman Corporation has a dividend payout ratio of 30.3% meaning its dividend is sufficiently covered by earnings. Analysts expect Northrop Grumman Corporation to earn $13.53 per share next year, which means the company should continue to be able to cover its $4.00 annual dividend with an expected future payout ratio of 29.6%.
Shares of Northrop Grumman Corporation (NOC) traded up $1.98 during trading hours on Wednesday, reaching $300.46. The company’s stock had a trading volume of 521,500 shares, compared to its average volume of 777,759. The stock has a market capitalization of $51,958.95, a PE ratio of 22.75, a price-to-earnings-growth ratio of 3.00 and a beta of 0.70. The company has a debt-to-equity ratio of 0.96, a current ratio of 1.21 and a quick ratio of 1.05. Northrop Grumman Corporation has a fifty-two week low of $220.72 and a fifty-two week high of $306.61.
In related news, VP Denise M. Peppard sold 5,037 shares of Northrop Grumman Corporation stock in a transaction that occurred on Wednesday, November 1st. The stock was sold at an average price of $295.67, for a total transaction of $1,489,289.79. Following the sale, the vice president now owns 58,186 shares of the company’s stock, valued at approximately $17,203,854.62. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Sid Ashworth sold 6,311 shares of Northrop Grumman Corporation stock in a transaction that occurred on Friday, October 27th. The shares were sold at an average price of $298.00, for a total value of $1,880,678.00. Following the sale, the vice president now directly owns 63,147 shares in the company, valued at approximately $18,817,806. The disclosure for this sale can be found here. Insiders have sold a total of 21,417 shares of company stock worth $6,365,189 in the last three months. 0.70% of the stock is owned by corporate insiders.
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Several research analysts have issued reports on NOC shares. Stifel Nicolaus reissued a “hold” rating and issued a $255.00 target price (up from $245.00) on shares of Northrop Grumman Corporation in a research report on Thursday, July 27th. Deutsche Bank AG reissued a “buy” rating and issued a $285.00 target price (up from $275.00) on shares of Northrop Grumman Corporation in a research report on Thursday, July 27th. BidaskClub cut Northrop Grumman Corporation from a “buy” rating to a “hold” rating in a research report on Monday, July 31st. Argus lifted their price objective on Northrop Grumman Corporation from $270.00 to $295.00 and gave the company a “buy” rating in a research report on Friday, August 4th. Finally, Morgan Stanley initiated coverage on Northrop Grumman Corporation in a research report on Tuesday, August 8th. They set an “equal weight” rating and a $279.00 price objective on the stock. Six equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Northrop Grumman Corporation currently has an average rating of “Buy” and a consensus target price of $292.01.
Northrop Grumman Corporation Company Profile
Northrop Grumman Corporation is a global security company. The Company provides products, systems and solutions in autonomous systems; cyber; command, control, communications and computers, intelligence, surveillance and reconnaissance (C4ISR); strike, and logistics and modernization. The Company’s segments include Aerospace Systems, Mission Systems and Technology Services.
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