Northrop Grumman (NOC) Set to Announce Earnings on Thursday

Northrop Grumman (NYSE:NOC) is scheduled to release its earnings data before the market opens on Thursday, April 25th. Analysts expect Northrop Grumman to post earnings of $5.81 per share for the quarter. Northrop Grumman has set its FY24 guidance at $24.45-24.85 EPS.Individual that wish to register for the company’s earnings conference call can do so using this link.

Northrop Grumman (NYSE:NOC) last issued its quarterly earnings data on Thursday, January 25th. The aerospace company reported $6.27 EPS for the quarter, topping the consensus estimate of $5.80 by $0.47. Northrop Grumman had a return on equity of 23.07% and a net margin of 5.23%. The company had revenue of $10.64 billion during the quarter, compared to analyst estimates of $10.43 billion. During the same quarter in the previous year, the company posted $7.50 earnings per share. Northrop Grumman’s revenue was up 6.0% compared to the same quarter last year. On average, analysts expect Northrop Grumman to post $25 EPS for the current fiscal year and $28 EPS for the next fiscal year.

Northrop Grumman Stock Performance

Shares of NOC opened at $451.82 on Thursday. The company has a debt-to-equity ratio of 0.93, a current ratio of 1.15 and a quick ratio of 1.05. Northrop Grumman has a one year low of $414.56 and a one year high of $496.89. The firm has a market capitalization of $66.96 billion, a P/E ratio of 33.52, a PEG ratio of 1.81 and a beta of 0.35. The business has a fifty day moving average of $459.54 and a 200 day moving average of $464.20.

Northrop Grumman Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 13th. Investors of record on Monday, February 26th were issued a $1.87 dividend. This represents a $7.48 annualized dividend and a dividend yield of 1.66%. The ex-dividend date of this dividend was Friday, February 23rd. Northrop Grumman’s payout ratio is currently 55.49%.

Insider Activity

In other news, CAO Michael A. Hardesty sold 955 shares of the business’s stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $450.37, for a total value of $430,103.35. Following the transaction, the chief accounting officer now directly owns 4,137 shares in the company, valued at $1,863,180.69. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, VP Kathryn G. Simpson sold 1,273 shares of the business’s stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $450.37, for a total value of $573,321.01. Following the sale, the vice president now directly owns 2,735 shares in the company, valued at $1,231,761.95. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CAO Michael A. Hardesty sold 955 shares of the business’s stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $450.37, for a total value of $430,103.35. Following the completion of the sale, the chief accounting officer now owns 4,137 shares in the company, valued at $1,863,180.69. The disclosure for this sale can be found here. Insiders have sold 3,149 shares of company stock worth $1,421,147 over the last ninety days. Corporate insiders own 0.22% of the company’s stock.

Institutional Investors Weigh In On Northrop Grumman

Hedge funds have recently made changes to their positions in the company. State of Wyoming raised its position in Northrop Grumman by 76.5% during the fourth quarter. State of Wyoming now owns 60 shares of the aerospace company’s stock valued at $33,000 after purchasing an additional 26 shares during the period. IMA Wealth Inc. raised its position in Northrop Grumman by 196.3% during the second quarter. IMA Wealth Inc. now owns 80 shares of the aerospace company’s stock valued at $36,000 after purchasing an additional 53 shares during the period. West Tower Group LLC purchased a new stake in Northrop Grumman during the fourth quarter valued at approximately $63,000. AM Squared Ltd purchased a new stake in Northrop Grumman during the first quarter valued at approximately $92,000. Finally, Worth Asset Management LLC purchased a new stake in Northrop Grumman during the first quarter valued at approximately $93,000. 83.40% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the company. TheStreet lowered Northrop Grumman from a “b+” rating to a “c+” rating in a report on Thursday, January 25th. Royal Bank of Canada reissued a “sector perform” rating and set a $450.00 price target (down previously from $515.00) on shares of Northrop Grumman in a report on Friday, January 26th. Robert W. Baird cut their price target on Northrop Grumman from $505.00 to $475.00 and set a “neutral” rating for the company in a report on Friday, January 26th. StockNews.com lowered Northrop Grumman from a “buy” rating to a “hold” rating in a report on Monday, January 29th. Finally, Susquehanna cut their price target on Northrop Grumman from $560.00 to $540.00 and set a “positive” rating for the company in a report on Friday, January 26th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $494.33.

Northrop Grumman Company Profile

Northrop Grumman Corporation operates as an aerospace and defense technology company in the United States, Asia/Pacific, Europe, and internationally. The company's Aeronautics Systems segment designs, develops, manufactures, integrates, and sustains aircraft systems. This segment also offers unmanned autonomous aircraft systems, including high-altitude long-endurance strategic ISR systems and vertical take-off and landing tactical ISR systems; and strategic long-range strike aircraft, tactical fighter and air dominance aircraft, and airborne battle management and command and control systems.